Updated April 4th, 2019

If you want to get the best whole life insurance rates, you are going to have to do the research.

As a consumer, you know that there is a lot that goes into comparing policies and companies. You also know that one detail is more important than most: The Cost

If all you want is a quote you can get one here: Whole Life Quick Quote

Regardless of your personal situation and future needs, you’re likely to be faced with these two questions:

  • How much does whole life insurance cost?
  • How much coverage do I need?

In many ways, these two questions go together hand in hand. In other words, your cost is dictated largely by how much coverage you require. But of course, there is more to it than that. Cost depends on many different factors which we will address in this article.

The following are some of the topics you can expect to find in the article, and quick links to you can jump to what’s important to you:

  1. Price Is Not Everything
  2. Whole Life Insurance Rates By Age Chart
  3. Factors That Impact Your Cost
  4. Average Whole Life Insurance Cost With Cash Value
  5. Whole Life 10 Pay Cost
  6. Whole Life Insurance Non Medical Cost
  7. Burial Insurance
  8. Permanent Life Insurance Cost

This should give you a complete understanding of how much a whole life insurance will cost you. 

Check your Whole Life Rates

Price Is Not Everything 

We do have a chart of prices per age, but please understand before you only look at price…

Price is not everything in a whole life insurance. 

Imagine only buying a house based on price. It wouldn’t make much sense, would it?

When buying a house you would need to consider things like:

  • Location (location, location)
  • Age of the home
  • School district
  • Repairs needed

And many more variables… The same is true in a whole life insurance.

There are manly variables to consider when buying a whole life:

But in this article we will mainly focus on the cost while not forgetting about the other variables.

Whole Life Insurance Rates By Age Chart 

However, we do want you to get an understanding of pricing. We used a Top Rated life insurance company with great cash value accumulation, this way you can get an idea of whole life insurance rates.

The next charts are for whole life paid until age 100.

Here is our chart of prices for a Male in Excellent Health:

Whole Life Insurance Rates By Age Chart

(Monthly Rates For MALE)

Age $25k $50k $100k $250k $500k $1 MM
20 $23 $40 $65 $153 $302 $591
25 $26 $44 $75 $177 $351 $688
30 $30 $51 $89 $212 $420 $827
35 $34 $60 $108 $260 $516 $1,019
40 $41 $72 $135 $327 $651 $1,289
45 $51 $90 $170 $415 $827 $1,640
50 $64 $115 $216 $530 $1,057 $2,101
55 $80 $143 $275 $677 $1,351 $2,688
60 $101 $181 $350 $864 $1,725 $3,436
65 $129 $234 $453 $1,122 $2,241 $4,468
70 $174 $314 $611 $1,517 $3,030 $6,047
75 $236 $429 $840 $2,089 $4,175 $8,337
Whole Life Insurance Rates By Age Chart

(Monthly Rates For MALE)

Age $25,000 $50,000 $100,000 $250,000 $500,000 $1MM
20 $23.51 $40.24 $65.86 $153.56 $302.76 $59
25 $26.43 $44.85 $75.52 $177.70 $351.05 $688
30 $30.15 $51.68 $89.44 $212.50 $420.65 $827
35 $34.69 $60.07 $108.66 $260.57 $516.78 $1,019
40 $41.26 $72.95 $135.63 $327.99 $651.63 $1,289
45 $51.18 $90.74 $170.78 $415.86 $827.37 $1,640
50 $64.92 $115.71 $216.80 $530.92 $1,057.49 $2,101
55 $80.32 $143.94 $275.53 $677.73 $1,351.11 $2,688
60 $101.51 $181.92 $350.35 $864.78 $1,725.21 $3,436
65 $129.89 $234.03 $453.53 $1,122.74 $2,241.12 $4,468
70 $174.13 $314.37 $611.44 $1,517.50 $3,030.65 $6,047
75 $236.77 $429.30 $840.42 $2,089.96 $4,175.57 $8,337

Next is the same data in a chart format.

As you can see rates increase as you age. However, it gets to a point where if you want a large enough whole life, the cost might be prohibitive. That’s why most people later in life decide to purchase smaller whole life policies.  

