It's the price you pay per $1,000 of life insurance coverage.
How is your rate determined?
Your rate for life insurance is based on several factors that assist the insurance company in determining the risk you present for life insurance.
Some of the factors used for developing your rate include your age, gender, health, tobacco use, occupation, hobbies, driving record, lifestyle, etc.
The younger and healthier you are the lower your rate per $1,000 of life insurance.
The type of life insurance plan and the duration of your coverage will also affect your rate for life insurance coverage.
You can compare rates on life insurance by visiting a life insurance website and filling out a quote request form.
This allows you to instantly compare the lowest pricing on life insurance from several of the leading life insurance companies.