Life Insurance Rates by Age

Feb 2, 2026 Best Life Insurance Rates by Age

Wouldn’t it be great if you could review sample life insurance rates by age without providing any personal information? Well, now you can!

We’ve analyzed how term life insurance pricing changes as you get older and how coverage needs shift at each stage of life.

This guide provides a clear, simple overview of what to expect from your 20s through retirement, so you can make confident decisions.

 

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average monthly life insurance cost by ageHow Age Affects Life Insurance Premiums

Many buyers understand that age plays a major role in life insurance pricing. Insurers use age to assess risk and set premiums, because it is a strong predictor of life expectancy.

Some companies even offer annually renewable policies, but the premiums rise every year as you get older and become more costly over time.

For most people, we recommend level‑term policies because they offer predictable premiums and avoid the yearly price increases that come with age‑rated plans.

Since the likelihood of death rises with age, longer-term life insurance policies are more expensive than shorter options.

Most level term policies base premiums on your “attained age,” which is the age you’ll be on your next birthday.

To help you snag the best rates, it’s a good idea to apply for coverage about six months before your birthday. 

Other factors that influence your premium include gender, tobacco use, personal medical history, lifestyle choices, and family medical history.

We recommend being honest about these factors when applying to secure the best rates for your individual needs.

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Life Insurance Rates by Age

Your choice between term and permanent life insurance plays a big role in what you’ll pay over time.

Term life is usually the more affordable option because it covers you for a set number of years and doesn’t build cash value.

However, choosing a term policy with good conversion options gives you the flexibility to switch to permanent coverage later without a medical exam.

Permanent life insurance—such as whole life or universal life—costs more because it lasts your entire lifetime and grows cash value along the way.

If you’re considering a policy that includes savings features, starting a permanent policy earlier in life can help secure lower premiums and give your policy time to grow those tax-deferred cash values.

 

average Life Insurance costs by Age

Term Life Insurance Rates by Age, 20s and 30s

People in their 20s and 30s often buy term life insurance to protect growing responsibilities.

This stage of life typically includes starting a family, buying a home, or taking on long‑term financial commitments. 

Statistics show that many young adults have life insurance coverage. According to LIMRA’s market study, 34% of Gen Z and 45% of millennials own a life insurance policy.

Young adults benefit from lower life insurance premiums because they’re typically healthier and easier to underwrite.

Many younger buyers underestimate how quickly financial responsibilities grow, which is why securing strong coverage early is so important.

We encourage couples to choose the largest death benefit and the longest term they can comfortably afford, ensuring protection as income rises, families grow, and obligations increase.

Most of our younger clients choose either a 20-year or 30‑year term policy to stay covered through major milestones.

Average Term Life Insurance Rates by Age 

Males$250k$500k$750k$1mm
Age10 101010
 20$11$14$19$21
 30$12$15$20$22
 15151515 
 20$11$16$21$25
 30$12$17$23$26
 20202020
 20$13$21$29$35
 30$15$22$29$37
Females$250k$500k$750k$1mm
Age10 101010
 20$10$12$14$20
 30$11$13$16$21
 15151515 
 20$11$14$15$23
 30$13$16$16$24
 20202020
 20$14$19$19$33
 30$16$21$21$35

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Buying Term Life Insurance in Your 20s and 30s

Here’s a potential buying strategy for a young, high-earning couple without kids and a new 30-year mortgage.

  • The amount of life insurance may be smaller if the husband and wife have excellent-paying jobs and can support themselves independently.
  • But since they have a mortgage, they should cover the balance with a 30-year term life policy on each other in the event of one’s death.
term Life Insurance Rates by Age,

Term Life Insurance Rates by Age, 40s & 50s

We encourage middle‑aged buyers to review older life insurance policies because coverage that once fit your life may no longer match your current income, debts, or family needs.

As you move through your 40s and 50s, financial responsibilities tend to peak, which is why many people increase their coverage during this stage.

For many families, this includes ongoing obligations like a mortgage, children still living at home, or aging parents who rely on your support.

Many couples turn to mortgage protection life insurance to ensure their loan balance is paid off, leaving their family debt-free. 

At the same time, others adjust their coverage to help support aging parents and make sure their care continues even if you’re no longer here.

Parents also use life insurance to protect future college tuition costs, ensuring their children can still pursue higher education.

As careers grow and financial commitments expand, it’s also a popular time for partners to protect each other’s income.

The good news is that life insurance rates for healthy middle‑aged buyers remain very affordable, even with increased coverage needs.

With that in mind, most buyers choose 10‑, 15‑, or 20‑year term policies to stay protected until retirement or until their children become financially independent.

Term Insurance Rate Chart by Age 

Males $250k$500k$750k$1mm
Age10101010
 40$12$19$25$29
 50$24$42$63$75
 15151515
 40$13$21$31$36
 50$33$61$87$111
 20202020
 40$19$30$44$55
 50$43$79$116$146
Females $250k$500k$750k$1mm
Age10101010
 40$10$16$22$25
 50$22$35$48$58
 15151515
 40$12$20$26$33
 50$23$40$59$75
 20202020
 40$15$24$34$43
 50$26$49$76$98

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Buying Term Life Insurance in your 40s and 50s

Here’s how a typical middle-aged couple with one income, children, and a mortgage should assess their life insurance needs.

