Compare life insurance quotes
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Term life rates by age
| Age | Men, yearly | Women, yearly | Men, monthly | Women, monthly |
|---|---|---|---|---|
| 20 | $209 | $175 | $17 | $15 |
| 30 | $213 | $182 | $18 | $15 |
| 40 | $321 | $278 | $27 | $23 |
| 50 | $810 | $636 | $68 | $53 |
| 60 | $2,335 | $1,640 | $195 | $137 |
| 70 | $9,702 | $7,934 | $809 | $661 |
Source: NerdWallet, October 2026. $500,000, 20-year term, preferred health, nonsmoker.
Women pay less because they live longer on average: about 13% less than men at 40. Prices rise slowly through your 30s, then sharply after 45. A 50-year-old man pays almost four times what a 30-year-old does.
Rates by coverage amount and term length
| 40-year-old, 20-year term | $250,000 | $500,000 | $1 million |
|---|---|---|---|
| Women, monthly | $28 | $47 | $86 |
| Men, monthly | $35 | $59 | $109 |
| 40-year-old man, $500,000 | 10-year | 20-year | 30-year |
|---|---|---|---|
| Monthly premium | $41 | $59 | $104 |
Source: MoneyGeek, September 2026. Nonsmokers in average (standard plus) health.
Doubling cover from $500,000 to $1 million raises the price by about 85%, not 100%, so larger policies are better value per dollar. A 30-year term costs about 76% more than a 20-year term, because the insurer covers you into your 70s.
How health class changes the price
| 40-year-old, $500,000, 20-year | Women, monthly | Men, monthly |
|---|---|---|
| Preferred Plus | $29 | $35 |
| Preferred | $36 | $43 |
| Standard Plus | $47 | $59 |
| Standard | $52 | $66 |
Source: MoneyGeek, September 2026.
Insurers place you in a class based on your health, build, blood pressure, cholesterol, family history and lifestyle. Moving from Standard to Preferred Plus nearly halves the price. Because insurers weigh conditions differently, the same person can get different classes from different companies.
Smokers pay far more
NerdWallet’s October 2026 data shows a 40-year-old male smoker paying about $1,448 a year for $500,000 of 20-year cover, about 4.5 times the nonsmoker price. At 30, a woman who smokes pays about 3.5 times as much. Our life insurance for smokers guide explains how insurers define tobacco use and how quickly quitting pays off.
Whole life costs
| Age | Men, yearly | Women, yearly |
|---|---|---|
| 30 | $2,207 | $1,929 |
| 40 | $3,180 | $2,849 |
| 50 | $4,983 | $4,317 |
| 60 | $8,335 | $7,304 |
Source: NerdWallet, October 2026. $500,000 whole life, nonsmoker.
At 40, whole life costs about ten times as much as term for the same death benefit, because it lasts for life and builds cash value. See term vs. whole life.
Ways to pay less
- Buy sooner. Your rate is locked for the whole term at the age you buy.
- Compare insurers for your health profile; see our insurer comparison.
- Match term length to the need, such as the years until your youngest child is independent or your mortgage is paid off.
- Consider laddering: two smaller policies of different lengths can cost less than one long one as your needs fall.
- Pay annually if you can. Monthly payment plans often cost more over the year.
- Take the exam if you’re healthy. No-exam policies can cost more for some applicants; see our no-exam guide.
Frequently asked questions
How much is a $500,000 life insurance policy?
About $27 a month for a healthy 40-year-old man and $23 for a woman, for 20-year term cover (NerdWallet, October 2026). Whole life with the same benefit costs around $265 a month at 40.
How much is life insurance for a 30-year-old?
About $15 to $18 a month for $500,000 of 20-year term cover at preferred health rates.
Why is life insurance more expensive for men?
Women live longer on average, so insurers expect to pay out later. At 40, women pay about 13% less than men.
Does life insurance get more expensive every year?
Not once you buy. Term premiums are usually fixed for the whole term. But each year you wait, the starting price is higher.
Is whole life insurance worth the extra cost?
It can be for lifelong needs such as estate planning or a dependent with special needs. For income replacement, term is usually far cheaper.
Sources
- NerdWallet – Average life insurance rates (Oct 2026)
- MoneyGeek – Term life insurance rates by age (Sept 2026)
- LIMRA / Life Happens – 2026 Insurance Barometer
- AccuQuote – Paying life insurance monthly vs. annually
- NerdWallet – Life insurance for smokers and quitters (Apr 2026)
- NerdWallet – Best no-exam life insurance 2026
Insurance prices, discounts and rules change often and vary by state. Figures were checked in October 2026; confirm details with the insurer or your state insurance department.