The cost of life insurance premiums will depend mostly on your age and health. But, there are other factors at play, like, risky activities you partake in, if you smoke, etc.
A $100,000 life insurance policy is probably not enough coverage for most people, but it is a fair amount of money that will go a long away in helping your family in case you, or the person being insured, dies.
It will pay for funeral expenses or final expenses, help pay for college tuition, help pay down the mortgage, and maybe there will be some left over to pay outstanding bills.
This is difficult to answer without knowing your particular situation, but a good rule of thumb is, that you should get 5 to 10 times the amount of your annual salary in life insurance.
So, for example, if you make $50,000 dollars per year, you should get a policy in the amount of $250,000 to $500,000. But, if you can only afford around $100K, don't wait much longer and get your policy as soon as possible - the longer you wait, the costlier it will be.
The monthly premium quotes below are for a male who is in fair health and is a non-smoker. Note, however, that a man or woman in poor health and a smoker will pay significantly higher premiums.
|AGE / Gender||$100,000|
|30 Year Old Man||$18.95|
|35 Year Old Man||$22.14|
|40 Year Old Man||$29.90|
|45 Year Old Male||$44.35|
|50 Year Old Male||$64.33|
|55 Year Old Male||$86.77|
The following premium costs per month are for a female who is in fair health and is a non-smoker.
|30 Year Old Woman||$16.27 per month|
|35 Year Old Woman||$18.68 per month|
|40 Year Old Female||$23.65 per month|
|45 Year Old Woman||$31.73 per month|
|50 Year Old Female||$46.90 per month|
|55 Year Old Woman||$73.52 per month|
Female seniors aged 65 to 75
|65 year old woman||$38.32|
|66 year old woman||$43.71|
|67 year old woman||$47.90|
|68 year old woman||$53.37|
|69 year old woman||$59.22|
|70 year old woman||$67.32|
|71 year old woman||$75.37|
|72 year old woman||$85.69|
|73 year old woman||$95.57|
|74 year old woman||$108.37|
|75 year old woman||$115.72|
Male seniors aged 65 to 75
|$100,000 (monthly)||$100,000 (yearly)|
|65 year old man||$63.67 monthly||$764.04 per year|
|66 year old man||$71.35 per month||$856.20 yearly|
|67 year old male||$82.50 monthly||$990.00 per year|
|68 year old man||$92.86 per month||$1114.32 yearly|
|69 year old man||$104.69 monthly||$1256.28 per year|
|70 year old man||$116.51 per month||$1398.12 yearly|
|71 year old male||$136.86 monthly||$1642.32 per year|
|72 year old male||$152.51 per month||$1830.12 yearly|
|73 year old male||$172.11 monthly||$2065.32 per year|
|74 year old male||$194.16 per month||$2329.92 yearly|
|75 year old male||$220.42 monthly||$2645.04 per year|
The prices shown above for men and women in regular health will change if you smoke, have or have had certain medical problems. It's best to ask your insurance advisor on the phone.
If you are taking medication for high blood pressure (hypertension), diabetes, or high cholesterol, you still may qualify for the regular rates above. But, you'll have to show the insurance company that any medical conditions are well under control and your health is good. A visit from a medical professional and a blood test will be needed.
If you are an occasional cigar smoker, some companies may give you non-smoker prices, but it will be evaluated on an individual basis.
In case you cannot qualify for a regular life insurance policy, you can always try a no medical exam policy. These are more expensive, but you will qualify much easier.
Yes, you can. You can make some changes to your life to lower the rates.