Whole Life Insurance Rates Chart Male
Whole Life Insurance Rates By Age Chart

(Monthly Rates For FEMALE)

Age $25,000 $50,000 $100,000 $250,000 $500,000 $1MM
20 $20.90 $34.19 $55.16 $126.80 $249.26 $484.59
25 $23.77 $39.28 $66.73 $155.73 $307.11 $600.30
30 $27.19 $45.11 $80.40 $189.01 $373.67 $733.41
35 $30.73 $53.29 $91.87 $218.59 $432.83 $851.73
40 $36.02 $62.60 $109.88 $263.61 $522.87 $1,031.82
45 $41.78 $72.91 $135.98 $328.86 $653.37 $1,292.82
50 $52.31 $91.70 $172.78 $420.86 $837.38 $1,660.83
55 $64.79 $116.80 $222.02 $543.97 $1,083.59 $2,153.25
60 $82.11 $149.25 $286.58 $705.35 $1,406.36 $2,798.79
65 $106.62 $195.68 $378.36 $934.82 $1,865.28 $3,716.64
70 143.14 $263.91 $514.08 $1,274.12 $2,543.88 $5,073.84
75 199.23 $369.79 $725.06 $1,801.55 $3,598.76 $7,183.59
Whole Life Insurance Rates By Age Chart

(Monthly Rates For FEMALE)

Age $25k $50k $100k $250k $500k $1MM
20 $20 $34 $55 $126 $249 $484
25 $23 $39 $66 $155 $307 $600
30 $27 $45 $80 $189 $373 $733
35 $30 $53 $91 $218 $432 $851
40 $36 $62 $109 $263 $522 $1,031
45 $41 $72 $135 $328 $653 $1,292
50 $52 $91 $172 $420 $837 $1,660
55 $64 $116 $222 $543 $1,083 $2,153
60 $82 $149 $286 $705 $1,406 $2,798
65 $106 $195 $378 $934 $1,865 $3,716
70 143 $263 $514 $1,274 $2,543 $5,073
75 199 $369 $725 $1,801 $3,598 $7,183
Whole Life Insurance Rates Chart Female

Same data in a chart format.

As you can see, whole life insurance increases in price as you age for females as well. This isn’t new, all life insurance works the same way. But females in general have much lower whole life premium rates than males.

For both males and females, locking in your whole life insurance rates when you are young can be a great strategy.

However, unlike term insurance, whole life insurance is an asset. So getting the cheapest, may not be the best for you long term. Sometimes paying a bit more will get you significant cash value growth over the long run.

To compare cash value check out our article: Best Whole Life For Cash Value

Just like price increases, the longer you wait the slower your cash value will grow.

Factors That Impact Your Cost

Before we go any further, remember this: no two companies take the same approach when providing whole life insurance quotes. For this reason, the price offered by one company may not be identical to the next.

In a perfect world, you’ll be young and healthy when purchasing life insurance. This gives you the best opportunity to secure a policy at an affordable price. Maybe this is why many people purchase whole life insurance on their kids, knowing that in the future this will be a great gift to them.

While some people are both young and healthy, others don’t fall into this category. 

Whole Life Insurance Rates and Prices

Age & Health Are Important Factors On Prices

Age & Health 

Generally speaking, here are the factors that affect your whole life insurance premium:

  • Life insurance rates are cheaper when you are young. The older you get the more you will pay
  • Are you 100 percent healthy? Or have you run into some health concerns in the past?
  • On average, women live longer. Subsequently, they pay less for life insurance coverage.
  • Drinker or smoker? If you drink alcohol or use tobacco, you should expect your life insurance rate to be higher.
  • Many consumers overlook this detail, but it definitely comes into play. There’s a big difference between someone who works as a secretary and someone who works as a sky diving instructor.
  • There are companies that offer no exam whole life insurance, but you will pay more for coverage if you go down this path.
  • The riders you chose to add to the policy. Riders are features you can add to any policy.

Since there are so many factors that impact your cost, including the company and your overall personal and health profile, you won’t know how much you’ll be asked to pay until you receive quotes from multiple providers. 

Health & Age Impact On Cost 

The following chart can give you an idea how health impacts whole life insurance costs. We used 3 different ratings (Standard, Preferred, Ultra) from a large life insurance company, so you have an idea.

It is a quote for $250,000 whole life paid till age 100, with monthly rates:

Age Standard Preferred Ultra
35 279.49 260.57 260.57
40 348.87 327.99 327.99
45 451.53 415.86 415.86
50 576.81 530.92 530.92
55 738.41 677.73 677.73
60 947.43 864.78 864.78

Here are the rates for a MALE SMOKER $250,000 whole life paid till age 100, with monthly rates:

Age Preferred 

Tabacco

Standard

Tabacco

35 321.68 338.65
40 396.72 414.99
45 521.13 548.10
50 642.06 678.38
55 868.91 912.41
60 1,112.51 1,169.50

 

Here are the rates for a FEMALE $250,000 whole life paid till age 100, with monthly rates:

Age Preferred 

Tabaco

Standard

Tabacco

35 254.91 268.40
40 323.21 341.26
45 403.25 424.13
50 511.78 550.28
55 658.59 691.87
60 847.82 890.88

As you can see costs by rating change, but incredibly they do not vary that much. Whole life insurance price is not significantly impacted by health. Also this will change company to company but now you have a better understanding.

The main factor that changes price is age. So if you are considering a whole life, then get it as soon as you can.

In addition, even though price doesn’t change much with age, what does change is cash value accumulation. So again don’t wait if you are looking for a whole life.

Average Whole Life Insurance Cost With Cash Value

We are going to give you some average whole life insurance costs for different ages next. However, the purpose of the charts is to give you an idea of the price ranges, and also include Cash Value Accumulation. This chart is not intended to be a quote. 

Pro Tip: Do Not Trust Whole Life Insurance Rates Without Cash Value Growth… You Could Get A Bad Whole Life

Please remember all of the prices can change based on health, and company.

We used one of the most solid companies for the following chart. 

Whole Life $250,000, Good Health & Non-smoker

Female Quote

Age Monthly Price Cash Value @ 65 Death Benefit @ 65
25 $155.73 $197,962 $448,229
30 $189.01 $174,093 $408,742
35 $218.59 $160,158 $392,254
40 $263.61 $129,863 $345,516
45 $328.86 $103,677 $311,939
50 $420.86 $81,418 $292,492
55 $543.97 $58,136 $283,201
60 $705.35 $24,230 $262,321

Male Quote

Age Monthly Price Cash Value @ 65 Death Benefit @ 65
25 $177.70 $225,927 $452,517
30 $212.50 $224,859 $459,121
35 $260.57 $191,210 $408,734
40 $327.99 $162,496 $370,916
45 $415.86 $132,839 $335,865
50 $530.92 $104,912 $310,216
55 $677.73 $70,849 $287,318
60 $864.78 $29,754 $264,222

As you can see there is a significant difference as you age in price, cash value, and death benefit growth. So if you are considering a whole life, now is the time to take action. 

Whole Life 10 Pay Cost

There are many variations to whole life life insurance, but few are as interesting as a 10 pay.

When you are looking for a whole life that builds cash value, then one of the best products to consider is a whole life 10 pay.

A 10 pay is a type of limited pay whole life insurance where you only need to pay premiums for 10 years. After 10 years you keep you policy and all the cash in it, but you don’t have to keep paying.

10 Pay whole life’s are great to maximize cash value growth, but if you are looking to get a large death benefit then you should consider other products.

Here are the whole life insurance rates for a 10 pay:

Male $250,000 Excellent Health 

Age Cost Cash @ 65
25 521.78 326,700
30 617.05 295,214
35 733.19 267,052
40 873.48 241,420
45 1,038.56 217,402
50 1,227.57 147,707
55 1,451.38 174,093
60 1,705.42 76,267

As you can see this product builds significant cash value if you start early. However, when you are older it becomes much more expensive. This is the type of product someone looking for whole life in their 30’s or 20’s should consider.

I Would Like To Get A Quote Now

Best Whole Life & Cheapest

It’s common to ask “how much does whole life insurance cost,” but there’s no simple answer. Instead, you have to dig up the answer by requesting quotes from multiple companies. However, now you have a better idea of prices.

