The price of a life insurance policy depends on the type and amount of life insurance coverage you purchase.
In addition, your personal risk factors will impact the rate you pay per $1,000 of life insurance coverage.
Risk factors may include your age, gender, health, family health history, lifestyle, tobacco use, hobbies, occupation,, driving record, height-to-weight ratio, etc.
Basically, the longer your life expectancy, the lower your rate for life insurance. In addition, the younger you are when buying your life insurance, the lower your premium.
Term life and permanent life are the two basic types of life insurance
Term life costs a lot less than permanent life insurance because it is temporary, for up to 30 years; whereas, permanent life insurance provides guaranteed lifetime coverage and builds up some cash vale inside your policy over time.
Term life offers coverage for a "term" of 10, 15, 20 or 30 years. The shorter the "term" of your policy, the lower the cost of your life insurance.
Learn more about finding the cheapest life insurance coverage.