The phrase "exorbitant premiums" means very high or excessively expensive fees that you have to pay regularly, especially for things like insurance or memberships. Full definition
So, consider which is a better retirement plan... to defer your life insurance and pay exorbitant premiums later, or pay more when you're younger and enjoy fully paid up life insurance protection as a retiree? (insuranceandestates.com)
If you're the owner of rare coins, the American Numismatic Association (ANA) warns: «Unfortunately, many homeowners» policies provide very little coverage for coins» and «when insurance companies willingly add coins to a policy, they often require that each piece be listed with a fixed value and could charge exorbitant premiums for coverage.» (insure.com)
So, consider which is a better retirement plan... to defer your life insurance and pay exorbitant premiums later, or pay more when you're younger and enjoy fully paid up life insurance protection as a retiree? (insuranceandestates.com)