There are several factors that determine what one might pay for a one million dollar policy. The applicant's age is the first thing to consider. The next issue is the applicant's health, which determines the rate class that the insurance company offers.
Then there is the type of insurance. Even term insurance, which only provides a death benefit with no living benefits will vary in cost depending on the level-premium timeframe chosen.
A one million dollar life insurance policy can be purchased for $20 per month. But only if you are a perfectly healthy 21 year old non-smoker. And that rate will only be guaranteed for 10-years.
Life insurance is sold at different prices to different people. No two people have the same health history, gender, smoking status, family history, etc. Plus you may only need your term life policy for 2--years and your twin brother may want his for his entire lifetime. That will greatly affect the price.
To see what a million dollar life insurance policy might cost for you, you can visit a website that offers free, instant life insurance quotes. That way you can put in different term lengths and health factors to see what the cost for your million dollar life insurance policy would be for different products and with different risk factors. Contact the website personally to confirm your quote.
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Then there is the type of insurance. Even term insurance, which only provides a death benefit with no living benefits will vary in cost depending on the level-premium timeframe chosen.
Life insurance is sold at different prices to different people. No two people have the same health history, gender, smoking status, family history, etc. Plus you may only need your term life policy for 2--years and your twin brother may want his for his entire lifetime. That will greatly affect the price.