How Much Are Life Insurance Rates?

  1. 155 POINTS
    Jared Wilson
    Insurance Agent, N. Holobaugh Insurance, United States
    Life insurance rates are determined by several factors, such as your age, sex, and health status. What you first need to decide is which type of life insurance works the best for you. Some of the most common options are: Whole life, Term life, and Universal life. Rates will also vary based on which insurance company you decide to go with. I recommend getting a life policy with a company that you know and trust, since you will probably be keeping the policy for several years.
    Answered on April 8, 2013
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  2. 0 POINTS
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    David RacichPRO
    Fountain Hills, Arizona
    There are two sets of rates for the cost of insurance: current company practice and contractual guarantees. Contractual guarantees hedge the current company pricing practices in case they miscalculate their assumptions.  Both of those sets of rates are dependent upon the life insurance company’s actuarial assessment of life expectancy and their profitability targets. Life expectancy is based on gender, age, health condition and lifestyle behaviors like motor vehicle violations, recreational activities and hazardous vocations. 
    Answered on May 27, 2013
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  3. 1165 POINTS
    Chris Abrams
    Founder, Abrams Insurance Solutions, Inc., San Diego, CA
    Life insurance rates will vary widely depending on several factors:  age, gender, amount of coverage, length of coverage and health rating.  There are different types of policies depending on your needs, such as term insurance, whole life and universal life.  Rates may range from a few dollars a month to thousands per month depending on your situation and what you want to accomplish with insurance.  Discuss your situation with a knowledgeable independent advisor who can help you navigate the many options.
    Answered on June 4, 2013
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  4. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Life insurance rates are calculated as a certain cost per thousand dollars of life insurance. E.g. If the factor is $1.00 per thousand, a person could get $100,000 of life insurance for $500 per year, plus an annual fee. The cost per thousand varies greatly between smokers and nonsmokers, young and old, short terms and long terms, and the health rating for which the applicant qualifies.
    Answered on September 5, 2013
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