How much does life insurance cost?
Less than most people guess, for term. Far more, for kinds that last for life. These are survey averages, not quotes.
Written by William Litner, FCAS. Last updated November 3, 2026. Numbers: NerdWallet average rate tables, updated October 1, 2026 (guaranteed universal life: April 10, 2026), named in full below.
- Term costs less than most people guess, kinds that last for life cost far more, and the prices here are survey averages, not quotes.
- For $500,000 of term over 20 years, in good health with no smoking: age 30 pays about $15 to $18 a month, age 40 about $23 to $27, age 50 about $53 to $68.
- Age, the amount, the years, your health rating, and smoking move the price; the kind itself matters most of all.
Term: the survey averages
For $500,000 over 20 years, in good health, with no smoking. Women price at the low end of each range. Men price at the high end.
Age 30
About $15 to $18 a month.
Age 40
About $23 to $27 a month.
Age 50
About $53 to $68 a month.
Kinds that last for life: the survey averages
Whole life is priced at $500,000 here. Guaranteed universal life is priced at $100,000, the amount its survey prints.
Whole life, age 30
About $161 to $184 a month, for $500,000.
Whole life, age 40
About $237 to $265 a month, for $500,000.
Whole life, age 50
About $360 to $415 a month, for $500,000.
Guaranteed universal life, age 40
About $54 to $63 a month, for $100,000.
Guaranteed universal life, age 50
About $81 to $93 a month, for $100,000.
Guaranteed universal life, age 60
About $137 to $150 a month, for $100,000.
What moves your price
Your age
The biggest lever most families control. Prices climb as you age. The same coverage costs more at 45 than at 35.
The amount
Double the coverage does not quite double the price. Still, amount is a direct dial on the bill.
The years
A 30-year term costs more than a 20-year term. More covered years means more risk years priced in.
Your health rating
Insurers sort buyers into health ratings when they price. Better ratings pay less for the same policy.
Smoking
The survey tables above assume no smoking. Smoking raises the price a lot, on every kind.
The kind itself
Term rents the years. Life-long kinds hold coverage to the end of life. That promise is what costs more.
Why there is no quote form here
Plain questions, plain answers
Common questions
How much does life insurance cost?
For $500,000 of term over 20 years: age 30 pays about $15 to $18 a month. Age 40 pays about $23 to $27. Age 50 pays about $53 to $68. These are survey averages in good health, with no smoking, not quotes.
What changes the price of life insurance?
Your age, the amount, the years, your health rating, and smoking. The kind itself matters most of all: term costs the least, kinds that last for life cost far more.
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