For a healthy nonsmoker, a 20 year, $500,000 term policy averaged about $18 a month for a 30 year old man and about $15 a month for a 30 year old woman, based on NerdWallet rate data from October 2026. Your price depends on your age, health, tobacco use, job and the kind of policy.
Life insurance often costs less than people think. A 2026 LIMRA study found about 3 in 4 people guess too high.
Age matters most. The younger you are when you buy, the lower your price. At 40, the same $500,000 term policy averaged about $27 a month for men and $23 for women.
Your health matters too. Insurers look at things like blood pressure, weight, past illness and family history.
Tobacco raises the price a lot. So can a risky job, a risky hobby or a bad driving record.
The kind of policy matters. Term life is the cheapest. Whole life costs many times more for the same amount of coverage.
- Age
- Health and family history
- Tobacco or nicotine use
- Job, hobbies and driving record
- Term or whole life, and the coverage amount
More questions
Are these prices guaranteed?
No. They are averages. Your real price comes after the insurer reviews your application.
Do women pay less?
Usually, yes. Women tend to live longer, so their rates are often lower.
Does my credit score set my price?
NerdWallet says your credit score does not set your rate, though some insurers may look at your credit history.
Words to know
- Whole life
- Permanent insurance that lasts your whole life as long as you pay. Premiums, death benefit, and cash value are guaranteed.
