Life insurance quotes: Compare and save

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What is life insurance?

Life insurance is an agreement between you (the policyholder) and the insurance company. You make monthly payments towards your policy, and your beneficiaries receive a tax-free payout if you die while your coverage is active.

→ Read more about what life insurance is and how it works

Do I need life insurance?

Is anyone going to struggle financially if you die? If the answer is yes, then you need to get life insurance coverage.

Learn more about who needs life insurance

How much do I need?

Our experts recommend getting coverage that equals 10 to 30 times your income so that your family has financial support for the long run.

Figure out how much life insurance you need

How do I buy it?

All it takes is a phone interview and a medical exam to get coverage. Some people can even get a policy without a medical exam.

Check out our guide to buying life insurance

What are the different types of life insurance?

There are many kinds of life insurance, but by far the most common ones are term and whole. Most people find term life insurance to be more practical, but the policy that’s best for you will depend on your individual circumstances.

→ Read more about the different types of life insurance
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Term life insurance

Term life insurance is the most affordable type of life insurance, with relatively low monthly rates. It lasts for a fixed period of time — typically 10 to 30 years, depending on your policy — but that’s all that most people need.

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Whole life insurance

​​Whole life insurance lasts your whole life and, in addition to a death benefit payout, it comes with a cash value that can be used as a savings vehicle to supplement your retirement. It’s best for people who have maxed out other investments.

How much does life insurance cost?

The cost of life insurance depends on many factors, including your age, health, and the specifics of your policy, but a healthy 35-year-old could expect to pay between $25 and $30 per month for a 20-year, $500,000 policy. It’s always better to buy sooner rather than later: Depending on your age, you add anywhere from 4.5% to 9.2% to your premium every year you wait to purchase a policy. We can help you compare life insurance quotes from top-rated companies to find the best policy for you — at your lowest price.

→ Read more about how much life insurance costs

Average term life insurance rates by age, January 2022

Age / Sex

$250K

Coverage amount

$500K

Coverage amount

$1M

Coverage amount

25 years old

Female

$14.23

$21.10

$34.16

25 years old

Male

$17.25

$27.03

$45.02

35 years old

Female

$16.61

$25.56

$42.91

35 years old

Male

$18.99

$30.44

$52.09

45 years old

Female

$29.00

$47.95

$86.87

45 years old

Male

$35.75

$61.05

$113.55

55 years old

Female

$61.46

$108.96

$208.04

55 years old

Male

$85.78

$152.23

$289.15

Methodology: The chart above reflects rates, as of January 1, 2022, for male and female non-smokers in a Preferred health classification with a 20-year term length. Rates are based on the monthly Policygenius Life Insurance Price Index. Prices in the index are determined by internal actuarial rate tables for 10 life insurance carriers that offer policies through the Policygenius marketplace: AIG, Banner Life, Brighthouse, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, SBLI, and TransAmerica.

What are the best insurance companies?

Protective, Banner Life, and Lincoln Financial are among our top-ranked insurance partners, but when it comes to life insurance, there’s no one-size-fits-all. The right policy for you depends on your individual needs and circumstances. That’s where we come in. As an independent insurance broker, we can give you reviews and recommendations of all the top insurance companies.

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The best life insurance companies

Our tl;dr top picks let you quickly find the insurer that fits your needs.

Life insurance company reviews

Read up on each insurer’s strengths with our deep-dive reviews.

How to buy life insurance

  1. Apply online.

    After you figure out how much coverage you need, you can fill out a simple health questionnaire to start the application process and get some preliminary quotes.

  2. Talk to an agent.

    An agent will walk through your background and gather any additional information to help determine which insurer will offer you the most affordable coverage. They’ll also advocate for you throughout the application process.

  3. Take a medical exam (or don’t).

    Insurers use the brief medical exam to verify the health information you provided and determine how much you pay for coverage. But some insurers will just check your previous medical records instead.

  4. Sign your policy and pay your first premium.

    Once you take this step, it’s official — you have life insurance. Sit back, relax, and make sure to update your policy to match your needs every few years.

Buying life insurance is easy with Policygenius

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Get free quotes tailored to your needs

We’re a marketplace — that means we partner with top life insurance companies to give you multiple quotes, so you can find the policy that’s right for you.

Get free advice from licensed agents

Our expert agents work for you, not the insurance companies. You can trust them to offer unbiased advice and help you understand all your options. (Learn more about how Policygenius makes money.)

Get support every step of the way

We’re here to advocate for you, and that doesn’t end when you buy your policy. Need to change your beneficiaries, or file a claim? We’ll help with that, too.

Policygenius customer reviews

The reviews are in. See what our current customers are saying about buying life insurance with us.

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