Sentences with phrase «costly than a term life insurance policy»
The cost of the whole life policy is the reason why many people choose other option since it can be 3 - 5 times more costly than a term life insurance policy.
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But it's also costlier than a term life insurance policy (up to four times as much for a comparable death benefit), and not as budget friendly.
Not exact matches
For example, whole life insurance policy premiums tend to be far more costly than the premiums associated with term life insurance policies.
If you're just starting out, universal life insurance offers an excellent means to accommodate the changes in your life, but may be more costly than a simple term policy.
For example, whole life insurance policy premiums tend to be far more costly than the premiums associated with term life insurance policies.
As an example, if you have life insurance to pay off your mortgage so that your family can remain in your home should something happen to you, but your mortgage balance will be paid off in ten years, then it may make sense to cover that need with an inexpensive term policy rather than a more costly whole life insurance plan.
It is important to realize that purchasing term life insurance with the disease will likely be more costly than buying a term life insurance policy for someone who is in good health.
Given the high probability of death by such an advanced age, whole life insurance policies are significantly costlier than a term insurance plan.
In many cases, those who are applying for a no medical exam life insurance policy may have health conditions that deem them as being more of a risk to the insurance company — and because of that, these types of policies will often be costlier in terms of premium than a medically underwritten policy, with all other factors being equal.
As we've discussed in earlier articles, life insurance policies that build cash value, such as whole or universal life, are more costly than pure insurance term policies because part of that additional cost goes into building cash value.