How much does life insurance cost? It depends on your age, health, and the type of coverage you choose — but most people are surprised by how affordable it really is. At Diversified Insurance Brokers, we help clients nationwide compare real-time quotes from over 75 A-rated carriers to find the best fit and price for their needs. Whether you’re protecting your family, planning for retirement, or managing debt, we’ll help you build a plan that’s cost-effective and easy to maintain.

What Determines the Cost of Life Insurance?

Insurance companies look at your overall risk profile when setting premiums. Here are the main factors that influence cost — and how you can keep yours low:

• Age: The younger you apply, the lower your premiums. Locking in rates early can save thousands over time.
• Health: Conditions like high blood pressure or diabetes can increase rates, but we specialize in high-risk life insurance and help clients with health histories find affordable coverage.
• Coverage Amount: Larger death benefits cost more, but can be structured efficiently — especially if you’re protecting a mortgage or family income.
• Policy Type: Term life insurance is the most affordable option, while permanent and indexed policies build long-term cash value.
• Duration: A 10-year term policy will always cost less than a 30-year term with the same death benefit.
• Occupation & Hobbies: If you fly, race, or climb, our special risk underwriting process can help you qualify for standard or non-smoker rates.

Average Life Insurance Costs by Age

Here’s an overview of what you can expect to pay monthly for a healthy non-smoker purchasing $500,000 of 20-year term life coverage:

• Age 30: $20–$25/month
• Age 40: $30–$40/month
• Age 50: $70–$90/month
• Age 60: $150–$200/month

These are sample rates — your actual quote depends on your health, coverage type, and lifestyle. To see exact numbers, try our instant quote tool above or visit our Life Insurance Marketplace.

Ways to Lower Your Life Insurance Premiums

Even if you’ve been told your rates might be higher, these strategies can make a big difference:

• Combine term and permanent coverage strategically to match short- and long-term needs.
• Reapply after quitting smoking or vaping — most carriers reclassify to non-smoker after 12 months.
• Share recent lab work or health documentation for more favorable underwriting.
• Let us shop the market for you — we compare rates from 75+ top carriers to find hidden savings.

Popular Policy Types and Riders

Life insurance isn’t one-size-fits-all. Depending on your goals, one of these may fit best:

• Term Life Insurance: Simple and affordable protection for families, income replacement, or debt coverage.
• Permanent Life with Living Benefits: Protects against chronic or critical illness and builds long-term value.
• Accelerated Death Benefit Riders: Allow you to access funds while living if diagnosed with a qualifying condition.
• Cigar Smoker Life Insurance: Get non-smoker rates even with occasional cigar use — our specialists know which carriers to target.

Why Work with Diversified Insurance Brokers

We’re a fiduciary, family-owned agency that’s been serving clients since 1980. As an independent broker, we aren’t tied to one company — which means you get transparent comparisons, competitive pricing, and personalized guidance. Whether you need coverage for your family, business, or estate, we’ll help you find the best value and avoid overpriced policies.

Related Topics to Explore

• Mortgage Protection vs. Term Life Insurance
• Life Insurance for Cigar Smokers
• Accelerated Death Benefit Riders
• Life Insurance with Living Benefits
• Annual Beneficiary Review Checklist