Published September 15, 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.
As September marks Life Insurance Awareness Month, it’s a great time to consider purchasing coverage. Prices remain low and some insurers have dropped application restrictions that they had implemented at the start of the pandemic.
Pricing stability also continues to be an ongoing trend, regardless of the economic impact of COVID-19. There were no significant changes to life insurance prices from August to September, even with a resurgence of COVID-19 cases, hospitalizations, and deaths across the U.S. due to the Delta variant.
Prices remained static despite a new report from the Social Security and Medicare Trustees that projects mortality rates will be elevated by 15% this year because of the pandemic. The report also forecasts that mortality rates across the country will be higher than usual through 2023, when they are expected to fall to 1% higher than pre-pandemic levels.
This is just one of many reports released by the federal government this year that cites the pandemic as the cause of increased deaths and shorter life expectancies for Americans. Insurers haven’t responded to previous reports with pricing changes, either.
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
$21.14
$34.31
25 years old
Male
$17.17
$27.00
$44.90
35 years old
Female
$16.54
$25.47
$42.75
35 years old
Male
$18.78
$30.37
$51.87
45 years old
Female
$28.49
$47.53
$86.15
45 years old
Male
$35.39
$60.76
$113.52
55 years old
Female
$60.42
$108.17
$206.22
55 years old
Male
$84.20
$151.54
$287.11
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
$35.23
$59.72
$110.74
25 years old
Male
$43.63
$74.84
$139.01
35 years old
Female
$45.07
$79.46
$145.98
35 years old
Male
$53.79
$94.80
$179.27
45 years old
Female
$90.80
$166.52
$318.66
45 years old
Male
$122.68
$228.56
$439.72
55 years old
Female
$200.33
$371.91
$717.86
55 years old
Male
$291.19
$536.46
$1039.87
The prices displayed above are based on internal actuarial rate tables for eleven life insurance carriers that offer policies through the Policygenius marketplace (AIG, Banner Life, Brighthouse, Lincoln Financial, Mutual of Omaha, Pacific Life, Principal, Protective, Prudential, SBLI and TransAmerica).
The prices represent the average monthly life insurance premium for each sample customer profile (age, gender) and policy type (term, coverage amount) as of September 1, 2021. Monthly averages are based on 11 products available through Policygenius for the indicated profile; rates for those products may vary by state, and not all 11 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.