Term Policy Premium Calculator
Calculate Your Life Insurance Costs Instantly
What is a Term Policy Premium Calculator?
It’s a tool consumers can use online that allows them to instantly compare the best prices available for term life insurance from several of the leading life insurance companies in America.
Helpful Hints When Comparing Term Life Prices
- Compare Rates from Multiple Insurers – Prices for life insurance vary by insurer, so make sure to compare pricing from several carriers before choosing a policy.
- Know How Much Life Insurance You Need – Use a life insurance needs calculator to help you choose the right amount of life insurance that fits your specific needs and goals.
- Determine Length of Coverage – Term life offers coverage lasting for a policy term of 10, 15, 20, 25, 30, 35 or 40 years. The longer your term of coverage, the higher your annual cost. So, make sure to choose the right length of life insurance protection.
- Compare Pricing for Different Terms – Make sure to compare prices for different policy terms – 10, 15, 20 years, etc. You may find it doesn’t cost that much more per year to get insured for an additional 5 years.
- Choose Annual Payment Option – Insurers charge an additional service fee for multiple premium payments per year – monthly payments. It’s cheaper to pay your premiums annually – once per year.
- Get Healthy – People in good health qualify for a lower rate on their life insurance. For instance, if you lower your cholesterol and lower your blood pressure, you may qualify for a more affordable premium.
- Lose Weight – People who are obese or overweight have a higher risk of developing health problems and dying at a younger age. That’s why they pay a higher rate for life insurance.
- Quit Smoking – Smokers usually pay up to 2-5 times more for the same amount of life insurance as non-smokers.
- Buy Now – Rates for life insurance increase with age. That’s why it’s usually a good idea to buy life insurance while you are younger and healthier, to lock-in a lower price on your policy.
Things to Consider for Term Life Insurance
- Renewable Term Clause – Make sure your policy offers the option of renewability, in case you need your life insurance coverage extended when your original policy term ends.
- Conversion Privilege – This offers you the option to convert your term life insurance into permanent life insurance before your term policy expires.
It’s important to consider pricing, duration of coverage, and the financial strength rating of the insurance company when shopping for life insurance.
Term Life Insurance Quotes
Top Pick – JRC Insurance Group
JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote.
Term Policy Premium Calculator
Disclosure: Compensated Affiliate