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What Is The Cheap Life Insurance?

Term Life Insurance & Whole Life Insurance Discussion

What Is The Cheap Life Insurance?

Postby bryten24 » Wed Jun 28, 2017 5:57 pm

There is no such thing as "cheap" life insurance.
All insurance is priced actuarially; that is, to reflect the risk it is covering.
Spock actually had the most accurate answer.
Annual, or yearly, renewable term coverage reflects the current year's mortality expense in each premium.
It is clearly the most cost effective coverage, as one is always paying for the current level of risk.
Of course, ART eventually becomes cost prohibitive as one gets too old.

Understanding this is how people come to the realization that permanent coverage (whole, universal, variable universal, etc.) is not "expensive;" it simply averages annual mortality cost over a greater period (one's life expectancy) than level term.

Consult with a properly qualified financial planner or advisor and determine your objectives; then purchase the policy that best meets those objectives.
bryten24
 
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What Is The Cheap Life Insurance?

Postby Vardan » Thu Jun 29, 2017 12:09 am

There is no such thing as "cheap" life insurance.
All insurance is priced actuarially; that is, to reflect the risk it is covering.
Spock actually had the most accurate answer.
Annual, or yearly, renewable term coverage reflects the current year's mortality expense in each premium.
It is clearly the most cost effective coverage, as one is always paying for the current level of risk.
Of course, ART eventually becomes cost prohibitive as one gets too old.

Understanding this is how people come to the realization that permanent coverage (whole, universal, variable universal, etc.) is not "expensive;" it simply averages annual mortality cost over a greater period (one's life expectancy) than level term.

Consult with a properly qualified financial planner or advisor and determine your objectives; then purchase the policy that best meets those objectives.
Vardan
 
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What Is The Cheap Life Insurance?

Postby Cambeul » Thu Jun 29, 2017 9:17 am

Can you give more details?
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What Is The Cheap Life Insurance?

Postby Eluwilussit » Sat Jul 01, 2017 1:40 am

Remember that an insurance company can close anyday.

You could pay for years and years, and then if that company closes, you have no insurance.

Be careful with cheap life insurance.

Go with a reputable company that has been in business for at least 20 years.

And never get whole life - stick to term.

/
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What Is The Cheap Life Insurance?

Postby Madelon » Thu Jul 06, 2017 9:52 am

guaranteed renewable annual term.
go shopping for price and quality of insurance company.

price goes up each year [as you get older], but you stop buying it when you no longer need it.
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What Is The Cheap Life Insurance?

Postby Berchtwald » Fri Jul 07, 2017 3:13 am

I might suggest one to try this site where you can compare quotes from different companies: http://QUOTES-FOR-INSURANCE.NET/index.ht...

RE :What is the Cheap Life insurance?

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What Is The Cheap Life Insurance?

Postby saniiro28 » Wed Jul 12, 2017 5:19 pm

The one giving you the least amount of coverage for the shortest period of time, is the cheapest.
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