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I got a quote for term life insurance for 20 years?

...and it cost $5717.28 is that what I'm supposed to pay monthly or yearly or for the whole 20 years? I have high blood pressure. but it's controlled since i'm taking medicine and eating healthy. I have one son from previous marriage. I'm 49 years old.

Public Comments

1. Not sure. We pay about $130 per month for 400,000 on me and 300,000 on my wife. We are in our late 30s and relatively healthy. So that amount does not seem to fit into any of the timeframes. How much are you getting? Do you have health issues?
2. If your healthy that's probably the term cost. If you have cancer, its probably the monthly cost. (-= hope you dont have cancer!
3. First off. get out of term! you are assuming you will die in twenty years? That better be over twenty years(your payment) Do you have kids? then maybe some term. talk to more than one adviser. it's easy to get caught up in their charts and sales pitch. Look into IRAs and maybe only a 25,000 dollar policy(for funeral,credit card debts etc.) If you are under 45 without kids. Bail Out! If not. Go for life
4. You didn't say how much coverage you are getting for this rate. You have a preexisting condition with your blood pressure. Your height & weight are major factors in rating life insurance. Do you have any additional riders on your policy? Your occupation, traffic violations, accidents & DUI's play a major role. Without knowing these additional things, you should be getting at least $500K to $750K in coverage on a 20 term policy.
5. How is it possible that you are going to do business with someone who can't answer these questions for you? If your agent can't explain this well, how will they be handling your claim? For the love of all that is right in the business world, please deal with an agent who is knowledgeable, trustworthy, and answers your questions fully.
6. The best rates are available with some companies if you take blood pressure medication and it is controlled. As far as the $5717.28 is concerned, how much is the death benefit of the policy?
7. That is expensive for a $50,000 policy but cheap for a $50,000,000 policy. You really need to talk to a financial professional about the amount and TYPE of insurance that will best help you reach your GOALS. Have you considered DISABILITY insurance if you become unable to work but don't die? Have you considered how you will pay your future medical bills when you are retired? (Medicare does not cover everything).
8. For non-tobacco, $500,000 policy for 20 years I have run a quote and it would cost $166.25/month or $1995 per year. Seems as though you may be paying too much. How much insurance do you have? Does your child live with you?