CBS News reported four ways to cut down on the cost of life insurance: 1. Shop around for the best rates from reputable companies, 2. Improve your life expectancy by quitting smoking, etc., 3. Buy life insurance when you are young, and 4. Negotiate for lower premiums. Warren Kawano, age 35, was quoted $40 per month for a $200,000, 5-year term life insurance policy. Compare this to the rates in Table 20.1.

Annual premium using table	$
Annual premium	$

TABLE 20 Flve-year Twenty Twenty-year Age termAgellfe Agepayment life Age endowment Straight Life insurance rates for males for females, subtract 3 years from the age) 1.85 1.85 1.85 1.85 1.85 1.85 1.85 1.86 1.86 8.28 8.61 8.91 9.23 5.90 3.85 4.35 14.92 15.54 6.05 17.55 1766 18.33 19.12 20.00 20.90 21.88 22.89 23.98 25.13 26.35 2764 28.97 30.38 31.84 33.36 34.94 36.59 38.29 40.09 21 6.35 6.60 6.85 23 7.43 7.75 8.08 8.46 8.85 9.27 10.29 10.70 11.12 11.58 12.05 12.57 13.10 13.67 14.28 14.92 15.60 16.30 17.04 17.81 8.61 19.44 20.31 1.87 1.87 1.88 1.95 2.08 2.23 31 31 31 31 10.20 10.71 11.26 34 34 34 36 2.95 3.24 3.52 12.46 13.12 13.81 38 38 38 41 15.30 41 4.26 16.96 17.86 22.15