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Life Insurance Quotes
Life insurance is a great way to make sure your loved ones are financially secure should the unexpected happen, but sorting through all the options, prices and fine print can seem daunting. At SelectQuote, we’ll get to know your situation, learn more about the coverage you’re looking for, and provide free life insurance quotes from some of the most trusted companies in just minutes. We can also answer any questions you have, match you with the right life insurance company for your lifestyle or health condition, and find opportunities to try and save you money.
Getting a free life insurance quote online 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 start by asking you for some personal information to find the right kind of coverage for you. The more we know before we start, the more accurate your quote will be.
When looking for a free life insurance policy 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
Even if you’re unsure about your answers, we can help figure out what the best term life insurance policy for your situation would be and find you the right coverage with the right carrier at the right price.
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. Figuring out which life insurance quote is right for you can be easy with SelectQuote. We’ll take the time to understand your needs and in just minutes, can find you the right coverage from one of the trusted insurance carriers we partner with.
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 policies 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 often the most affordable—type of life insurance due to its simplicity and ease. As the name insinuates, you can have a term policy for a select number of years, typically ranging from 10-30, but 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.
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 can depend on your personal situation, but as long as you’re paying the monthly premiums, the permanent life insurance policy will remain intact. Whole life insurance is often more expensive than term life insurance, but it does come with added permanent life insurance benefits such as lifetime coverage, a set premium for the duration of the policy, and a cash value.
No Medical Exam Life Insurance
While securing a life insurance policy is easy with SelectQuote, 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. For a simplified issue policy of up to $40,000, you can expect to complete a health-related questionnaire in place of the medical exam. For a guaranteed issue policy, you would not need to complete an exam or a questionnaire, but can expect to see lower coverage options available.
Life Insurance Rates & Determining the Cost of Your Policy
Life insurance 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.
How the Underwriting Process Calculates Your Monthly Premium
The underwriting process for a life insurance policy uses several factors to calculate your monthly premium:
The Type of Policy You Choose
The Length of Your Term Life Policy
Your Age at Time of Purchase
Your Gender
The Amount of Benefit You Choose
Your Health at Time of Purchase
Your Hobbies at Time of Purchase
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 prices.
| 10 Years | 15 Years | 20 Years | 25 Years | 30 Years |
| 10 Year Term Life | |||
| Age / Sex | $250,000 Coverage Amount | $500,000 Coverage Amount | $1M Coverage Amount |
|---|---|---|---|
| 25 Years Old Female | $8.61 | $11.22 | $15.78 |
| 25 Years Old Male | $9.96 | $13.17 | $19.89 |
| 35 Years Old Female | $9.31 | $12.62 | $19.93 |
| 35 Years Old Male | $10.33 | $14.45 | $21.67 |
| 45 Years Old Female | $16.29 | $25.46 | $41.17 |
| 45 Years Old Male | $18.34 | $29.71 | $49.30 |
| 55 Years Old Female | $29.97 | $53.26 | $96.83 |
| 55 Years Old Male | $40.65 | $73.72 | $137.81 |
| 15 Year Term Life | |||
| Age / Sex | $250,000 Coverage Amount | $500,000 Coverage Amount | $1M Coverage Amount |
|---|---|---|---|
| 25 Years Old Female | $9.27 | $12.99 | $18.55 |
| 25 Years Old Male | $10.19 | $14.49 | $22.66 |
| 35 Years Old Female | $10.78 | $13.35 | $23.47 |
| 35 Years Old Male | $11.41 | $16.57 | $26.35 |
| 45 Years Old Female | $18.68 | $30.46 | $53.42 |
| 45 Years Old Male | $22.89 | $38.69 | $71.48 |
| 55 Years Old Female | $35.39 | $64.20 | $120.13 |
| 55 Years Old Male | $52.92 | $93.65 | $180.83 |
| 20 Year Term Life | |||
| Age / Sex | $250,000 Coverage Amount | $500,000 Coverage Amount | $1M Coverage Amount |
|---|---|---|---|
| 25 Years Old Female | $11.02 | $15.72 | $23.63 |
| 25 Years Old Male | $12.32 | $19.07 | $30.50 |
