1. 110 POINTS
    Bryan McCloskey, CASL®
    Old Security Trust, West Chester, PA
    The simple answer to this question is: It Depends.  :)

    It depends on a variety of factors, including:
        How much death benefit you would like.
        Your health status.
        Your age.
        The company you would buy it from.
        The features you would elect inside the policy.

    There are several types of Life Insurance coverage for a person to choose from, each with its own features and own purpose.  In general, for a stated amount of death benefit coverage, monthly or annual premiums for a Whole Life policy are higher than a Term Life policy, but it would be faulty to compare those types of policies just based on monthly premium.  

    Don't make the mistake of comparing those types of policies just based on monthly premium.  Speak with a knowledgeable professional about your goals and how life insurance may fit in so that you can make the best decision for your situation.
    Answered on May 18, 2013
  2. David RacichPRO
    Fountain Hills, Arizona
    With any life insurance policy, the costs will vary from company to company by the type of life insurance policy, duration of coverage, what state it is issued in and personal information about the insured like gender, age, smoking status, health condition, recreational activities, vocation, motor vehicle report, credit report, etc.  The policy premium may vary by the use of a term rider and other ancillary riders like waver of premium.
    Answered on May 18, 2013
  3. David PipesPRO
    owner/agent, Rooney Pipes Insurance Agency for the Horace Mann Insurance Companies, California
    Over the lifetime of the policy a whole life policy will usually cost much less than the death benefit.  As a matter of fact, many whole life policies cost almost nothing by the time they reach their 20th year or so.  Whole life insurance is the most reliable and cost effective life insurance policy that you can buy.  There are a great number of term policies that lapse every year and they are all cost and no benefit.
    Answered on July 11, 2014
  4. Jim WinklerPRO
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question, and one we are commonly asked! The answer isn't an easy one to give though. Life insurance is like tailored clothes - what fits you may not fit me, so your clothes will cost more or less than mine. Life insurance bases the cost on a lot of things that are uniquely yours. Your age, gender, smoking preference, amount desired, current health situation, family health history, prescriptions taken, and your job are all factors in the cost. I could give you a ballpark, if you want to contact me with specifics. Thanks for asking!
    Answered on July 12, 2014
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