Life Insurance Companies That Don’t Raise Premiums (Compare Rates)
Life insurance companies that don't raise premiums often sell term life insurance with guaranteed level premiums. This may include companies such as Northwestern Mutual, MassMutual, and more. Even if you buy a different type of life insurance with fluctuating premiums, most companies cap how much your rates can increase. Find out more about life insurance companies that don't raise premiums before buying a policy.
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Heidi Mertlich
Licensed Life Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Life Insurance Agent
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from top life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- If you’re looking for life insurance companies that don’t raise premiums, your best bet is to buy a term life insurance policy
- Even if you have a life insurance policy with fluctuating rates, most companies put a cap on how much they can increase
- Some factors that affect life insurance rates include age, gender, health, family history, location, and more
When you’re shopping for life insurance, it can be intimidating to see the rates and know you have to fit another bill into your budget. However, it’s helpful to know that some companies have policies with guaranteed level premiums that won’t increase over time.
Finding life insurance companies that don’t raise premiums can be easier than you think. Read more below to find affordable life insurance companies that can fit your budget.
Before you begin reading, enter your ZIP code into our free quote comparison tool above to find a life insurance company with affordable rates.
Life Insurance Companies That Don’t Raise Premiums
When searching for life insurance companies that don’t raise rates, you will need to understand the different types of life insurance. Some types will have premiums that change based on the interest rate of an index.
If you’re trying to buy life insurance that has level rates, your best bet is to buy term life insurance. Many term life insurance policies have a guaranteed level premium that doesn’t increase over the course of the term.
Term life insurance comes with lower costs in part because it’s only meant to cover you for a limited period. You can transfer some term life insurance policies to long-term policies.
However, keep in mind that life insurance companies that do raise premiums are often those that sell policies with fluctuating and flexible premiums that change according to an index. Even with fluctuations, most policies have a cap that the premium cannot exceed.
Some of the cheapest life insurance companies that don’t raise premiums with term life insurance include Banner Life, Pacific Life, Principal, Northwestern Mutual, MassMutual, and AARP.
Enter your zip code below to view companies that have cheap life insurance rates.
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How much is life insurance?
The cost of life insurance will vary based on the type of life insurance that you buy. First, let’s look at the average rates for term life insurance:
Average Term Life Insurance Rates for Males and Females
| Age | $100,000: Male | $100,000: Female | $250,000: Male | $250,000: Female | $500,000: Male | $500,000: Female |
|---|---|---|---|---|---|---|
| 25 | $11.03 | $10.02 | $22.10 | $12.91 | $23.19 | $19.04 |
| 30 | $11.12 | $10.07 | $15.31 | $13.02 | $23.85 | $19.26 |
| 35 | $11.12 | $10.07 | $15.42 | $13.02 | $24.07 | $19.26 |
| 40 | $12.65 | $11.12 | $17.94 | $15.21 | $29.10 | $23.63 |
| 45 | $14.57 | $13.31 | $21.55 | $19.69 | $36.32 | $32.60 |
| 50 | $18.60 | $17.20 | $30.19 | $27.02 | $53.60 | $47.26 |
| 55 | $24.51 | $20.61 | $42.88 | $34.35 | $78.98 | $61.91 |
| 60 | $35.88 | $27.48 | $71.10 | $50.86 | $135.41 | $94.94 |
| 65 | $51.06 | $37.76 | $109.82 | $75.14 | $212.85 | $143.51 |
Next, we’ll take a look at the average whole life insurance rates for men:
Average Monthly Whole Life Insurance Rates for Males ($100,000 Coverage)
| Companies | 50-Year Rates | 55-Year Rates | 60-Year Rates | 65-Year Rates |
|---|---|---|---|---|
| Foresters Financial | $15.31 | $20.83 | $34.04 | $43.66 |
| MassMutual | $16.97 | $24.10 | $35.50 | $61.68 |
| AIG | $17.01 | $26.62 | $38.22 | $55.07 |
| AAA | $17.78 | $22.53 | $37.14 | $59.93 |
| Mutual of Omaha | $18.88 | $27.65 | $41.67 | $59.73 |
| Assurity | $20.10 | $28.45 | $44.20 | $67.08 |
| TransAmerica | $20.21 | $30.10 | $42.66 | $71.29 |
| Prudential | $21.88 | $28.18 | $37.72 | $58.45 |
| State Farm | $26.54 | $34.45 | $51.50 | $83.09 |
| Liberty Mutual | $40.32 | $55.35 | $95.58 | $141.93 |
Finally, we’ll take a look at the average whole life insurance rates for women:
Average Monthly Whole Life Insurance Rates for Females ($100,000 Coverage)
| Companies | 50-Year Rates | 55-Year Rates | 60-Year Rates | 65-Year Rates |
|---|---|---|---|---|
| Foresters Financial | $13.13 | $17.41 | $25.46 | $34.39 |
| MassMutual | $14.62 | $20.28 | $28.19 | $42.64 |
| AIG | $15.04 | $20.96 | $25.58 | $44.93 |
| AAA | $15.40 | $18.83 | $25.61 | $37.93 |
| Assurity | $16.53 | $22.97 | $32.71 | $49.76 |
| Mutual of Omaha | $16.73 | $21.97 | $29.20 | $46.57 |
| TransAmerica | $17.46 | $25.89 | $36.98 | $59.94 |
| Prudential | $21.27 | $23.80 | $29.49 | $41.13 |
| State Farm | $23.49 | $29.67 | $40.98 | $59.51 |
| Liberty Mutual | $32.94 | $39.15 | $59.76 | $81.27 |
Let’s explore some of the factors that can affect life insurance rates and why you might see an increase in your rates.
What factors affect life insurance rates?
There are many factors that can affect your life insurance. A change in any one of them might increase your rates. Unless you have a guarantee from your life insurance company that your rates will not increase, you are likely to see increases at regular intervals.
Some of the factors that affect life insurance rates include age, gender, location, health, smoking status, family history, occupation, and whether you participate in any risky activities.
As stated above, most term life insurance policies have guaranteed level premiums. However, if you decide to renew your policy after your first term ends, you will likely pay higher rates, since you will be older. If your health has declined, that will also increase your rates.
If you buy life insurance that has fluctuating premiums, your rates may increase when the interest rate of an index increases. However, most companies put a cap on how much your rates can increase.
Enter your ZIP code into our free quote comparison tool below to compare life insurance quotes from companies near you.
- https://www.forbes.com/advisor/life-insurance/factors-affecting-rates/
Enter your zip code below to view companies that have cheap life insurance rates.
Secured with SHA-256 Encryption
Heidi Mertlich
Licensed Life Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Life Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.