Comparing Life Insurance Rates for 2023
Taking advantage of life insurance comparison rates can be an easy way to save money on life insurance. Many different companies offer life insurance rates comparisons that can be generalized or customized. Personalized insurance quotes are typically the most accurate and can help you find the most affordable life insurance company based on your personal situation.
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Written by
Daniel Walker |
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Reviewed by
Daniel Walker
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UPDATED: Jun 28, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 28, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- There are many options for life insurance rates comparisons
- Many sources offer generalized life insurance rates, but the most accurate quotes will be individualized based on your situation
- Once you receive your life insurance quotes, be sure the insurance company is highly rated
If you’re shopping for life insurance, you can save time and money by reading comparison rates from life insurance comparison sites. Using comparison sites is much easier than getting quotes from one company at a time.
In this article, we’ll go over how to find insurance comparison rates, and we’ll also show you some sample life insurance rates.
Enter your ZIP code above to get started with free quotes from the top life insurance companies in your area.
Where can I get the best insurance rates comparison?
Many companies offer insurance rates comparisons. Be aware some differences exist between the best insurance comparison sites depending on the type of insurance.
For example, you’d likely want to use different sites to compare car insurance rates and life insurance rates. Some comparison sites cover multiple forms of insurance.
These sites can be useful resources when shopping for life insurance rates. Only Progressive Insurance compares its rates with other companies on its website.
Which comparison site is best for car insurance? That depends on your needs, but we can help you with life insurance rate comparisons right here
How do I get the best insurance comparison rates?
Your life insurance rates depend on a number of factors such as your age, job, gender, and health. Most policies will require a questionnaire that helps predict your life insurance rates.
You must be honest on the application to get accurate quotes. If you say you’re active and healthy but something comes up on your life insurance medical exam, your rates will increase. Worse, lying can mean you are turned down entirely.
Otherwise, you’ll want to compare different policy options and as many reputable companies as possible. You’ll want to shop rates for term life insurance, whole life insurance, and burial insurance.
Each of these comes at a different price point and offers different features that may or may not be useful for you. You might also want to determine how much life insurance you need with a life insurance calculator.
How much can I expect to pay for life insurance?
To get the most accurate rates, you’ll need to get personalized quotes from various companies. Most of the life insurance rates comparison sites do this in one step.
The amount you pay for life insurance depends on many factors. Many people choose term life insurance because it offers a significant death benefit at a reasonable monthly cost.
The chart below shows rates that vary by age and gender among five top-rated companies as measured by market share, according to the Insurance Information Institute.
| Age | Lincoln National | Prudential | Transamerica | MassMutual | Principal |
|---|---|---|---|---|---|
| 25 | $13.15 | $19.03 | $13.98 | $15.00 | $13.78 |
| 30 | $13.22 | $20.35 | $15.48 | $15.23 | $14.00 |
| 35 | $13.85 | $20.78 | $19.14 | $15.88 | $14.22 |
| 40 | $17.94 | $24.50 | $26.66 | $20.68 | $18.55 |
| 45 | $27.85 | $29.97 | $35.26 | $32.40 | $28.13 |
| 50 | $40.82 | $45.50 | $50.96 | $47.63 | $40.86 |
| 55 | $63.79 | $71.53 | $78.05 | $73.73 | $63.83 |
| 60 | $109.80 | $129.07 | $113.95 | $125.73 | $109.81 |
| 65 | $222.25 | $242.60 | $208.55 | $243.18 | $206.06 |
Note that men pay more for term life insurance as they get older. For non-smokers, Lincoln National and Principal are almost always the most affordable options.
