Published December 2, 2021
The Policygenius Life Insurance Price Index uses real-time rate data from leading life insurance companies to determine pricing trends. It’s designed to help the industry gauge market conditions and consumers get life insurance right.
For more on our methodology, see below.
This year is closing out with stable life insurance prices, even as news of the new coronavirus variant Omicron rattled life insurance stocks over Thanksgiving weekend. Stocks for prominent insurers fell from 3.5 to 5%, while a major reinsurer saw a steep decline of 9.58%. At the moment, consumers are not harmed by economic volatility caused by the new variant. Our data shows that all demographics saw a nominal decrease in pricing, with 25-year-old males buying $250,000 in coverage seeing the biggest decrease. Prices for this demographic dropped by 1.55%.
While insurers are monitoring current events, the pricing stability in December indicates that the focus remains on providing customers affordable rates.
The chart below shows average monthly premium prices for a 20-year term life insurance policy for non-smokers in a Preferred health classification; quotes are based on the Policygenius Life Insurance Price Index Methodology.
Age / Sex
$250K
Coverage Amount
$500K
Coverage Amount
$1M
Coverage Amount
25 years old
Female
$14.25
$21.05
$34.08
25 years old
Male
$17.24
$26.90
$44.83
35 years old
Female
$16.61
$25.45
$42.69
35 years old
Male
$18.97
$30.31
$51.77
45 years old
Female
$28.91
$47.52
$85.95
45 years old
Male
$35.63
$60.52
$112.95
55 years old
Female
$61.28
$108.02
$205.95
55 years old
Male
$85.70
$151.10
$287.24
The chart below shows average monthly premium prices for a 20-year term life insurance policy for smokers in a Preferred health classification; quotes are based on the Policygenius Life Insurance Price Index Methodology.
Age / Sex
$250K
Coverage Amount
$500K
Coverage Amount
$1M
Coverage Amount
25 years old
Female
$34.04
$57.25
$105.90
25 years old
Male
$42.45
$72.69
$135.62
35 years old
Female
$43.86
$76.97
$142.12
35 years old
Male
$53.00
$92.87
$176.32
45 years old
Female
$88.92
$162.56
$312.46
45 years old
Male
$120.87
$224.46
$431.70
55 years old
Female
$195.97
$361.71
$700.92
55 years old
Male
$283.74
$521.25
$1021.06
The prices displayed above are based on internal actuarial rate tables for 10 life insurance carriers that offer policies through the Policygenius marketplace. As of October 1, 2021, rates reflect the following 10 carriers: AIG, Banner Life, Brighthouse, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, SBLI, and TransAmerica. All months prior reflect the carriers listed above, with the inclusion of Principal.
The prices represent the average monthly life insurance premium for each sample customer profile (age, gender) and policy type (term, coverage amount) as of December 1, 2021. Monthly averages are based on 10 products available through Policygenius for the indicated profile; rates for those products may vary by state, and not all 10 products are available in all states. Individual rates may vary, depending on age, gender, state, health profile, and other eligibility criteria. The index is updated each month.
Life insurance prices are primarily based on life expectancy; taking into account an applicant’s age, health, hobbies, and medical history. The riskier you are to insure or the shorter your life expectancy, the higher your rates will be.
Prices are also affected by the length of a policy and the amount of coverage someone is looking to purchase. A longer policy term or higher coverage amount might increase monthly or annual premiums. Policygenius generally recommends people buy life insurance ten to 15 times their individual income with a term long enough to get them to retirement age. Since there are a lot of variables involved, we specialize in helping consumers get the right policy to fit their individual needs.
Policygenius is the nation’s leading online insurance marketplace, with headquarters in New York City and Durham, North Carolina. We’ve helped more than 30 million people shop for all types of insurance like they shop for everything else — online — and have placed over $100 billion in coverage. At Policygenius, shoppers can compare life insurance companies side-by-side in one place. We provide free quotes from the nation’s top life insurers. And, once someone formally submits an application, our licensed experts walk them through every step of the process.
Find your best life insurance prices today.