How much does life insurance cost per month?

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Life insurance costs vary based on a series of personal factors.

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Everyone eventually passes away, but if you have life insurance, your passing might be somewhat easier for your family to handle from a financial perspective.

If you pass away at a relatively young age, for example, your spouse, kids or other loved ones might struggle without the help of your income to pay the bills. But a life insurance payout can help fill that gap.

If you’re in the market for life insurance then start by getting a free price estimate so you know exactly what to expect.

How much does life insurance cost per month?

Depending on factors such as your age, gender, smoking history and more, life insurance monthly costs can vary significantly. Life insurance costs also vary quite a bit based on the type of policy you’re looking for.

Life insurance premiums for whole life insurance policies, for example, which can provide lifelong coverage, tend to cost significantly more than term life insurance policies that have expiration dates. 

If you outlive a term policy, you generally wouldn’t collect anything, though there are some exceptions like if you developed a critical illness during the term and had a critical illness rider for the policy. With whole life insurance and other types of permanent life insurance policies, you pay more each month but can also get benefits like building up a cash value for your policy.

Because whole life insurance policy decisions can be tied to investment considerations (i.e., you might be more comfortable building up assets via a whole life insurance policy vs. investing on your own), here we’ll take a closer look at term life insurance policy costs to give you a better sense of what the core life insurance benefit

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