Is Life Insurance Expensive? 
Life insurance is generally very inexpensive for the amount of coverage you get . E.g. For $ 50/month some people can get a policy with rates locked in for 20 years , that would pay their loved ones $ 500,000 if they died . The amazing thing is , this policy could pay out $ 500,000 for one $ 50 payment , if death occurred one month after taking out the policy . Where else can you find a return like that ! On the other hand , for some people , life insurance is expensive , although generally less expensive than health , long term care , or disability insurance . For someone who is up there in years or has serious health problems , the premium is higher because their chance of passing away is higher . However , they again get the advantage of the policy paying out the full benefit if they would pass away shortly after the policy is purchased -LRB- in a graded policy , two or three years after the policy is purchased -RRB- . That type of feature is impossible to find anywhere else . 