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whole life question?

Okay im just asking this question to get some idea of the price of whole life insurance. Im really not planning on going out and picking up a policy right now or anything so no one tell me to go get some term and invest the difference. I just want to know this for educational purposes. with your best estimate, what will I pay per year for whole life at a mutual company like mass mutual or Guardian for the following three whole life policy sizes. 100,000$ policy 250,000$ policy 1,000,000$ policy. I am 23 years old, Male and in perfect health and would probably get the best rate for the lowest price. i am a non smoker also. Please just give me your best estimates on the yearly prices for those 3 policy sizes for a man of my age and health. again dont try to talk me out of buying these policies because i am not actually planning on buying

Public Comments

1. Never, never, never, never buy whole life. If you want insurance buy LEVEL TERM. If you want to invest, do so in good quality mutual funds with good long track records. Doing both in the same financial vehicle just ends up costing you more and you get less coverage and less return.
2. I would guess about $300/ yr $500/ yr and resistance on the million unless you could prove you are worth it - you get into the big stuff and they think you are going to ace yourself to set your family.
3. I ran this at a step above standard risk class (approx 15% discount over the normal population), not the very best risk class. So few people actually get that, it's simply unwise to let anyone think they might qualify for it. I'm rounding the guaranteed rate from one of the companies that you mentioned (that means this isn't an illustration or a precise indicator - just an approximation). There are lower premiums at this risk class, but they rely on dividends, and we all know that dividends cannot be guaranteed and past performance is not an indicator of the future performance. $100000 800/y $250000 1800/y $1000000 6800/y If you really need permanent life insurance, there are many other kinds of policies to consider.