Is the Cost Of Term Life Insurance Rising?
A few months ago, the word was spreading throughout the industry. There were magazine articles, and nightly news reports sending out the story that term life insurance rates were on the rise, after more than 10 years of declines. But honestly, there’s very little historical information about the cost of life insurance . It’s not like the stock market, that’s tracked every moment of every trading day. And different life insurance companies charge differing amounts for the exact same coverage on the exact same person. So in a sense, it’s hard to say what’s truly going on, except in the most general of terms. One article I read talked about how in the mid 1990s, the cost of a $500,000 term policy for a healthy 40 year-old man was close to $1,000 a year. By 1999, the article continued, the cost had dropped to about $425 per year for the same coverage. And by 2009, the cost had dropped further, to about $360. The alarming thing, according to the article, was that at the start of 2010 the cost had risen to $400
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Is the Cost Of Term Life Insurance Rising?
Written by Admin on May 27, 2010 under Featured, Insurance Basics, Life Insurance, Uncategorized.
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