What Are Life Insurance Fees?
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNLife insurance fees are essentially administrative fees charged by life insurance carriers to offset expenses. These fees cover their underwriting costs and actuarial costs of issuing the coverage. They are usually charged in the premiums and average between $1.00 to $7.00 per month depending on the company. This is a very common practice among insurance companies.Answered on March 30, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! Insurance policies all carry some amount of fee built into the cost of your premium. Some of those fees are applied to pay the agent for the commission they are paid, some are for administrative costs, and some are to help ensure that the company makes it's profit. Riders, or extra perks added to your policy will inevitably increase the cost of those fees, so be aware. I hope that helps, thanks for asking!Answered on July 3, 2014flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
