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How Much Does Term Life Insurance Cost?
The price of your term life insurance policy depends on a variety of factors. Though your health history affects the price of your policy, your gender, age, and use of tobacco play important roles in determining your policy price as well. The following factors will influence the price of your life insurance policy:
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Smoking
- If you use tobacco, smoke cigarettes, or smoke cigars, your term life insurance policy will be more expensive.
- Insurance agents charge tobacco users more for their policies because they are considered a greater risk candidate because of their habits.
- If you quit smoking after you obtain your term life policy, your agent may reduce the price of your policy.
If you smoke the occasional cigar, your agent will not charge you as much as he would a regular tobacco smoker.
Non-Smoking
- Non-smokers receive better rates than smokers.
Other factors, such as age and gender, still have an effect on non-smoker policies.
Gender
- Women generally pay less for their term life insurance.
- Men usually pay more for a term life insurance policy than a woman of similar health status.
Age
- Younger people pay less for term life policies because they are considered less of a risk.
- The older a person gets, the more they will have to pay for a term life insurance policy.
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Term Life Insure provides information at no cost concerning insurance products and services but is not an insurer or an agency. Please speak to your insurance agent for more information. Not all products are available in all states.
