What Should I Be Paying For Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    What you should be paying for life insurance is dependent on many variables. Some of those factors are your age, health, gender, tobacco use, and the type and amount of life insurance you want. To find the most competitive life insurance prices, you can go to a website that offers quotes from many different companies. Keep in mind that you may not qualify for those rates, and be open to reviewing all your health details with an agent so you can get the lowest priced policy to fit your unique variables.
    Answered on October 8, 2013
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    What you should pay is determined by how long you want coverage and how long you want to spread the payments.  A single pay whole life policy provides the most coverage for the longest time for the least premium.  Limited pay policies provide the most coverage for a little longer time and a little more premium, and so it goes until you get to term policies.  With a term policy you pay for limited coverage and if you don’t die during term period the company doesn’t pay anything.
    Answered on May 30, 2014
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