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How Much Does Life Insurance Cost In The United States?

¿How much does life insurance cost in the United States?? The price of the life insurance in the United States they are usually higher than $ 147 per month for a 20-year term.

How do the costs of these coverage plans usually vary? Keep reading!

How does the cost of life insurance vary in the USA?

The 2 main factors that life insurance companies use to establish the monthly rate that the insured will have to pay are their age and health.

Are only these two variants what determines the price? Not much less! Other reasons why the fees to pay may vary are:

  • The activities usually carried out by the insured that represent a risk to the life of the insured.
  • The age of the insured himself.
  • The sex of the insured (Normally, males tend to pay a higher rate than females).
  • The type of lucrative activity of the client himself.
  • The amount of pounds or kilos that the insured himself may weigh.
  • The type of coverage plan.

Let’s see more in detail how much does life insurance cost in the USA based on each of these factors:

1. Average Annual Cost of Term Life Insurance by Age

First of all, it must be borne in mind that the older the insured’s age, the higher the monthly rate to pay.

The reason:

The older, the less life expectancy for the insured himself, which also means an increase in the rate as the insured himself ages. Let’s see what is life insurance worth based on age in the following table:

AgeAnnual cost for non-smokersAnnual cost for smokers
25$ 372$ 1,032
30$ 396$ 1,104
35$ 456$ 1,404
40$ 600$ 2,148
Four. Five$ 936$ 3,324
fifty$ 1,416$ 5,112
55$ 2,280$ 7,956
60$ 3,816$ 12,084
65$ 7,116$ 18,336

2. Average annual cost of term life insurance by gender

Women are regularly going to receive a lower rate than men when obtaining their policies.

The reason:

This is because it is estimated that women tend to have a longer life span than men. Let’s look at some figures that we have found in our research:

AgeAmount covered by the policyAnnual fee for menAnnual fee for women
30$ 250,000$ 252$ 212
30$ 500,000$ 396$ 336
30$ 1,000,000$ 696$ 588
40$ 250,000$ 360$ 300
40$ 500,000$ 600$ 492
40$ 1,000,000$ 1,116$ 912
fifty$ 250,000$ 804$ 624
fifty$ 500,000$ 1,416$ 1,104
fifty$ 1,000,000$ 2,716$ 2,076

3. Average Annual Cost of Term Life Insurance by Policy Size

The greater the amount of benefit that the coverage plan provides to your loved ones in the event of your death, the higher the monthly or annual rate to pay will also be.

Here we show you the life insurance prices in USA for people in good health, whose policy term is 20 years for men:

Annual feeAmount covered by the policy
$ 240$ 100,000
$ 432$ 250,000
$ 720$ 500,000
$ 1,344$ 1,000,000

4. Average Annual Cost of Term Life Insurance by Policy Duration

The rates of a life coverage plan tend to increase as the duration of the term of coverage increases.

In addition, you have to take into account the category of coverage plan that has been assigned to you at the time of purchasing the policy.

Let’s see more in detail in the following table:

FinishedCoverage amountStandardPreferencePreferential plus
10 years$ 100,000$ 264$ 228$ 192
10 years$ 250,000$ 444$ 336$ 276
10 years$ 500,000$ 732$ 528$ 420
10 years$ 1,000,000$ 1,320$ 912$ 708
20 years$ 100,000$ 276$ 228$ 204
20 years$ 250,000$ 456$ 360$ 300
20 years$ 500,000$ 780$ 588$ 480
20 years$ 1,000,000$ 1,404$ 1,032$ 828

✅How does life insurance work in the United States?

The life insurance in the United States They work on the basis of a contract between the insured and an insurance provider company, which will pay a premium to the beneficiaries based on the coverage plan that has been chosen in the event of the death of the insured.

✅Is it good to have life insurance?

Yes. It is good to have life insurances, since this way you can protect the financial future of your children or dependents in case you die.

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