Sentences with phrase «comparable amount of death benefit»

In many cases, permanent life insurance quotes will be higher than term life quotes for a comparable amount of death benefit coverage on an individual.

It is for this reason that the premium for term coverage is typically less than that of permanent life insurance plans with a comparable amount of death benefit coverage — at least initially.

Not exact matches

Because of both the death benefit and the cash value component that are offered with permanent forms of no exam life insurance, the premium for these types of policies is usually higher than it is for a comparable amount of no medical exam term life insurance protection.

Because term life provides death benefit coverage only, it is typically not as costly as a comparable permanent policy that provides the same amount of coverage along with cash value builds up.

Therefore, for someone who is on a fixed budget, a permanent life insurance policy may be a good option — even though these policies will oftentimes start out with a higher premium cost than a comparable term insurance policy with the same amount of death benefit.