Boise Life Insurance - $1million Death Benefit - 40 Yr Old Male

How Much Does $1million Dollars Of Term Life Insurance Cost? 

Hi, Boise.

It's Chris with the Life and Health Insurance Agency here in Boise, I hope everyone is doing well!

Hey, I get asked a lot.

How much does a $1,000,000 in life insurance costs?

So what we're gonna do today, is do a quick quote on a $1,000,000 for a male age 40 nonsmoker.

A $1,000,000 in death benefit coverage is not as much as what people think these days and what it used to be anymore.

You see we typically recommend 10 times your annual income.

So there's a lot of professionals here in Boise that are making, you know, $75k $80k $100,000 a year and with families or if they own business purposes as well. Maybe to secure an SBA loan that happens a lot here at our agency. 

It happens in divorce settlement agreements where they have life insurance either on each other or the spouse, or the husband needs to carry life insurance, you know, in case anything happens to him, especially if they have kids.

So we will come to the website here. You can always go over here. There's always gonna be big, called the action buttons to either call us or get quotes and under product she and go doing two life insurance tab there.

We do offer health insurance as well. I don't do much of the health insurance anymore, but my great agents do. So please let us know if you need help. Their group health. You only need two people for, ah, small group to get one started.

And that's where I would probably recommend a lot of people to go to. We work with a lot of self-employed business owners, folks.

So click on the life insurance quotes is gonna take you to our online quote system here. This is very easy, very quick to use, and you'll have quotes in a matter of minutes.

So I was to be safe. Do the third heart. That's overall, general. Pretty good health. If you start going for five, you know it's a little bit tougher.

The fifth Heart. Rarely does anyone ever get that rating overall good health? Just to be safe, you can always if you apply for a rate class and you come in better they give it to you.

They don't They're not being sneaky. They want the business.

And so these underwriters, they do want to know. They do want to ensure you it's their job.

And if you're a good risk and if you're good health, they're gonna give you a better rate class because they know that that business sticks around a little bit better.

Nicotine or cannabis? Yes, pot is considered smoking rates. So in they test tobacco is a big deal. It, uh, increases your rates. It's almost double sometimes.

So you need to think about what you're doing with your smoking or tobacco usage for cannabis.

And But, you know, listen, if that's what you do and that's part of your life, well, then that's what you do. And then let's see here.

So we're gonna do a 40-year-old male today. Pretend I was born in 1980 and here's our $1,000,000. So here's what happens on our unlike quote engine term is highlighted.

You click on permanent, and it will show you what a $1,000,000 permanent policy will look like, which is kind of nice.

Some people of 40 years old uh, you were at that age where if you're if you've got good income coming in, we could put something together toe where it could still make sense to do what they call it.

Alert the life insurance retirement plan, where you're just gonna help supplement your retirement with life insurance.

Because you can pull, the money's out, tax-free, they grow tax-deferred, you can pull, the money's out tax-free.

And some of these policies have living benefits, which are very uh, very desirable. We'll talk about that some other time.

Okay, so, and then if you want to come back to term, you just go regular turn that we do offer to return a premium.

It's, uh it's much more costly. So today we're just gonna go 40 years old.

Okay, one million overall. Good health. And let's take a look at these companies here. So you select on that there. Click next.

Now we do ask you or your email. We don't bother you here. If you don't want to talk to us. That's fine.

So All right, so we're looking at a $1,000,000 for 40-year-old male.

Pretty decent health banners coming in at number one. It about $90 a month.

But what I always do is come down here and take a look at these other companies.

How To Apply For Life Insurance Online

Now, the term life companies these days are very, very competitive with each other.

So take a look here.

I honestly like for $90 a month, I would probably look at Principal Life here, maybe John Hancock for a couple of extra dollars.

And now what?

That means no exam based upon the way you answer health questions on the application and through the phone interview, it's possible that you would not have to do blood and urine.

Okay, that just it just speeds up the whole process.

If we can affect yet no exam one that but for me, I would probably go principle of John Hancock and, you know, or you go Bay says.

Right here.

Banner is an exam is required.

The nice thing is, is, if you like that quote, you could just supply right online.

This process will walk you through the information that we need to start the application.

I'll get notified, and if there's anything that we're missing, I'll just ache before it, and we'll help you along the process.

So, folks, a 40-year-old now a $1,000,000 is about $90 a month for a 20-year term.

We'll talk soon.

Reach out to us if you have any questions, Thank you.

Why Term Life Insurance Is A good Choice

Term life insurance is also a good option if you're raising a family. It can help pay for college expenses and daycare costs. You may want to consider a plan for your children. Your insurance policy can help pay for these expenses if you die. Moreover, term life insurance can protect a growing family from future financial insecurity. You'll be able to use it to pay for college. You can also use it to cover the cost of special needs for your child. Our office is here to help you make the best choices for all your insurance needs. We offer health, Medigap, Medicare Advantage and long term care plans.

When you have decided to purchase a term life insurance policy, you should consider how much you can realistically afford. The amount of money you need to pay off debts and expenses is often a factor in determining whether or not you'll need a death benefit. This means that you shouldn't purchase a higher amount than you need for your budget. If you are worried about a potential illness, you should consider an insurance policy with a higher death benefit.

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