Whole Life Insurance Rates by Age Chart (2026)

Age has a large effect on the cost of whole life insurance. A 30-year-old woman in average health pays $405 per month for a $500,000 whole life policy, compared with $1,308 at age 60. Men with the same profile pay $428 at age 30 and $1,443 at age 60.

The pricing gap between men and women also grows with age. Men pay $23 more per month at age 30, $34 more at age 40 and $135 more at age 60 for $500,000 in coverage.

Whole life rate increases for women accelerate at older ages. A woman in average health pays $540 per month for a $500,000 whole life policy at age 40, $658 at age 50 and $1,308 at age 60. The increase from 50 to 60 is $650 per month, compared with a $118 increase from 40 to 50.

Because your premium is locked in when coverage begins, waiting until age 60 to buy a $500,000 policy can mean paying nearly twice as much as buying the same coverage at age 50.

Men’s whole life insurance rates follow the same age-related pattern as women’s but are higher at every age in our analysis. A man in average health pays $574 per month for $500,000 in coverage at age 40, rising to $862 at age 50 and $1,443 at age 60.

Men's rate increases also accelerate with age. From age 40 to 50, men's monthly premium rise $288 from, while from age 50 to 60, men's rates rise $581.

* Rates shown are for nonsmokers in average health.

Smoking raises the cost of a $500,000 whole life insurance policy by 36% at age 40. Women who smoke pay $735 per month compared with $540 for nonsmokers, a $195 monthly difference. Men who smoke pay $784 compared with $574, a $210 difference.

The penalty for smoking increases as premiums rise with age. At age 60, a female smoker pays $2,009 per month compared with $1,308 for a nonsmoker, while a male smoker pays $2,199 compared with $1,443 as a nonsmoker. 

Most life insurance companies allow you to apply for nonsmoker rates after you’ve been tobacco-free for at least 12 months, though requirements vary by insurer.

Age compounds the higher cost of smoking for female applicants. A female smoker pays $735 per month for $500,000 in whole life coverage at age 40, $988 at age 50 and $2,009 at age 60.

The age 40 to 50 increase is $253 per month, while the age 50 to 60 increase is $1,021. Women who smoke and plan to keep permanent coverage for life should compare the cost of applying now with the potential savings from qualifying for nonsmoker rates later.

A male smoker pays $784 per month for $500,000 in whole life coverage at age 40, $1,261 at age 50 and $2,199 at age 60. That makes the age-60 premium $938 higher than at age 50.

Smoking also costs a 60-year-old man $756 more per month than the $1,443 average for a nonsmoker of the same age. The combination of age and tobacco use creates a much larger dollar difference than either factor produces for younger applicants.

* Rates shown are for smokers in otherwise average health.

Poor health raises whole life insurance rates by 10% to 18% compared with average health, depending on age and coverage level, according to our analysis.

At age 40, a woman in poor health pays $610 per month for $500,000 in coverage compared with $540 in average health, a $70 difference. Men pay $647 versus $574, a $73 difference. Because these premiums are fixed at issue, qualifying for a better health class before buying can affect what you pay for the life of the policy.

Coverage amount has a major effect on whole life insurance costs for women in poor health. At age 40, monthly premiums rise from $140 for a $100,000 whole life policy to $610 for a $500,000 policy and $1,198 for a $1 million policy.

Increasing coverage from $500,000 to $1 million adds $588 per month for this profile. To avoid overpaying, base your death benefit on a defined permanent need rather than automatically selecting the highest coverage amount available.

A 40-year-old man in poor health pays $647 per month for $500,000 in whole life coverage and $1,271 for $1 million, a $624 monthly difference. At age 60, those rates increase to $1,639 and $3,303.

If you need permanent coverage, use our life insurance calculator to determine your coverage need before comparing premiums. Excess coverage is increasingly expensive at older ages.

* Rates shown are for nonsmokers in poor health.

Guaranteed whole life insurance rates average $90 per month for a 65-year-old woman with $15,000 in coverage and $116 for a man. These policies accept all applicants without health questions or a medical exam. Coverage is limited to $25,000 and costs more per dollar of coverage than traditional whole life insurance. Guaranteed whole life is designed primarily to cover final expenses for people who can't qualify for traditional life insurance due to age or health.

Guaranteed whole life rates for women rise with both age and coverage amount. A 65-year-old woman pays an average of $60 per month for $10,000 in coverage, $90 for $15,000 and $149 for $25,000. At $15,000 in coverage, waiting from age 65 to 75 increases the average premium from $90 to $156 per month, a 73% increase.

Men pay more than women for guaranteed whole life at every age in our analysis. A 65-year-old man pays $116 per month for $15,000 in coverage compared with $90 for a woman, a $26 monthly difference. At age 75, the same coverage costs $195 for men and $156 for women, widening the difference to $39 per month.

USAA has the cheapest whole life rates at most ages in our analysis, but the lowest-cost insurer changes for buyers ages 50 through 60. At age 40, USAA averages $504 per month compared with $556 at Gerber Life and $663 at Protective Life. Choosing USAA instead of Protective saves $159 per month for this profile.

Gerber Life becomes the lowest-cost option at ages 50 through 60. At age 60, its $1,286 monthly rate is $145 below USAA and $326 below Protective Life. USAA returns to the lowest cost at age 65.

The price gap between the providers in our review widens at older ages. At age 75, USAA averages $3,471 per month, compared with $4,388 at Protective Life and $5,288 at Gerber Life. That’s a $1,817 monthly difference between the lowest and highest rates in our analysis, so it's increasingly important to compare quotes from multiple insurers as you age.

* Rates shown are based on quotes for nonsmokers in average health with a $500,000 whole life policy.

A 40-year-old man pays $59 per month on average for a 20-year, $500,000 term life policy compared with $574 per month for the same amount of whole life coverage. Whole life costs more because it provides permanent coverage, a guaranteed death benefit and cash value that builds over time.

• Whole life coverage never expires as long as you pay premiums, while term policies end after 10, 20 or 30 years.
• Your whole life premiums build cash value that grows tax-deferred and can be accessed through policy loans (which accrue interest) or partial withdrawals (which may reduce your death benefit). Cash value growth isn't guaranteed and depends on the insurance company's performance and policy terms.
• The death benefit is guaranteed with a whole life policy, regardless of when you pass away, not just during a specific term period.

Term life is the more affordable option for replacing income during your working years. Whole life is better if you need permanent coverage for final expenses or estate planning, want tax-deferred cash value or have a lifelong dependent. If you only need income replacement for a set period, term life is the better value.

Learn more: Term vs. Whole Life Insurance

Funeral and burial costs average $7,000 to $12,000 nationally, according to the National Funeral Directors Association, and estate planning needs can range from $25,000 to well over $1,000,000 depending on assets and heirs. A specific goal (identified before choosing a coverage amount) prevents buying more than needed or leaving beneficiaries short.

Whole life insurance serves different goals than term life. Buyers use it primarily for final expenses, estate planning or leaving a financial legacy, rather than replacing income during working years. 

If you only want to cover final expenses, you only need $10,000 to $25,000, which a guaranteed issue or simplified issue policy can provide without a medical exam. If you want to build cash value, fund a trust or leave an inheritance, consider the $100,000, $250,000, $500,000 and $1,000,000 coverage tiers on this page. Our life insurance calculator can help you estimate the right amount of coverage based on your financial situation and goals.