What Is The Lowest Life Insurance Payout?

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Term life insurance is usually the cheapest life insurance option. It provides a guaranteed death benefit while your policy is in force but does not build cash value. To get the lowest possible life insurance quotes, you must take the right steps when shopping and applying for the policy. Here are some tips:

Company Policy Rate (male/female) Rating
American General Select-a-Term $345.65/$295.45 A (Excellent)
Equitable Term Series 160 $350/$320 A (Excellent)
Lincoln Financial TermAccel $341.65/$288.70 A+ (Superior)
Pacific Life PL Promise Term $341.74/$289.98 A+ (Superior)
Penn Mutual Guaranteed Convertible Term $342.20/$291.60 A+ (Superior)
Protective Classic Choice $341.75/$288.75 A+ (Superior)
Sagicor Sage Term $370.52/$276.56 A- (Excellent)
Symetra SwiftTerm $339.99/$288.79 A (Excellent)

The rates stated above are for a 20-year term, $500,000 life insurance policy for individuals in excellent health and of average height and weight. Your personal information will determine how much your life insurance payouts and costs will be. Your age, health, and coverage amount are some of the factors that influence your life insurance rates.

The term life insurance policy payout is rewarding, while being the cheapest life insurance option. The younger and healthier you are, the less you will pay for coverage. It’s best to buy the right policy length to start with, so you won’t end up with higher renewal rates or shopping for another policy. To get the lowest possible life insurance quotes, you must shop around for the same term length and coverage amount and avoid riders that you don’t necessarily need.

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