Life Insurance Quotes: Compare Rates Online in Minutes
Learn what life insurance costs, what drives your rate, and how to find the right coverage for your family’s budget.
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Written byBen Luthi
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Ben Luthi
Ben Luthi has been writing about personal finance for over a decade with the intent to help people improve their finances and lifestyle. He’s covered just about every personal finance topic under the sun for a variety of publications, including the Wall Street Journal, Fortune Recommends, Yahoo Finance, Experian, Credit Karma, NerdWallet, and many more. Ben lives near Salt Lake City with his two kids and two cats.
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Edited byBecky Helzer
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Becky Helzer is an editor at Insurify. She loves helping writers express their ideas clearly and authentically. With a diverse background in editing everything from curriculum and books to magazine articles and blog posts, she’s worked on topics ranging from home finance, insurance, and cloud computing to the best tools for home improvement.
A proud graduate of Colorado State University with a degree in technical journalism, Becky lives in Fort Collins, CO, with her husband and their two spoiled rescue dogs.
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Table of contents
Life insurance provides financial protection for your loved ones after you pass away. It’s designed to replace your income and cover mortgage payments, child care, and education costs.
Getting multiple life insurance quotes is essential for finding the best rates and coverage options, as premiums can vary significantly between insurance companies. Although life insurance can be surprisingly affordable, many people overestimate its costs.
In fact, a recent LIMRA study found that young adults ages 18 to 30 estimate that coverage costs more than 10 times the actual median cost.[1] Even among adults ages 36 to 40, estimates were roughly double the median cost of coverage.
Read on for guidance about the comparison process, how quotes work, and what drives your premiums.
How to get life insurance quotes online
Shopping for life insurance online speeds up the application process and allows you to compare rates from multiple insurers more efficiently.
The process typically involves five key steps that can be completed in minutes, giving you instant access to competitive rates and coverage options.
Step 1
Decide how much life insurance you need to protect your family.
Step 2
Use a life insurance comparison site to get multiple quotes.
Step 3
Choose between term insurance and permanent coverage based on your needs and budget.
Step 4
Compare prices for the same type and amount of coverage.
Step 5
Complete an application with your chosen insurer.
Best way to get life insurance quotes
You can get life insurance quotes online in three different ways. Each method offers various advantages for comparing rates and coverage options. Understanding how each platform works will help you choose the most effective approach for your situation.
Insurer websites allow you to get quotes directly from specific insurance companies. They also provide detailed information about a company’s products and underwriting guidelines. Companies like State Farm, Protective Life, and Transamerica offer online quote tools that give you immediate rate estimates based on your profile.
ProsDirect access to company-specific rates and products
No middleman fees or commission markup
Complete control over your information and application
ConsLimited to one insurer’s products and rates per visit
Time-consuming to compare multiple companies
May miss competitive offers from other insurers
Insurance marketplaces like SelectQuote consolidate quotes from multiple insurance companies. This allows you to compare rates side by side without having to visit individual insurer websites. Comparison platforms work with numerous insurance companies to provide comprehensive coverage options.
ProsCompare multiple insurers simultaneously
Save time with a single application process
Access professional guidance and recommendations
ConsMay not include all available insurers
Potential for sales pressure from agents
Limited customization of specific policy features
Lead-generation platforms collect your basic information and connect you with insurance agents who provide personalized quotes and recommendations. These sites focus on matching you with agents rather than providing direct rate comparisons.
ProsPersonal consultation with licensed agents
Customized recommendations based on needs
Help navigating complex underwriting guidelines
ConsMultiple agents may contact you persistently
Quotes may take longer to receive
Less control over the comparison process
How life insurance quotes work
To get a life insurance quote, you’ll need to provide some basic information about your age, health condition, lifestyle, and desired coverage amount to an insurer or insurance marketplace.
This data flows through the insurer’s underwriting algorithm, which evaluates your risk profile. The algorithm then generates an initial rate estimate based on the insurer’s underwriting guidelines.
