How much does life insurance cost?
At Traetupoliza, we are aware that the economic issue is essential: if the price does not convince you, you will not take out a life policy. Therefore, in order to explain all these issues, we are going to tell you everything you need to know to answer the big question: how much does life insurance cost ? Thus, it will be easier to understand why its price can vary so much and that is because the sector of this protection is very broad. Each insurance company can apply different conditions despite using the same factors to make the calculation! Therefore, before deciding, you should compare the offers on the insurance market… Next, we will teach you how to understand how much life insurance costs to choose the best option for you !
Concept: learn what the price of a life policy is
Before understanding your price, this is the first question we have to answer: what is this amount? Well, to begin with, what we have to know is that there are two basic factors that influence the price of your life policy : on the one hand, the death capital and the age of the insured. In addition, beyond these considerations, others such as your profession and/or your state of health will be taken into account. However, from there, the insurance companies are the ones that, based on their policies, decide which rates to apply to each insured and his situation. As such, they have the final say in determining the price you are going to pay to cover yourself.
In this way, we must know what is this list of principles that companies observe and, thus, calculate your price. Attention, below, we specify those factors to observe! How Much Is Life Insurance per Month? Everything You Need to Know about LI
How much does life insurance cost: factors to calculate your price |
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| Your age : since life insurance is a product that depends on the possible risk of death, the older you are, the higher the average price you will pay for your life insurance. | |
| The profession you have : it serves to consider 100% the risk that your protection supposes to the insurance company. A firefighter is not the same as a person who takes care of children. | |
| Depending on your state of health : in the case of life insurance, it is logical to think that the healthier you are and the better your state of health, the lower the price you will have to pay, since the lower the risk that the entity assumes with your protection contract. In order not to be mistaken, the insurance company will present you with an application that you must fill out. | |
| Capital factor : if the amount of money insured is high, or very high, the price of the policy will be proportional to said capital. Thus, it is essential to know how much you should insure. | |
| Based on the coverage included : this factor is also understandable and it is that a life insurance that only covers death cannot cost the same as another that, additionally, also takes care of it in case of disability. Therefore, with better coverage, the higher the annuity to pay for the protection that you decide to contract. | |
| According to seniority in the company : for this case, the same percentage will not be applied if a life insurance policy is contracted for the first time, with 50 years as if you already have your own protection with the same company since you turned 30 because the entity knows you and knows how they can condition all the previous factors in this list. |
The big question: how much does life insurance cost per year?
After attending to the factors that imply a higher or lower price, next, we are going to give you the formula to calculate how much life insurance is worth. This calculation will be made by multiplying the amount you want to insure by the rate that measures the probability of death, which is basically determined by age. Thus, the formula to apply will be…
Probability of death (according to age) x Capital = Price
In this way, therefore, to know how much life insurance is worth, it is important to know what capital you need , that is, what is recommended for you and your needs. As such, you will need to establish how much you expect your beneficiary to receive in the event of an unforeseen event with your coverage. To do this, you must take into account many elements: the home and family situation, outstanding debts, standard of living and how to maintain it… For all of this, we have prepared a tool to recommend the capital for your life policy . Seize it!
Need help? These are the prices with Traetupóliza!
At Traetupóliza, we understand the value of leaving your family covered in the event of an unforeseen event … And that inspires us to agree on the best prices with insurers so that you can offer useful financial help to your loved ones! Therefore, below, we present the unique offers that you will only find if you contract with us … Check these annual prices and for what ages!
| For an age of… | annual price | Characteristics of the life policy |
| 25 years | €60.75 | Covering the death and for a capital of €200,000 |
| 30 years | €66.85 | To cover additional illnesses and with a capital of €80,000 |
| 36 years | €62.21 | With death cover and insuring €170,000 of capital |
| €76.37 | In the event of suffering from absolute and permanent disability, insuring €100,000 of capital | |
| 41 years | €124.21 | For a policy with protection against absolute and permanent disability, with €120,000 of capital |
| 45 years | €153.09 | Covering a capital of €100,000, with additional capital in case of an accident |
| 50 years | €309.24 | To cover absolute and permanent disability, insuring €100,000 of capital |
| 55 years | €425.73 | Faced with absolute and permanent disability, with €100,000 of insured capital |
| 60 years | €294.66 | By covering a capital of €50,000 |
| 68 years | €216.56 | Insuring an amount of €30,000 |
What are the prices of life insurance in the sector?
Having seen what has been seen, after presenting you with the prices that we have agreed with the insurance companies, we want to show you what the broad reality of the sector is . Thus, we have already made it clear that what you will pay for your life insurance will not only change due to the factors indicated, but will end up depending on the rates and specifications of each company or bank . In this way, you will find huge differences in the price of life insurance offered by companies. For this reason, our best advice is to compare the offers in the sector, especially if you already have life insurance… You will end up being surprised with the differences that exist between policies! Attentive!
If you want to know how much your life insurance can cost you with the best companies…, you can do it with us! Take advantage of our comparison system! In addition, so that you can see the differences, here is an example with real calculations of the price of life insurance for a person with an updated health status at their age, with a 0-risk profession and with an insured capital of €50,000. . Pay attention and consult our advisors if you have questions: