What does term life insurance cost?
The cost of a term life plan can vary based on several different factors.
For instance, the amount of life insurance will affect your premium, as well as, the length of time you have term life protection - 10, 15, 20 or 30 years.
In addition, rates will vary by insurer based on each insurer's pricing guidelines and their loss experience for certain types of risk, such as, senior citizens or people with diabetes, or smokers.
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How can you find out how much your term insurance plan will cost?
You can contact a local life insurance agent or you can compare free, instant term life rate quote comparisons online from several leading insurance companies.
What Factors Determine the Cost of Term Life Insurance?
There are several factors that may affect your rate for term life insurance, including but not limited to:
Term life plans offer you the most life insurance protection for your money when compared to permanent life insurance which provides lifetime coverage.
Term life is pure life insurance protection, meaning you get life insurance only, there is no investment component to the policy. That's one reason why term insurance costs a lot less than permanent insurance.
In addition, term life is temporary coverage for a specific period of time - from 1-30 years, or until you reach age 65 or 70.
Since term insurance is short term coverage, it costs much less than a permanent life policy, which means you can afford more life insurance protection for your family.
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Term Life Insurance Cost | Globe Life Insurance
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