$10,000 Whole Life Insurance Policy Rates
Whole life insurance is a type of permanent life insurance that will never expire. It guarantees that the premium will never change and the death benefit won’t decrease.
Additionally, it will build cash value, which you can borrow and use any time you want.
| Age | Female | Male |
|---|---|---|
| 40 | $21 | $23 |
| 45 | $23 | $26 |
| 50 | $24 | $31 |
| 55 | $28 | $36 |
| 60 | $33 | $43 |
| 65 | $41 | $54 |
| 70 | $53 | $70 |
| 75 | $71 | $97 |
| 80 | $98 | $134 |
| 85 | $136 | $193 |
| 86 | $171 | $236 |
| 87 | $206 | $277 |
| 88 | $239 | $317 |
| 89 | $260 | $357 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 02/26/2025. | ||
$10,000 Guaranteed Acceptance Life Insurance Policy Rates
With a guaranteed acceptance policy, there are no health questions or exams. Because approval is guaranteed, there is a two-year waiting period. Death in the first two years will only result in a refund of your payments plus interest (typically 10%). Guaranteed issue policies are always a type of whole life insurance.
| Age | Female | Male |
|---|---|---|
| 45 | $28 | $36 |
| 50 | $30 | $40 |
| 55 | $38 | $45 |
| 60 | $43 | $57 |
| 65 | $50 | $69 |
| 70 | $64 | $87 |
| 75 | $89 | $113 |
| 80 | $127 | $157 |
| 85 | $158 | $193 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are for Mutual of Omaha's guaranteed acceptance whole life policy, rounded to the nearest dollar, and are valid as of 02/19/2025. | ||
$10,000 Term Life Insurance Policy Rates
A term life policy is a form of temporary life insurance (hence the name “term”). The policy lasts for a limited number of years, such as 5, 10, 20, or 30, or it may last until a certain age, such as 65 or 80. As a general rule, term policies will terminate around age 80.
Once the policy ends, you’re no longer insured and won’t get a refund of your premiums. Depending on the company, the price may change as you age or remain the same. For example, Globe life term policies have a price increase every five years.
| Age | Female | Male |
|---|---|---|
| 50 | $13 | $19 |
| 55 | $16 | $24 |
| 60 | $20 | $30 |
| 65 | $25 | $40 |
| 70 | $31 | $53 |
| 75 | $41 | $71 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 02/19/2025. | ||
Best Companies For A $10,000 Life Insurance Policy
- $10K Policy Cost $41.01/month*
- New Applicant Ages 45-85
- Death Benefit Options $2,000-$50,000
- 2-Year Waiting Period No
- $10K Policy Cost $55.00/month*
- New Applicant Ages 45-85
- Death Benefit Options $3,000-$25,000
- 2-Year Waiting Period Yes
- $10K Policy Cost $51.10/month*
- New Applicant Ages 18-85
- Death Benefit Options $5,000-$100,000
- 2-Year Waiting Period No
How Your Health Factors Into The Cost
Most $10,000 life insurance plans will be a type of final expense insurance, and there are two basic options:
- With health questions: You must complete a health questionnaire to qualify (no required exam). Your eligibility is based on your prior medical history. You could either get approved, declined, or offered a plan with a partial or complete waiting period. How you answer the questions determines the final cost. For example, expect to pay 30-40% more if you respond with a “yes” answer to the question about tobacco usage.
- No health questions: Your approval is guaranteed, but the premiums are more expensive, and there is a two-year waiting period. Any tobacco usage or prior health issues will not change the premium.
To get the lowest price and coverage with no waiting period, you must apply for a policy that involves answering questions about health.
Understand that burial insurance for seniors has very lenient underwriting. Most seniors can still qualify for a no waiting period policy despite previous health issues.
Speaking with a licensed insurance agent who can compare multiple providers to find you the best price is highly advisable.
Frequently Asked Questions
Yes, $10,000 is enough coverage to pay for a funeral. According to the NFDA, a typical burial service will cost $9,995. Granted, your funeral preference may be such that the price can be higher or lower. But based on the average figures, $10K will get the job done.
Mutual of Omaha offers very low prices, but they may or may not be your best option, depending on your circumstances. Every company accepts and rejects different health issues, so comparing multiple companies is essential before settling on one.
- Nationally licensed life insurance agent with over 15 years of experience
- Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.
Anthony Martin is a nationally licensed insurance expert with over 15 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.
- Nationally licensed life insurance agent with over 19 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.
- Nationally licensed life insurance agent with over 14 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 1500 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.
- Nationally licensed life insurance agent with over 19 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.
- Nationally licensed life insurance agent with over 14 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 1500 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.
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NFDA. https://nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral
