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How Much Does $1.5 million ($1,500,000) of Life Insurance Cost?

by Scott G on January 4, 2013

How much does $1.5 million ($1,500,000) of life insurance cost?

How much does $1.5 million ($1,500,000) of life insurance cost?

I was working with a client recently who needed life insurance to protect his family.  After we went over some basic health questions, we did an in-depth needs analysis and determined he should have $1.5 million–$1,500,000 of life insurance in place to protect his family. He was 45 years old, married with two children, and had a good job and a mortgage.  He wanted to a policy that wasn’t going to be a strain on his monthly expenses. So after we instantly shopped the top companies in the country, we found a company that liked and offered him a price that was well within his budget.  We then did the application right there over the phone and set up a date for the nurse to come out for the quick physical.  He got approved a few weeks later and is now very happy.  And since he gave payment information at the time of his exam, he was protected during the underwriting process which was huge relief for him.

So how much does $1,500,000 of life insurance does cost?   You may be surprised how affordable life insurance rates are right now if you choose the right company and agent.

Sample rates I can offer as of 1/4/2013:

$1.5 million term life insurance policy on a 10 year term for a 40 year old male at the preferred plus rate class costs = $46.98 a month! with an A+ rated company.

$1.5 million term life insurance policy on a 15 year term for a 40 year old male at the preferred plus rate class costs = $60.03 a month! with an A+ rated company.

$1.5 million term life insurance policy on a 20 year term for a 40 year old male at the preferred plus rate class costs = $90.05 a month! with an A+ rated company.

$1.5 million term life insurance policy on a 30 year term for a 40 year old male at the preferred plus rate class costs = $161.82 a month! with an A+ rated company.

Wrap up

If you are looking for a high quality life insurance policy at an affordable price you came to the right place.  Just input your information in the quoting engine and you can instantly see the rates from the top “A” rated or better life companies and choose the one you like.  It’s that simple!

Don’t overpay or choose a questionable life insurance company.

Use this quoting engine to compare the nation’s top companies.

*Rates as of 1/4/2013 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.

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