But these initial quotes are just estimates: They can change after the formal application and medical exam process. Insurance companies use medical exams, medical records, and other health information to finalize your risk classification and determine your premiums.
Providing honest and accurate information during the quote process is crucial for receiving realistic rate estimates. Also, misrepresenting your health or lifestyle can lead to denied claims.[2]
One appealing aspect for online shoppers is that some insurance policies may not require a medical exam if they offer less than specific coverage amounts. That means faster approval and immediate coverage decisions.
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Average monthly quotes for life insurance in 2025
Life insurance falls into two main categories: term life insurance and permanent coverage (often called whole life insurance).[3] Term insurance provides coverage for a specific period — typically 10 to 30 years — and offers lower premiums but no cash value component.
Permanent coverage lasts your entire lifetime and costs significantly more than term insurance. But it also builds cash value you can access during your lifetime, acting as insurance coverage and an investment vehicle.[4]
Average monthly quotes for term life insurance
The following tables show average monthly premiums for $1 million term life insurance policies for different ages and term lengths:
Age  | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| 25 | $18 | $29 | $46 |
| 35 | $19 | $33 | $63 |
| 45 | $43 | $84 | $145 |
| 55 | $121 | $216 | $449 |
Source: Insurify partner SelectQuote provided these averages based on 10-year, 20-year, and 30-year term policies from one or more of the companies SelectQuote represents. Rates are for men and women in excellent health. Premiums may vary depending on individual health, issuing company, and other factors.
Age | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| 25 | $15 | $22 | $34 |
| 35 | $16 | $28 | $50 |
| 45 | $37 | $66 | $113 |
| 55 | $90 | $157 | $317 |
Source: Insurify partner SelectQuote provided these averages based on 10-year, 20-year, and 30-year term policies from one or more of the companies SelectQuote represents. Rates are for men and women in excellent health. Premiums may vary depending on individual health, issuing company, and other factors.
Average monthly quotes for whole life insurance
Here’s a look at the average rates for a $1 million whole life insurance policy based on age and gender.
Age | Average Monthly Cost |
|---|---|
| 25 | $235 |
| 35 | $324 |
| 45 | $485 |
| 55 | $723 |
Source: Insurify partner SelectQuote provided these averages based on whole life policies from one or more of the companies SelectQuote represents. Rates are for men and women in excellent health. Premiums may vary depending on individual health, issuing company, and other factors.
Age | Average Monthly Cost |
|---|---|
| 25 | $193 |
| 35 | $267 |
| 45 | $395 |
| 55 | $602 |
Source: Insurify partner SelectQuote provided these averages based on whole life policies from one or more of the companies SelectQuote represents. Rates are for men and women in excellent health. Premiums may vary depending on individual health, issuing company, and other factors.
Types of life insurance and how they affect quotes
Different types of life insurance come with varying features and risks, all of which directly affect your insurance policy’s premium and your coverage options.
Cost ranges can vary significantly by age, gender, policy length, and coverage amount, so it’s essential to understand each policy’s unique characteristics.
The table below shows a comparison of each option:
Policy Type | Duration | Monthly Quote Range | Best For |
|---|---|---|---|
| Term | 10–30 years | $8–$449 | Affordable, effective coverage |
| Whole | Lifetime | $64–$723 | Guaranteed cash value growth |
| Universal | Lifetime | Too many variables to provide a range | Flexible premiums and coverage |
| Guaranteed | Lifetime | $6–$480 | Simplified underwriting for seniors |
| Variable | Lifetime | Too many variables to provide a range | Investment growth potential |
| Indexed universal life | Lifetime | Too many variables to provide a range | Limited investment growth potential with guaranteed minimum |
| Group life | Varies | Free for 1x–2x your annual salary | Free or low-cost basic coverage |
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Factors that affect your life insurance quote
Beyond the policy type and insurance companies you choose, numerous personal factors influence your life insurance premiums. These are key factors to be aware of:
Age
Younger applicants pay lower premiums since life expectancy decreases with age.
