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By

Katherine MurbachEditor & Licensed Life Insurance AgentKatherine Murbach is a life insurance and annuities editor, licensed life insurance agent, and former sales associate at Policygenius. Previously, she wrote about life and disability insurance for 1752 Financial, and advised over 1,500 clients on their life insurance policies as a sales associate.&Antonio Ruiz-CamachoAssociate Content DirectorAntonio is a former associate content director who helped lead our life insurance and annuities editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.

Edited by

Adam MorganAdam MorganEditorial DirectorAdam Morgan is an editorial director at Policygenius who leads the life insurance and annuities team. Previously, he led editorial teams matrixed across multiple financial publications at Red Ventures — including Bankrate, NextAdvisor, Million Mile Secrets, and others. As a journalist, his work has appeared in Esquire, Scientific American, The Guardian, Los Angeles Times, and elsewhere.
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Reviewed by

Maria FilindrasMaria FilindrasFinancial AdvisorMaria Filindras is a financial advisor, a licensed Life & Health insurance agent in California, and a member of the Financial Review Council at Policygenius.

Updated

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money.

Comparing quotes from multiple life insurance companies is the best way to find the most affordable policy that meets your needs. Due to federal regulations, no company, broker, or agent can offer you a discount on life insurance — but since each insurer calculates risk differently, the cost you pay will be cheaper with some companies and more expensive with others.

What is a life insurance quote?

Life insurance is the best way to provide a financial safety net for your loved ones in the event of your death. After signing a contract, you make regular payments to an insurance company. In exchange, the insurance company will pay a tax-free sum of money to your loved ones if you die while your policy is active.

A life insurance quote is an estimate of how much you’ll pay for a policy based on your age, income, health history, and other factors. Every insurance company calculates quotes differently, so cost estimates can vary widely across insurers.

How to compare life insurance quotes

1. Decide where to get life insurance quotes

You can choose between three options for comparing quotes.

  • Online marketplaces like Policygenius let you compare life insurance quotes from multiple companies, find the most affordable option that meets your coverage needs, and purchase a policy for no extra charge.

  • Independent agents or brokers will usually let you compare quotes from any of the insurance companies they represent, though they may also charge a fee for their services.

  • Captive agents only work for a single insurance company. If you want to compare quotes from multiple insurance companies, you'll have to reach out to a captive agent at each individual company, which can be time-consuming.

If you prefer purchasing life insurance in-person, a local independent agent or broker is could be a great fit. But if you're comfortable comparing quotes online and speaking with a licensed agent over the phone, we recommend getting life insurance quotes through our online marketplace at Policygenius since it's faster, easier, and often more affordable.

You could save 50% or more by shopping for life insurance with Policygenius

After providing us with a few details like your age and income, you can compare life insurance quotes from some of the top insurers. You can do so online or by calling us at 1-800-608-2192 to connect with a Policygenius agent and find the best policy for your needs.

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2. Consider what type of life insurance you need

The best type of life insurance for you depends on your age, your budget, your insurance goals and needs, and many other factors.

The two main types of life insurance are term and permanent. Term life insurance covers you for a set period of time — usually between 10 and 30 years. Permanent life insurance can cover you for your entire life, and some of these products can come with a cash value savings component, which can grow tax-deferred over time.

Many people purchase both term and permanent policies: a term policy to cover the most expensive years of their lives, plus a smaller permanent policy for lifelong coverage and additional benefits. In fact, some insurers now offer hybrid policies that combine certain benefits of term and permanent life insurance together into a single product.

At Policygenius, our agents can help you compare policy types and apply for the right coverage at a price that works for you.

3. Determine how much life insurance you need

One easy rule of thumb is that your life insurance plan should include coverage that’s roughly 10 to 15 times your annual income. For example, if you make $100,000 per year, you’ll likely need around $1 million to $1.5 million in life insurance coverage.

Our life insurance calculator can help you estimate how much money your family would need to replace the loss of your income and meet their future goals.

When comparing life insurance quotes, consider all the expenses your family has now and will have in the future, such as:

  • Everyday living expenses

  • Mortgage payments

  • Your children’s educational costs

  • The cost of your own funeral

Your life insurance policy amount should cover them all, so your loved ones won’t struggle financially in your absence.

Ready to shop for life insurance?

How to find the best life insurance company when you're comparing quotes

Our independent, unbiased ratings and reviews of the best life insurance companies will help you find a great life insurance policy with confidence. The right life insurance company for you will depend on factors like your age, health, and financial needs.

