The average cost of life insurance per month can vary depending on several factors, including the individual's age, health, gender, and the type and amount of coverage they choose. However, to give you a general idea, here are some average monthly premiums based on age and coverage amount:
1. Term Life Insurance:
- For a 30-year-old non-smoker, the average monthly premium for a 20-year term policy with a $250,000 death benefit is around $15 to $20.
- For a 45-year-old non-smoker, the average monthly premium for a 20-year term policy with a $500,000 death benefit is around $40 to $50.
2. Whole Life Insurance:
- For a 35-year-old non-smoker, the average monthly premium for a $100,000 whole life policy is around $150 to $200.
- For a 55-year-old non-smoker, the average monthly premium for a $250,000 whole life policy is around $400 to $500.
Please note that these are just average estimates and the actual cost of life insurance can vary based on individual circumstances and the insurance provider. It's always a good idea to get quotes from multiple insurance companies to compare prices and coverage options.