Life Insurance Cheapest online life insurance companies for 2023 We weighed rates from 10 online life insurance companies to find the most affordable online life insurance premiums by gender, age, and smoking status. Written by Huma Naeem Reviewed by Nupur Gambhir Nupur Gambhir Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service. Updated on: August 24, 2023 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. More than half of Americans overestimate the cost of life insurance by as much as threefold. This is especially true for younger generations who prefer to shop online. However, life insurance premiums can be fairly competitive and costs can be surprisingly low. And getting this affordable coverage doesn’t have to be difficult — life insurance today can be bought online, with no medical exam, and coverage goes in place almost immediately. To help you find a policy that might be right for you, Insure.com put together a list of companies that offer the cheapest policies online. We pulled rates from 10 online life insurance companies and determined how much online life insurance costs by age, gender, and smoking status. Each company listed provides coverage completely online. The application process begins with an online questionnaire, excludes a medical exam, and coverage becomes active once you sign an online document. While cost is important, it shouldn’t be your only criteria for picking a policy. You should consider how much coverage you need and what special features your policy should include. And to be sure you get the best possible rate, you should shop around and compare quotes from at least three to five insurers. The cheapest online life insurance companies for females For female non-smokers in excellent health, Wyshbox offered the best rates for 25-year-olds. Haven Life provides the best rates for 35-year-olds and 45-year-olds. But once applicants reach age 55, the most affordable online life insurance companies were Fabric and Ethos. Fabric had the best rate for 55-year-old females buying $500,000 in coverage, while Ethos had the best rate for 55-year-old females buying $1 million in coverage. Age25354555Coverage amount$500,000$1 million$500,000$1 million$500,000$1 million$500,000$1 millionBestow$18$29$26$47$60$115$176$338Ethos$16$24$20$36$44$83$106$199Fabric$19$32$21$35$57$97$104$201Haven Life$15$23$18$29$36$67$110$217Ladder$18$29$19$32$46$80$78$131SoFi$21$34$22$37$53$92$78$131Lemonade$18$29$23$39$44$83$81$156Sproutt$20$36$23$43$50$97$67N/ATruStage$56N/A$80N/A$122N/A$266N/AWyshbox$12$20$21$41$40$78N/AN/A The cheapest online life insurance companies for males For male non-smokers, Haven Life offers the most affordable rates up to age 55. But once applicants reach 55, Fabric by Gerber Life takes the lead. Age25354555Coverage amount$500,000$1 million$500,000$1 million$500,000$1 million$500,000$1 millionBestow$37$66$36$66$88$169$159$311Ethos$21$37$25$46$57$106$150$283Fabric$23$39$24$41$71$126$143$278Haven Life$19$31$21$34$42$80$151$297Ladder$21$35$22$37$58$104$116$218SoFi$24$41$25$42$67$119$116$218Lemonade$29$51$30$54$58$109$113$220Sproutt$24$44$30$57$67$130$93N/ATruStage$92N/A$98N/A$185N/A$377N/AWyshbox$21$38$30$58$54$101N/AN/A The cheapest online life insurance companies for female smokers Ethos offered the best rates to female smokers across the board, regardless of age. Age25354555Coverage amount$500,000$1 million$500,000$1 million$500,000$1 million$500,000$1 millionBestow$50$94$85$163$202$302$479$749Ethos$30$52$36$62$80$149$188$363Fabric$70$133$105$203$312$605$519$984Haven Life$39$69$61$112$153$299$331$657Ladder$41$71$74$137$164$310$262$491SoFi$47$82$85$157$189$357$301$564Lemonade$56$106$86$167$220$434$478$950SprouttN/AN/A$93$181N/AN/A$388N/ATruStageN/AN/AN/AN/AN/AN/AN/AN/AWyshbox$47$82$73$144$180$357N/AN/A The cheapest online life insurance companies for male smokers Like the pricing offered to female smokers, male smokers received the best rates from Ethos. Age25354555Coverage amount$500,000$1 million$500,000$1 million$500,000$1 million$500,000$1 millionBestow$95$183$153$299$328$648$764$1,520Ethos$39$70$46$84$106$197$278$535Fabric$97$187$129$251$407$782$774$1,532Haven Life$51$94$90$172$211$414$460$955Ladder$65$119$94$173$208$397$396$779SoFi$74$137$108$199$239$456$456$896Lemonade$101$196$138$270$301$595$690$1,374Sproutt$84$163$109$213$284$565$617N/ATruStageN/AN/AN/AN/AN/AN/AN/AN/AWyshbox$57$115$112$221$236$468N/AN/A The cheapest online life insurance companies for each age group Life insurance premiums tend to go up as you age. A 25-year-old applicant for online life insurance will see premiums that are a lot lower than a 55-year-old applicant would. Because of this, it’s best to buy coverage as soon as you know you need it. The earlier you buy coverage, the more you’ll save. You’ll find the cheapest life insurance companies for multiple age groups below. Each premium is based on a policy for a non-smoker buying a 20-year term. The cheapest online life insurance companies for 25-year-olds Haven Life offers the most affordable premiums for 25-year-old males, while Wyshbox provides the most affordable rates for females. The cheapest online life insurance companies for 25-year-old males Insurance companyCoverage amountAverage