The cost of life insurance varies a lot based on factors such as age and health of the applicant, tobacco use, and the type of policy. You may see or hear ads about people being able to get short Term life insurance for under $10/month, and that is possible for nonsmokers who are young and in excellent health. But while they are eligible for such good rates, that is also is a good time to lock in a premium for a long Term or permanent policy, if long term insurance is important to them.
It is wise to find an agency that can shop to find the best rate for your particular health and age, but also help you look at the big picture and design your life insurance to meet your needs, desires, and budget.
Insurance Advisor, Lordship Insurance Services, California
LIfe Insurance pricing is like going to the grocery store; lots of different choices.It will depend on a variety of factors including;1) Age - younger is less expensive2) Health - good health is less expensive than health issues3) Tobacco usage - non smoker is less expensive4) Gender - Females tend to be less expensive than males at same age5) Type - term insurance is less expensive the younger you are since its pure insurance. Some universal life policies can offer premium options that make it less expensive than whole lifeFind a company that can provide you a quote based on your circumstances and then compare various types of plans offered.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
Both answers above are correct. My first answer to "How much does life insurance cost" would be to ask, "How much life insurance do you want or need?" The amount of benefit is a major factor in premiums for life insurance.
Then the other factors such as age, health, tobacco use, gender are the other major factors. Then there's the type of insurance: Whole Life, Term, Universal, etc. When comparing Term policies the next biggest factor is the length of the term. And then there's the insurance Company to consider. Different companies have different premiums for the same basic policy. Then there are "riders" that increase the benefits of the policy. Your best bet is to consult an Insurance Adviser who can broker several different companies and help you to compare.
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It is wise to find an agency that can shop to find the best rate for your particular health and age, but also help you look at the big picture and design your life insurance to meet your needs, desires, and budget.
Then the other factors such as age, health, tobacco use, gender are the other major factors. Then there's the type of insurance: Whole Life, Term, Universal, etc. When comparing Term policies the next biggest factor is the length of the term. And then there's the insurance Company to consider. Different companies have different premiums for the same basic policy. Then there are "riders" that increase the benefits of the policy. Your best bet is to consult an Insurance Adviser who can broker several different companies and help you to compare.