You can also explore our reviews of more than 30 life insurance companies so that you'll know more about each insurer when you're getting quotes in our marketplace.

Insurer

Policygenius rating

Best for

AM Best rating

Brighthouse Financial

5.0/5 ★

No-medical-exam, young adults

A

Legal & General America

4.9/5 ★

Affordability, term life, smokers

A+

MassMutual

4.9/5 ★

Whole life

A++

Lincoln Financial

4.8/5 ★

Pre-existing conditions

A

Pacific Life

4.8/5 ★

Customer satisfaction

A+

Shop the country’s top life insurance companies

How much will your life insurance cost?

In general, the younger and healthier you are, the cheaper your life insurance will be. A healthy 30-year-old who doesn’t smoke pays $26 per month on average for a 20-year term life policy with a $500,000 payout. The same person could expect to pay around $450 per month for a whole life policy with an identical payout.

Learn more about life insurance rates 

What factors affect life insurance quotes and rates?

  • Age: The younger you are, the lower your premium payments will be. Life insurance rates typically go up 4.5% to 9% every year you age, since we all become riskier to insure as we grow older.

  • Gender: Women pay an average of 24% less for life insurance than men. Since women often live longer than men, covering women presents less risk to an insurance company.

  • Health: Serious health conditions can lead to high rates or denied coverage. Mild conditions may have a small impact on the cost of your premiums.

  • Lifestyle: Insurance companies consider some hobbies — like skydiving or scuba diving past a certain depth — risky enough to increase the cost of your life insurance policy.

The latest research on life insurance from Policygenius

plipi header

Policygenius Life Insurance Price Index

Life insurance rates remained steady in July 2024 according to the Policygenius Life Insurance Price Index (PLIPI). Rates haven’t changed since May 2023, when they went up by 1.4%.

Debt After Death_Michelle Kondrichl

46% of Americans expect to pass on debt to their loved ones when they die

Nearly half of American adults expect that if they died today, their loved ones would inherit their debt — and the more they earn, the more likely they are to pass down debt when they die.

2024-04 Life Survey Report 3 artist_Anuj Shrestha

Gen Z is 65% less likely than Boomers to turn to financial professionals for advice

But Americans who would turn to financial professionals first are more likely to view life insurance mainly as a way to provide for dependents in the event of their death.

Shopping for life insurance is easy with Policygenius

Policygenius makes it simple to compare life insurance quotes from America’s top insurers in just a few clicks to find your lowest price.

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Answer a few health and lifestyle questions and we’ll calculate your quotes from top insurers.

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Policygenius has near-perfect ratings on Trustpilot, BBB, and Google. Here's what our customers are saying.

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Amazingly easy process

I had a very good experience using Policygenius. They did most [of] the heavy lifting and made everything super easy. They sent me timely reminders which were helpful. I would 100% recommend using them.

Rahul,December 14thFive white stars with green backgrounds

Five white stars with green backgrounds

Policygenius made the process easy!

Policygenius made the process easy to navigate. The representatives were helpful and attentive to my questions. They were persistent in trying to help me find the best insurance for my current life goals. Once they connected me with insurance agents, the application process was relatively quick and, again, easy to navigate. I'd recommend them to anyone!

Kimberly,February 2ndFive white stars with green backgrounds

Five white stars with green backgrounds

This was an easy and simple process

This was an easy and simple process. It was not stressful at all. All of my questions were answered. I felt seen and listened to throughout the process. If you are on the fence don’t be you will not regret the decision to use this service.

Karen,April 13thFive white stars with green backgrounds

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Knowledgeable, Responsive and Courteous

The team quickly assessed my needs, they were knowledgeable of the products, and articulated a recommendation that was the best fit. The application process was simple, and they were available at each stage of the process to ensure the application was moving along. A great experience!

Mark,April 17thFive white stars with green backgrounds

Rated 4.6 / 5 based on5030 reviews.

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Authors

Katherine Murbach is a life insurance and annuities editor, licensed life insurance agent, and former sales associate at Policygenius. Previously, she wrote about life and disability insurance for 1752 Financial, and advised over 1,500 clients on their life insurance policies as a sales associate.

Antonio is a former associate content director who helped lead our life insurance and annuities editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.

Editor

Adam Morgan is an editorial director at Policygenius who leads the life insurance and annuities team. Previously, he led editorial teams matrixed across multiple financial publications at Red Ventures — including Bankrate, NextAdvisor, Million Mile Secrets, and others. As a journalist, his work has appeared in Esquire, Scientific American, The Guardian, Los Angeles Times, and elsewhere.

Expert reviewer

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