The cost of life insurance depends on many factors, including your age, gender, tobacco usage, health conditions, occupation, hobbies and other factors.
The only way to know how much you’ll pay is to get a quote from an insurer. However, the sample average rates below may provide an idea of how much you could pay based on the type of policy.
Term
The following average sample rates are for a 20-year, $1 million term policy. Term life insurance lasts for a set period. If you outlive the term, the policy will end, and your beneficiaries will not receive a death benefit.
Universal
These average sample rates are for a $1 million universal policy for a nonsmoker in average health.
Whole
The sample rates below are for a $1 million whole life policy for a nonsmoker in average health.
Typically, whole life insurance is more expensive than term coverage because it lasts until the insured dies. Additionally, the policy accrues a cash value that you can access via loans or withdrawals during your lifetime.
