Term Insurance Yearly Premium

What is term life insurance yearly premium?

It's the amount of money you pay each year in return for your term life insurance coverage from the insurance company.

Yearly premium is determined by multiplying the rate of your life insurance policy per one thousand dollars of life insurance coverage.

So, if your rate is $3, and you buy $100,000 of life insurance, the annual premium would be $3 X $100 = $300.

Your rate per $1,000 of life insurance is based on several risk factors which are taken into consideration to determine your life expectancy - how long you are expected to live. This risk factors may include your gender, age, health, lifestyle, occupation, hobbies, driving record, tobacco use, etc.

In addition, the type and duration of your life insurance policy is a factor in developing your rate for life insurance coverage.

Learn more about term insurance yearly premiums and how you can compare free life insurance quotes online.