Question:
what is the cheapest term insurance policy with coverage for 1 million for a 35 sf, non smoker in good health?
marty
2006-04-02 15:31:18 UTC
what is the cheapest term insurance policy with coverage for 1 million for a 35 sf, non smoker in good health?
Four answers:
thedoc64118
2006-04-02 20:02:21 UTC
PRIMERICA, I promise you. They are the biggest marketers of term insurance in North America.
Financial Answer Guy
2006-04-03 10:29:06 UTC
Doc is right about one thing, Primerica is one of the largest marketers of term insurance in America. This is due to the fact that their marketers are trained to do so nearly to the exclusion of all else. HOWEVER, the premiums are not very competitive. They are the Amway of the life insurance industry.



Remember that life policies are dictated by state requirements and the premiums can vary from state to state for the same insurance company. Also, as mentioned, you did not specify the length of term you are looking for.



But, to try to answer your question: A female, age 35 in excellent health looking for $1,000,000 of 20 year level term coverage in Pennsylvania could expect to pay around $35 per month. In fact, I have 6 carriers between $35 and $40 per month - none of them Primerica.



Without knowing alot more about your situation, I would not go so far as to say that Term insurance is the right thing for you. You must feel that you need significant coverage to be asking about $1mil. I hope you didn't follow bad advice by determining your need for coverage simply by multiplying your income by some number. This is a horrible way to decide how much coverage to get. The size of the multiplier is determined primarily by the greed level of the salesman.



Your best bet, in my opinion, is to find a financial planner in your area. Try the Planner Search feature of the Financial Planning Association's website, www.fpanet.org
2006-04-02 15:59:59 UTC
How long a term? 20 years? 30 Years? 5 years?
2006-04-02 16:07:01 UTC
I did a ton of research and I got the best quotes at the following site. Good Luck!!


This content was originally posted on Y! Answers, a Q&A website that shut down in 2021.
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