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Policygenius Sees Stability in Individual Term Life Prices

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Typical U.S. life insurance prices for healthy applicants might have stayed about the same between October and November, in spite of the effects of the COVID-19 pandemic.

Policygenius, a New York-based web broker, has published data supporting that possibility in a new monthly life insurance price report.


  • A link to the Policygenius Life Insurance Price Index page is available here.
  • An earlier article about Policygenius price index data is available here.

The company began publishing the monthly reports earlier this year. The new report is the third in the series.

The report provides average monthly premium data, from 11 carriers that sell individual life coverage through Policygenius, for 20-year term coverage for applicants ages 25, 35, 45 and 55, broken down by sex, with $250,000, $500,000 and $1 million coverage amounts.

There are separate tables for smokers and nonsmokers. Policygenius assumes that applicants qualify for preferred health pricing.

The lowest price in the new tables, for a 25-year-old female nonsmoker, with $250,000 in coverage, is $14.22. That equals the lowest price in the tables published in October.

The highest price, for a 55-year-old male smoker, with $1 million in coverage, is $1,036.84, up from $1036.76.

The highest price in the tables is 72.9 times higher than the lowest price.

The ratio of the highest price in the tables to the lowest price is about the same as it was in October.

Policygenius says in a comment on the new numbers that the November price index report shows the stability of the U.S. life market, “with no significant changes in life insurance prices for healthy applicants across core demographics from October to November, despite the continuing global pandemic.”

— Read ‘Call It Love Insurance’: Life Insurance Awareness Month 2020 Begins, on ThinkAdvisor.

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