Policygenius, a life insurance web broker, uses its term life pricing information to provide monthly term life price index reports.
The company bases the index on prices for coverage with a 20-year-level premium term.
The lowest price shown is for coverage for a 25-year-old female nonsmoker who wants $250,000 in death benefits; The highest price is for a 55-year-old male smoker who wants $1 million in death benefits.
Policygenius figures suggest rising premiums may not be causing life application friction.
This month, the lowest price in the tables fell slightly, to $14.21, from $14.25 last month.
Author(s): Allison Bell
Publication Date: 10 May 2022
Publication Site: Think Advisor