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08Aug2013

Fixed price Life Insurance premiums

Are you sick and tired of your Life Insurance Premiums increasing every year ?

Is the cost of your Life Insurance becoming too high ?

The most common type of Life insurance policy will increase in price every year.  This type of premium is called “rate for age” or “stepped” and most life insurance policies sold today will be this way.

You may find this annoying, and rightly so, the price of your insurance will start off affordable, but will eventually become very expensive. So over the life of the policy you will pay a lot of money.

But there is another option, and its called a level premium, or Fixed price Life Insurance Premiums.

Level premiums will stay at the same price from the inception of the policy.

Level premiums are a great option if you are looking to keep your life insurance policy long term as the price is locked in at the beginning.  Be prepared to pay a higher monthly amount from the beginning, but in most cases this will be worthwhile in the long term as the stepped premium that increases every year will become higher than the Level premium.

The younger you are the more you will save as the level premium is locked in at a lower price so don’t wait contact us and we will get you a great policy and a great price.

We can also convert your existing Life Insurance Policy to a Level premium for you.

Lets compare the two policies

Life Insurance of $400,000 on a 30 year female non smoker.

          Rate for age                       Level to age 80

Monthly Premium :         $25 per month                  $60 per month

What will my premium be

At age 49                             $     65 per month                  $60 per month

At age 54                             $   107   ”     ”                         $60  ”          ”

At age 59                             $   183   ”     ”                         $60  ”          ”

At age 64                             $   373   ”     ”                         $60   ”         ”

At age 69                             $   747   ”     ”                         $60   ”         ”

At age 79                             $2,332  ”      ”                         $60   ”         ”

Rates taken from AMP as of 8 Aug 2013

If you want to get a quote for a fixed price Life Insurance, click here to request a quote.

Life Insurance

  • 8 Aug, 2013
  • Ball Andrew
  • 0 Comments

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