Find the Best Life Insurance

Compare Term & Whole Life Insurance Options:

Smart and well-developed financial plans typically include life insurance. Having this in your arsenal can prove extremely beneficial, especially for your family. With this, you can keep providing for your loved ones even after you’re gone, and even giving you peace of mind knowing you won’t leave them with heavy financial burdens.

Like with all other types of investments though, you should first make certain you can afford this type of long-term, legally-binding protection. Thus, knowing more about the various factors that influence your rates can help you make the necessary changes to make things easier on your wallet.

To give you some idea on the typical cost of life insurance in Cheyenne, Wyoming, check out the tables below.

Estimated Monthly Premiums
Cheyenne, WY 82001
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

 

You’ll immediately notice that the premiums of those under the smoker category are way higher than the rates of those who don’t. Regardless of your age or gender, you can expect all insurance companies to charge you with higher rates if you qualify as a smoker.

Remove smoking from the equation though, and you can get insured for just $20 a month if you’re in your 20s or 30s. Established adults who don’t smoke will pay more, but compared with their peers who do, their monthly rates are still far lower, averaging at just $83 for men and $57 for women.

Shorter term but larger payout

For a 20-year term and a payout of $500,000, you can expect your policy to come with any of the following premiums:

Estimated Monthly Premiums
Cheyenne, WY 82001
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

 

A look at both tables will already tell you that one of the strategies to secure better rates is to buy young. In many cases though, those who purchase coverage with these features often fall under the established adults category, especially those who have several children in college (or will attend one in the near future).

More life insurance help

Whatever your choice in a term and policy value, keep in mind that smoking will drastically pull your rates up. Besides, you want to keep enjoying life, so refrain from developing such unhealthy habits. And as a final reminder, make sure you contact the Wyoming Insurance Department to verify the licensure status of the companies you’re interested in purchasing a policy from.