How Much Does a $250,000 Life Insurance Policy Cost?

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.

Choose your age bracket for a $250,000 life insurance policy:

The $250,000 will most likely be enough to pay for your funeral expenses, pay the mortgage, and pay some outstanding debts.

What Do Financial Planners Recommend?

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.

"Don't leave your family in a bad situation, get plenty of life insurance!"

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Example Premiums For Men | Example Premiums For Women

Average rates for a 20-year term, $250,000 dollar life insurance policy for a non-smoker man in good health.

AGE $250,000
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

09/22/2021 - These average monthly costs are just estimates. Your quoted prices will be different.

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Example premiums for a 20 year term, $250K life insurance policy for a woman in good health and non-tobacco user.

AGE $250,000
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

09/22/2021 - These average monthly premiums are just estimates. Your quoted prices will be different.

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Life Insurance Costs Are Affected By Your Health

The premiums shown above ar for non-smoking males and females in good health.

Having certain medical conditions like heart disease, kidney disease, being obese, diabetes, plus many more, can raise your life insurance premiums a lot. You may even be denied coverage.

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.

What If I'm Denied Coverage?

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.

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