All Life Insurance Tips

Is 200 dollars too much for 500k life insurance?

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Public Comments

1. I don't know, when do you plan on dying?
2. Fund your retirement, not your death.
3. yes, it should be half that
4. What they are offering is term insurance. Term insurance suppose to be in expensive because it's term. $200 would be good for a death benefit that is also accumulating cash value such as a Variable or Equity Index universal life. What that means, is that a small portion would be going into your premium for permanent life insurance and the rest to your investments on tax deferred. Any more questions, please contact.
5. it depends on your age, your sex-m or f, smoker or not- assuming you are in good health- i am a retired ins broker and CFP & CPA & 200 seems like a bargain for 500 K of term life regardless of the above answer-- caution- it might be whats called super- preferred term which means non-smoker, excellent height and weight and superb health- in other words, a false promise because very few people can qualify for all of the above requirements to get super-preferred or select term life ins- check with an independent ins broker for a better choice of options- good luck to you !!
6. Morris is very right. Go see a licensed insruance professional (or 2 or 3). Find one that you can trust. Insurance protection can save you and your family a lot of heartache. But it is really very complicated and tough for the average person to understand and set up all the proper insurance protections. Good Luck
7. For your info, your rate is determined by your age and your health and whether you are smoking are not. So don't believe the rate is lowest in history. $200/month for $500,000 coverage is expensive. That's $2400/year! And it's not final either. That premium may go up. Anyway, if you are deciding to buy life insurance, make sure it's term. If they are giving you something that has savings or cash value attached to it, ask them if you can get rid of it (to lower the premiums) or keep the investments separate from the insurance.
8. If it's $200 per year, it's probably about right, if you're healthy, age 37 or so, and looking for 10 year level term. Less if you're younger, more if you're older. Less if you're female. And more if you're not in perfect health. And, more if you want the rate to last longer than 10 years. Most of the responses to this question are attempting to answer without enough information. In order to get exact numbers, one would need more detail about who you are, i.e. your age, gender, health, and what product you're talking about. Feel free to call 1-800-442-9899 for clarification and an accurate rate.