  • First, determine the death benefit necessary to generate several years of income for your surviving spouse and cover your children’s college tuition. 
  • Next, calculate the amount needed to pay off any outstanding mortgage balance.
  • The total death benefit will provide immediate funds to replace your income, cover college expenses, and pay off the mortgage.

Term Life Insurance Rates by Age

Life Insurance Rates by Age

Term Life Insurance Rates by Age, 60s & 70s

Term life insurance in your 60s and 70s plays a very different role than it does earlier in life.

Many people in their early 60s purchase term life insurance to replace their income, settle outstanding mortgages, or address other major obligations.

With retirement approaching, term insurance can bridge the gap between full-time work and the years when Social Security or pension income becomes the primary source of support.

For the lowest term life insurance rates, opt for a shorter term, like a 10‑year policy, which is usually the most affordable option.

For some seniors, however, a longer policy may be more appropriate. Many people in their golden years want to create a financial nest egg for a surviving spouse or adult children.

A 20-year term can provide solid protection, but it’s essential to ensure that the policy duration matches your long-term financial goals and life expectancy. A longer term is valuable only if the insured doesn’t outlive it.

Finding term life insurance for seniors is easier than it seems. If you’re healthy, getting coverage in your 60s and early 70s can be surprisingly affordable and accessible. 

Advancements in medicine have led insurers to adjust their guidelines, improving access to coverage for those who previously faced challenges.

Term Life Insurance Rates by Age 

Males$250k$500k$750k$1mm
Age10101010
 60$62$113$171$214
 70$172$319$475$610
 15 151515
 60$82$152$226$288
 70$238$463$690$890
 2020 2020
 60$115$211$321$406
 70$409$819$1,226$1,577
Females$250k$500k$750k$1mm
Age10101010
 60$39$78$103$137
 70$109$198$294$366
 15 151515
 60$53$103$136$180
 70$157$298$443$545
 2020 2020
 60$76$143$207$266
 70$314$606$905$1,098

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Buying Term Life Insurance Over Sixty

An easy strategy for a senior couple with dual incomes and adult children to ensure they are adequately covered by life insurance.

  • First, you only need to consider two policies to protect each other’s income to provide for the surviving spouse. 
  • Since you are older and may have other income streams, you can subtract any other income sources that will be available, like your surviving spouse’s income, retirement accounts, pensions, and social security.

Life Insurance Rates for Seniors Over 70 Life Insurance Rates for Seniors Over 70 

Seniors who wish to cover final expenses, such as funeral costs and outstanding medical bills, typically purchase coverage amounts of $10,000 to $25,000. 

The best coverage for seniors over 70 seeking lifetime protection is a simplified-issue whole life or a universal life policy.

Simplified-issue whole life policies offer higher premiums and easier approvals, making them ideal for individuals with health issues, as they do not require medical exams.

However, seniors who maintain regular checkups and remain in good health should buy cheaper guaranteed universal life insurance coverage.

GUL policies can provide substantial lifelong coverage and are ideal for estate planning, providing a tax-free inheritance or ensuring an equal distribution of assets among children.

The following tables display universal life insurance rates by age, including typical premiums for $25,000 and $50,000 policies up to age 100.

Universal Life Insurance Rates by Age

MalesDeath BenefitDeath Benefit
Age$25k$50k
69$78$158
70$84$164
71$90$174
72$94$183
73$101$195
74$106$207
75$112$220
76$119$233
77$128$251
78$137$270
79$147$290
80$160$319
FemalesDeath BenefitDeath Benefit
Age$25k$50k
69$78$136
70$82$142
71$86$150
72$89$160
73$94$168
74$98$176
75$104$186
76$112$197
77$118$217
78$126$231
79$130$247
80$141$263

term life insurance rates by age chart

 Buying Life Insurance At Any Age

Buying life insurance at any age starts with understanding what you want to protect and how much coverage your family would truly need.

Your next step is choosing the right policy to meet your coverage goals. Term life is best for temporary needs, while permanent coverage offers long-term benefits.

It also pays to compare multiple insurance companies, since each one looks at your health differently, and pricing can vary more than most people expect.

Many applicants can qualify without a medical exam, as most underwriting is done over the phone, though once you reach age 70, most insurers will require a quick, simple in‑home exam.

Working with an independent agent makes the entire process easier by helping you sort through options and find the best value for your age, health, and goals.

Our insurance experts are here to walk you through every step and help you build a plan that fits your needs and your budget.

Whole Life Insurance Rates by Age

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Life Insurance Rates by AgeFAQs: Life Insurance Rates by Age

At what age do most people buy life insurance? The average age at which people purchase life insurance in the United States is approximately 35, often coinciding with significant milestones such as marriage or parenthood.

Do life insurance rates go up as you get older? Yes, they do. Life insurance premiums typically increase as you age due to the likelihood of health issues and mortality.

What is the most affordable age to purchase life insurance? Typically, buying a policy in your twenties offers the lowest rates since younger individuals are generally healthier and pose less risk to insurers.

When should you no longer carry life insurance? Unless you wish to create an estate for children, you can discontinue your coverage once you have fulfilled all significant financial responsibilities. 

At what age can you no longer get life insurance? The age at which you can no longer obtain life insurance varies among insurance companies. In general, policies are not issued to those aged 85 or older.

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