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Whole Life Insurance Rates Chart (Updated for 2019)

best-whole-life-companiesThere are dozens of highly-rated insurance providers that offer affordable permanent and whole life insurance protection.

To help you find your best option, we’ve provided a whole life insurance rate chart that compares monthly pricing for males and females.

This article also offers a brief background of the best whole life companies, and an alternative to traditional whole life that can save you a considerable amount of money on your permanent life insurance needs.

Quick Article Guide:

1. What is Whole Life Insurance?
2. Whole Life Insurance Rates Chart
3. How Much Whole Life Insurance Do I Need?
4. Is Whole Life Insurance a Good Deal?
5. The Best Companies for Whole Life Insurance
6. A Brief Overview of the Top Whole Life Providers
7. Who Offers the Best Whole Life Insurance Policy?
8. Average Cost of Whole Life Insurance
9. How We Can Help You Find the Best Policy

What Is Whole Life Insurance?

Whole life is the most popular form of life insurance in the marketplace. These policies provide $5,000 to $50,000 of insurance coverage for your entire lifetime, and the are typically used to pay for final expenses. There are many forms of whole life insurance, but three types are the most common.

Skip to the Whole Life Insurance Rates Chart

These are traditional whole life insurance, guaranteed issue life insurance, and universal life insurance. Each type of coverage has its own distinctive benefits or features, and we’ve further explained each of these policies in the section below:

Traditional Whole Life Insurance

Whole life insurance is usually available until the age of 80 and it does not require an exam for approval. Most companies will ask you at least a few health questions and electronically screen your medical records before approving your application.

Skip to the Whole Life Insurance Rates Chart

If you’re in average or better health for your age, you should be able to purchase up to $50,000 of coverage with fixed lifetime rates. Unfortunately, if you have been diagnosed or treated for a health issue like diabetes, heart disease, a stroke, or cancer, these policies are probably not available to you.

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is available to almost anybody between the ages of 50 and 85, regardless of their health. These policies offer up to $25,000 of life insurance coverage with no questions, phone interviews, or exams required for approval.

In exchange for lenient guidelines, there is a two-year waiting period before full coverage is active. If you pass away from a health-related issue during this time, your beneficiary will receive a refund for all of the money you’ve paid into your policy plus 10% interest.

Universal Life Insurance

Universal life insurance works a lot like whole life insurance, but it allows an applicant to buy more protection at a lower rate per $1,000 of coverage. Some of these policies even offer to build a cash value, but life insurance and investing should never mix.

If you need more than $50,000 of permanent life insurance, the only type of universal life insurance you should ever consider is guaranteed universal life insurance. These policies offer guaranteed fixed rates and level protection without requiring any investment risk.

The next section provides whole life insurance rates by age from some of our top-rated providers to help you estimate the cost of your coverage. We’ve also compared whole life insurance rates to guaranteed universal life insurance rates to illustrate the potential savings.

Whole Life Insurance Rates Chart

The whole life insurance rates chart below provides pricing for males and females between the ages 35 and 75. These rates are available to qualifying applicants in average or better health, and do not require a medical exam. The insurance providers will electronically review your records before approval.

Whole Life Insurance Rates Chart – $5,000
Skip to: $10,000$15,000$20,000$25,000$50,000

AgeMaleFemale
35$12.05$10.60
40$13.55$11.95
45$14.32$12.90
50$16.18$13.94
55$19.15$15.80
60$22.98$18.04
65$29.45$22.11
70$38.03$28.22
75$51.37$37.73
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only.

Whole Life Insurance Rates Chart – $10,000
Skip to: $5,000$15,000$20,000$25,000$50,000

AgeMaleFemale
35$20.29$17.70
40$22.74$20.39
45$24.45$22.60
50$29.16$24.67
55$35.09$28.40
60$42.76$32.87
65$55.75$41.01
70$72.91$52.47
75$99.53$71.11
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only.

Whole Life Insurance Rates Chart – $15,000
Skip to: $5,000$10,000$20,000$25,000$50,000

AgeMaleFemale
35$28.26$24.80
40$31.94$28.41
45$36.57$32.15
50$42.13$35.40
55$51.04$41.00
60$62.53$47.70
65$82.04$59.91
70$107.78$76.53
75$147.69$104.48
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only.

