A $500,000, 20-year term life policy will cost about 50% more than a $250,000 policy. The greater the life insurance payout, the more you will pay for coverage. A 30-year term costs about 90% more than a 10-year term, but covers you for triple the number of years. A shorter term will cost less, but locks in your rate for fewer years. A $500,000, 20-year term life insurance policy will cost 30-year-old males about 19% more than females of the same age. Men generally pay more for life insurance because their lifespans are shorter, on average. Term life insurance at age 50 can cost up to 212% more than a similar policy at age 30. The older you get, the more a new life insurance policy will cost. Here are some factors that affect life insurance rates: Your personal information will also affect how much your life insurance costs. How much you pay for life insurance is determined by a number of factors, including the type of life insurance, the length of the policy and the death benefit amount you choose.

This can help give you the freedom to do other things with your money and investments because you know you have an asset your family can count on – life insurance.Compare quotes from participating carriers via There are benefits for you from having enough insurance while you are living: You’ll feel better knowing the ones you love will be able to continue their lives without unnecessary financial disruption if you have permanent life insurance (whole life or universal life) you can build cash value that can grow tax free.

At, our insurance advisors and support staff are here to help you gain more understanding of this subject and help you select the right life insurance policy. In a way, it’s a selfless decision since you are looking out for your spouse and/or your children just as you would protect them from dangers and difficulties in life.

It’s unfortunate but people die – some sooner than later, and even though it’s unpleasant to think about, it’s important to do what’s right for those you love.Ī person gets life insurance to make sure that there is money available to maintain the financial life for those who will still be living and have a future.

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