Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
When you compare the premium for a life insurance policy to the benefit paid to your beneficiary, life insurance is cheap! Unlike other forms of insurance life insurance covers an eventuality not a possible loss. The cheapest life insurance policy is the one that is in force on the day that you die. If you know when that might be, it makes it easier to determine which is the cheapest. I recommend that you sit down with an agent that you trust and determine how much life insurance you really need. Buy that with the longest possible term, some of it should probably be permanent insurance.
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As a life insurance broker with more than 33 years of experience, I'm glad you asked that question.
Life insurance is cheap...depending on the type of plan you are considering. Naturally, term insurance is the least expensive type of policy, especially the 5 and 10-year guaranteed plans.
Of course, any policy with cash value or dividends (not guaranteed) will cost more because of difference in equity.
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Life insurance is cheap...depending on the type of plan you are considering. Naturally, term insurance is the least expensive type of policy, especially the 5 and 10-year guaranteed plans.
Of course, any policy with cash value or dividends (not guaranteed) will cost more because of difference in equity.