The first thing you must do is to search for cheap life insurance quotes. There are so many web sites that claim to offer free quotes, but the truth is, they end up charging you, which defeats the purpose of getting a quote in the first place. Life insurance premiums vary depending on your health and age at the time of application. Therefore, it is best to search for life insurance cost estimates before making any purchase.

Average life insurance cost by age Average term life insurance premiums by age for a healthy individual between ages eighteen to seventy, life insurance cost an average $67 a month for a twenty year, and $250,000 whole life policies. You can receive a free life insurance quote for your specific age or get the average cost for your age from the table shown below. The average cost is just one of many factors that have a large impact on your life insurance cost.

Age Gender Male Female People often looks for cheaper term life insurance policy that will cover them for just the basic cost, but that’s not always the case. Men usually pay more for the same coverage as women. If you want to know what the average cost would be for you, use the tables given below.

Gender Male Female Most life insurance companies offer a standard price for a man, but this doesn’t mean that women don’t pay less. The price will depend on the gender of the person applying for coverage. Statistics show that men are more likely to die earlier. They also live longer than women. So, men will probably pay more for the same coverage benefits.

Medical History Men are more likely than women to have some type of pre-existing medical condition. This can lower their life insurance premiums. It can also increase their overall insurance costs. So check with your insurer. If you have any questions, make sure you understand the difference between a pre-existing medical condition and something you may have done in the past.

Final Expenses You pay a premium every month to protect your family in case of your death. Some people opt to lower their premiums to lower their payments. This means that your final expenses will be covered for less. For example, let’s say you have $1000 to protect your spouse and children. If you take a lower premium, you may save money and pay fewer fees on your life insurance policy.

Annual Percentage Rate (APR) Most insurance companies calculate the annual premium by assuming you will receive the same number of years in your life. But, if you’ve changed jobs or lost a job in the last three years, you might not have the same number of years. You can adjust your annual premium accordingly. Your insurer will calculate your new APR based on your new adjusted monthly payment and your previous years’ average annual premium.

If you have some gaps in your medical history, you might want to choose the “practice” option. You pay a higher premium but you only pay for coverage when your death or hospitalization occurs. Also, this option assumes that you have “no claims discount.” If you do have claims, your premiums will increase. You should talk to an insurance agent about any concerns you have with these different options so that you can make an informed decision about the coverage you need.

Simplified policies. Some insurance carriers are now offering more simple, or “simplified” life insurance rates. These policies have fewer complex terms and only require a basic application. Also, they don’t include the death benefit, which is why many consumers think they’re getting a cheaper quote. The rates still vary depending on your age and occupation.

How long do life insurance policies cost? In general, the longer you can go without making a claim, the lower your rate will be. But, this also depends on your health history. If you smoke cigarettes for three or more years, your premiums will be higher than someone who hasn’t smoked for those same three years. Or, if you have had a past injury, you’ll pay more. But, if you’ve never had a law violation or traffic ticket, your insurance will cost the same as someone who has a clean driving record.

If you want to know how much it’s going to cost to receive permanent life insurance coverage, the best way to do so is to contact an insurance agent. An agent can help you determine exactly how much coverage you need, based on your age, occupation, and other factors. Once you have this information, it’s easy to compare different quotes and make the best decision possible.