| Age | Lincoln National | Prudential | Transamerica | MassMutual | Principal |
|---|---|---|---|---|---|
| 25 | $11.56 | $16.41 | $11.40 | $13.48 | $12.12 |
| 30 | $11.75 | $17.28 | $13.55 | $13.70 | $12.42 |
| 35 | $12.19 | $17.72 | $17.20 | $13.93 | $12.86 |
| 40 | $15.60 | $22.53 | $21.93 | $17.83 | $16.19 |
| 45 | $22.49 | $29.10 | $28.60 | $26.33 | $22.93 |
| 50 | $31.42 | $40.03 | $41.93 | $36.33 | $32.07 |
| 55 | $46.95 | $53.82 | $65.15 | $57.43 | $46.99 |
| 60 | $82.47 | $89.91 | $110.51 | $89.18 | $77.18 |
| 65 | $168.39 | $155.75 | $198.23 | $156.60 | $138.25 |
For female non-smokers, the same trends are true. You might notice that females tend to spend less on life insurance than males. The cheapest rate for females is $11.40 per month compared to $13.15 for men.
These rates can change drastically for those who have health issues or those who use tobacco products. Below, you’ll see sample rates from the same companies for smokers.
| Age | Lincoln National - Male | Lincoln National - Female | Prudential - Male | Prudentail - Female | Transamerica - Male | Transamerica - Female | MassMutual - Male | MassMutual - Female | Principal - Male | Principal - Female |
|---|---|---|---|---|---|---|---|---|---|---|
| 25 | $43.10 | $33.26 | $43.97 | $35.22 | $35.26 | $30.10 | $42.20 | $35.23 | $46.59 | $37.41 |
| 30 | $48.13 | $37.41 | $46.38 | $38.28 | $39.13 | $31.80 | $46.33 | $37.20 | $50.95 | $42.55 |
| 35 | $58.41 | $43.32 | $51.19 | $45.72 | $46.01 | $39.35 | $55.48 | $46.55 | $55.78 | $48.56 |
| 40 | $94.29 | $75.04 | $78.32 | $63.00 | $69.88 | $59.77 | $77.23 | $63.50 | $77.99 | $62.34 |
| 45 | $131.91 | $87.07 | $122.94 | $90.35 | $107.72 | $80.63 | $126.15 | $95.70 | $125.78 | $95.81 |
| 50 | $204.54 | $132.13 | $178.72 | $136.72 | $169.42 | $129.65 | $185.30 | $139.20 | $199.20 | $138.60 |
| 55 | $356.78 | $220.78 | $271.69 | $194.69 | $270.47 | $187.05 | $281.45 | $206.63 | $317.84 | $201.91 |
| 60 | $605.28 | $373.84 | $419.57 | $293.40 | $402.91 | $291.54 | $430.42 | $318.85 | $510.47 | $305.81 |
| 65 | $948.50 | $596.75 | NA | NA | $646.94 | $524.17 | $588.13 | $505.70 | $822.28 | $566.56 |
For smokers, you can almost instantly notice that the rates are significantly higher. While Lincoln National was one of the most affordable options for non-smokers, they are one of the more expensive options for smokers.
Conversely, Transamerica offers affordable life insurance rates for smokers. This is a great example of why you should get a personalized life insurance rates comparison to avoid overpaying.
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Term life insurance is one the most common life insurance policies, but in some scenarios, whole life insurance is a preferred option. Whole life insurance can higher monthly premiums.
