A higher deductible makes very
little difference in the premium because it has only a minimal statistical impact on the frequency of claims.
People who are looking for life insurance policies at age 63 and then at 64 will see very
little difference in their premiums, but crossing the 65 barrier makes a big difference.
* As you can see by the rates, there is very
little difference in the premiums from age 25 to age 35.
A higher deductible makes very
little difference in the premium because it has only a minimal statistical impact on the frequency of claims.
Not exact matches
Because the typical universal policy has a much greater focus on level
premiums and level death benefit, there is
little to no cash remaining
in the policy after several years as it's used to pay the
difference in mortality cost as the insured ages.
You can learn more about the
differences between variable and universal life insurance (it's essentially the manner
in which the cash value grows), but know that universal policies tend to be a
little more flexible, as they allow you to adjust your
premium and death benefit, within limits.
Many people are surprised at just how much coverage they can actually afford, and at how
little difference there is
in premiums as coverage levels go up.