Renwanz Insurance & Financial Solutions, Carlsbad, CA
There are several different types of life insurance available. Term Insurance, Universal Life, Indexed Universal Life and Whole Life are the main types.
Term life insurance will be the least expensive but it also offers the least flexibility in many ways. Term is just that - a definitive length of time. If you buy 10 year term and you die 10 years and one week later, it pays your beneficiaries nothing.
Universal Life can last your entire lifetime with little or no cash build-up inside the policy.
Indexed Universal Life and Whole Life can have significant cash build-up inside the policy which can be accessed through policy loans. This can be part of your strategy on paying for college, buying something major in your life or supplementing your retirement income.
The cost of life insurance is determined by the amount of coverage desired, age, gender, medical history and the results of a paramedical exam. There is no cost to you for applying or for the paramedical exam - the insurance company covers those costs for you. By way of example, a non-smoking 25 year old female in excellent health, rated Preferred Best can get $250,000 of 20 year term for about $135 per year.
I recommend you contact a knowledgeable, independent life insurance agent who can explain the different types of life insurance in more detail and help determine which is most appropriate for your needs. An independent agent will be able to let you pick from dozens of insurance companies available.
That question never has a simple answer. There are just too many factors to consider in order to correctly price a life insurance policy. The main factors are type of life insurance, term length, face amount, age, build, lifestyle, health status, income, residence, occupation and net worth just to name a few. I recommend using an independent life insurance broker to help you find the best policy and price for your unique situation.
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Term life insurance will be the least expensive but it also offers the least flexibility in many ways. Term is just that - a definitive length of time. If you buy 10 year term and you die 10 years and one week later, it pays your beneficiaries nothing.
Universal Life can last your entire lifetime with little or no cash build-up inside the policy.
Indexed Universal Life and Whole Life can have significant cash build-up inside the policy which can be accessed through policy loans. This can be part of your strategy on paying for college, buying something major in your life or supplementing your retirement income.
The cost of life insurance is determined by the amount of coverage desired, age, gender, medical history and the results of a paramedical exam. There is no cost to you for applying or for the paramedical exam - the insurance company covers those costs for you. By way of example, a non-smoking 25 year old female in excellent health, rated Preferred Best can get $250,000 of 20 year term for about $135 per year.
I recommend you contact a knowledgeable, independent life insurance agent who can explain the different types of life insurance in more detail and help determine which is most appropriate for your needs. An independent agent will be able to let you pick from dozens of insurance companies available.