How Much Does Life Insurance Cost
How Much Does Life Insurance Cost
You don’t have to guess How Much Does Life Insurance Cost anymore because you can get that answer right here. Make a decision first on whether you want to buy term life or cash value life insurance. You will also need to know the amount of coverage you will need.
Term life – which has a certain coverage for a defined term of time without any “cash value” that builds up over time – is the most straightforward kind and is generally substantially less expensive.
Now that you know that lets talk about the typical cost. Several test have been ran and an average but fit male that does not smoke and has set his sights on a 20 year policy with $500,000 of term life insurance would more than likely pay the following amounts.
30 year old – $24-$31 a month
40 year old – $31-$40 a month
50 year old – $83-$92 a month
If you are an obese male then the numbers above double and in some cases triple for the elderly. It pays to be fit so that you can save money as an older human being.
