With regular life insurance plans, it is likely that you have to fully complete an application for coverage that will ask you about your health as well as your health history.
As a general rule the combination of smaller amounts, higher lapse rates and higher commissions and fees on debit insurance tends to make it more expensive than
comparable regular life insurance plans.
As mentioned earlier on, insurance premiums for the same are considerably higher when compared to
regular life insurance plans.
If possible, consider
the regular life insurance plan that comes at no extra cost and offer more coverage.
According to some people,
regular life insurance plans are mostly associated with low returns.
This is called double indemnity coverage and is often available even when accidental death insurance is merely an add - on to
a regular life insurance plan.
Cost — Rates are higher compared to
regular life insurance plans that do require you to take a medical exam and answer health questions.
There are certain factors that tend to increase the costs of debit insurance more than
regular life insurance plans:
This is obviously a good option for clients who have serious health issues and can't qualify for
a regular life insurance plan that is fully underwritten.
If you compare term insurance premium with that of
any regular life insurance plans, the premium for the term plan is always the lowest one.
It does not matter whether it is a term plan or
a regular life insurance plan.
«
A regular life insurance plan gives cover for death and maturity benefit also.