Georgia Life Insurance

Last Updated on September 17, 2020 by Andrew Lee

Find the Best Life Insurance

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Buying a life insurance policy is one of the long-term investments you’ll make. Since you’d make payments towards it for as long as you want to remain insured, it makes complete sense to know how much you’re looking at in terms of overall expenditures. This is why you should have some idea on what premiums look like in your location.

To help you get started, take a closer look at the table below showing the estimated premiums of Atlanta, Georgia residents for a 30-year, $200,000-value policy.

Estimated Monthly Premiums
Atlanta, GA 30305
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

 

This table shows just how low the premiums of non-smoking individuals are, regardless of gender. As you can see, women falling under the younger category who don’t smoke spend the least possible towards their insurance, at less than $17 a month. Non-smoking males of the same age can also obtain insurance for possibly less than $20 a month.

The key takeaway here is that, since smoking greatly reduces life expectancy, it follows that people who have this habit pay a lot more for their life coverage. And smoking is just one part of the equation. Insurance companies also charge higher rates for the use of other tobacco-containing products.

Greater Insurance Coverage for a Shorter Term

Now, say you want to go for greater coverage, at $500,000. However, you just want to keep your insurance for a period of 20 years. In this case, you can expect your premiums to look similar or close to these:

Estimated Monthly Premiums
Atlanta, GA 30305
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

 

The numbers tell you that younger men and women can still purchase a policy with affordable monthly premiums, given that they don’t smoke. Those under the category of non-smoking individuals age 45 can expect a monthly rate averaging somewhere around $94.50 for men and $77.79 for women. And while there is a considerable difference between what they would’ve paid for in their 20s or 30s, these averages are still far cheaper than those for the smoking groups.

More Life Insurance Help

Aside from maintaining a healthy lifestyle, your choice in an insurer also determines your premiums. For help in choosing a company, check this guide: Choosing Life Insurance: The 6 Must-Consider Factors.

And lastly, don’t forget to seek out the help of the Georgia Office of Insurance for insurance provider licensure and other related concerns.