Life Insurance Rates
What determines your life insurance rate, how costs change by age, and what you can do to get a better price.
What Determines Your Rate
Life insurance premiums are based on the insurer's assessment of how likely you are to die during the coverage period. The key factors, ranked by impact:
Age
Highest impactPremiums increase ~8–10% per year of age. A 40-year-old pays roughly double what a 30-year-old pays for the same policy.
Health history
High impactChronic conditions, family history of heart disease or cancer, and current health status all affect your risk class.
Smoking status
High impactSmokers pay 2–4x more than non-smokers. This is the single biggest controllable factor in your premium.
Coverage amount
Direct impactMore coverage = higher premiums. But rates don't scale linearly — $1M costs less than 2x what $500K costs.
Term length
Moderate impactA 30-year term costs more than a 20-year or 10-year term because the insurer is taking on more risk.
Gender
Moderate impactMen pay 15–30% more than women for the same coverage due to shorter average life expectancy.
Occupation & hobbies
VariesHigh-risk occupations (pilots, construction) and hobbies (skydiving, racing) can increase premiums.
BMI / weight
Moderate impactBeing significantly over or underweight can move you into a higher risk class. Optimal BMI gets you preferred rates.
Term Life Insurance Rates by Age
Estimated monthly premiums for a healthy non-smoker, $500,000 coverage.
| Age | 10-Year Term | 20-Year Term | 30-Year Term | |||
|---|---|---|---|---|---|---|
| Male | Female | Male | Female | Male | Female | |
| 25 | $12–$18 | $10–$15 | $15–$25 | $12–$20 | $22–$35 | $18–$28 |
| 30 | $13–$20 | $11–$17 | $18–$30 | $15–$24 | $28–$42 | $22–$34 |
| 35 | $15–$24 | $13–$20 | $22–$38 | $18–$30 | $38–$58 | $30–$45 |
| 40 | $20–$32 | $17–$26 | $35–$55 | $28–$42 | $60–$95 | $48–$75 |
| 45 | $30–$48 | $24–$38 | $55–$85 | $44–$65 | $100–$160 | $80–$125 |
| 50 | $48–$75 | $38–$58 | $90–$135 | $70–$105 | Limited | Limited |
Estimates for illustrative purposes. Actual rates depend on health, insurer, and specific policy terms.
How to Get a Better Rate
Frequently Asked Questions
What's the biggest factor in life insurance cost?
Age and health are the two biggest factors. A healthy 30-year-old pays roughly half what a healthy 40-year-old pays for the same coverage. Smoking status is the single biggest controllable factor — smokers pay 2–4x more than non-smokers.
Do men pay more for life insurance than women?
Yes, typically 15–30% more. Men have a statistically shorter life expectancy, which means higher risk for the insurer. This gap widens with age.
Can I get cheaper life insurance if I lose weight or quit smoking?
Yes. Most insurers reclassify you as a non-smoker after 12 months without tobacco use, which can cut your premium in half. Weight loss that moves you into a better BMI category can also reduce rates. Some insurers offer policy re-evaluation after health improvements.
Why do rates increase so much after 40?
After 40, mortality risk increases more steeply with each year. Health conditions become more common, and the probability of a claim during a 20 or 30-year term rises significantly. This is why locking in a rate in your 30s saves substantially over your lifetime.
See Your Personalized Rate
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