Why consider life insurance? As someone who’s spent nearly two decades navigating the numbers, I see life insurance as a practical tool for protecting what matters most. For a healthy 30-year-old non-smoker, a 20-year term policy with $500,000 in coverage typically costs $25–$40 per month. But costs are shaped by more than age—health, coverage amount, and policy type all play a part. Age, especially, has a big impact: a 40-year-old will often pay about twice as much as a 30-year-old, and smokers might pay two to three times more.
Term policies keep things straightforward and affordable. Permanent policies, on the other hand, offer lifelong coverage and build cash value, but come with higher costs due to commissions and early surrender charges. The most cost-effective approach? Maximize your term coverage when your financial responsibilities—like supporting children or managing debts—are highest, and scale back as those needs change. I always recommend reviewing your coverage every five years.
Life insurance isn’t an investment; it’s a way to transfer risk and gain peace of mind. Your premiums buy security for your loved ones, while also funding future claims and maintaining the stability of the insurance company. My goal is to help you find solutions that fit your life, so you can move forward with confidence.
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