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Life insurance can cost less than a family streaming subscription or more than a mortgage payment. The difference usually comes down to the applicant, the amount of coverage, and whether the policy lasts for a set term or the rest of your life.
A healthy, nonsmoking 30-year-old woman paid an average of $23.10 per month for a $500,000, 20-year term policy in October 2025, according to the Policygenius Life Insurance Price Index. A man of the same age, health classification, and coverage paid an average of $29.56 per month.
Whole life coverage is substantially more expensive. Policygenius estimated the average cost of a $500,000 whole life policy at $408 per month for a 30-year-old woman — nearly 18 times more expensive than a 20-year term policy with the same death benefit.
Keep in mind that rates can differ significantly from person to person. Policy details, including the death benefit, term length, and any optional riders, can also drive up the price.

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