Undoubtedly nobody wants even think about the chance of dying prematurely. That is why there are many myths regarding life insurance and life insurance costs. What is more, these life insurance misconceptions could cost you much more in perspective. For instance, many people think that when they are single and don’t have dependents, consequently they do not need life insurance coverage. Another popular misconception surrounding life insurance is that only breadwinners need life insurance coverage. Despite all your assets and steady income at the present moment, it is always a good idea to think about life insurance.
The following infographic shows the cost of life insurance as a senior citizen at the age of 50, 60,70 and 80. As illustrated in the infographic, the factors affecting your quote are the following: past health issues, cholesterol, blood pressure, weight, age, gender, heart health and more. But what is the cost? This life insurance infographic shows statistics related to premium per month by age. Particularly estimates in the charts are based off applicant being in good health and a non-smoker. Keep in mind that your individual estimate will vary. Moreover, you will read about the insurance options. First, you will read details about permanent life insurance. Furthermore, term life insurance statistics is also given for your convenience. This insurance options chart provides details about the insurance type, premium, death benefit, cash benefit and investment choice for both permanent and term life insurance. For example, while the death benefit for the universal life insurance is variable, the renewable term insurance has fixed death benefit. What is more, all types of permanent life insurance have cash benefit opposed to the lack of cash benefit for the three types of term life insurance. Additionally, only the Variable Universal Life Insurance and Variable Whole Life Insurance come with investment choice. The life insurance below also provides some useful recommendations regarding 60, 70 and 80-year-old people.
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