How Much Does Life Insurance Cost?

Term Life Insurance. This is the kind that just pays a death benefit. If you die your beneficiaries get the death benefit. You buy the policy for a specific term of years, for example 10 years. Your policy is then in effect for that length of time at which point it expires and you get a new policy. Of course you have to pay the premiums every year. Term life insurance is the least expensive kind, but how much does it cost?

The cost depends on several factors including your age, health, life style, the length of the term, and what company you get it from. For example, if you are young, healthy, don’t drink, smoke or sky dive, are looking for term life insurance and are willing to shop around for the cheapest rates, then you might be able to get life insurance for less than $1 per year for each $1,000 of life insurance you buy. Less than $500 per year for a $500,000 term life insurance policy.

If on the other hand, you are older, have health problems, smoke, fly an airplane and don’t wish to shop around, then you will have to pay a lot more for insurance.

Whole Life. Whole life insurance has a death benefit, but also includes a savings component. You pay a lot more into the policy, but it can build in value over the years, and you may be able to withdraw money at some point. There are so many plans and variations to whole life insurance that it is impossible to make a general statement about cost. Many people think it is better to just get term life insurance and do your retirement planning elsewhere.

Get Life Insurance Quotes and Rates here:

SureHits lists several major providers

Enter Zip:

InsureMe connects you to local life insurance agents.


Enter Zip:

http://www.insurance.ca.gov/0100-consumers/0060-information-guides/0020-life/life-insurance.cfm