Term Life Insurance-Term Life Insurance Rates

MrsRiesling asked:


I’ve never had life insurance, but my husband and I are planning on getting term life insurance. I’m 25 and he is 32. No kids.

We are both at the beginning of our careers. I definitely intend on making more money in the future. If we get a 5 year term policy based on our health and job situations for say $200,000 but then I get some amazing raise in my salary, and two years down the road, I want to increase our life insurance to $400,000. Is this possible or will we need to get an entirely new policy and this will not be reflected until the five years are up?

Stacia Escher

Oksana asked:


policy when he was 40. Now he is 45.

2) Marica Deerfoot purchased a $120,000, 5-year term life insurance policy when she was 55. Now she is 60.

PLEASE SHOW ME STEPS, thanks!

Mike Kolker

Ron T asked:


I bought a 20 year term life insurance with payment that I assume should be the same monthly for 20 years. When I received my Life Insurance Policy, it says my Initial Term Period is 20 years, but my Guaranteed Level Premium Period is 10 years. The policy also contains a “Schedule of Maximum Annual Premiums by Year” where it states that my maximum total annual premium is the same for 10 years, but goes up every year in the 11th year forward. When I asked the agent about this, he says it is standard that the insurance company has the right to increase my premium after 10 years, but they hardly ever do that. Is this true, or am I being hoodwinked? Thanks!

Angella Kilmer

???? asked:


Hi I was just wondering if I could cancel my life insurance with Northwestern Mutual just cause I can no longer afford it. Even if they try to reduce it I just can’t afford it. Do you know if cancelling the life Insurance is easy?

I have a whole life insurance with term life insurance
and a whole life insurance for my daughter.

Evie Wincapaw

carina asked:


Term insurance vs permanent insurance, one is cheap but is pure insurance, you do not build cash value, the other is more expensive and builds cash value over time. One is betting you will die, the other is betting you will live.

Billie Fujimoto

Rob S asked:


I am thinking about going into the nfl next year, does it matter when I buy life insurance. Also term versus whole and what about disability. To rates increase since I am a professional athlete. Does it matter if I buy it before I am technically a pro athlete? Supposed to be a 5th rounder, making about 700k my first year
I have friends that work with northwestern mutual and was curious if they would be able to help me out?

Richard

halfeatenpizza asked:


Okey dokey, so roughly how much would $250,000 of term life insurance cost annually for a 40 year old male non-smoker for a 20 year term?

Neely Marchello

ZhiYi asked:


Note, this is not a selling or commercial thread! I just post this question to ask about some life insurance terms which I came across when reading a personal money management booklet. Sorry for the rather long post. Please bear with the questions

For a life insurance, there is a sum assured. Is this pay out the same when the insurer dies or makes a claim or when the policy reaches maturity date?

Does making a claim means that the insured person has already died?

There is a term called “Projected claim amount”. The booklet explains it as the amount to be paid by the company when the insured person dies. This amount is not guaranteed and depends on the performance of the participating fund. So when the insured person dies, is the amount paid out equals to “sum assured + projected claim amount” ?

There is also another term “Projected maturity value”, which is explained as the value a policy holder receives on maturity date. It is not guaranteed and depends on the performance of the participating fund. So when a life insurance policy reaches maturity, does the insured person get the projected maturity value or projected maturity value + sum assured ?

Lastly, there is a term “Projected cash value”. It is explained as the cash amount which the company will pay the policy holder when he cancels the policy pre-maturely. So when the person cancels his policy before maturity or before his death, is the projected cash value the only amount he will get? What about bonuses or sum assured?

That is all. Thanks to all who read through the questions or helped to explain the terms.

Lorenzo Stapels

Mark R asked:


Any kind…. or if specific needed- 30 yr term life 250K

Morgan Imdieke

Henry asked:


I always feel like they want to keep selling me more and more….I just want a simple term life insurance policy for myself, and my husband. What is the EASIEST way to get this set up, sans all the sales rigmarole?

Jacinto Quails