| 35 Years Old Female | $12.63 | $18.87 | $31.42 |
| 35 Years Old Male | $14.23 | $22.31 | $36.28 |
| 45 Years Old Female | $22.77 | $40.01 | $72.39 |
| 45 Years Old Male | $28.43 | $50.37 | $94.32 |
| 55 Years Old Female | $49.79 | $93.04 | $177.69 |
| 55 Years Old Male | $69.79 | $126.92 | $245.32 |
| 25 Year Term Life | |||
| Age / Sex | $250,000 Coverage Amount | $500,000 Coverage Amount | $1M Coverage Amount |
|---|---|---|---|
| 25 Years Old Female | $13.57 | $19.69 | $31.75 |
| 25 Years Old Male | $15.66 | $24.22 | $41.65 |
| 35 Years Old Female | $16.76 | $26.00 | $45.68 |
| 35 Years Old Male | $19.32 | $30.74 | $55.56 |
| 45 Years Old Female | $32.90 | $54.14 | $101.02 |
| 45 Years Old Male | $42.27 | $71.45 | $134.97 |
| 55 Years Old Female | $88.73 | $159.87 | $302.33 |
| 55 Years Old Male | $88.73 | $221.62 | $414.72 |
| 30 Year Term Life | |||
| Age / Sex | $250,000 Coverage Amount | $500,000 Coverage Amount | $1M Coverage Amount |
|---|---|---|---|
| 25 Years Old Female | $15.25 | $22.88 | $38.11 |
| 25 Years Old Male | $17.48 | $28.21 | $47.29 |
| 35 Years Old Female | $19.05 | $30.89 | $54.71 |
| 35 Years Old Male | $22.07 | $37.34 | $68.45 |
| 45 Years Old Female | $35.94 | $65.34 | $124.19 |
| 45 Years Old Male | $46.48 | $86.42 | $164.53 |
| 55 Years Old Female | $109 | $203.54 | $384.98 |
| 55 Years Old Male | $148.72 | $269.42 | $531.17 |
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.
What is the best type of life insurance for me?
The best type of life insurance will often look 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, but there are some people who benefit from a permanent life insurance policy. At SelectQuote, we work with some of the most trusted insurance carriers in the nation and we’ll go through your options for coverage to ensure you have the policy that’s right for you.
Why do I need life insurance?
Anything can happen in the blink of an eye, and you want to ensure your family and loved ones are financially protected if you were to unexpectedly pass away. The realities of having financial dependents can occur when a major life event takes place, such as:
Starting your career
Life insurance can help replace any lost income if something happens to you. Obtaining life insurance when you start your career is a way to ensure the best rates and have financial protection for your loved ones if your income is lost.
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 having loved ones who depend on your income. Life insurance can prevent your loved ones from the potentially devastating financial losses that could occur with the loss of an income.
Starting a business
In addition to everyday expenses, life insurance can also help pay off business 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, you probably have a mortgage to pay, and a life insurance policy can help cover mortgage payments so your family doesn’t have to move in the event 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.
You want to ensure your debts are covered, day-to-day expenses are handled, and that your loved ones can grieve without the burden of financial stressors and continue living life as normal as possible if you are gone. Life insurance is one of the easiest and most affordable ways to do just that.
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 depends on your financial support
- Paying off a mortgage
- Covering funeral expenses
- Saving for retirement
- Helping children through college
How to Buy Life Insurance
If you’re trying to navigate how to buy life insurance and are unsure where to turn next, SelectQuote can help. 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 is going to align with your lifestyle and that you have the right coverage 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 your needs and get you started on the application process. Here’s a step-by-step of how the process of buying life insurance works:
- Call 833-580-4668 or submit a quote form to get connected with one of our skilled licensed insurance agents.
- Work 1-1 with a member of our team to see what your options for life insurance coverage are.
- Compare rates and coverage options from some of the most trusted life insurance companies in the nation.
- Select the right plan for you and continue with the application underwriting and medical exam process.
Why Compare Life Insurance Quotes with 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, compare free life insurance 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
SelectQuote Customer Reviews
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