Info. & Prices on Life Insurance
A few of you e-mailed me on Life Insurance -
I just want to post something to help anyone who needs it -
Most people buy term insurance b/c is it less expensive than universal life. It's also a good idea to take out term insurance when you buy a home - to cover the morgage for both you and your husband.
Term Insurance - the premium is guaranteed for what ever term you purchase - 10-year - 20-year and now NY even sells 30-year. There is no cash value in term insurance however, it's a great way to cover your needs inexpensively.
Universal Life - known as UL policies -
the best way to explain this is term insurance with a cash savings account. However, always remember the premium and cash value are not guaranteed. (Whole Life premiums are) I'm not going to go into whole life...
UL policies are for life as long as you pay the premiums - if you can afford a UL policy they can be great policies.
Most people start out buying term - I'm 31 and I just purchased my 1st UL policy for a small amount. My husband and I both have a 30-year term policy to cover the morgage -
EXAMPLE OF PRICE (this is based preferred plus rating with a A++ company
Female age 25 20-year Term $500,000 benefit
Guaranteed annual premium $245.00
Female age 30 20-year term $500,000 benefit
Guaranteed annual premium $245.00
Male age 25 20-year term $500,000 benefit
Guaranteed annual premium $280.00
Male age 30 20-year term $500,000 benefit
Guaranteed annual premium $285.00
UL policy
Female $250,000 benefit
annual premium $698
Male $250,000 benefit
annual premium $794
Please feel free to ask me any questions you might have -
I hope this helps!!!![]()
I just want to post something to help anyone who needs it -
Most people buy term insurance b/c is it less expensive than universal life. It's also a good idea to take out term insurance when you buy a home - to cover the morgage for both you and your husband.
Term Insurance - the premium is guaranteed for what ever term you purchase - 10-year - 20-year and now NY even sells 30-year. There is no cash value in term insurance however, it's a great way to cover your needs inexpensively.
Universal Life - known as UL policies -
the best way to explain this is term insurance with a cash savings account. However, always remember the premium and cash value are not guaranteed. (Whole Life premiums are) I'm not going to go into whole life...
UL policies are for life as long as you pay the premiums - if you can afford a UL policy they can be great policies.
Most people start out buying term - I'm 31 and I just purchased my 1st UL policy for a small amount. My husband and I both have a 30-year term policy to cover the morgage -
EXAMPLE OF PRICE (this is based preferred plus rating with a A++ company
Female age 25 20-year Term $500,000 benefit
Guaranteed annual premium $245.00
Female age 30 20-year term $500,000 benefit
Guaranteed annual premium $245.00
Male age 25 20-year term $500,000 benefit
Guaranteed annual premium $280.00
Male age 30 20-year term $500,000 benefit
Guaranteed annual premium $285.00
UL policy
Female $250,000 benefit
annual premium $698
Male $250,000 benefit
annual premium $794
Please feel free to ask me any questions you might have -
I hope this helps!!!
