How Much Does $2,000,000 (Two Million) Dollars Of Life Insurance Cost?
It might be difficult to know how much one should pay for life insurance coverage. Nonetheless it is something that you need, because you never know when you will pass away. The sooner you get life insurance the better it will be for you and your family. Protect them from the pain of leaving them with nothing.
When you calculate the amount of life insurance you need you should think about immediate and short term needs as well as long term needs. What would fall into the current term needs would be funeral costs. So would mortgage payments and child care. Example of future expenses would be college. You can use the life insurance calculator to help you determine exactly how much life insurance you need to protect your family.
If money is one of the reasons you hesitate about life insurance, don’t worry, you can find a policy that will fit your budget. So go out there and do something that will not only benefit you, but your family. Don’t leave them with any burdens.
Example costs For $2,000,000 (two million) dollars of life insurance:
$2,000,000 10 year level term policy for a 40 year old male at the preferred plus rate class = $60.90 month.
$2,000,000 15 year level term policy for a 40 year old male at the preferred plus rate class = $78.30 month.
$2,000,000 20 year level term policy for a 40 year old male at the preferred plus rate class = $118.32 month.
$2,000,000 30 year level term policy for a 40 year old male at the preferred plus rate class = $214.02 month.
To see how much your rates would be:
*Rates as of 12/19/2012 at the preferred rating class. The information in this post is for informational purposes only and is not a guarantee of rates and insurability. Rates and eligibly are subject to the underwriting guidelines of the insurance companies and state in which you live.