I am a senior. What would my monthly premiums be for $250K, $300K
Total Comments: 16
Posted: Thu Apr 16, 2009 08:13 pm Post Subject:
1st off, you posted this in the wrong section, this is the auto insurance section.
Secondly, it would depend on your exact age and your health. A third factor of course would be the company you go with. If you don't mind my asking, what state are you in?
Posted: Fri Apr 17, 2009 05:53 am Post Subject:
I’d second Todd, the premium amount would depend upon several factors, including the age, health, coverage amount and such. However, life insurance is always expensive for seniors.
Todd, would you suggest a senior to invest in the whole life plan?
Posted: Fri Apr 17, 2009 06:40 am Post Subject: insurance
Are you in 'good' health, OP? I mean, no MAJOR problems? As some of you know, I work with the Elderly. A few of them are in pretty good health ( no MAJOR health risks..just things expected because of their age, which is 70-80). ONE of my 'Clients' wanted to get more Health Insurance for herself. I know her family had called around to different Insurance companies.........they are really having a difficult time finding anything for her.
Posted: Fri Apr 17, 2009 09:34 am Post Subject:
Single premium WL doesn't have monthly premiums. As a senior, you are probably better of with guaranteed universal life.
Posted: Fri Apr 17, 2009 12:17 pm Post Subject:
Are you in 'good' health, OP? I mean, no MAJOR problems? As some of you know, I work with the Elderly. A few of them are in pretty good health ( no MAJOR health risks..just things expected because of their age, which is 70-80). ONE of my 'Clients' wanted to get more Health Insurance for herself. I know her family had called around to different Insurance companies.........they are really having a difficult time finding anything for her.
Do you mean get more life insurance for herself? Maybe you should have her contact an independent agent who actually knows what he's doing. Having an old lady calling up different insurance companies to try to find coverage is usually a bad move.
To the guy who posted this - you'd probably be better off with a single premium guaranteed universal life policy (i.e. guaranteed until age 121). It will likely be far less expensive than the whole life for the same death benefit, but there are still several factors that should be taken into consideration. What state are you in? Are you taking any prescriptions, being treated for any conditions, have any family history of heart disease or cancer before age 60? What is your height/weight? What is your age?
Posted: Fri Apr 17, 2009 12:29 pm Post Subject:
Hi ermamb2,
It you visit to your nearer insurance center , the insurance agent will be able to clarify all your doubts, because your question requires lots of parameters to be concerned, like your location, age, you policy opted company etc all these matters. So your near by inmsurance agent can help you thoroughly.
Regards
Bhartiaxa
Posted: Fri Apr 17, 2009 03:02 pm Post Subject:
Todd, would you suggest a senior to invest in the whole life plan?
Jgeorge, to answer you question, yes, but iit has to be the right circumstances. Many different variables to consider.
Posted: Fri Apr 17, 2009 04:59 pm Post Subject:
Todd, can you give some specific examples where a senior would be better off using a Whole Life plan instead of a Guaranteed Universal Life policy?
Posted: Sat Apr 18, 2009 01:43 am Post Subject:
well, you have to consider underwriting, the NAR and all. I'm not saying they wouldn't be better off with the GUL, just that if the situation arises that I would have to do a SPWL vs SPGUL I would.
Posted: Sat Apr 18, 2009 10:57 am Post Subject:
Todd,
The underwriting isn't going to be different for the two products. Can you give an example in which an old person would be better off in a WL product than a GUL? I'm asking because I can't think of any fact pattern that would cause WL to be better than GUL for someone old. I'm assuming that you can since you said "yes" to Jgeorge. Please enlighten us. Thanks.
Posted: Thu Apr 16, 2009 08:13 pm Post Subject:
1st off, you posted this in the wrong section, this is the auto insurance section.
Secondly, it would depend on your exact age and your health. A third factor of course would be the company you go with. If you don't mind my asking, what state are you in?
Posted: Fri Apr 17, 2009 05:53 am Post Subject:
I’d second Todd, the premium amount would depend upon several factors, including the age, health, coverage amount and such. However, life insurance is always expensive for seniors.
Todd, would you suggest a senior to invest in the whole life plan?
Posted: Fri Apr 17, 2009 06:40 am Post Subject: insurance
Are you in 'good' health, OP? I mean, no MAJOR problems? As some of you know, I work with the Elderly. A few of them are in pretty good health ( no MAJOR health risks..just things expected because of their age, which is 70-80). ONE of my 'Clients' wanted to get more Health Insurance for herself. I know her family had called around to different Insurance companies.........they are really having a difficult time finding anything for her.
Posted: Fri Apr 17, 2009 09:34 am Post Subject:
Single premium WL doesn't have monthly premiums. As a senior, you are probably better of with guaranteed universal life.
Posted: Fri Apr 17, 2009 12:17 pm Post Subject:
Are you in 'good' health, OP? I mean, no MAJOR problems? As some of you know, I work with the Elderly. A few of them are in pretty good health ( no MAJOR health risks..just things expected because of their age, which is 70-80). ONE of my 'Clients' wanted to get more Health Insurance for herself. I know her family had called around to different Insurance companies.........they are really having a difficult time finding anything for her.
Do you mean get more life insurance for herself? Maybe you should have her contact an independent agent who actually knows what he's doing. Having an old lady calling up different insurance companies to try to find coverage is usually a bad move.
To the guy who posted this - you'd probably be better off with a single premium guaranteed universal life policy (i.e. guaranteed until age 121). It will likely be far less expensive than the whole life for the same death benefit, but there are still several factors that should be taken into consideration. What state are you in? Are you taking any prescriptions, being treated for any conditions, have any family history of heart disease or cancer before age 60? What is your height/weight? What is your age?
Posted: Fri Apr 17, 2009 12:29 pm Post Subject:
Hi ermamb2,
It you visit to your nearer insurance center , the insurance agent will be able to clarify all your doubts, because your question requires lots of parameters to be concerned, like your location, age, you policy opted company etc all these matters. So your near by inmsurance agent can help you thoroughly.
Regards
Bhartiaxa
Posted: Fri Apr 17, 2009 03:02 pm Post Subject:
Todd, would you suggest a senior to invest in the whole life plan?
Jgeorge, to answer you question, yes, but iit has to be the right circumstances. Many different variables to consider.
Posted: Fri Apr 17, 2009 04:59 pm Post Subject:
Todd, can you give some specific examples where a senior would be better off using a Whole Life plan instead of a Guaranteed Universal Life policy?
Posted: Sat Apr 18, 2009 01:43 am Post Subject:
well, you have to consider underwriting, the NAR and all. I'm not saying they wouldn't be better off with the GUL, just that if the situation arises that I would have to do a SPWL vs SPGUL I would.
Posted: Sat Apr 18, 2009 10:57 am Post Subject:
Todd,
The underwriting isn't going to be different for the two products. Can you give an example in which an old person would be better off in a WL product than a GUL? I'm asking because I can't think of any fact pattern that would cause WL to be better than GUL for someone old. I'm assuming that you can since you said "yes" to Jgeorge. Please enlighten us. Thanks.
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