The premium charged for a term life insurance policy varies by individual applying for the coverage.
There are several key factors that go into determine your price for life insurance; such as, those factors that determine your rate per $1,000 of life insurance coverage.
Some of the more common rate factors include your age, gender, health, lifestyle, tobacco use, occupation, hobbies, driving record. etc.
These are taken into consideration to develop the rate, which is multiplied by the amount of life insurance you need. The rate per $1,000 is used to develop the premium.
In addition, the type of life insurance and the duration of coverage impact the pricing.
You can determine your own average price for life insurance by requesting a free life insurance quote online. Just visit a life insurance website, fill out a short quote request form, and click on a button to instantly see the lowest prices available for life insurance from several leading insurance carriers.
You can add up all of the premiums and divide that number by the number of quotes to find your average price for your term life insurance policy.