The Cost Of Waiting
Age is the single most important factor in determining premiums for life insurance.
Let’s consider the standard monthly premiums below:
Term 20, male non-smoker $500,000 – Manulife as of May 2019
Age 30 : $34 per month
Age 40 : $50 per month
Age 50 : $134 per month
Age 60 : $433 per month
Whole life 20 pay, female non-smoker $250,000 – Equitable Life as of May 2019
Age 30 : $188 per month
Age 40 : $328 per month
Age 50 : $561 per month
Age 60 : $960 per month