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This content has been reviewed by an experienced licensed SelectQuote life insurance agent to ensure accuracy. Learn more about our editorial standards.
by Jon Reinemann last reviewed March 2022

Life Insurance Quotes

Life insurance is a great way to make sure your loved ones are financially secure should the unexpected happen, but it can be daunting to sort through all the options, compare prices and read the fine print.

Getting a quote is as easy as connecting with SelectQuote. We’ve helped millions of families find the right life insurance for their needs for more than 35 years.

We’ll get to know your unique situation and learn more about the coverage you’re looking for in order to match you with the right life insurance company for your lifestyle or health condition. In just minutes, we can provide life insurance quotes from some of the most trusted companies at prices that work within your budget. We know insurance can be confusing—that’s why we’re there each step along the way to answer any questions you may have.

When shopping for a quote, be prepared to provide:

  • Personal information (gender, age, height, weight, etc.)
  • Health and medical information (tobacco usage, driving history, health conditions, hobbies, etc.)
  • Family health history
  • Previous or current coverage
  • Contact info

The more information we have about you from the start, the more accurate your quote will be. Even if you’re unsure about your answers, the team of experienced licensed insurance agents at SelectQuote can help figure out the right term life insurance policy for you. Our technology allows us to match you with the right carrier at a price that works within your budget.

Table of Contents

What is life insurance?

Life insurance is a contract between you (the policyholder) and an insurance company. A life insurance policy is financial protection for your family and loved ones if you were to pass away, as it guarantees a sum of money to your named beneficiaries.

SelectQuote takes the stress out of figuring out which life insurance quote is right for you. We’ll take the time to understand your needs and can find you the right coverage from one of the trusted insurance carriers we partner with in just minutes.

What are the different types of life insurance?

There are two main types of life insurance: term life insurance and permanent life insurance.

While term life insurance quotes are often more affordable, there are benefits to consider when it comes to both. How much coverage you need, your current financial situation and who is dependent on your income are just a few factors that can go into determining what life insurance type is right for you.

Term Life Insurance

Term life insurance is the most popular and most affordable type of life insurance due to its simplicity and ease. As the name explains, the insurance policy lasts for a select number of years. Term life insurance policies typically range from 10-30 years. The amount of coverage you need and the term life insurance length will depend on your unique situation.

While term life insurance doesn’t build up a cash value like permanent policies, it’s an easy way to gain peace of mind during the years when you’re building for retirement, paying off a mortgage or putting away funds for your child’s college tuition. Term life insurance can ensure your loved ones are taken care of financially once you’re gone.

Here are some example situations where a term life insurance policy would be a good fit.

10-Year Term Life Insurance

You want to make sure your children are financially protected until they graduate college, which is 8 years from now. A 10-year term life insurance policy would fill that gap so your children had a financial cushion until they could get full-time jobs.

20-Year Term Life Insurance

You’re a young adult who just got married and want to make sure your spouse has a financial safety net in case the worst were to happen. Buying 20-year term life insurance means you can lock in longer-term coverage at an affordable rate versus waiting until you are older.

30-Year Term Life Insurance

You and your partner just bought a house and financed it with a 30-year mortgage. A 30-year term life insurance policy would be a good fit to ensure the mortgage is covered in the event of an unexpected death.

Whole Life Insurance

Whole life insurance is the most common type of permanent life insurance and provides a set amount of coverage for as long as you live. Similar to term life insurance, the amount of coverage you need for a whole life insurance policy depends on your personal situation. The main difference between term and whole is that whole life insurance offers lifetime coverage as long as you pay the monthly premiums and does not expire after a set number of years like term life insurance.

Whole life insurance is often more expensive than term life insurance, but it does come with added permanent life insurance benefits such as a steady premium for the duration of the policy and a cash value. You can borrow against the cash value as it accrues interest over time.

No Medical Exam Life Insurance

While SelectQuote makes securing a life insurance policy easy, the medical exam that comes with the application process can be one of the most intimidating parts. This 30-minute physical isn’t difficult by any means, but some individuals wish to avoid it altogether—and it’s possible to do so with a no medical exam life insurance policy such as guaranteed issue or simplified issue.

Both simplified issue life insurance and guaranteed issue life insurance are good options if you’re between the age of 45-85.

