Average Life Insurance Premiums

What Are Average Life Insurance Premiums?

If you’re shopping for life insurance, you may be asking yourself this question.

There is no one right answer for the average cost of a life insurance policy, because the prices for life insurance may vary based on your age, gender, insurance company, type of life insurance, amount of coverage, and several other factors used to determine your rate for life insurance. 

Obviously, none of us wants to pay more than the average for anything, especially life insurance. But, maybe you don’t have to.

Why, because by comparing rates on life insurance from several of the highest-rated insurers you may save up to 70% on your life insurance policy.

Compare Life Insurance Premiums

  

What Is The Lowest Priced Life Insurance?

Term Life Insurance provides protection for a specific period of time, usually 5, 10, 15, 20 or 30 years. Term life insurance builds no cash value inside the policy it is pure life insurance protection.

You pay only for the life insurance coverage. Term life offers you the maximum amount of life insurance for the lowest price.

 

Life Insurance Savings When Comparing Multiple Quotes

When you combine the lower rates in the industry with the savings you get by comparing multiple quotes, you may save hundreds of dollars per year on your life insurance policy.

That’s a good thing, especially since we could all use a little more money in our pockets, rather than paying more to a large insurance company than you need to.

 

How Is The Average Cost Of Life Insurance Determined?

There are several factors that life insurance companies consider when deciding what they will charge you for your life insurance policy.

Among the most common factors considered for rating your life insurance policy are the following: 

  • Age.
  • Gender.
  • Health condition.
  • Amount of coverage.
  • Type of life insurance plan.
  • Your family’s health history.
  • Length of the life insurance plan you need.
  • Your occupation.
  • Your hobbies - Do you have any high-risk hobbies?
  • Do you smoke?
  • Are you on medication?

 

How Can You Find The Best Life Insurance Prices?

Buy comparing instant life insurance quotes online from top-rated insurers nationwide, with no obligation. You just fill out a short life insurance quote request form and instantly receive the five lowest prices from over 70 leading life insurance companies. 

  

Tips For Comparing Life Insurance Premiums

  • Compare quotes from several carriers.
  • Lock-in rates 6 months before your next birthday.
  • Compare rates at the next highest $100,000 limit of coverage.
  • Compare premium payment options for monthly, quarterly, semi-annual, and annual payments.
  • Compare rates for 10, 15, 20 and 30 year terms.
  • Consider the financial strength rating of the insurance companies.

 

How Much Life Insurance Do I Need?

On average, women have $129,800 of individual life insurance, while men have $187,100 of individual life insurance coverage. (Source: LIMRA 2011 Insurance Statistics). To determine how much life insurance is right for you, we recommend you use this quick and easy life insurance needs calculator that will ask you some questions and instantly give you an accurate estimate of your life insurance needs.

 

Compare Life Insurance Premiums

  

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Average Life Insurance Premiums


 


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