Gender
Women typically pay lower rates due to a longer average life expectancy.
Health/medical history
Current health conditions and prescription medications directly affect your risk classification and premium costs.
Family medical history
Genetic predispositions to heart disease or cancer influence underwriting decisions.
Tobacco use
Smokers pay significantly higher rates — often double what non-smokers pay.
Policy length
Longer-term policies cost more monthly but lock in rates.
Coverage amount
Higher death benefit amounts result in proportionally higher premiums.
Lifestyle
High-risk hobbies and dangerous occupations can increase premiums significantly.
Credit history
A poor credit history may indicate a higher mortality risk to insurers.
Driving record
Multiple violations suggest risky behavior that could influence rates.
How Much Life Insurance Do You Need?
You can use a variety of methods to calculate how much life insurance you need. Some experts may recommend a certain multiple of your income. Others may suggest a needs-based approach that considers annual income, outstanding debts, future expenses like college tuition, and your family’s ongoing financial needs.
5 tips for getting cheap life insurance quotes
Taking proactive steps can help you secure more affordable life insurance while maintaining adequate coverage for your family’s protection and financial security. The following tips can help you save:
Compare quotes from multiple insurers.
Buy coverage while you’re young and healthy.
Opt for annual premiums to take advantage of discounts.
Take care of your physical and mental health.
Consider a cheaper term life policy if you’re on a budget.
Life insurance quotes FAQs
If you’re shopping for a life insurance policy, check out the additional information below to help you find coverage that’s right for you.
What site is best for getting life insurance quotes?
No single website can offer the best life insurance quotes for everyone. But comparison websites like Insurify and Compare.com can make it easier to obtain quotes from multiple insurers with a single form.
Which are the best term life insurance companies?
Because every insurer takes a different approach to risk evaluation, coverage options, and rates, you won’t find one company that offers the best coverage for everyone. Some of the top life insurance companies include State Farm, Protective Life, Transamerica, and Corebridge Financial.
How much does a $1 million life insurance policy cost per month?
Ultimately, life insurance costs depend on your age, gender, health status, and other factors. But you’ll generally pay $15–$449 per month for term coverage and $193–$723 per month for whole life insurance.
Which is better, term life insurance or whole life insurance?
Term life insurance offers affordable temporary protection that’s ideal for young families on a budget. Whole life insurance provides permanent coverage with cash value accumulation but costs significantly more for equivalent death benefit amounts. The better option depends on your coverage needs and budget.
Do you pay taxes on life insurance?
Death benefit payouts to beneficiaries are generally tax-free. Your beneficiaries may owe taxes on interest earned if they opt for deferred payments.[5]
Sources
- LIMRA. "Adults Age 30 and Younger Overestimate Life Insurance Cost by 10–12 Times."
- National Association of Insurance Commissioners. "Claim Complaints: What to do if you're having trouble with your insurance claim."
- Insurance Information Institute. "What are the principal types of life insurance?."
- Insurance Information Institute. "What are the different types of permanent life insurance policies?."
- IRS. "Life insurance & disability insurance proceeds."
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Ben Luthi
Ben Luthi has been writing about personal finance for over a decade with the intent to help people improve their finances and lifestyle. He’s covered just about every personal finance topic under the sun for a variety of publications, including the Wall Street Journal, Fortune Recommends, Yahoo Finance, Experian, Credit Karma, NerdWallet, and many more. Ben lives near Salt Lake City with his two kids and two cats.
Becky Helzer is an editor at Insurify. She loves helping writers express their ideas clearly and authentically. With a diverse background in editing everything from curriculum and books to magazine articles and blog posts, she’s worked on topics ranging from home finance, insurance, and cloud computing to the best tools for home improvement.
A proud graduate of Colorado State University with a degree in technical journalism, Becky lives in Fort Collins, CO, with her husband and their two spoiled rescue dogs.
