$500,000 Term Life Insurance Policy Rates
$500,000 Whole Life Insurance Policy Rates
| Age | Female | Male |
|---|---|---|
| 20 | $243 | $278 |
| 25 | $288 | $330 |
| 30 | $342 | $393 |
| 35 | $411 | $476 |
| 40 | $496 | $583 |
| 45 | $624 | $719 |
| 50 | $768 | $895 |
| 55 | $1,006 | $1,152 |
| 60 | $1,310 | $1,500 |
| 65 | $1,711 | $1,958 |
| 70 | $2,356 | $2,694 |
| 75 | $3,431 | $3,867 |
| 80 | $4,593 | $5,076 |
| 85 | $5,741 | $6,451 |
| Monthly rates are calculated at a preferred non-tobacco rating, rounded to the nearest dollar, and are valid as of 03/09/2026. | ||
$500,000 Universal Life Insurance Policy Rates
| Age | Female | Male |
|---|---|---|
| 20 | $114 | $134 |
| 25 | $114 | $135 |
| 30 | $130 | $160 |
| 35 | $173 | $213 |
| 40 | $220 | $266 |
| 45 | $267 | $334 |
| 50 | $316 | $397 |
| 55 | $366 | $459 |
| 60 | $484 | $621 |
| 65 | $602 | $784 |
| 70 | $958 | $1,377 |
| 75 | $1,337 | $1,987 |
| 80 | $1,975 | $2,954 |
| 85 | $3,035 | $4,355 |
| Monthly rates are calculated at a non-tobacco preferred rating, rounded to the nearest dollar, and are valid as of 03/09/2026. | ||
How Does Whole Life, Term Life And Universal Life Work?
There are significant differences between the types of life insurance. Knowing the ins and outs of each type of coverage will help you decide which one is right for you.
- Whole life insurance: Permanent coverage that is guaranteed to last forever. Also, the premiums are locked in and will not increase, nor will the death benefit decrease. Finally, the policy will accrue cash value. Every premium made will allocate a small portion into the cash value account. It also earns interest. As the cash value grows, you can withdraw the funds at any time and spend them however you wish.
- Term life insurance: Temporary life insurance coverage that is guaranteed to terminate after a defined period of time. The policy will last until you reach a certain age or for a number of years (such as 10, 15, or 20). When the policy ends, you’re not insured, and the insurer gets to keep the money you’ve paid.
- Universal life insurance: Permanent coverage that offers flexibility with regard to your premiums. Like whole life, it also builds cash value, which you can withdraw. With universal life, you must be careful not to pay too little or withdraw too much cash value, or you may lose the policy altogether later in life.
The ideal way to select the right policy is to choose the one optimally designed to achieve your objective. For example, if you only need coverage to pay for a mortgage, then you should seek term insurance.
It would not make sense (nor be necessary) to buy permanent coverage to cover a temporary need.
Factors That Determine The Cost Of A Life Insurance Policy
The cost of a life insurance policy is generally based on the following variables:
- Gender: Men will pay more for life insurance (except in the state of Montana) than women because, on average, women have a longer life expectancy. Men should expect to pay roughly 30% more than women.
- Age: The older you are, the higher the price.
- Type of policy: This is a major factor that influences the price. Term life policies will always cost the least. Universal life will cost more than term life, and whole life will always be the most expensive.
- Underwriting type: If you take a medical exam, it will usually lead to lower prices. No-exam options will cost more because the insurer takes on more risk by not having a recent blood test or your actual medical records.
- Health: Your current or prior health conditions can significantly impact your eligibility and the cost. Most common minor health issues, such as high cholesterol or blood pressure, are not a concern. However, significantly high-risk health conditions such as cancer, heart attacks, or strokes will majorly impact your options and the premium.
- Tobacco or nicotine habits: If you use non-cigarette tobacco or nicotine, some insurers will not charge you a higher premium (although most will). However, if you smoke cigarettes, expect to pay 60-100% more since cigarettes dramatically lower a person’s life expectancy.
- Lifestyle: If you currently use illegal drugs, you will be declined. If you engage in high-risk hobbies such as skydiving or rock climbing, you will qualify, but expect higher prices.
- Amount of coverage: The more coverage you buy, the higher the price.
- Nationally licensed life insurance agent with over 16 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 16 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 20 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 20 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 15 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 15 years of experience. He has personally helped more than 15,000 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 20 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 20 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 15 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 15 years of experience. He has personally helped more than 15,000 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.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.
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life expectancy. https://www.ssa.gov/oact/STATS/table4c6.html
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cigarettes dramatically lower a person’s life expectancy. https://archive.cdc.gov/#/details?url=https://www.cdc.gov/tobacco/data_statistics/fact_sheets/health_effects/tobacco_related_mortality/index.htm
