Kansas Life Insurance

Last Updated on September 17, 2020 by Andrew Lee

Buying too much or too little life insurance can cost you and your household a lot more than necessary. To avoid this, you should first establish an amount that you can afford for your premiums, and you can do this by having an idea of how premiums look for someone of your age, health status, gender, and lifestyle. Review the table below depicting the estimated premiums of Topeka, Kansas consumers who want a policy with a $200,000 value policy and lasting for 30 years.

Estimated Monthly Premiums
Topeka, KS 66606
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

 

The number one factor that determines life insurance premiums is age. And those who buy young can save hundreds, even thousands of dollars in the long run. As shown above, purchasing a policy as a non-smoker while you’re still in your 30s can mean a monthly premium of less than $20, regardless of gender.

Opting for a bigger policy value but a shorter term

Say you decide to get a 20-year policy with a $500,000 value. This is how much you’ll potentially pay every month:

Estimated Monthly Premiums
Topeka, KS 66606
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

 

This kind of policy is a good option for established adults who have children currently in or will go to college soon.

You’ll also notice that women, even in the older group, still pay a lot less than men of the same age. The numbers above also show just how smoking can dramatically raise premiums, no matter their age or gender. As long as you maintain optimal health and avoid smoking, you can prevent exorbitant premium increases, even at an older age.

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More life insurance help

Both tables indicate that age and smoking habits are the leading determiners of life insurance premiums. The key takeaway here is that, when you buy a policy at a younger age and you don’t smoke, you’ll enjoy far better premiums. And before you sign any insurance contract, make sure that the provider has the proper licensure, which you can verify with the Kansas Insurance Department.