What Is A Policy Fee On Life Insurance?
- 185 POINTSview profileRichard EddyFinancial Advisor, Cona Financial Group, La Verne, CAA policy fee is just an administrative charge that is part of most life insurance policies. It usually ranges from around $40 per year to $100 per year, per policy. Keep in mind that it's not a separate fee, as it is incorporated into your normal payments, so you won't see it broken out as a separate line item on your bills.Answered on June 13, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNA policy fee is the life insurance companies way of covering their administration expenses and the cost of underwriting the policy at the point of purchase. Their fees can be as low as $1.00 to $9.00 per month included in your monthly premiums. A client may notice them more on a cheaper plan than a more expensive plan. For example, someone can purchase a policy with a $100,000 face amount for just a couple of more dollars than a $50,000 face amount policy because the fee is included in the baseline premium.Answered on September 19, 2014flag this answer
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