Key takeaways
If you're a healthy 20- to 40-year-old and wondering how much life insurance is per month, a 10-year, $250,000 term policy typically costs between $24 and $31*
Age, gender, smoking, and risky activities can increase or decrease your rate
What is the average cost of term life insurance?
A 10-year, $250,000 term life insurance policy typically costs between $24 and $31 per month on average for a healthy 20 to 40-year-old,* according to eFinancial.
The term life insurance rates by age chart below provides examples of the average term life insurance price for males and females ages 20 to 60, quoting a 10-year term policy through eFinancial. The average monthly life insurance rate is generally higher for men than for women.
| Age | Coverage amount: $250,000 |
|---|---|
| 20 years old | Coverage amount: $250,000Male: $16.10 | Female: $14.79 |
| 30 years old | Coverage amount: $250,000Male: $16.10 | Female: $15.01 |
| 40 years old | Coverage amount: $250,000Male: $18.92 | Female: $17.84 |
| 50 years old | Coverage amount: $250,000Male: $35.45 | Female: $31.97 |
| 60 years old | Coverage amount: $250,000Male: $77.43 | Female: $59.60 |
Note: Note: Quoted life insurance rates are based on actual monthly rates for male and female non-tobacco users for Fidelity Association's 10-year RAPIDecision Life policies with a face amount of $250,000, as of June 2026. RAPIDecision Life is available to people who are between the ages of 18 and 65.
What is the average cost of whole life insurance?
The average monthly cost of final expense insurance (a type of whole life insurance) ranges from about $95 to $263 for applicants ages 50 to 70, depending on age and gender, for $35,000 in coverage. Women typically pay less than men.
Since this final expense policy is only available starting at age 50, when health risks are already higher, rates can increase with age. Find your age and average rate in the whole life insurance rates by age chart:
| Age | Coverage amount: $35,000 |
|---|---|
| 50 years old | Coverage amount: $35,000Male: $125.18 | Female: $94.54 |
| 60 years old | Coverage amount: $35,000Male: $174.17 | Female: $135.68 |
| 70 years old | Coverage amount: $35,000Male: $263.42 | Female: $209.16 |
Note: Note: Quotes based on actual monthly rates for male and female non-tobacco users for Fidelity Association's RAPIDecision Final Expense policies for a face amount of $35,000, as of June 2026. Rates and products available may vary by state. All policies are subject to underwriting approval. RAPIDecision Final Expense is available to people who are between the ages of 50 and 85.
Why is there a difference in cost between whole life and term life insurance?
Since whole life insurance lasts for the policyholder's entire life and includes the benefit of a cash value component that builds over time, it usually costs more than term life insurance. But keep in mind that there are many different factors that determine your term or whole life insurance rate besides the type of policy you buy.
Who chooses whole life vs. term life insurance?
Whole life insurance may be a good fit for people who want permanent, lifelong coverage and can afford higher premiums.
Term life insurance may be a good fit for people who need a higher coverage amount for a specific period of time at a lower cost. This may include young families (often with kids, a mortgage, or other debts) and people who may need a large death benefit for a lower premium.
Learn more about the difference between term and permanent life insurance.
What factors influence life insurance cost?
Two of the biggest influences on life insurance rates are also the ones you can't control: age and gender. Generally, younger people pay less than older people because they're less likely to have health problems.
The cost of life insurance also tends to be more for males because they have shorter average lifespans and are more likely to have dangerous jobs or lifestyles, making them riskier to insure overall.
How much life insurance costs may also depend on:
- Your health: Insurers typically look at your height, weight, and medical history — especially any chronic or serious illnesses you've experienced. Standard policies require a medical exam before determining your eligibility, though there are some life insurance policies that don't require a medical exam.
- Tobacco use: Life insurance for smokers usually comes with higher rates than for non-smokers due to the number of medical conditions associated with smoking, including cancer.
- Hobbies: If you skydive or participate in amateur stock car racing, you might have higher premiums than someone who collects stamps. However, the activities insurers consider risky vary by company.
- Criminal history: DUIs, previous arrests, and other criminal convictions may affect your rate or even disqualify you from coverage with some insurers. Learn more about life insurance for those with felonies or criminal records.
- Occupation: As with hobbies, the riskier your job is, the more you could pay for life insurance. Police officers, firefighters, pilots, and construction workers are just a few of the occupations that may have higher rates.
- Financial history: Your actual credit score won't affect your premium, but any bankruptcies or other risk factors identified in your credit report may. Long periods of unemployment may also affect your rate or ability to get coverage.
- Coverage amount: As you'd expect, the amount of coverage you select will change your life insurance rate — more coverage means higher rates.
Have questions about the actual process of buying life insurance? Learn more about applying for and buying a life insurance policy.
Why might my life insurance quote differ from these averages?
Your life insurance quote may differ from the average because it's tailored to your specific needs and risk factors. You may want enough life insurance to help pay off your mortgage and other debts and replace your income for the years your family may need support.
If you have kids, you may also want to factor in the total cost of their tuition, whether it's for college or private K-12 school. Your coverage estimate may also consider potential funeral expenses, which vary based on services, location, and preferences.
See how affordable insurance can be. Get a customized life insurance quote today.
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