Whole Life Insurance Rates Chart – $20,000
Skip to: $5,000$10,000$15,000$25,000$50,000

AgeMalesFemales
35$36.23$31.90
40$41.13$36.44
45$47.69$41.70
50$55.11$46.14
55$66.98$53.60
60$82.31$62.53
65$108.18$78.82
70$142.66$100.59
75$195.85$137.86
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only.

Whole Life Insurance Rates Chart – $25,000
Skip to: $5,000$10,000$15,000$20,000$50,000

AgeMaleFemale
35$44.20$39.00
40$50.33$44.46
45$58.81$51.22
50$68.08$56.87
55$82.93$66.19
60$102.08$77.36
65$134.13$97.72
70$177.54$124.65
75$244.02$171.24
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

Whole Life Insurance Rates Chart – $50,000
Skip to: $5,000$10,000$15,000$20,000$25,000

AgeMaleFemale
35$84.04$74.50
40$96.31$84.56
45$115.19$98.09
50$137.68$112.50
55$165.50$131.50
60$206.06$159.69
65$263.91$194.84
70$355.74$244.95
75$496.33$338.13
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only.

To compare your options for whole life, give us a call toll-free at 855-247-9555, or you can use our quoting tool below to instantly compare rates from dozens of insurers. Our shopping services are free, and we represent more than 50 insurance providers.

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How Much Whole Life Insurance Do I Need?

To calculate the amount of whole life insurance you need, consider your primary reason for buying the coverage. If you are purchasing a policy to cover burial costs or final expenses, $10,000 to $15,000 should be sufficient. If you are hoping to leave an inheritance behind, evaluate your expenses before you apply.

Your whole life insurance policy will need to be in place for the rest of your life, so make your budget will accommodate it once you retire. If you fall behind on your monthly payments, you could lose your insurance coverage after you’ve been paying into it for years.

If you are purchasing a life insurance policy to maximize your pension plan, fund a trust, or preserve your estate, you’ll need to take a closer look at your financial needs. Depending on your situation, these articles might help you assess the amount of permanent life insurance coverage you need.

Is Whole Life Insurance a Good Deal?

Whole life insurance is the most popular form of life insurance in the United States. Its usually marketed through the mail, financial institutions, or with celebrity endorsers on TV. Despite it’s popularity, traditional whole life insurance is expensive compared to other types of insurance coverage.

Some whole life insurance policies even offer to build a small cash value that you’ll be able to borrow from in the future. While this seems promising, accumulating a sizable investment value can take decades, and during this time you’ll be overpaying for your life insurance policy.

If you need a small policy to cover your burial expenses, a whole life insurance policy might be worth the cost. However, for most of our client’s, better options are available. In this section we’ve explained how you can save thousands of dollars on permanent life insurance.

The Best Companies for Whole Life Insurance

There are dozens of companies that offer whole life insurance, but only a handful of them have competitive rates. These companies also tend to be fairly lenient with their underwriting guidelines and usually approve qualifying applicants in average or better health.

We’ve compared some of companies and their rates for males and females between the ages of 50 to 75 in the tables below. We work with dozens of life insurance providers, and while the insurers we’ve included tend to have the lowest rates, one of our other providers could have better options.

Whole Life Insurance Rate Comparison Chart for Males – $25,000

cost-of-whole-life-insurance

*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

Whole Life Insurance Rate Comparison Chart for Females – $25,000

best-whole-life-insurance-companies

*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

To compare your best options for permanent coverage, please give us a call toll-free at 855-247-9555, or you can request a free online quote in the box below to instantly compare permanent life insurance rates from dozens of providers.

A Brief Overview of the Top Whole Life Providers

We’ve provided a brief overview of our top seven whole life insurance providers. Everyone’s health-risk profile and needs are different,  but these top-rated companies usually offer the best whole life insurance products for our potential client’s.

whole-life-insurance-rates-americo

Americo – Americo is a subsidiary of the Great Southern Life Insurance company that was founded over 100 years ago. The Americo company offers retirement solutions, medicare supplements, and whole life insurance products in 47 states and the District of Columbia.

best-whole-life-companiesUnited Home Life – United Home Life Insurance company is an A – (Excellent) rated company by AM Best that offers term, whole, and accidental life insurance. The United Home Life company has been in business for 70 years and they are headquartered in Indianapolis, Indiana.

