subject: Life Insurance Rates: Searching For The Best One [print this page] Brokers can make things really stressful by telling us what they think we should do.
Life insurance premiums can depend on a lot of things. The list could be endless, but issues like your health and your financial position play a part. Moreover, what if you changed your mind a bit and looked at life insurance as an investment?
You got it right - life insurance is an investment. Do not be fooled by some of the schemes, plans, and policies some brokers would have you buy. They will convince you that variable life insurance is the best long term solution or that whole or universal is your best option.
The reality is any form of variable life insurance is a horrible, terrible plan except for one person: the one who sold it to you.
Here are some reasons why: Primarily, permanent life insurance is... permanent. Variable life is long term and permanent, which makes the rates high from the start. So, for a $750,000 variable insurance policy, you might spend $650 a month.
With that kind of cost, you are getting the short end of the stick. Truthfully, the only type of life insurance that really makes sense is term life insurance. You can get the best of all worlds - choose the length of the term and keep the cost low!
You are able to pick a term from a one year term to a thirty year term. The goal is to have a policy that will end and coincide with your kids becoming independent and your house paid off.
With term life insurance, you can get that same $750,000 plan for only $50 or $75 a month, depending on your circumstances. That saves you $600 a month and about $7200 a year!
Are you starting to understand the aspect of life insurance as an investment? A third party's opinion is a good thing to have, but make sure you financial professional is not out to get rich off of you.
At www.infoprimes.com a term life insurance rate is easy to get and expert financial consultation is awaiting you.
by: Irene N. Borne
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