Life how much is life insurance per month is one of the most significant financial purchases you can make, and it’s important to get a feel for how much coverage you need, how much the policy will cost on average, and what factors can impact your specific premium. Fortunately, there are plenty of resources available to help you assess your needs and find the right plan for you and your family.

The average life insurance cost per month will depend on what type of policy you choose, your age, and your lifestyle. In general, life insurance policies are more affordable when you’re younger and in better health. Life insurance companies determine how much you’ll pay by analyzing your risk based on current health and your family’s medical history. These factors are compared with historical data from people of your age and gender who have died, also known as actuarial tables.

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Other factors may affect your premium, including whether you choose a term or whole life policy and how long you want your death benefit to last. For example, a $250,000 death benefit today won’t go as far in ten or thirty years due to inflation.

Using a life insurance calculator or talking with a licensed agent are great ways to figure out how much you might pay for a specific coverage amount and length. If you’re ready to take the next step, a Policygenius expert can connect you with an experienced financial professional who can listen to your needs and offer suggestions on how to meet them within your budget.