Check out this article for whole life insurance cost for $1,000,000

Cost Of Whole Life No Medical

Whole Life Insurance Non Medical Cost

Many people do not like to go through the hassle of doing a medical exam. We get many clients that are scared of needles. This is when opting for a non-medical whole life insurance may be a good option for you. 

Pros

It’s a much simpler process, and you will not have to do the blood and urine test. So you will not uncover any new health conditions as the health rating will be based on your current health.

Cons

Your health rating will be close to a standard rating. This mean you may have to pay a little more than your average (medical) full underwriting whole life. 

Who Should Do It?

If your health is average, and you are not in excellent shape, it may be a good option for you. In addition, if you haven’t been to the doctor in a while, it may be better just to go the non-medical route.

Cost Of Non Medical Whole Life

Here is a table from a participating whole life insurance company that offers a great non-medical whole life:

Male $250,000 Non Medical Whole Life Cost

Age Monthly Premium Cash Value @ 65 Death Benefit @ 65
25 $222.86 $205,965.19 $427,059.02
30 $253.05 $187,496.37 $401,162.50
35 $295.49 $166,111.52 $371,911.09
40 $344.05 $143,980.43 $344,438.65
45 $424.77 $121,078.61 $321,472.21
50 $526.93 $96,216.66 $299,930.59
55 $666.71 $66,599.53 $278,409.70

Female $250,000 Non-Medical Whole Life Cost

Age Monthly Premium Cash Value @ 65 Death Benefit @ 65
25 $215.64 $184,128.40 $432,056.29
30 $247.80 $166,916.34 $405,145.92
35 $287.61 $148,837.26 $379,003.01
40 $331.36 $129,578.01 $353,662.83
45 $389.33 $108,497.04 $328,882.22
50 $468.30 $85,014.47 $304,082.69
55 $604.80 $58,033.15 $280,612.76

If you would like a quote for a non-medical whole life reach out to us and our experts are ready to help.

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Non Medical Whole Life Cost

Burial Insurance 

Small whole life policies $2,000 to $10,000 can also be known as burial insurance. These are simple, very affordable whole life policies that are easy to purchase. You will not have to go through a complicated underwriting process.

All you will need is to answer a few questions, and either you are accepted or rejected.

Here are sample rates for $10,000 whole life policy, or burial policy:

Age Premium
20 $13.70
25 $14.75
30 $16.18
35 $17.97
40 $19.98
45 $22.59
50 $25.99
55 $31.39
60 $36.77
65 $46.68
70 $60.99
75 $80.72
80 $106.96
85 $161.31

Most rejections are based on severe health conditions, so don’t be afraid to apply. Check out this article for more info on burial insurance: 12 Questions About Final Expense Policies

Permanent Life Insurance Cost

The word “permanent” can be applied to many different kinds of life insurance.

  • Guaranteed Universal Life
  • Whole Life Insurance
  • Indexed Universal Life Insurance

The reason all of the previous are called permanent is because as long as you pay the premium your policy will be there until you die.

The following are rates for Guaranteed Universal Life policy with the following features:

  • 100,000 of guaranteed death benefit
  • Guaranteed until age 100
  • Excellent Health
  • Level Premiums
GUL 100k To Age 100
Age Premium (Male) Premium (Female)
30 $42.00 $36.00
35 $49.00 $43.00
40 $58.00 $51.00
45 $72.00 $63.00
50 $92.00 $78.00
55 $111.37 $97.08
60 $133.73 $106.52
65 $168.99 $138.78
70 $238.95 $193.96

As you can see these rates are even cheaper than a whole life insurance.

The main difference is the fact that you will not have much cash value. But if you are looking for permanent death benefit, these are great policies.

Final Note

Now you have a great idea of pricing and rates. Remember that whole life insurance costs can change drastically with age and health, so start as soon as possible, and lock in your insurance for life.

Other reads:

Whole Life Insurance Dividend Rate History

Indexed Universal Life Insurance Costs

Best Whole Life For Cash Value

How to Review your Whole Life Coverage in 2018

Check Out Whole Life Insurance Rates For You

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