Your rate is based on the type of term life insurance policy, and the "Term", or duration of coverage - how long your policy will last.
Term life options for duration of coverage are usually 10, 15, 20, 25 or 30 years.
In addition, your Risk Factors impact your rate for coverage.
Risk factors assist the insurer in determining your longevity, how long you are expected to live.
Risk factors usually include your age, gender, health, family health history, lifestyle, driving record, tobacco use, occupation, hobbies, drug and alcohol use, etc.
The insurer analyzes these factors and develops a rate per $1,000 of term life insurance you are charged for your insurance policy.
The younger and healthier you are when you purchase life insurance, the lower your rate per $1,000 of coverage.
Heres' how to shop and compare term insurance rates online now.