Your life insurance average costs for a $250K policy will vary depending on your age and health status, but, they can still be affordable.
A $250,000 life insurance policy may be enough for most people, but, depending on your situation, you may need a higher amount. Either way, $250K is still a lot of money that will go a long way helping with expenses.
The $250,000 will most likely be enough to pay for your funeral expenses, pay the mortgage, and pay some outstanding debts.
It's recommended that you get five to ten times your yearly salary in life insurance coverage. For example, if you earn $45,000 per year, you should get a term or whole life insurance policy in the amount of $225,000 to $450,000.
|30 Years Old||$14.23|
|35 Years Old||$16.90|
|40 Years Old||$18.30|
|45 Years Old||$33.75|
|50 Years Old||$42.60|
|55 Years Old||$72.10|
|60 Years Old||$113.10|
|30 Year Old||$12.15|
|35 Years Old||$14.50|
|40 Year Old||$17.10|
|45 Years Old||$28.90|
|50 Year Old||$32.11|
|55 Years Old||$63.10|
|60 Year Old||$99.15|
The premiums shown above ar for non-smoking males and females in good health.
Taking some kinds of medications can also affect your costs. For example, diabetes medication, high blood pressure medication, cholesterol medication, etc.
The insurance company will determine your premiums according to a blood test and medical exam.
If you happen to be denied life insurance coverage, you can try getting a guaranteed issue or no medical exam life insurance policy. These policies will cost more than a typical term or whole policy, but they are guaranteed.