Did you know there are two common misconceptions about life insurance?
- People often think life insurance is more expensive than it really is.
- Many people think they don’t need life insurance when they are younger.
These two common misconceptions could cost you thousands of dollars over the life of your policy.
We understand that when you are young and healthy it’s hard to think about putting life insurance in place to take care of your family when you pass away. No one really wants to think about their mortality.
We want to help you see why it’s a smarter choice financially to get life insurance when you’re younger. We are going to break down a typical $250,000 term life insurance policy cost from age 20 to age 50 for men and women on a 10 year term policy. You will be shocked to see the difference. We can offer a 5 year simplified issue with only having to answer a few heath questions, up to a 30 year term policy with the option to extend the policy for an additional term period.
Male Female
Age 20: $28.81 per month Age 20: $16.98 per month
Age 25: $23.65 per month Age 25: $18.49 per month
Age 30: $24.08 per month Age 30: $19.56 per month
Age 35: $28.38 per month Age 35: $22.57 per month
Age 40: $35.90 per month Age 40: $26.23 per month
Age 45: $46.44 per month Age 45: $32.68 per month
Age 50: $64.93 per month Age 50: $44.07 per month
In the example above, if you waited to start a life policy at age 50 instead of age 20, you’d pay $4,334 more over the policy term for a man and $3,250 more for a woman. Life Insurance is the best way to guarantee some financial stability for your family after you’re gone. Let us help you take care of them. Give us a call to see your options today.
Office phone 208-322-1030