A healthy 40 year old man, on average, might pay as little as $16 to $19 per month for a 20-year term, $250,000 life insurance policy. A 40 year old woman will pay a little less, at around $15-$17 monthly.
Get your rates on a $250,000 policy here.
Your average costs for a $250K life insurance policy will vary depending on your age and health status, but, they can still be affordable.
A $250,000 life insurance policy may be enough for most people, but, depending on your situation, you may need a higher amount. Either way, $250K is still a lot of money that will go a long way helping with expenses.
The $250,000 benefit amount will most likely be enough to pay for your funeral expenses, pay some of the mortgage, and pay some outstanding debts.
Financial planners recommend that you get five to ten times your yearly salary in life insurance coverage. For example, if you earn $45,000 per year, you should get a term or whole life insurance policy in the amount of $225,000 to $450,000.
"Don't leave your family in a bad situation, get plenty of life insurance!"
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Example Premiums For Men | Example Premiums For Women
| AGE | $250,000 |
| 30 Years Old | $14.23 |
| 35 Years Old | $16.90 |
| 40 Years Old | $18.30 |
| 45 Years Old | $33.75 |
| 50 Years Old | $42.60 |
| 55 Years Old | $72.10 |
| 60 Years Old | $113.10 |
10/24/2024 - These average monthly costs are just estimates. Your quoted prices will be different.
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| AGE | $250,000 |
| 30 Year Old | $12.15 |
| 35 Years Old | $14.50 |
| 40 Year Old | $17.10 |
| 45 Years Old | $28.90 |
| 50 Year Old | $32.11 |
| 55 Years Old | $63.10 |
| 60 Year Old | $99.15 |
10/24/2024 - These average monthly premiums are just estimates. Your quoted prices will be different.
The $250,000 premiums shown above are for non-smoking males and females in good health.
Having certain medical conditions like heart disease, kidney disease, being obese, diabetes, sleep apnea, plus many more, can raise your life insurance rates a lot. You may even be denied coverage.
Taking some kinds of medications can also affect your costs. For example, diabetes medication, high blood pressure medication, cholesterol medication, etc.
The insurance company will determine your premiums according to a blood test and medical exam.
You could try qualifying for a lower amount, like $100,000, but if you are still denied life insurance coverage, you can try getting a guaranteed issue or no medical exam life insurance policy. These policies will cost more than a typical term or whole policy, but they are guaranteed.
The caveat is, you won't be able to get a high coverage amount - these types of policies usually max out at $50,000.