To calculate your life Insurance cost or premium, you take the death benefit amount per $1,000 of coverage, multiplied by your monthly rate for life insurance.
Several risk factors affect your rate per $1,000 of life insurance, including your age, health, gender, family health history, occupation, hobbies, driving record, height-to-weight ratio, tobacco use, lifestyle, and credit history, among other things.
The amount of your life insurance policy also impacts your cost of life insurance, as well as, how long your term insurance policy will last.
Most term life insurance plans provide coverage for a period of 10, 15, 20, 25 or 30 years.
The longer the policy duration (term) of your life insurance policy, the higher your cost of coverage.
You can compare free, instant life insurance premium quotes online from a life insurance quote provider.
You just visit a life insurance website, fill out a quote request form by answering some basic questions, and instantly you will receive the lowest premium quotes from a network of leading life insurance carriers.
Learn more about how to calculate the cost of life insurance.