Secure Your Best Life Insurance Rate
Life insurance rates rise with age. Buy now to lock in the lowest premium and maximize your savings.
Life insurance rates by age
Easy Way to Cut Life Insurance Costs
Buying life insurance early helps secure the lowest rates. On average, premiums increase by 8% each year you wait. Once you lock in your policy, your rate stays the same for the entire term.
For instance, a healthy 40-year-old non-smoker can get a 20-year, $1 million term policy for $2,172 per year. At 41, the same policy would cost $2,340, and by 42, it would jump to $2,508.
A quick look at any term life insurance rate chart proves—waiting only makes it more expensive.
Average Term Life Insurance Costs by Age
Term life insurance rates rise as you age. To illustrate this, we’ve created a rate chart showing how premiums change over time.
For example, a 35-year-old non-smoker pays $65/month for a 10-year, $1 million policy. By age 45, the same policy jumps to $135/month—an extra $840 per year.
Waiting too long means higher costs, especially for seniors. Still, term life insurance remains more affordable than permanent policies since it covers a set period without a cash value component.
Average for Male and Female
10-Year Term Life Insurance Policy with a $1,000,000 Death Benefit
| Age | Smoker | Non-smoker |
|---|---|---|
|
25 years old |
$123 |
$58 |
|
35 years old |
$137 |
$65 |
|
45 years old |
$332 |
$135 |
|
55 years old |
$982 |
$316 |
|
65 years old |
$2,540 |
$790 |
Why Young Adults Pay Less for Term Life Insurance
Life insurance is more affordable for younger individuals due to several factors. Younger applicants typically have better health and a lower risk profile, leading to lower term life insurance rates.
This isn’t age discrimination—it’s based on statistical analysis. Insurance companies use actuarial tables to estimate the likelihood of a policyholder passing away during a specific term. These models consistently show that mortality rates are lower for younger age groups, which is why premiums are more affordable for them.
Life Insurance Buying Mistakes to Avoid
Waiting Until You Have Kids
Delaying life insurance until you have children can cost you the chance to lock in a lower premium. Even if you don’t have dependents yet, life insurance can cover personal debts, medical bills, mortgage payments, lost wages, and funeral expenses. This helps relieve the financial burden on your partner or next of kin—and later, your future children.
Assuming You’ll Stay in Good Health
Your health is a key factor in determining term life insurance rates—the healthier you are, the lower your premium. That’s why buying coverage at a younger age can save you money. As you get older, the risk of health conditions like cancer or diabetes increases, leading to higher costs or even coverage denials. Getting life insurance early ensures protection for you and your loved ones, no matter what the future brings.
Relying on Employer-Sponsored Coverage
Employer-provided life insurance is a great perk, but it often falls short. Most plans only cover one to two times your salary, while experts recommend coverage around 10 times your income.
Another drawback? If you leave your job due to retirement, a layoff, or a career change, you’ll likely lose your policy. Finding new coverage later—especially with age or health issues—can be costly or challenging. Having your own policy ensures lasting protection for you and your loved ones, no matter where life takes you.
How to Get the Best Term Life Insurance Rates
Life insurance rates rise with age, but you can still take steps to lower your costs.
- Stay Healthy: Good health leads to lower premiums. Managing existing conditions before applying can help.
- Pick the Right Coverage: Choose an amount and term length that fit your needs to avoid overpaying.
- Quit Smoking: Smokers pay more, but going smoke-free can qualify you for lower rates over time.
Please note that all quoted prices are subject to change based on underwriting.
How DIY Works
DIY makes it simple to apply for life insurance that helps protect the people who matter most to you.
1
Select Your Plan
Pick the life insurance policy that fits you best. Not sure? You can adjust it after approval. Need help deciding? Try our coverage calculator.
2
Apply in Minutes
Once you’ve chosen a plan, fill out our quick online application with details about your age, health, and lifestyle. It’s simple, hassle-free, and takes just 10 minutes.
3
Get Coverage
After submitting your application, we’ll process it in real-time for a fast—often instant—decision. Once approved, you can activate your coverage right away, no medical exam required.
A+ Rated & Trusted by Leading Insurers
Backed by Top-Rated Insurance Providers. DIY partners with some of the largest and most trusted insurance companies, ensuring security and peace of mind. Our commitment to putting customers first is reflected in our excellent user ratings.
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"I never thought buying insurance could be this easy! DIY Insurance guided me through the entire process with a super user-friendly interface. I was able to compare policies and pick the best one within minutes. Highly recommended for beginners!"
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Always Ready to Assist
At DIY, we understand that life insurance is a big decision. That’s why our team of licensed, non-commissioned agents is always ready to answer your questions—without any pressure.