Once you have purchased a life insurance, your premium (interest) is locked. Referring to the table above, if a 30-year-old woman bought this 20-year-old $ 500,000, her premiums would only cost $ 16.36 per month over the 20 years. If she died during this period, her beneficiaries will receive $ 500,000. After 20 years, the insurance expires.
Life insurance in the semester is similar to most other insurances in that you will not receive a refund if you do not use it. You pay premiums for the protection from what-ifs.
Impact of tobacco use on the cost of living insurance
Insurance companies have two categories of interest rates: non-tobacco and tobacco. If you smoke cigarettes, you get tobacco taxes.
Other types of tobacco and nicotine use such as cigars, pipes, chews, e-cigarettes and marijuana may incur tobacco charges depending on how often you use and the insurance company. To get the best price on life insurance, it is important to shop in the market if you use tobacco. Quotacy does this for you.
The table below shows the monthly cost of a 20-year life insurance policy that provides $ 500,000 in coverage by age and gender. The prices are for a healthy person who smokes cigarettes.