Life Insurance Rates and Determining the Cost of Your Policy

Life insurance rates rates and the cost of your policy vary based on your personal information and the type of policy you are looking for. Our life insurance calculator can help you get started on figuring out the right amount of coverage for you.

Term Life Insurance Rates

Term life insurance rates not only vary from person-to-person, but are determined by a number of factors including your age, gender, where you live and your health in addition to the length of the policy and amount of coverage.

Here are some examples of average term life insurance rates.

10 Years15 Years20 Years25 Years30 Years
10 Year Term Life
Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25-Year Old Female$8.60$11.05$15.29
25-Year Old Male$9.96$13.56$18.69
35-Year Old Female$8.98$11.90$17.89
35-Year Old Male$10.25$14.02$20.39
45-Year Old Female$15.15$24.16$37.39
45-Year Old Male$16.80$27.61$44.82
55-Year Old Female$28.20$49.72$90.44
55-Year Old Male$37.47$67.15$122.40
15 Year Term Life
Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25-Year Old Female$9.07$12.54$17.85
25-Year Old Male$10.19$14.02$22.08
35-Year Old Female$10.41$14.43$20.39
35-Year Old Male$10.78$15.71$24.65
45-Year Old Female$17.37$28.05$49.27
45-Year Old Male$21.22$35.68$65.45
55-Year Old Female$32.84$59.07$109.65
55-Year Old Male$46.75$84.99$163.19
20 Year Term Life
Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25-Year Old Female$10.83$15.72$22.93
25-Year Old Male$12.28$18.70$29.75
35-Year Old Female$11.92$17.62$28.90
35-Year Old Male$13.58$20.56$33.15
45-Year Old Female$21.23$36.47$66.53
45-Year Old Male$26.17$46.06$86.28
55-Year Old Female$45.25$83.33$158.09
55-Year Old Male$60.42$113.33$218.46
25 Year Term Life
Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25-Year Old Female$13.35$19.54$31.73
25-Year Old Male$15.58$23.78$40.78
35-Year Old Female$15.90$24.63$42.49
35-Year Old Male$18.04$28.47$50.98
45-Year Old Female$29.50$49.72$92.63
45-Year Old Male$37.58$65.01$121.53
55-Year Old Female$73.39$134.34$253.06
55-Year Old Male$100.27$187.23$366.73
30 Year Term Life
Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25-Year Old Female$14.64$22.86$38.10
25-Year Old Male$17.47$28.03$46.73
35-Year Old Female$18.26$29.19$51.16
35-Year Old Male$21.08$34.74$63.91
45-Year Old Female$33.25$60.10$114.03
45-Year Old Male$42.74$77.66$146.96
55-Year Old Female$91.19$175.98$329.89
55-Year Old Male$119.27$231.95$456.47
Table rates are based on 10-year, 15-year, 20-year, 25-year, and 30-year term policies for men and women in excellent health from one or more of the trusted companies we represent. Term life insurance rates were pulled on 5/2022. Your price could vary depending on your health, issuing company and other factors. Not available in all states.

Factors to Remember About Term Life Insurance Quotes

The term life insurance rates above may vary as there are many factors taken into consideration during the underwriting process that impact your term life insurance quote, such as:

  • Age: Your age has a significant impact on your life insurance rates, as it boils down to your life expectancy. The older you are, the more of a risk you are to the insurer, and the higher your rates are likely to be. This is why it’s important to get a term life insurance quote sooner rather than later.
  • Gender: On average, men can expect to pay higher life insurance premiums than women because the average lifespan of a male tends to be shorter than that of a female.
  • Health Classification: Life insurance companies use health classifications to determine your health and level of risk. Your health, height, weight, tobacco use and family health history are all factors that determine your health classification. Some health factors that may result in higher premiums include high blood pressure, high cholesterol, HIV/AIDS and hepatitis, hypoglycemia, chronic illness, nicotine use or recreational drug use.

How the Underwriting Process Calculates Your Monthly Term Life Rate

The underwriting process for a life insurance policy uses several factors to calculate your monthly premium:

The Type of Policy You Choose

Term life policies are typically more affordable than permanent life policies. Term life premiums are fixed while permanent life premiums tend to increase about 8% to 10% for every year of age.

The Length of Your Term Life Policy

The longer your term, the more expensive your life insurance quote can be. This is because the longer you have the life insurance policy, the older you get and the greater the chance the insurance company will have to pay out the death benefit.

