According to the American Council of Life Insurers (A Trade Association that advocates on behalf of Member Organizations), the average size of a new individual life insurance policy purchased in 2020 was $183,780.

However, the amount of life insurance that is right for you will depend on your situation and what goals you want your life insurance plan to accomplish.

You'll want to take into consideration your annual income, assets, debts, expenses, and future financial goals, among other things,...

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It depends on the type of life insurance policy and the amount of insurance you buy.

In addition, your personal risk factors will impact the rate you are charged per $1,000 of life insurance.

Risk factors may include your age, gender, health, tobacco use, driving record, occupation, hobbies, lifestyle, and height-to-weight ratio, among other things.

However, the younger and healthier you are, the lower your cost for life insurance.

Learn more about the average cost of life insurance protection.

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The cost of an average life insurance policy relies on severe key factors that impact a life insurance policy premium.

Some of those factors affecting premiums include the type and amount of life insurance.

In addition, your own personal risk factors impact premiums for life insurance including your age, gender, health, lifestyle, occupation, hobbies, driving record, height-to-weight ratio, etc.

Basically, the longer you are expected to live, the lower your premiums. And, the higher the amount o...
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What are average premiums for life insurance?

There is no one average premium for a life insurance policy because pricing depends on the amount and type of life insurance you buy.

In addition, each person has their own personal risk factors that will impact their rate for a life insurance policy.

Personal risk factors may include your gender, age, health, lifestyle, occupation, hobbies, if you smoke, and your driving record, among other factors.

The younger and healthier you are when you buy life...
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According to the American Council of Life Insurers (ACLI), in 2008, the face amount of the average life insurance policy in the U.S. was $183,000.

In 2010, the face amount of the average life insurance policy was $165,000. So, over that two year period, the average amount of life insurance for a policy had decreased by $18,000 in life insurance coverage.

If a life insurance policy is Term insurance, there is no cash value worth to the policy itself, there is only life insura...

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