Start applying

Lock in your lowest life insurance rate

Life insurance premiums typically increase with age. The earlier you purchase a policy, the sooner you can lock in a lower premium, saving you money over time.
Start applying

A simple way to save on life insurance cost

Buying life insurance early locks in the best rates. The cost typically increases by about 8% each year you wait. Once you sign your policy, your rate is fixed for the term, ensuring long-term savings.
For example, a 40-year-old non-smoking male in good health could pay $2,172 annually for a 20-year term with $1 million coverage. If he waits until age 41, the cost increases to $2,340 per year, and by age 42, it rises to $2,508 annually.
Check out term life insurance rates by age charts, and you’ll see that waiting only increases your costs.

Average term life insurance rates by age

As you age, the cost of term life insurance tends to increase. Based on our policies, we’ve created a chart that shows how premiums shift depending on age. The following examples show monthly premiums for a 10-year term life insurance policy with a $1 million death benefit for applicants in good health.
In this scenario,
  • A 35-year-old non-smoker would pay around $65 per month.
  • A 45-year-old non-smoker would pay $135 per month for the same policy.

By purchasing the policy at age 35 instead of 45, you could save $840 per year over the term of the policy.

Keep in mind that rates for seniors are typically much higher, but term life insurance is still more affordable than permanent life insurance for seniors because it covers a fixed period without accumulating cash value.

Why term life insurance rates are lower for younger people

Term life insurance premiums are generally more affordable for younger individuals due to several factors.

  1. Better Health: Younger people tend to be healthier and have a lower risk of developing serious medical conditions, which reduces the likelihood of needing a payout. This lower risk leads to lower premiums.

  2. Lower Mortality Rates: Insurance companies rely on actuarial tables and statistical models to estimate the likelihood of a person passing away during a specific period. These tables show that younger people have significantly lower mortality rates, which is why insurance providers offer them lower premiums.

While it may seem like a form of age-based pricing, it’s really a reflection of statistical data—insurance companies are simply adjusting premiums based on the likelihood of a claim.

Common mistakes when buying life insurance

Waiting until you have kids

A common mistake is waiting to buy life insurance until you have children. While it’s important to protect your family, life insurance can also help cover personal debts, medical bills, your mortgage, lost wages, and even funeral expenses—benefits that can ease the financial burden on your partner or next of kin before you have children. The earlier you purchase life insurance, the better chance you have at locking in lower premiums.

You assume you’ll remain in good health for a long time

Health plays a major role in determining life insurance rates. If you wait too long to purchase coverage, you may find yourself facing higher premiums due to age-related health risks or even difficulty securing a policy. Buying life insurance when you’re younger and healthier locks in better rates and helps protect your future, especially against unforeseen health changes.

Relying on employer-sponsored coverage

While employer-sponsored life insurance may seem like a good benefit, it often provides insufficient coverage—usually only one to two times your annual salary, while financial experts recommend having about 10 times your salary.
Another problem is that if your employment status changes (such as retirement or a job change), you could lose your life insurance coverage. Having your own policy provides more security and ensures protection for your loved ones, no matter your employment situation.

How to get the best term life insurance rates

Maintain good health: Your health plays a crucial role in determining your life insurance premiums. Those in good health typically enjoy lower rates. If you have any pre-existing health conditions, focus on improving your health before applying for life insurance. The healthier you are, the better your premiums will be.
Choose the right coverage amount and term length: Selecting a coverage amount that fits your needs and choosing an appropriate term length can help you avoid paying for more coverage than necessary. Make sure your policy aligns with your financial goals and obligations, so you’re not over-insuring or under-insuring yourself.
Quit smoking: Smoking significantly impacts your life insurance rates, as it’s considered a major risk factor. Smokers typically face higher premiums, but if you quit smoking and maintain a smoke-free status for a period of time, you may be eligible for lower rates. Quitting smoking can lead to significant savings on your life insurance premiums.

How Surevix works

Surevix simplifies the process of applying for life insurance, ensuring that you can easily secure a plan that protects your loved ones when they need it most.

Choose your coverage

Select the life insurance policy that best suits your needs. If you're unsure about the amount of coverage, don’t worry— you can always adjust it after approval. If you're wondering how much coverage you need, use our handy coverage calculator to help guide you through the process and ensure you're properly protected.

Calculate Coverage

Apply in minutes

Once you've selected your plan, simply complete our easy online application. You’ll answer a few questions about your age, health, medical history, and lifestyle. It’s a quick and straightforward process, and it should only take about 10 minutes to finish.

Apply Now

Get coverage

After you submit your application, we’ll process it in real-time and provide a quick—often instant—decision. Once approved, you can activate your coverage immediately. Plus, no medical exam is required; the health questions you answer are sufficient.

A+ rated and backed by top insurance agencies

Surevix partners with some of the world’s leading and most trusted insurance providers, ensuring that you receive top-notch coverage. With an A+ rating and a focus on customer satisfaction, Surevix prioritizes your needs, as reflected in our outstanding user ratings.
Start applying

See what verified customers say on Trustpilot

via Trustpilot

The Easiest Transaction Ever

This was by far the easiest transaction I’ve ever had! I loved getting my insurance policy without wasting time. Fantastic experience!

Sarah T.
via Trustpilot

Great experience from start to finish

A seamless experience from start to finish. I would highly recommend this process to anyone. Thank you for all your help!

James R.

via Trustpilot

I Loved Working with Surevix

Working with Surevix was an absolute pleasure. They were professional, timely, and quick to answer all my questions. I’m extremely satisfied with the service I received. Thanks for helping me get covered, Surevix!

Emily K.

via Trustpilot

Quick, Honest, Stress Free

The process was fast, straightforward, and completely stress-free. Far better than dealing with traditional agents. Definitely a no-brainer!
David S.

We're here to assist

At Surevix, we understand that choosing life insurance is a big decision, which is why we make it simple for you to get the information you need. Our team of licensed, non-commissioned agents is available to address any questions you may have.
Contact us

We're featured in:

Contact Us

1606 Headway Circle #9013
Austin, TX 78754
(231)213-2323
Email us
Facebook Twitter X-twitter Instagram

Resources

Company

Partnerships

Legal

Surevix Estate Planning, LLC provides online estate planning resources and products, which are entirely separate from the life insurance services offered by Surevix.
Scroll to Top