The short version: age is the biggest driver of life insurance cost. A healthy 30-year-old nonsmoker typically pays around $33 a month for $500,000 of 20-year term coverage. At 50 it's about $118, and at 60 about $318. Smoking roughly triples the price.
Term life insurance rates by age
Average monthly premium for a $500,000, 20-year term policy:
| Age | Nonsmoker | Smoker | Smoker multiple |
|---|---|---|---|
| 25 | $31 | $86 | 2.8x |
| 30 | $33 | $92 | 2.8x |
| 35 | $38 | $117 | 3.1x |
| 40 | $50 | $179 | 3.6x |
| 45 | $78 | $277 | 3.6x |
| 50 | $118 | $426 | 3.6x |
| 55 | $190 | $663 | 3.5x |
| 60 | $318 | $1,007 | 3.2x |
| 65 | $593 | $1,528 | 2.6x |
Source: ValuePenguin, 2026 averages. Estimates only.
Notice how steep the curve gets. Moving from 35 to 45 roughly doubles the price. Moving from 45 to 55 more than doubles it again. That's why buying earlier locks in real savings.
Rates by coverage amount and gender
| Age | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|
| 30, male | $21 | $33 | $58 |
| 30, female | $18 | $28 | $49 |
| 40, male | $30 | $50 | $93 |
| 40, female | $25 | $41 | $76 |
| 50, male | $67 | $118 | $226 |
| 50, female | $52 | $92 | $173 |
20-year term, nonsmokers. Source: ValuePenguin, 2026. Estimates only.
Women generally pay less than men at the same age because of longer average life expectancy.
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Final expense rates by age
| Age | Women | Men |
|---|---|---|
| 50 | $30 | $38 |
| 55 | $36 | $46 |
| 60 | $42 | $53 |
| 65 | $50 | $66 |
| 70 | $64 | $84 |
| 75 | $87 | $113 |
| 80 | $125 | $164 |
| 85 | $155 | $203 |
Average monthly premium for a $10,000 final expense policy, nonsmoker in average health. Source: MoneyGeek, 2026. Estimates only.
What else affects your rate
- Health class: insurers sort applicants into classes like Preferred Plus, Preferred, Standard Plus, and Standard based on height and weight, blood pressure, cholesterol, and medical history. The gap between the best and a standard class can be large.
- Tobacco and nicotine: including vaping and, at many insurers, cigars and chewing tobacco.
- Family history: for example, a parent or sibling with heart disease or certain cancers before 60.
- Driving record and hobbies: DUIs, reckless driving, private flying, and some extreme sports.
- Term length and coverage: longer terms and bigger policies cost more in total, but larger policies often cost less per $1,000 of coverage.
Why these are estimates
Averages are useful for budgeting, but your price depends on the insurer's underwriting of your specific health and history. Two insurers can quote the same person very differently. The only way to know your real rate is to compare actual quotes.
Frequently asked questions
What is the average cost of life insurance?
At what age does life insurance get expensive?
Do rates go up every year?
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