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$10,000 Whole Life Insurance Policy [Sample Rates by Age]

Fact Checked by Jason Herring & Barry Brooksby
Licensed Agents & Life Insurance Experts.
Insurance and Estates, a strategic life insurance provider composed of life insurance professionals, is committed to integrity in our editorial standards and transparency in how we receive compensation from our insurance partners.
10000 whole life insurance

Most life insurance policies that focus on smaller death benefits, such as a $25,000 whole life insurance policy, are usually going to be what are called final expense or burial insurance policies.

Final expense life insurance policies are usually reserved for folks over the age of 50, although some companies offer policies at age 45.

These burial insurance policies for seniors will also tend to not require a medical exam and will typically have the insurance applicant answer a few, simple medical questions (if any) prior to approval.

How Much Does a $10,000 Whole Life Insurance Policy Cost?

You can scroll down or simply click on the age group your interested to view the whole life insurance rates by age.

The following sample quotes are for informational purposes only. All life insurance rates are subject to change.

All premium quotes are for a $10,000 whole life insurance policy, with fixed premiums, guaranteed death benefit, and guaranteed cash value growth.

$10,000 Whole Life Insurance Rates ages 20-45

All whole life premiums shown below are fixed and will not increase.


$10,000 Whole Life Insurance Rates ages 50-59

All whole life rates shown below are fixed and will stay the same for your lifetime.

AgeLevel BenefitGraded BenefitGuaranteed Issue

$10,000 Whole Life Insurance Rates ages 60-69

All whole life quotes shown below are guaranteed to stay the same for your lifetime.

AgeLevel BenefitGraded BenefitGuaranteed Issue

$10,000 Whole Life Insurance Rates ages 70-79

All whole life insurance quotes shown below are guaranteed to stay the same for your lifetime.

AgesLevel BenefitGraded BenefitGuaranteed Issue

$10,000 Whole Life Insurance Rates ages 80-85

All whole life insurance rates shown below are fixed for life and will not increase.

AgesLevel BenefitGraded BenefitGuaranteed Issue

Benefits of Whole Life Insurance

The pros of whole life insurance are many. But there are three primary benefits inherent in most whole life policies.

Whole life insurance has three primary benefits, which include:

  • Guaranteed death benefit
  • Guaranteed fixed premiums
  • Guaranteed cash value

What that means for you is your death benefit will stay the same, so you do not have to worry about it decreasing over time.

Also, your premiums remain fixed for the life of the policy, so what you pay in day one is what you pay years down the road.

And the policy builds cash value, so that you can use the cash value to borrow against, pay premiums for a time or use it to buy paid-up life insurance .

Level Benefit Life Insurance

Level benefit life insurance is full coverage that begins on day one. That means, once the policy is inforce, the full death benefit is paid to your beneficiary whether your death is due to natural causes or deemed an accidental death.

Graded Benefit Life Insurance

Graded benefit life insurance is coverage that begins from day one, but only partially pays out if you die from natural causes during the first 2 or 3 years of the policy.

The death benefit is graded, meaning it pays maybe 30% of the full face amount in year one, and 70% of the full face amount in year two, with the full face amount paid out in year three and onward.

If the death is due to an accident, the full face amount will be paid form when the policy began.

Guaranteed issue life insurance

In some cases these types of policies will fall under a category of insurance products called Guaranteed Issue life insurance policies.

Guaranteed issue life insurance policies are those that will guarantee any applicant approval provided that they:

  • Meet minimum age requirements.
  • Are a US citizen/legal resident.
  • And have proper means of payment (bank account or credit card).

Which means that even if you suffer from some type of medical condition (cancer, congestive heart failure, Alzheimer’s) or participate in some type of lifestyle choice (sky diving, base jumping, bull riding, etc, etc..) you can be approved for these types of policies.

Something to take note of is that these policies are whole life insurance. And whole life insurance policies will generally cost more than an equivalent term life insurance policy.

So by choosing to buy a $10,000 whole life insurance policy, you’ve already elected to purchase a much more expensive policy, dollar for dollar, than had you chose a term life insurance policy.

