Determining the cost of whole life insurance will depend on a variety of factors, including your age, health conditions, and how heavily you intend to take advantage of the investment component of the policy. Unfortunately, there is no quick answer to this question because state and/or federal laws prevent insurers from listing prices online to keep consumers from being mislead about pricing.
Key factors that determine your premium are as follows:
Most companies have a proprietary formula for determining their premium, selecting demographics that serve to increase their portfolio's value. Keeping whole life insurance costs down might be your priority, but their priority is to keep you paying your whole life premium as long as possible; as such, you can expect to get a lower rate the younger you are as this particular type of insurance lasts until your death (and so do your payments.)
You only get one shot at selecting a whole life insurance plan that fits your budget, and there are a couple of secrets that consumers should know about before committing to a policy long-term. Read the articles below to get more information about predicting whole life costs and what you can do to ensure that you get the coverage you want at a price you can afford.
If you're ready to price out whole life insurance costs, use the form on top of this page to compare whole life rates online. You don't have to buy whole life insurance online today, and most quotes are good for 30 days while you investigate your options.