What determines the cost of a term life insurance policy?

The premium charged for term life insurance will depend on the amount of your life insurance coverage, and the length of time for your term.

The longer your term (duration of coverage), the higher your premium. And, the higher the amount of life insurance coverage, the more you pay for your term life policy.

In addition, your personal risk factors will impact the price you pay for your life insurance. These risk factors include your age, ...
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Term insurance is short term life insurance protection for a specific period of time - usually lasting for a "term" of 10, 15, 20 or 30 years.

With term insurance, your premium remains the same each year for the duration of your term, so if you have a 10 year term life plan, you pay the same premium for 10 years.

The price you pay for your term insurance will vary by length of term, so a 10 year term policy will have lower annual premiums than a 20 year term policy, because your chances of surv...
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The amount you pay for your term life insurance policy will depend on the insurance carrier, and your own personal risk factors.

Each life insurance company has their own set of pricing guidelines and approach to underwriting risks for life insurance.

In addition, your personal risk factors affect the rate you pay for life insurance.

Risk factors may include your age and health, family health history, your occupation and hobbies, lifestyle, if you smoke or not, your height-to-weight ratio, drivi...
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