Life Insurance cost depends on age, your health and the size of the death benefit you desire. I.e. a healthy 40-year-old man who buys a 20-year level term policy, which has a fixed annual premium, might pay $350 a year to secure a $500,000 death benefit. A healthy 50-year-old man who buys the same policy might pay $1,000 a year. If he waits until he’s 60, the policy will cost about $3,000 a year. If you are a smoker, your premiums double. I.e. if you are paying $150 per month for your insurance policy, this would automatically double up to $300 per month once you are a smoker.
