Life insurance companies use age as an important factor for your premium. Rates increase as you age due to a decrease in your life expectancy. The increase in monthly premiums as you age is much smaller if you are young, compared to when you are older. For example, the average life insurance quote only increases by 6% between ages 25 and 30, but it...

This is because men tend to have shorter life expectancies compared to women. Life insurers take this into account and charge men more expensive rates than a woman who is the same age.

The dollar amount that would be paid to your beneficiaries when you die, which is called the life insurance policy's face value, is essential to your financial planning. For this reason, you should carefully evaluate and determine the correct face value depending on your assets and future expenses. By choosing an accurate face value for your life i...