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The average cost of a Whole Life insurance policy largely depends on the age of the applicant, his/her health conditions, the face amount, and the carrier that is providing coverage.
While it is easy to provide an average number ($500-$900), it would be a bit misleading. There are simply too many variables to accurately provide specifics.
Typically, among term, UL, VL and Whole Life plans, Whole Life will be the most expensive.
Prices can certainly vary, including the dividend scale (if a participating policy) and guaranteed cash values.
Let an experienced broker shop different companies for you so you find the most suitable policy.
All premium quotes are dependent on the final underwriting outcome based on health, gender and age of the proposed insured. Here’s an example, more of a rule thumb.
Participating Whole Life Insurance purchased as a base policy with no riders is generally 20% over its guaranteed universal life (GUL) counterpart. A 30 year old male nonsmoking with super preferred health covering $100,000 of GUL is averages around $550 annually with the top 25 the leading life insurance companies. The average participating whole life policy should come in around $675 annually. Always check the rate quoted by any online life insurance service to confirm the cost before moving forward.
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While it is easy to provide an average number ($500-$900), it would be a bit misleading. There are simply too many variables to accurately provide specifics.
Typically, among term, UL, VL and Whole Life plans, Whole Life will be the most expensive.
Prices can certainly vary, including the dividend scale (if a participating policy) and guaranteed cash values.
Let an experienced broker shop different companies for you so you find the most suitable policy.
Participating Whole Life Insurance purchased as a base policy with no riders is generally 20% over its guaranteed universal life (GUL) counterpart. A 30 year old male nonsmoking with super preferred health covering $100,000 of GUL is averages around $550 annually with the top 25 the leading life insurance companies. The average participating whole life policy should come in around $675 annually. Always check the rate quoted by any online life insurance service to confirm the cost before moving forward.