The amount of coverage you need will contribute to the cost, as well as the benefits offered with the policy. There are many different types of life insurance and can include: term life insurance, whole life insurance, and universal/variable life insurance. It's important to choose a plan that best suits your needs and budget.
There are many factors that will determine your premium. Age, gender, health, family medical history and lifestyle can all play a role in the cost of your premiums. Your insurance company uses this information to calculate the likelihood that you may become ill or die within a certain amount of time, thereby increasing the risk they assume when accepting business from you.
For example, if you are in good health and are young (and thus statistically more likely to live longer), you will not be charged as much for your premiums. Alternatively, if you have a history of illnesses or know that you may die sooner than the average person- it is likely that your rates will increase accordingly.