We care about Aflac’s policyholders affected by the recent weather:
To help provide relief for California policyholders residing in Santa Cruz County who were affected by the coastal storms, Aflac will provide a premium grace period starting Dec. 23, 2024, and ending Apr. 15, 2025. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
We care about Aflac’s policyholders affected by the recent wildfires:
To help provide relief for California policyholders residing in Los Angeles and Ventura Counties affected by the wildfires, Aflac will provide a premium grace period starting Jan. 7, 2025, and ending Mar. 10, 2025. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
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When making any big life decision, it's helpful to assess both the costs and the benefits. Life insurance is one of those decisions that can greatly impact you and your loved ones' lives. Figuring out how much life insurance is and how it can help benefit you are the first questions you'll need to get answered. Here's how much life insurance costs, average costs for term and whole life plans, and factors that can affect the cost.
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Using our life insurance calculator may help you determine how much life insurance you need and can help you forecast your potential life insurance cost per month, also known as premium payments.
Life insurance is a contract between the policyholder and the life insurance company that can help financially support your loved ones. In exchange for paying premiums, the insurer will provide a death benefit payout to your beneficiaries if you pass away while the policy is active.1
The average life insurance cost can vary depending on the type of plan you own. Term life insurance is a life insurance plan that you pay into for a fixed period of time, like 10, 20, or 30 years. These plans often have competitive rates than their alternative, whole life insurance. However, your beneficiary only receives the payout (or death benefit) if you pass within the specified term.2 Alternatively, whole life insurance is typically more expensive, but the beneficiary will receive the death benefit regardless of when you pass — hence the name, whole life.3
The average cost of life insurance per month is $26.4 How much you'll pay monthly for life insurance can depend on what you're looking for in a plan, so we don't recommend using this number as the ultimate baseline.
Each life insurance company may assess how much of a risk you are based on your lifestyle, and the price of life insurance can reflect this. Since how old you are can help insurance companies better understand the risk, you may want to explore how life insurance rates by age can change.
Term life insurance costs are mainly influenced by the age of the policyholder, their gender, and how long the specified term is. The specific costs can depend on the insurance company you choose, but a few factors can help you understand potential term life insurance costs.
In general, term life insurance is more expensive the older you are. Additionally, term life insurance is more expensive for men than women because men tend to have shorter life expectancies.4
On the other hand, term life insurance can be cost-effective when the term length is shorter. So, a 10-year term life plan would typically have more reasonable rates than a 30-year term life plan. Lastly, the face value, or the amount of money you choose to have paid to your beneficiary, impacts the life insurance cost.5 Typically, you will choose the term length and face value upfront, when your term life insurance plan is being created.
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedIn a whole life insurance plan, the term length is non-existent, so the length of the plan typically won't change the cost of this permanent life insurance. However, the same influences of age and gender also apply to whole life insurance costs.
Some whole life insurance plans may allow you to decide how you want to pay premiums. You can pay it all upfront, or over 10, 20, or 25 years. The payment structure you choose can help impact overall costs and benefits of your life insurance plan.
The whole life insurance plan usually will need to be paid for in full for the beneficiary to be able to access all the benefits. We recommend chatting with an insurance agent to help determine how beneficiaries can complete the plan's payments if needed. Additionally, the overarching face value of your plan will impact the total life insurance cost.6
Here are some factors that impact how much you'll pay for a life insurance policy:6
Life insurance companies won't use your ethnicity or religious preference to determine costs. Instead, they only look at factors that impact the risks within your life. Also, credit life insurance is usually the only life insurance that may need your credit score to help determine eligibility and costs.
Here are some ways you can help find a life insurance policy that will fit within your budget needs:
The amount of life insurance you need can depend on factors such as your debts, income, number of dependents, and how long you want to be covered. For instance, it is usually recommended that you apply for a policy worth 10 times your income if you want to help provide your loved ones with financial stability after your passing. Or, if you have a mortgage or other long-term debts, you should get a coverage amount that would help loved ones be able to pay these debts off if you unexpectedly pass away.
Depending on your unique needs and goals, Aflac offers both term and whole life insurance plans, depending on your unique needs and goals. Speaking to an agent can help clarify what your life insurance costs could be like.
Get a quote today to see how an Aflac life insurance plan could fit into your budget. Understanding potential monthly costs can help you plan for the future better.
Get Started
Permanent life insurance ensures the financial protection of your loved ones. Find out what permanent life insurance is and the different types of policies available.
The rates you'll pay for term life insurance depend on your age and other factors. Find out how rates vary with age and how to find the best term life insurance plan for you.
Permanent life insurance ensures the financial protection of your loved ones. Find out what permanent life insurance is and the different types of policies available.
The rates you'll pay for term life insurance depend on your age and other factors. Find out how rates vary with age and how to find the best term life insurance plan for you.
1 Investopedia - Life Insurance What It Is, How It Works, and How To Buy a Policy. Updated February 24, 2025. Accessed February 28, 2025. https://www.investopedia.com/terms/l/lifeinsurance.asp.
2 Investopedia - Term Life Insurance What It Is, Different Types, Pros and Cons. Updated November 26, 2024. Accessed February 28, 2025. https://www.investopedia.com/terms/t/termlife.asp.
3 Investopedia - Whole Life Insurance Definition How It Works, With Examples. Updated November 25, 2024. Accessed February 28, 2025. https://www.investopedia.com/terms/w/wholelife.asp.
4 Nerd Wallet - Average Life Insurance Rates for February 2025. Updated February 28, 2025. Accessed February 26, 2024. https://www.nerdwallet.com/article/insurance/average-life-insurance-rates.
5 Value Penguin - Average Cost of Life Insurance by Age, Term & Coverage. Updated December 27, 2024. Accessed February 28, 2025. https://www.valuepenguin.com/average-cost-life-insurance.
6 Nerd Wallet - The Cost of Whole Life Insurance, and Why It's So High. Updated September 11, 2024. Accessed February 28, 2025. https://www.nerdwallet.com/article/insurance/cost-of-whole-life-insurance.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Aflac life plans – A68000 series: Term Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C. Not available in Virginia.
Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (NAIC 92908).
In AR, DE, ID, OK and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Aflac Final Expense policies are not available in New York.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
Aflac WWHQ | Tier One | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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