| Non-Smoker Age & Gender | Foresters Financial – $250,000 Policy | State Farm – $250,000 Policy | Foresters Financial – $500,000 Policy | State Farm – $500,000 Policy |
|---|---|---|---|---|
| 25-Year-Old Female | $156.80 | $203.14 | $304.24 | $400.19 |
| 25-Year-Old Male | $178.68 | $225.12 | $347.99 | $444.14 |
| 30-Year-Old Female | $188.96 | $234.24 | $368.11 | $462.39 |
| 30-Year-Old Male | $216.52 | $260.14 | $422.80 | $514.19 |
| 35-Year-Old Female | $230.52 | $273.19 | $450.36 | $540.29 |
| 35-Year-Old Male | $267.05 | $311.47 | $522.55 | $616.84 |
| 40-Year-Old Female | $277.99 | $321.24 | $543.99 | $636.39 |
| 40-Year-Old Male | $326.33 | $375.62 | $639.80 | $745.14 |
| 45-Year-Old Female | $349.30 | $381.29 | $685.30 | $756.49 |
| 45-Year-Old Male | $401.58 | $467.84 | $788.99 | $929.59 |
| 50-Year-Old Female | $429.14 | $470.02 | $843.68 | $933.94 |
| 50-Year-Old Male | $499.36 | $578.12 | $982.80 | $1,150.14 |
| 55-Year-Old Female | $549.89 | $598.79 | $1,082.55 | $1,191.49 |
| 55-Year-Old Male | $629.30 | $727.97 | $1,239.61 | $1,449.84 |
| 60-Year-Old Female | $700.83 | $769.94 | $1,381.36 | $1,533.79 |
| 60-Year-Old Male | $802.33 | $988.97 | $1,582.18 | $1,971.84 |
| 65-Year-Old Female | $912.58 | $1,045.09 | $1,800.93 | $2,084.09 |
| 65-Year-Old Male | $1,043.61 | $1,310.87 | $2,060.36 | $2,615.64 |
Whole life insurance includes a cash value component which is a big reason for the large increase in monthly premiums. A portion of your monthly premium is allocated to a separate fund on your behalf.
State Farm and Foresters Financial are two notable companies that offer reliable life insurance products. Both companies offer whole life insurance.
| Age | Transamerica - Male | Transamerica - Female | Foresters Financial - Male | Foresters Financial - Female | AIG - Male | AIG - Female |
|---|---|---|---|---|---|---|
| 40 | $34.25 | $28.87 | NA | NA | NA | NA |
| 45 | $38.95 | $32.19 | NA | NA | NA | NA |
| 50 | $44.31 | $36.20 | $46.42 | $37.50 | $76.89 | $52.74 |
| 55 | $52.21 | $42.00 | $53.72 | $45.16 | $84.35 | $63.85 |
| 60 | $63.93 | $48.79 | $66.20 | $51.54 | $93.75 | $74.03 |
| 65 | $83.00 | $60.65 | $82.04 | $62.62 | $125.23 | $91.35 |
| 70 | $110.20 | $79.20 | $107.78 | $78.55 | $146.27 | $110.78 |
| 75 | $148.26 | $107.55 | $152.46 | $111.04 | $206.83 | $159.75 |
| 80 | $208.55 | $154.38 | $218.53 | $165.05 | $368.66 | $262.13 |
Not everyone needs a large death benefit. For those who just want to avoid leaving a financial burden on their family with funeral expenses, final expense or burial insurance could be a more reasonable option.
You’ll see that these rates can still vary drastically and the policies often come with restrictions regarding age and coverage. When compared to other policy types for similar age groups, final expense insurance can be more affordable.
Taking the Next Step After Getting Insurance Comparison Rates
Regardless of the site you choose, you’ll want to be aware that the quotes you receive aren’t the only factor you should consider before you buy a life insurance policy.
Look into a company’s financial strength ratings, customer satisfaction ratings, and any complaints the company fields. Organizations that provide financial ratings and customer reviews are:
- A.M. Best
- J.D. Power
- Moody’s
- Standard & Poor’s (S&P)
- Fitch
- Better Business Bureau (BBB)
- National Association of Insurance Commissioners (NAIC)
Most popular life insurance companies have reviews on our website where you can find all of these resources in one place.
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Life Insurance Comparison Rates: The Bottom Line
Comparing life insurance rates is an effective means of saving a small fortune on life insurance. Getting personalized rates can help you choose the most affordable and reliable life insurance company based on your needs.
By now, you should have an idea of how to optimize your life insurance comparison rates. Before you go, enter your ZIP code below to get free quotes from leading life insurance companies in your area.
Compare Insurance Providers Rates to Save Up to 75%
Secured with SHA-256 Encryption
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
|
Written by
Daniel Walker |
|
Reviewed by
Daniel Walker
|