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Archive for the ‘Term Life Insurance’ Category

I am planning to go for Term insurance. Usually what is the premuim? (I know it will vary across different Insurance companies, but I guess there wil only be a small varition across)

Say I need a cover of 25 lakhs for 25 years

There is no typical premium as it will vary based on your death benefit, duration of term, age, and health. Try re-posting this in the Indian Y! Answers to get more specific information and quotes in lakhs.

If I had a 15 year Term Life Insurance at $100,000. with no surrender value. What would it be at the end of 15 years. Can I collect the full amount on this type of insurance?

Term Life Insurance doesn’t build any cash value. At the end of the term, you may be able to renew it or convert it into another life policy. If you die during the term, your beneficiary gets $100k. If you cancel the policy at anytime, you get no money back. You may get a refund of excess premiums you paid (depends on how often you pay, such as yearly payment).

I don’t know your situation, but $100k coverage seems small. In the area I live, the average face amount my company issue is around $500k (national average is $275k) on husband and wife for a total coverage of $1 million.

Anyway, you might want to recheck if $100k is enough to cover your family’s finances and also check if 15 years is all you need to build wealth for retirement.

I’m 39 and have life insurance through my employer. I could probably obtain private life insurance for the same rate.

Is it wise to get non-employer term Life Insurance now (before I’m 40)?

I may not stick with my current employer for another ten or twenty years, but I’ll probably be here for a few years. Is there any downside to waiting to obtain term life Insurance elsewhere?
Solution243–Looks like you have no real answers but send everyone garbage links (for scam, perhaps?). Or maybe the same link (from you) really does answer both this question AND someone else’s question about how much he should be paid for working at a deli in New Jersey.
I work for the federal government. The rate is decent, though I might be able to get a little better.

It is a good idea to think about this now. And, yes you should get Term Life Insurance because your employer’s insurance is usually not transportable. Meaning you can’t take it with you.

Why do you want insurance? What do you expect it to do for you? Do you really need it?

If you are single, you may not need it, or you may need quite a bit less than you think. Married, homeowners with kids- now you NEED it. Especially, if you do not have enough in liquid assets to cover needs for the next ten to fifteen years.

Look to companies who only use Level term insurance with no conversion policy, one policy to cover an entire household, and a policy that covers both existing children and future children for the same single premium. Be sure they will also complete a complimentary financial outlook survey for you, to be sure of you needs.