Your Age at Time of Purchase

Older individuals can expect to pay a higher premium for both term and permanent life insurance.

Your Gender

On average, women tend to live longer than men, so men can expect to pay higher life insurance rates.

The Amount of Benefit You Choose

You can typically expect to pay a higher monthly premium when you choose a higher benefit to be paid to your beneficiaries.

Your Health at Time of Purchase

Most applicants must undergo a basic medical checkup in order to secure life insurance. Some factors that might result in higher premiums include high blood pressure, high cholesterol, HIV/AIDS and hepatitis, hypoglycemia, chronic illness, nicotine use or recreational drug use.

Your Hobbies at Time of Purchase

Do you enjoy extreme sports like hang gliding, skiing or climbing? No surprise, you’re a bigger insurance risk, so you may see higher life insurance quotes for both term and permanent life insurance.

What is the best type of life insurance for me?

The best type of life insurance looks different for everyone, as each type of policy has both its advantages and considerations. Term life insurance is typically a favorable option due to its simplicity and price, but there are some people who benefit most from a permanent life insurance policy.

At SelectQuote, we work to ensure you get the policy that’s right for you. This means working with some of the most trusted insurance carriers in the nation and then carefully going through your options with you.

Why do I need life insurance?

You want to ensure your family and loved ones are financially protected if you were to unexpectedly pass away. Life insurance can help ensure your debts are covered, day-to-day expenses are handled and that your loved ones can grieve without the burden of financial stressors.

Certain major life events mean additional financial responsibilities and dependents and are ideal times to consider buying life insurance. These events can include:

Starting your career

If your family depends on your income, obtaining life insurance when you start your career is a way to ensure the best life insurance rates and provide financial protection for your loved ones if you pass away.

Getting married

You want to ensure that your spouse is financially supported in the event of an unexpected death. If one of you were to pass away, would the other spouse’s income be enough to pay off any debts as well as cover rent, the mortgage or utilities?

Growing your family

Growing your family means additional financial responsibilities, as well as children who depend on your income. Life insurance can prevent financial hardship that could occur with the loss of an income.

Starting a business

If you own your own business, life insurance can help pay off business-related debts or fund a buy-sell agreement allowing a business partner to buy out your share if you pass away.

Buying a home

If you buy a house and have a mortgage to pay, a life insurance policy can help cover mortgage payments so your family doesn’t have to move in the event your income is lost.

If you have any debt

Life insurance can help pay for any remaining debt that you wouldn’t want to pass on to surviving family members.

How much life insurance do I need?

The amount of life insurance needed varies from person-to-person. There are a few main points to consider when determining how much life insurance you need:

  • How much life insurance you can afford
  • Who would depend on your financial support in the event of your death
  • If you have a mortgage
  • How funeral expenses will be paid
  • How much money you need for retirement
  • If you have children who need help paying for college

How to Buy Life Insurance

SelectQuote is here to help if you’re trying to navigate how to buy life insurance and are unsure where to turn next. It’s more than understanding why you need coverage and what types of life insurance policies are available to you. It’s also ensuring the type of policy you select aligns with your lifestyle and that you’re matched with the right carrier at the right price.

In just minutes, we can provide free life insurance quotes to help you determine what life insurance policy is right for you and get started on the application process. Here’s a step-by-step of how the process of buying life insurance works:

  1. Call 833-580-4668 or submit a quote form to get connected with one of our experienced licensed insurance agents.
  2. Work one-on-one with a member of our team to learn about your options for life insurance coverage.
  3. Compare life insurance rates and coverage options from some of the most trusted life insurance companies in the nation.
  4. Select the right plan for you and continue with the application underwriting and medical exam process.

Why Choose SelectQuote

Not only do we have more than 35 years of experience helping people find the right life insurance, but we also work with some of the most trusted life insurance companies in the nation. We’ll take the time to get to know your situation, provide you with free, unbiased term life insurance policy quotes, and help you find the right life insurance policy for you.

SelectQuote Is Dedicated To:

Making sure you know all your options before deciding on a policy

Finding the best price for the coverage you need based on your unique needs

Matching you with the best carrier for your situation

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Let SelectQuote Compare Term Life Insurance Quotes Online for You

We want to help ensure your family and loved ones are financially protected. SelectQuote has the experience and the partnerships with trusted carriers to secure the life insurance policy that works best for you. Let us compare life insurance quotes for you today.