Sentences with phrase «costly than whole life»
Term life insurance coverage can be much less costly than whole life and variable life, and the terms can be as long as 30 years.
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More costly than whole life or universal life policies because of their shorter time frame, endowment policies are sometimes used as a way of paying for young people's college tuition.
Term life insurance is a popular option as it is less costly than whole life insurance.
Another thing to keep in mind is that term insurance is less costly than whole life insurance for equal amount of death benefit.
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.
Because of this, premiums on whole life are significantly costlier than what you'll find with term life insurance (discussed below).
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.
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.
Given the high probability of death by such an advanced age, whole life insurance policies are significantly costlier than a term insurance plan.
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.
You moreover have to take note that whole life insurance no medical exam is more costly than the normal method because of the higher risk an insurance supplier has to take.