eBook

Chapter $8$

Financial Planning Exercise $6$

Life insurance premiums and comparison of types

EXHIBIT $8\mathrm{.}2$ Representative Annual Renewable Term Life Insurance Premiums:

$$100,000$ Policy, Preferred Nonsmoker Rates

When you buy term life insurance, you're buying a product that provides life insurance coverage and nothing more. This table shows representative rates for several age categories and selected policy years; actual premiums increase every year. As you can see, females pay less than males for coverage, and premiums increase sharply with age.