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Financial Planning / Insurance - Life, Car, Home,etc.


Subject:  Re: Life insurnace costs Date:  9/21/2012  10:51 AM
Author:  EarlyToRise Number:  17674 of 18090

I'm 41, non-smoker. No major health issues, just high cholesterol that's handled with medication. I'm looking for a $1M 20 yr term life policy.

LI is much more a commodity. You only need it at most once! Definitely get a well-rated company, but otherwise (in my mind) it's 100% on price.

I have similar stats to yours above. When I was shopping, I was looking for $0.40-$0.60 annual premium per $1000 of coverage. So, for your $1M coverage, that would be $400-$600 per year in premiums.

You mention "just high cholesterol"; even though it's handled, you are unlikely to be underwritten at the best rate, but shop pretty hard on this one. It's a $10K+ investment over the 20 years.

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