Learn all you need to know about life insurance costs, the amount of coverage you need, and your next steps.
You probably know that life insurance can provide important protections for you and your loved ones. But, how much do you know about how life insurance works?
First, there are various health and life factors that can affect whether you can get life insurance and how much you might pay in premiums. Some of these factors are your age, gender, health status, and the kind of work and hobbies you’re involved in.
One important aspect of life insurance is cost. Though Americans know that life insurance can be valuable, more than 50% reported in a recent study that they didn’t have any life insurance because of other living expenses. At the same time, they overestimated the actual cost of life insurance by three times. The monthly cost of a life insurance policy may surprise you—take a look at the numbers we found.
Another key element of life insurance is the amount and type of coverage you choose. How does your life insurance coverage compare to what other Americans have? Take a look, then assess how much coverage you really need. Consider the income of the primary breadwinner of your family, the number of people who need to be supported, and the various expenses and assets at stake.
Clearly, a life insurance purchase should be carefully considered and planned. At eHealth, we can help you take next steps as soon as you’re ready.