Life Insurance Cost
The cost of easy issue life insurance is almost in direct correlation to:
- How large of a life insurance death benefit you buy
- How many health questions you answer on the life insurance application
- If you authorize the life insurance company to examine your records
Ever seen those commercials with $300,000 in term life insurance coverage for $15 per month? What the insurance companies don't tell you is that is for a 35 year old in perfect health, and only a 1-5 year policy.
If your health is not so perfect (most of us), and you have a disease that is treatable, you could see another 20, 30 years, or a normal life expectancy, so a short term life insurance plan, may not give you a long enough financial protection.
Whole life insurance typically cost 5 times (or more) then term, since the policy is doing more things. Burial or easy issue coverage is even more so, because they are assuming you have health problems, or you wouldn't be buying it.
Cost for a no questions asked burial / life insurance policy can be from $10-50 per month depending on your death benefit. If you are in poor health, you may want to buy several life insurance policies, since most have caps of $15,000-50,000.
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