cost-of-whole-life

Mutual of OmahaMutual of Omaha is a Fortune 500 company that was founded in 1909. The company offers life insurance, medicare supplements, annuities, retirement plans, long term care, and a variety of health and dental insurance products.

whole-life-insurance-ratesTransamericaTransamerica is an A+ rated life insurance company that was founded in 1907. They specialize with life and health insurance, long term care, and retirement planning. The company has more than 25,000 employees and is headquartered in Cedar Rapids, Iowa.

foresters-whole-life-insurance-rates

Forester’s Financial – The Forester’s Financial company was founded more than 140 years ago in 1874. In addition to selling life insurance, they also offer mutual funds, annuities, and other retirement savings solutions. Forester’s products and services are also available in Canada and the UK.

cost-of-whole-life-insurance

Baltimore Life – The Baltimore Life company operates in 49 states and they provide life insurance protection to more than 300,000 people. Baltimore Life also offers financial planning services and a product that can you save money on your healthcare and prescription costs.

fidelity-whole-life-insurance-rates

Fidelity Life – Fidelity Life employs more than 50,000 people and they specialize with investing, retirement planning, brokerage services, and life insurance. The company currently manages $2.46 trillion in assets and are headquartered in Boston, Massachusetts.

If you would like to learn more about these companies, or determine which provider has your best options, we can help. Give us a call at 855-247-9555 to speak with one of our experts. The next section explains an alternative to traditional whole life that can save you up to 50% on the cost of you permanent life insurance.

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Who Offers the Best Whole Life Insurance Policy?

In the whole life insurance rates chart below, we’ve compared the cost of traditional whole life insurance to a similar permanent life insurance policy called a GUL. Both of these policies offer identical death benefits with guaranteed rates until age 100 or later.

Whole Life Rates vs GUL Rates for a Male in Excellent Health – $50,000

AgeWhole LifeGUL Insurance
35$74.50$29.71
40$84.56$37.00
45$98.09$43.40
50$112.50$51.00
55$131.50$62.00
60$159.69$77.20
65$194.84$97.50
70$244.95$130.00
75$338.13$192.50
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

Whole Life Rates vs GUL Rates for a Female in Excellent Health – $50,000

AgeWhole LifeGUL Insurance
35$84.04$26.51
40$96.31$31.38
45$115.19$37.08
50$137.68$46.33
55$165.50$57.16
60$206.06$88.50
65$263.91$118.50
70$355.74$160.50
75$496.33$217.50
*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

The main difference between these two policies, is that the whole life policy doesn’t require a medical exam for approval. With a GUL, your rates are determined by your individual risk. However, with a whole life insurance policy, everyone in your rate class will pay the same monthly premiums.

For most of our clients, a GUL policy is less expensive than whole life, but it won’t build a cash value. Instead of locking your savings into a life insurance policy, you’re better off using the money you save each month to fund your own investment accounts for faster growth.

Average Cost of Whole Life Insurance

In this section, we’ve compared the monthly cost of a $50,000 whole life policy to a $50,000 guaranteed universal life policy. Both insurance policies offer level rates and fixed coverage until the age of 100 or later. The rates displayed below are for applicants in excellent health.

Average Cost of Whole Life Insurance Vs GUL Insurance for Males

*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

Average Cost of Whole Life Insurance Vs GUL Insurance for Females

*Displayed monthly rates are accurate as of 06/01/2019 and are provided for illustrative purposes only. 

With all of the permanent and whole life insurance policies to choose from, selecting the best policy for your budget and financial needs can be overwhelming. If you need some free advice, our independently-owned agency can provide you with the unbiased advice you need.

How We Can Help You Find the Best Policy

JRC represents more than 50 top-rated life insurance companies and we’re experts at matching our clients with the best provider. Our comparative shopping services are completely free, and we’ll help you find the best coverage available, regardless of your age or health.

In addition to whole life insurance, our independent agency also offers term life insurance, guaranteed universal life insurance, and guaranteed issue insurance. We’re a one stop shop for all of your life insurance needs  and there’s no cost to apply for coverage.

Call us today to receive an accurate quote, or request a free online quote below to instantly compare your options. We’ve helped thousands of families and businesses with their life insurance, and we can help you too! Toll-free: 855-247-9555.

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Cliff Pendell

VP of Marketing at JRC Insurance Group
Cliff is a Managing Partner and Co-Founder at JRC. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.
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