Getting the average life insurance cost per month can help you decide whether it’s worth investing in a policy. There are some factors to consider, including how long you plan on having the policy, your age, your health and the number of people you’re planning to insure. AgeTerm life insurance costs vary from person to person. There are many factors that can impact the cost of life insurance. Some of these factors include age, gender, and health. Fortunately, there are some things that you can do to make your life insurance policy affordable. You can also buy whole life insurance, which lets you make premium payments until you die. In order to determine the average life insurance cost per month, Bankrate analyzed life insurance quotes from five of the biggest insurers. They used a 20-year term life insurance policy with a $500k death benefit. This is an average rate based on an applicant in excellent health. The rates were calculated for males and females ages 20 to 60. There are many factors that can impact the cost for life insurance, but age is by far the most important factor. The cost of life insurance is higher for men than women. Women are also more likely to live longer than men. You will also pay more if you smoke, have high blood pressure, and live a risky lifestyle. You can also add riders to your policy, such as an accelerated death benefit. This will reduce the cost of your policy, but most insurers charge a fee for adding riders. Purchasing life insurance is a necessity in every financial situation. You should know how to calculate your insurance age so you can get the best price. HealthDepending on your age and your health, the average life insurance cost per month may vary. However, in general, you can expect to pay around $25 a month for a healthy 30 year old. Getting a life insurance policy is an important decision, but it’s not the only thing you should consider. You should also consider your lifestyle and your family situation. Getting a life insurance policy is important because you need to ensure that your family is taken care of in case of your death. In the event of your death, your family will likely need financial assistance to pay for your funeral and other expenses. Depending on your age, your family situation and your health, the cost of life insurance can vary greatly. The cost can also vary from one insurer to the next. Your best bet is to do some comparison shopping before deciding on a policy. The average life insurance cost per month isn’t a direct correlation to your age, but it does depend on your lifestyle and your health. For example, you may be able to save money on your life insurance premiums by purchasing a shorter term policy. If you’re a smoker, you can expect to pay a higher premium. In addition to your monthly premium, you should consider a rider like an accelerated death benefit, which will pay out your medical expenses if you become terminally ill. A child insurance rider will also give you a small amount of coverage for your children. Guaranteed insurability riderAdding a guaranteed insurability rider to your life insurance policy can help you increase your coverage and peace of mind. This type of life insurance option is especially helpful for young, healthy individuals who want to buy a permanent life insurance policy. A guaranteed insurability rider gives you the ability to purchase additional coverage, without requiring evidence of your insurability. It can be purchased for as little as $100-$200 a year. Depending on the type of policy you purchase, the amount you add will have an upper and lower limit. For example, a $100,000 death benefit could be added all at once or over a series of 10 periods. Assurity will assign you to a rate class, such as standard or preferred best, which influences your premium. Guaranteed insurability riders may also have an age limit. The age limit may vary from company to company and is usually capped at 40. Some insurers may also have a limit on how many times you can exercise the option. The costs for a guaranteed insurability rider are based on age, income and insurance carrier. The cost will also be influenced by the type of policy and the amount of coverage you wish to purchase. The guaranteed insurability rider is a great option for people who expect to have changes in their health in the future. This type of policy is especially helpful for people who have certain illnesses, such as diabetes, that are hereditary. These illnesses are often not covered by life insurance, which means your loved ones may not have coverage should you pass away.