New Hampshire Life Insurance

Last Updated on September 17, 2020 by Andrew Lee

As you shop around for a life insurance policy, don’t forget that your main concern is to get one that best suits your entire family’s needs. And while the most important factor to consider is the sufficiency of the payout your loved ones will receive, you also have to take into careful consideration the affordability of the premiums associated with the cover.

One way to determine whether a policy comes with good rates is to compare it with the average of what people in New Hampshire, Concord pay. To give you an idea of how much life insurance costs in the state capital, take a look at these tables.

Estimated Monthly Premiums
Concord, NH 03301
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

 

Many of the city’s residents favor the $200,000 policy value. This, combined with a 30-year term may only cost you less than $20 every month, regardless of age, and given that you are in relatively good health and you don’t smoke. Include smoking in the equation though, and you’ll end up spending more than double.

More coverage for a shorter term

The length of time you want your policy in place also influences how much your insurance company will charge you. Say you want a policy with a $500,000 worth but will only last for 2 years. You can expect it to look like or close to any of these:

Estimated Monthly Premiums
Concord, NH 03301
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

 

Most people who purchase this kind of policy are often those already in their 40s or 50s. In most cases, they opt for greater coverage because they have children in college or kids about to attend one. Just remember that, even though you’d only have to keep paying for your insurance for 20 years, you’d still pay more because of the bigger death benefit.

Find the Best Life Insurance

Compare Term & Whole Life Insurance Options:

More life insurance help

Before you settle for a $200,000, $500,000, or any other policy value, keep in mind that there are many different factors that you should consider before you purchase a policy. Knowing these will help you make certain you buy just the right amount of coverage.

Once you’re ready to buy, contact the New Hampshire Insurance Department to verify that your choice in an insurance company has the proper licensure to sell products in the state.