life insurance on<span> which the face value slowly decreases in scheduled steps from the date the </span>policy<span> comes into force to the date the </span>policy<span> expires, </span>
The age you are when you purchase life insurance is the biggest factor in how much you will have to pay. The premium amount typically increases about 8% to 10% for every year of age. The older you are, the more expensive you are to insure. When you are in your 40s, your rates increase from 5%-8% and when you are over 50, your rates increase by 9%-12% each year.