Now these smaller whole life insurance policies are priced for individuals who are not that healthy.

Which means, even if you’re super healthy and athletic for your age group, if you choose to purchase a smaller whole life insurance policy, you’re most likely going to receive the same price quote as someone who may be:

  • A tobacco user.
  • Morbidly obese.
  • Suffering from cancer.
  • On dialysis.

So why would anyone buy these types smaller whole life insurance policies?

The answer is simple: for some, being able to find an insurance company that is willing to offer them some “true” life insurance coverage, even a small amount—like $5,000, $10,000, or $15,000—can be a challenge.

Clients who are currently ill with conditions like:

  • Congestive heart failure.
  • Alzheimer’s disease.
  • Cirrhosis of the liver.
  • Kidney dialysis.
  • Aids.

Including individuals who have previously been declined life insurance due to their:

  • Driving record.
  • Credit history (multiple or current bankruptcies).
  • Previous criminal record.
  • Loss of a driver’s license due to child support/alimony delinquencies.
  • Exotic travel plans (Haiti, certain areas in Middle East, etc, etc…)

Now, while each of these conditions should be individually examined to confirm that a fully underwritten term or whole life insurance policy truly isn’t an option, it’s quite possible that what would be a horrible option for one person may be another person’s saving grace.

*We here at I&E understand that for many a small life insurance policy is exactly what they need.

That being said, we’re also extremely talented in finding coverage for those who have been previously declined by other insurance brokerages.

For this reason, we always begin the application process by assuming that you can qualify for traditional life insurance. This way, we don’t leave any options unexplored.

Look, I’ve already been declined…. TWICE!

OK, for those who really can only qualify for a small life insurance policy, who is the best final expense life insurance company for them?

Well, again it depends. And unfortunately, even though we’re only talking about purchasing a small life insurance policy that will usually go in force very quickly, there are several things that need to be considered but are usually ignored by many life insurance agents.

The Reality of the Situation.

Small life insurance policies generally generate small life insurance premiums which translates into small life insurance commissions.

Meaning that for many life insurance agents out there, once it’s been determined that you either can’t qualify for a larger life insurance policy or that you’re not interested in purchasing a large life insurance policy, its really not financially profitable for an agent to spend that much time working with you.

As a result, many clients will end up:

  • Over paying for their life insurance simply because they we’re presented with several options.
  • Buying a life insurance policy that they don’t fully understand.
    • They may not realize that their policy has:
      • Certain exclusions (such as a Graded Death Benefit).
      • An increasing premium that will eventually make the product too expensive to maintain.
    • Or maybe end up with a product that doesn’t even cover natural causes of death such as cancer, heart attack, or stroke. These folks mistakenly purchased an Accidental Death Policy.

How We Differ:

I&E differs from many other agencies because while fully capable of placing difficult high risk life insurance applications, we also understand that for many, there is an enormous need for just enough life insurance to help pay for ones final expense.

I’m just looking for enough coverage to pay for my burial expense.”

If it makes sense and costs the same to get more than just a small burial life insurance policy, let’s go for it!

But if it doesn’t, let’s have dozens of different smaller life insurance policy options immediately available for us to quickly determine which is right for you!

2 comments… add one
  • Allyson gray March 20, 2023, 3:58 pm

    I’m look for life insurance for my 36 year old son but don’t want to pay a arm or a leg for it just need 10 000 on him

    • Steven Gibbs April 5, 2023, 8:58 am

      Hello and thanks for commenting. A good first step would be to request a call from our expert Jason Herring by emailing him at jason@insuranceandestates.com.

      Best, Steve Gibbs for I&E

      Steven Gibbs is a licensed insurance agent, and the following agent
      license numbers of Steven Gibbs are provided as required by state law:

      Resident License; AZ agent #17508301,
      Non-resident Licenses: TX agent #2273189, CA agent #0K10610,
      LA agent #769583, MA agent #2049963, MN agent #40563357,
      UT agent #655544.

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