How much does a 250000 term life policy cost?

Answer 1

The cost of any life insurance policy will depend on your age and health.

Life insurance - ANY insurance, actually - is a bet. You're betting that you will die, and the insurance company is betting that you won't. The insurance company wants to make sure that the odds on the bet are favorable to the insurance company. So you are young and healthy and you bet that you're going to die, the insurance company bets that you'll live, and they're laying odds of 500 to one that they're right. You put down a premium of $500, and the company pays $250,000 if you die.

If you're old, or already sick, or a daredevil, then the insurance company won't give you high odds of survival; they may offer lower 100-to-one odds, in which case your premium would be $2,500 per year.

At some point, your odds of survival for another year as you get older get to be pretty low - and you won't be able to buy insurance at ANY price.