There are many smart tactics you can employ to find a life insurance policy best suited for your entire family’s needs. One of these is to have a general idea on how much this type of protection will cost you, after factoring in your age, gender, health condition, and lifestyle. Check out the tables below that show premium estimates for the residents of Charleston, West Virginia

Estimated Monthly Premiums
Charleston, WV 25301
Policy: $200K
Duration: 30 Years

Age & Gender Smokers  Non-Smokers
 30 Yr Old Male  $55.65 – $91.53 $19.17 – $45.45
45 Yr Old Male $167.65 – $230.87 $39.36 – $125.94
 30 Yr Old Female $40.42 – $72.88 $16.35 – $35.34
 45 Yr Old Female $117.34 – $176.49 $30.89 – $82.53

 

All insurance companies verified licensed by the West Virginia Offices of the Insurance Commissioner base the rates they charge primarily on age. However, they also take into consideration the applicant’s gender. As you can see, women spend less than men. This is because statistics show that the female gender has a longer life expectancy. In addition, women have also proven they take fewer risks than their male peers.

Decreasing the term but opting for a larger death benefit

The policy value and term you’ll purchase will also impact your premiums. So if you go for a larger payout, for instance $500,000, but choose a 20-year term, you can expect to pay more. Your monthly expenditures may look like any of these:

Estimated Monthly Premiums
Charleston, WV 25301
Policy: $500K
Duration: 20 Years

Age & Gender Smokers  Non-Smokers
 30 Yr Old Male  $72.62 – $133 $20.36 – $58.05
45 Yr Old Male $213.94 – $430.30 $50.06 – $138.95
 30 Yr Old Female $59.50 – $115.40 $17.93 – $44.90
 45 Yr Old Female $154.32 – $296 $39.48 – $116.10

 

Since insurance companies use age as the primary determiner of rates, applying for insurance as an “established adult” will mean higher costs. Just compare the monthly average rates of younger, non-smoking female group with those of women already in their 40s: the former pays $46 less. For non-smoking men, younger adults pay $56 less.

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Other than age, the kind of lifestyle you have will also determine your rates. If you got rid of your unhealthy habits, such as quitting your smoking habits or losing weight, you may qualify for better premiums. The same goes true for existing policy holders, so make sure you regularly review your policy.