First, your rate is based on the type of term life insurance plan and how many years of coverage you have, as well as, the amount of life insurance.
Most term life policies are level term where the rate and amount of life insurance stay level throughout the term (duration) of your policy. Term life plans usually offer coverage for a period of 10, 15, 20 or 30 years.
In addition, your own personal risk factors affect your rate for term life.
Risk factors may include your age, gender, health, family health history, occupation, hobbies, if you smoke or not, driving record, height-to-weight ratio, etc. Each of these factors may impact your longevity - how long you are expected to live.
The longer your life expectancy, the lower your rate for term life insurance.
Here's how you can compare instant term life insurance rates from over 70 leading life insurance carriers for savings up to 70%.