Term Life Insurance Cost Need to Knows

Term Life Insurance Costs

Your term life insurance cost depends on your age, your health and the size of the death benefit you want. No surprise that the younger and healthier you are, the lower your premium will be.

Just as a ballpark, a healthy 40-year-old man who buys a 20 year term life policy, which has a fixed annual premium, might pay $350 a year to secure a $500,000 death benefit. A healthy 50-year-old man who buys the same policy might pay $1,000 a year. If he waits until he's 60, the policy will cost about $3,000 a year.