The cost of life insurance depends on many factors.
1) How much life insurance you want to get
2) How long you want the premium to be locked in. You can get anywhere from annually renewable term, where the price can go up each year, to permanent insurance, where the price never goes up. Usually, the longer you lock in the price, the higher the premium.
3) Your health or other risk factors such as drug/alcohol treatment, dangerous hobbies such as parachuting, family history of early heart disease or cancer, etc. A nonsmoker with perfect health, normal weight and no other risk will pay the lowest rates.
4) Whether you want your policy to just give you death protection (Term Life) or build up a cash value to use in other situations (Whole or some Universal Life). The latter costs more, but it also may simply reduce what you put away elsewhere.
Life insurance can fit almost any budget. By talking to an agent knowledgeable about all of the above factors and able to compare prices, most people can find affordable life insurance.
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1) How much life insurance you want to get
2) How long you want the premium to be locked in. You can get anywhere from annually renewable term, where the price can go up each year, to permanent insurance, where the price never goes up. Usually, the longer you lock in the price, the higher the premium.
3) Your health or other risk factors such as drug/alcohol treatment, dangerous hobbies such as parachuting, family history of early heart disease or cancer, etc. A nonsmoker with perfect health, normal weight and no other risk will pay the lowest rates.
4) Whether you want your policy to just give you death protection (Term Life) or build up a cash value to use in other situations (Whole or some Universal Life). The latter costs more, but it also may simply reduce what you put away elsewhere.
Life insurance can fit almost any budget. By talking to an agent knowledgeable about all of the above factors and able to compare prices, most people can find affordable life insurance.