There are a few factors that go into how much life insurance costs. First is your age, as you get older life insurance gets more expensive. The reason for this is simple if unpleasant to think about, the older you get the more likely you are to die. Second you have the amount of insurance you would like paid out if you were to die. Depending on the company you can get a policy ranging from $5,000-$1,000,000+. It really depends on what your individual needs are. As with most things the higher the benefit the more it costs. You also have optional riders or add -ons that you can have on the policy. Some examples would be a accelerated benefit for terminal illness or a waiver of premium if you were to become disabled.
The most important thing when looking for life insurance is to review your needs and purchase what is appropriate for your budget and goals. Make sure any agent or company you are looking to buy life insurance from takes into account your individual situation and customized a policy that is the best fit for you.
The price of whole life insurance is dependent on gender, age and health condition of the insured. The premium is paid for the life of the insured or the maturity date of the policy. The vast majority of whole life is participating or generates an annual dividend. A dividend is a return of unused premium and interest credited to the policy. If the policy owner elects to use the dividend to pay premiums along the way, the overall price for the coverage is reduced. If the economic exposure is perpetual, a permanent policy is necessary, but not necessarily participating whole life insurance. Guaranteed universal life may be a better economic alternative.
To determine how much whole life costs versus guaranteed universal life insurance simply email me your gender, age, smoking status and general health to obtain a estimation on the price tag.
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The most important thing when looking for life insurance is to review your needs and purchase what is appropriate for your budget and goals. Make sure any agent or company you are looking to buy life insurance from takes into account your individual situation and customized a policy that is the best fit for you.
To determine how much whole life costs versus guaranteed universal life insurance simply email me your gender, age, smoking status and general health to obtain a estimation on the price tag.