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, gender, health, family health history, lifestyle, tobacco use, driving record, occupation, hobbies, height-to-weight ratio, etc.

Also, the results of your medical exam will factor into the price you pay for your life insurance.

Basically, the longer you are expected to live, the lower your premium, compared to people with a shorter life expectancy.

Here's how you can request and compare term life insurance rate quotes.