How Much Does The Average Life Insurance Policy Cost?
- 16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIThis question does not have simple or straight forward answer. I can tell you that rates can range from about $20 to unlimited for many life insurance policies. Rates vary depending on type of policy that you are looking to purchase, the insured's age, the insured's health, and the insured's family history just to name a few factors. Contact your local agent to discuss what your wants, needs, and expectations are of the policy so that they can help guide you to the proper policy for you.Answered on April 22, 2013flag this answer
- 37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaSince life insurance pricing is all mathematical and companies are all using similar if not exactly the same information, the costs for policies should be similar as well. However, there are two separate steps to determine what your cost might be. The average cost is determined by historical data, but the underwriting process evaluates your application to determine if it is “average” or standard. If there are concerns that affect your longevity, the company might offer insurance at something other than standard rates.Answered on August 1, 2014flag this answer
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