We used our Term Life Estimator to find the average rates for term life policies based on age. Your gender: Men have shorter life expectancy because they tend to take risks and take on more dangerous jobs, so their rates are higher in general, regardless of age.Whether you use tobacco: Rates are higher-sometimes double-for smokers.A few more things insurance companies look at to calculate a term life rate include: Of course, there are other factors as well. If you’re wondering why, it’s simply because your probability of dying goes up as you age. Like we said, age plays a huge role in pricing for term life policies. So why not find your age in our charts below to get an idea of your monthly cost? We’ve crunched the numbers for 2023, and it’s no surprise that term life coverage is, once again, an awesome deal. While it’s true you’ll pay less for term life insurance the younger you are, it’s also true that term life is an incredible value at any age. We’ve put together a chart of term life insurance rates by age so you can get an idea of how much it will cost you if you get it now versus later.Īnd here’s our recommendation for pretty much everybody: Get it now! It’s so affordable there’s no reason to put off getting coverage and having the peace of mind that goes with knowing your family’s taken care of. So it really does pay to get it now instead of later! In fact, age plays such a big role in setting your rate that estimating how much you’ll pay for coverage is pretty easy based on that alone. We’re all for that.Īnd get this: Term life insurance rates are mainly based on two factors-your health and your age. If you’re here, we’re guessing things are getting pretty serious-you might even be thinking about taking your relationship with term life insurance to the next level.
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