Here are some of the factors that will help you determine the average cost of life insurance:
If you’re wondering about the average cost of life insurance, you need to know that the price is going to depend on a number of factors – the type of insurance you’re buying and how old you are when you’re buying.
What Determines Life Insurance Cost?
The older you are when you buy life insurance, the higher the risk. Insurance companies, quite simply, make their money by determining when you’re most likely to die. If you’re young, you might get a policy for as little as $10 per month. If you’re older, cost of life insurance could go up to $80 per month or even more. There are different types of policies that will cost more or less, depending on varying factors.