Well in a nutshell people purchase 30 year term life insurance with level coverage to keep premiums fixed over a 30 year period. It s worth taking some time to compare rates to 30 year term life policies because oftentimes similar plans can vary by hundreds of dollars from one carrier to another.
What is the average 30 year term life insurance cost.
30 year term life insurance quote. The other option is to reach out to an agent or search other quoting sites. The cost of a 30 year 500 000 term policy for a 30 year old woman could come with fixed monthly premiums of 27 to 70. At age 30 the difference between 250 000 and 500 000 or even 1 million in coverage is typically 10 or less.
Some life insurance calculators may consider additional factors such as geographic location family health history driving violations or even your hobbies. That s 150 per year more than the 20 year term policy or about 3 000 higher over 20 years. Additionally the type of policy policy length and the benefit amount you choose will have an impact on the cost of your life insurance policy but a 30 year term life insurance policy will likely cost more than a 20 or 25 year term life.
At age 40 premiums on a 30 year term could cost her 43 to 97 a month. What does 30 year term life insurance mean. Based on our research pacific life the cheapest company tends to charge 13 47 a month for a 250 000 20 year term policy for a 30 year old woman.
The premium will be roughly 50 higher on a 30 year term than on the 20 year. Get free instant 30 year term quotes and see our rate chart. The easiest and fastest way to get some 30 year term life insurance quotes is to use our quote tool on the right of your screen.
Compare 30 year term life insurance rates in seconds. A 30 year term policy also gives you many many years with your affordable life insurance coverage in place so you can focus on other things besides insurance like building a financial safety net that many of us don t have in our 20s 30s and 40s. Comparing 30 year life insurance rates.
Look at the chart to see how the average cost looks for a 40 year male. An online quoting engine can seem convenient but it won t always take into consideration additional information like a pre existing condition hobbies work environment etc. Ten life insurance companies offered the 250 000 30 year term between 37 to 40 for a 40 year old male.
We don t need any personal information to run you a quote this way you can decide if you want to apply for coverage or not. As you get older the cost to insure yourself increases but if you select a 30 year level term you pay the average premium for those 30 years. For a 25 year old healthy male non smoker the premium for a 500 000 30 year term policy would be about 450 per year.
We calculated the average cost from the top ten life insurance companies for a 250 000 and a 500 000 policy.