monthly premiumHaven Life$500,000$19Haven Life$1 million$31 The cheapest online life insurance companies for 25-year-old females Insurance companyCoverage amountAverage monthly premiumWyshbox$500,000$12Wyshbox$1 million$20 The cheapest online life insurance companies for 35-year-olds Haven Life offers the most affordable online life insurance rates for 35-year-old males and females. The cheapest online life insurance companies for 35-year-old males Insurance companyCoverage amountAverage monthly premiumHaven Life$500,000$21Haven Life$1 million$34 The cheapest online life insurance companies for 35-year-old females Insurance companyCoverage amountAverage monthly premiumHaven Life$500,000$18Haven Life$1 million$29 The cheapest online life insurance companies for 45-year-olds Haven Life offers the most affordable online life insurance rates for 45-year-old males and females. The cheapest online life insurance companies for 45-year-old males Insurance companyCoverage amountAverage monthly premiumHaven Life$500,000$42Haven Life$1 million$80 The cheapest online life insurance companies for 45-year-old females Insurance companyCoverage amountAverage monthly premiumHaven Life$500,000$36Haven Life$1 million$67 The cheapest online life insurance companies for 55-year-olds Fabric offers the most affordable online life insurance rates for 55-year-old males. Fabric also offers the most affordable rates for 55-year-old females purchasing $500,000 in coverage, but Ethos offers the best premium for 55-year-old females purchasing $1 million in coverage. The cheapest online life insurance companies for 55-year-old males Insurance companyCoverage amountAverage monthly premiumFabric$500,000$143Fabric$1 million$278 The cheapest online life insurance companies for 55-year-old females Insurance companyCoverage amountAverage monthly premiumWyshbox$500,000$104Wyshbox$1 million$199 How to save on online life insurance premiums Life insurance premiums are determined by multiple factors, including your age, gender, health history, and lifestyle choices. While some factors are outside of your control, there are some steps you can take to get the best price for your coverage. Buy coverage as soon as you know you need it: Life insurance premiums increase with age, so the sooner you buy coverage, the less you’ll be paying for the duration of the policy. Additionally, if you experience any negative changs in your health due to age, your rates will also get more expensive. Get healthy: Applicants in good or excellent health pay less than applicants who are in moderate or poor health. For example, if you are overweight, reaching a healthy weight will help you attain a lower life insurance premium. Quit smoking: Smokers pay significantly less than non-smokers. If you quit smoking, it is worthwhile to shop around for a new life insurance policy to see if you can get a lower rate. Compare quotes from multiple insurers: Insurance companies underwrite applications differently. This means you might get lower rates from one insurer and high rates from another. To get the best possible rate, compare quotes from multiple insurers to see who offers you the best rates. Get the right amount of coverage: Determine exactly how much coverage you need so you’re not overpaying for coverage. Most people need 10 to 15 times their income, but you can work with a financial advisor to get a precise dollar amount. The most affordable online life insurance company for one person might not be the best for another. Because of this, it’s important to do your research and compare quotes before buying a policy. By shopping around, you can get the most affordable rate for your unique profile. × Get Free Life Insurance Quotes Today! Zip Code Please enter valid zip Age Age 16 – 20 21 – 24 25 – 34 35 – 44 45 – 54 55 – 64 65+ Coverage Amount Coverage Amount $50,000 – $100,000 $100,000 – $200,000 $200,000 – $300,000 $400,000 – $500,000 $500,000 – $1,000,000 $1,000,000 – $2,000,000 $2,000,000 – $5,000,000 $5,000,000+ Coverage Type Coverage Type Whole Life Term Life Final Expense Not Sure Gender Gender Male Female Non-Binary Tobacco Use Yes No Compare Quotes Related Articles Types of life insurance By Huma Naeem How to read your life insurance policy By Shivani Gite What is cash value life insurance and how does it work? By Desiree Ghazi Bridging the life insurance divide: Insights on coverage gaps among key demographics By Nupur Gambhir Can a spouse override a life insurance beneficiary? By Shivani Gite What is term life insurance and how does it work? By Desiree Ghazi On this page The cheapest online life insurance companies for femalesThe cheapest online life insurance companies for malesThe cheapest online life insurance companies for female smokersThe cheapest online life insurance companies for male smokersThe cheapest online life insurance companies for each age groupThe cheapest online life insurance companies for 25-year-oldsThe cheapest online life insurance companies for 35-year-oldsThe cheapest online life insurance companies for 45-year-oldsThe cheapest online life insurance companies for 55-year-oldsHow to save on online life insurance premiums Get instant quotes now ! Please enter valid zip Get Quotes