Iowa Life Insurance

Last Updated on September 17, 2020 by Andrew Lee

Find the Best Life Insurance

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It’s important you obtain prior knowledge of what you can expect to pay towards your life insurance policy before you actually sign this long-term contract. Doing so will let you set realistic expectations as well as properly allocate your finances once you start making monthly payments towards your coverage.

To get started, check out the table below-containing premiums projections for a $200,000 value policy with a 30-year term sold in Des Moines, Iowa.

Estimated Monthly Premiums
Des Moines, IA 50309
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

 

For less than $20, healthy, non-smoking men in their 30s can already become insured. And women can find a policy that costs even cheaper. Putting off your purchase at a later date, say when you’re already in your 40s, will double, triple, or even quadruple your premiums.

You’ll also notice that women spend a lot less than their male peers. A primary reason for this is because, statistically, they have a longer life expectancy.  

Opting for a greater policy value with a shorter term

Just in case you want to have a policy with greater value at $500,000, but would only like it to last for 20 years, here’s what your premiums may look like:

Estimated Monthly Premiums
Des Moines, IA 50309
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

 

One of the most popular life insurance term levels in the country is the 20-year term. Established adults (those in their 40s and 50s) usually prefer this, since many of them already have a clearer picture of their insurance needs, and they know just how long they want to remain covered. A key takeaway here is that buying early and keeping your health in optimal condition will help you secure better rates.

More life insurance help

Now that you have a clearer picture of your potential life insurance expenditures, you should proceed to educate yourself about tactics that will help you reduce them. And as a final reminder, make sure you also check with the Iowa Insurance Division for inquiries about the licensure of the insurance companies you want to work with.