How to lower life insurance premiums

Secure the best rate by staying healthy and keeping tabs on beneficiary needs.

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Cheap life insurance rates are achieved by one part good health and two part financial choices. But lowering your overall coverage could pose a risk if your situation changes down the road.

  • Compare multiple providers
  • Calculate how much coverage you need
  • Get a quote in 2 minutes

Get a FREE life insurance quote

What's Your Birthdate?
Where Do You Live?
What Is Your Gender?

More info

How can I lower my life insurance premiums?

Life insurance policies are sensitive to both time and your health. If you’re determined to reduce your monthly premium, consider doing the following:

  • Achieve — and maintain — a healthy weight. Underwriters consider BMI when crafting life insurance quotes because being overweight or obese has been linked to serious health conditions. If your BMI is high, your risk factor goes up — and so does your monthly premium.
  • Stop using nicotine-based products. Smoking is seen as a red flag by life insurance providers. So is the use of e-cigarettes, chewing tobacco and other nicotine-based products. Since part of the application process is a test to check for nicotine, companies will know your habits even if you lie upfront. The longer it’s been since you quit, the better your rates will be.
  • Listen to your doctor. Even if you have an existing medical condition like high blood pressure, getting it under control can help you get a better policy. Keep up with regular visits to your doctor and take prescribed medications as necessary.
  • Keep tabs on your financial needs. As your life evolves and changes, so will your financial needs and the needs of your beneficiaries. For example, your coverage will likely be higher when you have dependents or young kids. But later in life, as your children make their own lives, you may be able to lower coverage.
  • Compare new policies. It never hurts to see what else is out there since different lenders may have different evaluation criteria or specialties. Evaluate policies on an apples-to-apples basis and check for exclusions or hidden fees that may impact the overall price you’ll pay beyond the policy premium.
  • Apply sooner rather than later. The younger and healthier you are, the lower your premium will be. Policies tend to get more expensive as you age since health conditions tend to snowball as birthdays accumulate. Locking down a rate now can help protect against future unknowns.

Could these providers offer you a better rate?

Name Product Issue Ages Coverage Range Medical Exam Required State Availability
18 - 85 years old
$10,000 to $10,000,000+
Depends on provider and policy
All 50 states
Compare quotes from 16 life insurance companies side by side.
18 - 64 years old
$100,000 to $3,000,000
All 50 states
Customized term life insurance policies up to $3 million, no medical exam required.
18 - 75 years old
$100,000 to $10,000,000
Get a term life insurance quote from this A+ rated company, founded in 1875.
20 to 60 years old
$100,000 to $8,000,000
Not available in New York
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
25 - 60 years old
$100,000 to $5,000,000
Available in all states except for Montana
Offers term life insurance with accelerated underwriting. No-exam coverage up to $1,000,000 for those who qualify.
21 - 54 years old
$50,000 to $1,000,000
Not available in Alaska or New York
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
18 - 80 years old
$2,000 to $10,000,000
Depends on policy
20 - 80 years old
$25,000 to $10,000,000
All 50 states
Quickly get a quote for coverage with this marketplace, which compares term & whole life insurance policies from 45+ carriers.
20 - 85 years old
$100,000 to $1,000,000
Depends on policy
All 50 states
Get a term or whole life insurance quote from Fidelity Life - starting as low as $15/day.
25 - 83 years old
$25,000 to $1,000,000
Depends on policy
Get a term life quote from eCoverage - starting at as low as $15 per month.

Compare up to 4 providers

What should I watch out for after amending my life insurance policy?

If you lower your coverage amount to help make monthly premiums more affordable, be mindful of scenarios that could have a negative impact, including:

  • Changes in health. You may have left yourself exposed to new conditions that surface after your original medical underwriting.
  • Unforeseen beneficiary needs. If a loved one is permanently injured in an accident or suddenly becomes dependent upon you again, you’ll need to reconsider how much money is necessary to leave behind.
  • Altered financial security. Your financial stability can always change. If your savings accounts can’t support your spouse or cover other expenses after you’re gone, you might need to increase coverage once again.

How much can I change by simply improving my health?

Health is one of the most important elements in keeping life insurance premiums affordable. Eating right and exercising regularly can get your BMI to an acceptable level, help control existing medical conditions and lower the overall risk to providers.

Life insurance premiums for smokers tend to be at least twice as expensive as premiums for nonsmokers. After quitting smoking for at least a year, you may get moved into the “nonsmoker” bucket. And your overall health could improve as well, which lowers rates even further.

Bottom line

Being vigilant about your health and thoughtful about your actual needs can help keep monthly life insurance premiums down. But remember that your best advocate is you, so take the time to shop around and compare quotes before committing to a policy.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site