$300,000 Term Life Insurance Policy
A $300,000 term life insurance policy lasts for a specific amount of time, a term. The term period for most companies range from 10, 15, 20, and 30 years. There is no penalty for cancelling the policy early. When the term does come to the end you have the option of just letting the policy expire or you can renew the policy annually. Most people will opt to purchase a new policy at this point if they still need insurance as it will typically be cheaper, unless one has developed a significant health condition.
Another feature most good term policies will have is what is called a conversion period. This allows the policy holder to convert the term policy into a permanent plan without evidence of insurability, which is a great option most people aren’t aware of.
How Much Does A $300,000 Term Life Policy Cost?
Below are some sample rates for a $300k term life insurance policy. The rates are based on a female in excellent health, preferred plus health class, non-smoker. Your rates could be different as they will be based on your age and health. Please feel free to use the instant quote engine on this page to see what rates you may qualify for.
30-years old $10 month for a 10-year term with SBLI.
30-years old $12 month for a 15-year term with SBLI.
30-years old $14 month for a 20-year term with Banner Life.
30-years old $18 month for a 30-year term with SBLI.
40-years old $13 month for a 10-year term with SBLI.
40-years old $15 month for a 15-year term with SBLI.
40-years old $19 month for a 20-year term with Banner.
40-years old $28 month for a 30-year term with SBLI.
50-years old $25 month for a 10-year term with SBLI.
50-years old $29 month for a 15-year term with SBLI.
50-years old $38 month for a 20-year term with SBLI.
50-years old $64 month for a 30-year term with Banner Life.
How Does Health Issues Affect My Rate?
Every life insurance company has their own underwriting guidelines. Whether you’re taking a cholesterol or blood pressure medication or had a parent pass away of heart disease or cancer, it’s important to work with an experienced agent who can place you with the right company.
How Do You Get The Best Rate For A $300,000 Term Life Policy?
The first thing you should do is shop around or to use a quote comparison service like this one. You can compare rates from the top rated companies, instantly. If you find a policy you like, simply hit the APP Request button to get setup with the policy or to learn more.
If you have prefer to speak to a license agent directly, simply call me at (888) 788-1052. I can help you review your options and provide you a free personalized need analysis to make sure you receive the best policy at the lowest price.
*Rates as of 3/03/2013. 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.