Average 1 million dollar term life insurance premium?

Question

Average 1 million dollar term life insurance premium?

Answer 1

That premium is unheard of only if your talking about the policy amount thats covered. Premium=payment. If you're talking about the policy amount that could feasible only on if your debt, income, mortgage, and education for the kids are covered in the million.

Some people get over insured and some people are under insured. To get properly covered use the D.I.M.E. theory.

DEBT.INCOME.MORTGAGE.EDUCATION

amount of debt you have.

amount of income you would have 5-10 years combined

how much you have left on your mortgage

and average education in most colleges cost between $10-$20k per child

tally that up you'd have the proper face amount coverage for your love ones in the event of an untimely passing.

ya dig?

Answer 2

Each year Insure.com does a survey of the lowest term life rates. According to the survey, a 30-year-old man or woman can get a 10-year term life policy with a death benefit of $1 million for $230 a year. Rates go up with age and the length of the policy’s term. A 30-year-old man will pay a minimum of $420 a year for a 20-year term policy worth $1 million and $710 a year for a 30-year term policy with the same death benefit. A woman would pay slightly less at age 30: $370 a year for $1 million, 20-year term policy and $565 a year for a 30-year policy. To qualify for the lowest rates, you have to be in perfect health with no dangerous hobbies or travel schedules.

Answer 3

depends on whose covered, their health, what they do for a living, family history--there are a ton of questions that have to be answered to be able to tell you that

Answer 4

It really depends on the individuals age and health factors.  There are many on line term life insurance quote engines.  Check them out and you will be able to see what it would cost you.

Answer 5

Are you 22 or 62?  Are you in perfect health with no family history issues, or are you sick as a dog?  It usually only matters what the policy would cost to the individual in question, not the average cost for an entire population.  Even insurance companies are only concerned with the average cost per risk classification.  They could care less what the average cost is overall.  They don't make money by being general about their risk, not anymore anyway.