Missouri Life Insurance

Last Updated on September 17, 2020 by Andrew Lee

As important as life insurance is, you still have to make sure you can afford the monthly premiums it’s associated with. Remember: this is a long-term contract, so knowing how much you can expect to spend towards it will go a long way to ensuring you remain insured. One of the most effective budgeting strategies is to have some idea of what your premiums may look like. The tables below will help you come up with a price range most appropriate for your finances.

Estimated Monthly Premiums
Jefferson City, MO 65043
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 a month, younger non-smoking men and women in relatively good health and living in Jefferson City, Missouri can already become insured. However, once you add smoking to the equation, you can expect your premiums to go up drastically.

As the tables show, the younger, non-smoking male group pays less than $40 a month on average than their peers who smoke. For the younger female group, the difference is a little more than $30.

Getting a Higher Policy Value for a Shortened Term

If you want to purchase a policy with much greater value at $500,000, but would only want to keep it for 20 years, your insurer may charge you with any of the following:

Estimated Monthly Premiums
Jefferson City, MO 65043
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

 

As one of the most sought-after life insurance term levels in the country, the 20-year term is ideal for people in their 40s or 50s, as they already have established finances. They still want to provide for their family even after they’re gone, but they also know their family won’t have trouble supporting themselves.

Find the Best Life Insurance

Compare Term & Whole Life Insurance Options:

More life insurance help

The projections given above are for term life insurance, which doesn’t come with a cash value component. In case you want your policy to have this benefit, consider getting whole life coverage instead. And make sure you also contact the Missouri Department of Insurance to verify the licensure of the insurance company you wish to get into a long-term contract with.