Term life insurance provides protection for your family while they are still depending on your income. It saves them from financial troubles in case of your untimely death. This type of insurance is a much cheaper option than other insurance policies such as whole life insurance. The coverage expires based on your chosen term which can be 10, 20 or 30 years.
Life insurance rates differ depending on your chosen plan and age. If you are looking for the best rates for a $500,000 life insurance policy, please read on.
How Much Is a $500,000 Life Insurance Policy?
The amount of money you would need to pay for a policy that would provide $500, 000 worth of coverage depends on who the policy is for. Insurance providers price their policies on a case-by-case basis, often based on your health and age. For instance, a 50-year old would need to pay $900 annually for a $500,000 coverage compared to the $1441 that a 55-year old would pay every year. Also, they may consider factors such as lifestyle since they will determine the policy price based on your level of risk. If you are a 40-year old woman who is a smoker and lives in a high-risk location, then you should expect to pay more for your premiums.
Getting $500,000 Life Insurance Quotes
To know how much it would cost you to get $500,000 term life insurance coverage, fill out the form you can find on our site. In just seconds, you can compare rates for this policy from top life insurance companies in the United States. Make sure you get more than just one quote to find the best rates that work for your specific situation. There are a lot of insurance companies out there offering competitive rates so don’t limit yourself to just a few quotes.
Moreover, getting quotes doesn’t make you qualified. You still need to qualify for your rate class which will require you to undergo underwriting with a medical examination. However, a lot of companies also offer a $500,000 death benefit without requiring a medical exam. So make sure you check into whether you can qualify for your preferred coverage before you apply.
Now is the time to buy life insurance coverage you need. Make time to fill out our form for instant life insurance quotes to find the insurance company and the policy that suits your needs.