How Much Does $250,000 Life Insurance Cost?

Jeff Root Jeff Root Posted in Rates
Last updated on May 1, 2019

If you’re wondering “How much does $250,000 life insurance cost?“, you’ve come to the right place.

This article will go over how much you can expect to pay for $250000 life insurance, the best companies for this benefit amount, and how to qualify for those rates.

Feel free to compare life insurance quotes online using the free quote tool located at the side of this page.

Some life insurance shoppers may be looking for greater amounts of coverage. 

However, a $250,000 life insurance policy is very common and a very important purchase.

Why?

The death benefit is to protect your beneficiary from financial hardship.

How Much Does $250,000 Life Insurance Cost?

family needs $250,000 in life insuranceWhat if your annual salary is approximately $50,000 per year and you pass away?

If you have children around the age of 13, a $250,000 life insurance policy will cover the amount of income you’d be making until they reached the age of 18.

What if you have younger children?

$250,000 is still an excellent choice.

If your annual salary is around $30,000 a year and you have young ones, your life insurance benefit could protect them for the remainder of their childhood.

What Will I Pay for a $250,000 Life Insurance Policy?

Let’s dive right in.

We’re going to run some $250,000 term life insurance rates that most people will qualify for.

Just know that what you will ultimately pay for your policy…

…will be based on a variety of factors such as Gender, Age, Tobacco Use, Overall Health, and more.

Below are quotes based on “Preferred Best” non tobacco rates. Preferred rates are based on excellent health. If you aren’t in excellent health, you can expect to pay more based on the qualifying criteria of the life insurance company you apply with.

$250,000 Life Insurance Rates for Men

$250,00010 Year Term15 Year Term20 Year Term30 Year Term
Age 20$9.62$10.51$12.97$18.49
Age 30$9.62$10.51$13.22$20.39
Age 40$11.71$12.97$17.91$30.40
Age 50$23.80$32.85$41.94$72.41

$250,000 Life Insurance Rates for Women

$250,00010 Year Term15 Year Term20 Year Term30 Year Term
Age 20$8.79$9.89$11.78$15.48
Age 30$8.79$10.10$11.95$17.43
Age 40$10.87$12.56$15.44$25.36
Age 50$20.46$24.06$31.65$54.47

These are the best rates available for $250,000 term life insurance. All of these quotes were based on a fully underwritten policy with a medical exam.

If you’re looking for life insurance without a medical exam?

Also, if you’re looking to secure a $250,000 Whole Life policy, please call us at 888-411-1329. We will run illustrations for you.

Qualifying for $250,000 Life Insurance

Did you know that you need to qualify financially for life insurance?

That’s right.

Your health isn’t the only thing that life insurance companies look into before they offer you a policy.

Financial Qualifications

The life insurance company needs to know that you can afford the policy and pay the annual or monthly premiums.

For a $250,000 term life insurance policy, you will probably have to meet the following guidelines:

  • Are you between the ages of 18 – 40? You’ll need an annual income of $10,000. That amount is 25 times your annual income.
  • Are you between the ages of 41-50? You’ll need an annual income of $16,666. That amount is 20 times your annual income.
  • Are you between the ages of 51-55? You’ll need an annual income of $50,000 or more. That is 15 times your annual income.

This gives you a quick idea of the general finances you’ll be required to show before a $250,000 policy is available to you.

The great news is that these amounts are excessive.

Health Qualifications

Your overall health is usually the most confusing part of qualifying for life insurance. The reason is that each life insurance company looks at your health differently.

Some companies are more strict with certain health conditions while others are not.

However, all life insurance companies will want to know details of your past and current health. In addition, they’ll want to know:

  • Do you use tobacco?
  • Have you been to the hospital recently?
  • Do you see any specialists?
  • Do you have any health conditions that can be considered risky?
  • Do you use medications?
  • Does your family have a history of heart disease, cancer, diabetes, or stroke?

The Best Life Insurance Companies for $250,000 Policies

These life insurance policies are very common which means there is stiff competition from the life insurance companies.

This competition has a direct effect on rates – which is great for the life insurance shopper.

Here are the best life insurance companies for $250000 life insurance:

Banner Life

The Banner Life Insurance Company offers excellent rates.

Even though they aren’t a household name, they have received an “A+” rating from A.M. Best. Banner has a great reputation as a top life insurance company who provides low premium life insurance and excellent coverage.

SBLI

With an “A+” rating from A.M. Best, SBLI is another top life insurance company for $250,000 life insurance policies. Their term life insurance premiums are guaranteed for the duration of the term. They also have a renewable option on an annual basis.

Protective Life

Protective Life is the 3rd “A+” A.M. Best rated company on our list. Compared with most life insurance companies, Protective offers very low rates for a $250,000 life policy.

American General

Our fourth life insurance company, American General, received an “A” A.M. Best rating. This isn’t as high as the previous life insurance companies, but it is still a great rating. American General provides shoppers very low life insurance rates with excellent coverage.

Shop with an Independent Life Insurance Agent

Using an independent agent can mean the difference of up to 73% off your life insurance premium.

Independent agents like us have access to multiple life insurance companies, so we aren’t committed to any particular carrier.

We’re impartial and will shop from dozens of best rated life insurance carriers. If you have any health conditions, it’s even more important you work with an experienced independent agent.

You will be provided all of the best options that you can qualify for and simply choose the one that best meets your needs.

Call us at 888-411-1329 if you’d like a customized quote or would like to speak with us directly.

2 Comments
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Roxann Rusch

What if you are age 74?

December 8, 2017 at 3:59 am
    Jeff Root
    Jeff Root

    You can purchase life insurance at age 74. Fill out the form on this page to view rates on the next screen.

    February 13, 2018 at 1:47 pm
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