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Compare Life Insurance Rates

Although you probably know you need life insurance, you might be worried about how much it will cost. Many people assume they can’t afford life insurance coverage because they are on a tight budget, but this doesn’t have to be the case. Plenty of cheap life insurance options are out there that will provide ample coverage; you just have to understand a little more about how life insurance works and how to find the lowest priced deals.

What Affects Life Insurance Rates?

Life insurance providers use various rate charts and formulas to determine each individual’s insurance premiums. Here are some of the more common ones:

  • Age – Your age is going to be a factor in your premium costs with just about any policy option. Seniors usually do pay more for life insurance. So if you can buy it while you’re still young, it’s a good idea to do so.
  • Tobacco Use – If you are a tobacco user, you probably already know about the health risks that can go along with smoking. If you’re a non-smoker, you can expect to pay lower premiums than someone who does use tobacco.
  • Personal Health History – If you are in good health, it’s a good idea to opt for a company that requires a health exam and asks health questions. Then you can qualify for a lower rate. For those who have health issues, other companies offer policies with no medical exam required, but they are more expensive.
  • Family Health History – Some providers have a longer application process and will inquire about your family’s health. The answers to these questions can affect your monthly payment.
  • Location – Your location can affect your coverage, since the more reasonably priced providers might not offer coverage in all states.
  • Occupation – If you are in a high-risk field, you may have to pay more for coverage.
  • Type of Insurance – The type of insurance you choose can and will affect your costs. Term life insurance is the lowest-priced, but whole and universal policies do have their advantages as well.
  • Term Length – If you opt for term coverage, choosing a 10 year, 20 year or 30 year term will affect your premium.


Best Affordable Life Insurance Companies

Our online search tool can help you find the cheapest options from some of the top providers in the business, such as:

  • Banner Life
  • Prudential
  • Metlife
  • Globe
  • AARP


How to Get the Lowest Rate on Life Insurance

If you want to get the lowest rates, try these tips:

  • Consider a term policy, since your quotes will be lower.
  • Consider a lower level of coverage.
  • Use our instant quote finder to compare prices between different providers.

As you can see, life insurance that will cover your mortgage, funeral and other final expenses doesn’t have to be overpriced. If you use our simple online quote tool today, you can find out more about reasonably priced options and can even begin the application process today.