Affordable Insurance Pro is now part of Cape
Coral Insurance Center
Phone 239-549-6255 Cell 239-357-6415
Cape Coral Insurance Center has all lines of insurance including health, life, home, auto, and business.
Term life insurance buying tips
I received an ad with my credit card statement.In big bold print it says $1.00 buys $50,000 life insurance. Of coarse there is an *. The * means first month then as low as $3.49/mo. Still sounds pretty good, so I decided to investigate further. I went to their website and looked at their sample policy. It turns out that the $3.49 is for a $5,000 policy and it goes up on 2010, 2015 etc every five yrs. I ran some quick quotes on my term life. $50,000 is the smallest face amount most companies will quote.
| 35 Female best preferred rate | ||||
| Plan | Level Premium Period | Premium Guarantee | Death Benifit | Monthly Premium |
| 10 year | 10 years | 10 years | 50,000 | $8.00 |
| 10 year | 10 years | 10 years | 100,000 | $8.99 |
| 10 year | 10 years | 10 years | 250,000 | $11.13 |
| 10 year | 10 years | 10 years | 500,000 | $13.80 |
| 10 year | 10 years | 10 years | $1,000,000 | $19.14 |
| 20 year | 20 years | 20 years | 50,000 | $9.00 |
| 20 year | 20 years | 20 years | 100,000 | $10.41 |
| 20 year | 20 years | 20 years | 250,000 | $14.69 |
| 20 year | 20 years | 20 years | 500,000 | $20.47 |
| 20 year | 20 years | 20 years | $1,000,000 | $32.49 |
| 35 Male best preferred rate | ||||
| Plan | Level Premium Period | Premium Guarantee | Death Benifit | Monthly Premium |
| 10 year | 10 years | 10 years | 50,000 | $8.00 |
| 10 year | 10 years | 10 years | 100,000 | $9.17 |
| 10 year | 10 years | 10 years | 250,000 | $11.57 |
| 10 year | 10 years | 10 years | 500,000 | $14.89 |
| 10 year | 10 years | 10 years | $1,000,000 | $20.92 |
| 20 year | 20 years | 20 years | 50,000 | $9.00 |
| 20 year | 20 years | 20 years | 100,000 | $11.31 |
| 20 year | 20 years | 20 years | 250,000 | $16.91 |
| 20 year | 20 years | 20 years | 500,000 | $23.59 |
| 20 year | 20 years | 20 years | $1,000,000 | $38.72 |
As you can see it doesn't cost much more to go to a $100,000, 20 times what the credit card offer was, and this is Level Term for just a few dollars more. Another important thing to keep in mind. If you qualify for the best prefered rates you can buy extra life insurance for vary little more than a small policy. This is because the smaller face amounts don't have the best prefured rate so you pay much more per thousand dollars of coverage.
This shows why it is so important to deal with a local agent. You should never buy insurance mail order. A local agent can find you the best possible plan for your situation at the best possible price. Call Cape Coral Insurance Center for help on determining the best policy for you.