There is no way to say what life insurance will cost for any one person. Good life insurance is a policy that has some guarantees, is with a good company, and accomplishes the purposes for which you are purchasing it. To find what the cost of good life insurance for you, you'd need to contact an agency that will help you discern your purposes for your policy, then find your best rate from a good life insurance company.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
To accurately determine the price of good life insurance, visit a good life insurance agent. If you don’t know a good agent get a referral from a colleague, friend or neighbor. You will probably find that once you know how much one policy would be that every other policy is priced to reflect the period of time that the company will be responsible to pay a death claim.
How do you define good? Your question needs to be more to the effect of "How much life insurance do I need for my individual situation today and for the future?". Your life insurance needs are dynamic and will change over time and they may also change depending upon what specific things you are wanting to accomplish using life insurance.
Are you just wanting to make sure your funeral costs are covered and any unpaid bills you leave behind get paid off? Or, are you wanting to take care of those expenses and also provide financial security for the spouse and/or children you leave behind? Are you a business owner whose expertise is critical to the ongoing survival of your business, would your heirs need to hire someone to replace you or risk losing the business? These are just some examples of how different people may have radically different life insurance needs and that there is no simple answer to your question.
You probably need to discuss your needs with a financial planner and an experienced life insurance agent to find the answer that best suits your specific needs and wants.
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Are you just wanting to make sure your funeral costs are covered and any unpaid bills you leave behind get paid off? Or, are you wanting to take care of those expenses and also provide financial security for the spouse and/or children you leave behind? Are you a business owner whose expertise is critical to the ongoing survival of your business, would your heirs need to hire someone to replace you or risk losing the business? These are just some examples of how different people may have radically different life insurance needs and that there is no simple answer to your question.
You probably need to discuss your needs with a financial planner and an experienced life insurance agent to find the answer that best suits your specific needs and wants.
Yes, pennies.
Whether your particular dollar of benefit costs 2,3,4, or 10 pennies depends on how effectively you are prequalified for coverage.
If your broker does a solid job of researching, negotiating, and advocating on your behalf, then you will pay as little as possible.
If not, then you will overpay, or maybe even not be considered eligible for coverage.
Such is the power of prequalification!