Jun 23
Term insurance rates are the lowest in history!
Most experts agree that level premium term life insurance is the simplest, and most economical way to protect families against the unexpected loss of a breadwinner.What most experts haven’t noticed is that the term life insurance that we thought was inexpensive in the mid ’90’s has become ridiculously inexpensive over the past 10 years.
In fact, since 1994, term life insurance rates have fallen dramatically. For example, the most popular term life insurance product, 20-year guaranteed level premium term, purchased by a healthy 40-year old male nonsmoker in the best rate class available in January of 1994 would have cost a MINIMUM of $995 per year.That’s assuming the insured was astute enough to find the lowest rate in the market.Today, in 2006, a 20-year level term life insurance policy, for that same 40-year old is LESS than $400 per year, or less than $35.00 per month. That’s about 60% less than just 12 years ago!
More after the jump…
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