Life Insurance - how much is it, really?

Question

I'm trying to get a ballpark idea of how much $500,000 of permanent life insurance might be for a 40-year old female smoker with CAD. Obviously, it's going to vary a lot, but I'm trying to figure out if it's in the range of trivial ($50-100 per month), a serious expense ($300 per month) or completely obscene ($1000 per month). I don't want to bother going and giving out all my personal medical information and shopping around if it's going to end up being something I'd never be able to afford - particularly since it seems like insurance, like credit, seems to become less available or more expensive each time you make an inquiry.

Answer 1

It'll be hard to get in your case.  Guaranteed issue programs aren't available at $500k to my knowledge, so you will have to get a fully underwritten policy.  You are young to have CAD and you have an aggravating lifestyle factor too (smoking - cigarettes??).  You need to work with someone who has experience working with underwriting issues.  I recommend myself or LifeInsuranceAgent in my contacts.  

Most companies would decline to offer you coverage based on the facts you just told us.  Placing your specific risk with the right company would be critical to getting any offer (because you use nicotine).  Expect who ever you work with to ask some intelligent questions before they could even ballpark.

Inquiries should ding you.  The right company should understand you are shopping around because of the nature of your risk.  I have seen a decline with one company turn into a standard offer with another for a 50 yo male with an MI 13 years prior.

Answer 2

life insurance is very important bezome of that we will assured some amount we will give by the insurance compnay after our death so that our family members doesnot want to suffer after our death. Atleast after our death the family members can lead the life wihtout depending on others.

Answer 3

It's going to depend on a lot, lot more, like basically all your personal medical information.  

You're better off giving it to an agent and getting a real quote, than posting it here on the internet for the world to see, and having people make wild guesses.  

For a range, I'd "guess" between $100 and $1000 a month.  See?  That does you no good.

Answer 4

You won't really know until you apply and complete the medical exam/underwriting process.  All up-front quote are "preliminary" and likely to be inaccurate.