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November 12, 2020 at 08:45 AM
Typical U.S. life insurance prices for healthy applicants might have stayed about the same between October and November, in spite of the effects of the COVID-19 pandemic.
Policygenius, a New York-based web broker, has published data supporting that possibility in a new monthly life insurance price report.
Resources
- A link to the Policygenius Life Insurance Price Index page is available here.
- An earlier article about Policygenius price index data is available here.
The company began publishing the monthly reports earlier this year. The new report is the third in the series.
The report provides average monthly premium data, from 11 carriers that sell individual life coverage through Policygenius, for 20-year term coverage for applicants ages 25, 35, 45 and 55, broken down by sex, with $250,000, $500,000 and $1 million coverage amounts.
There are separate tables for smokers and nonsmokers. Policygenius assumes that applicants qualify for preferred health pricing.
The lowest price in the new tables, for a 25-year-old female nonsmoker, with $250,000 in coverage, is $14.22. That equals the lowest price in the tables published in October.
