What would you like to do?
How much life insurance can you get?
The amount if life insurance you can get depends on several factors that the insurance company takes into consideration, including: 1. Your health status. 2. Your family's health history. 3. The amount of life insurance you already own. The insurance company doesn't want you to be over-insured. Most life insurance company will allow you to purchase up to 10 times your annual income, or more in life insurance. So, if you earn $100,000 per year, the insurance company may allow you to purchase up to $1,000,000 or more of life insurance. Answers Life insurance is something that you need to ensure that your loved ones are financially safe and secure, in case of your death. Therefore, it is always advisable to have the maximum insurance cover depending on your present needs. Life insurance needs are determined by various factors like: gross income, age, period, inflation rate etc. Refer to life insurance calculator: http://www.accuquote.com/term-life-insurance-calculator.cfm to determine approximate life insurance coverage for your particular situation
5 people found this useful
Was this answer useful?
Thanks for the feedback!
A life insurance payout is not taxed.
There are various costs. Study materials are anywhere from $100 - $200. A pre-exam course if you choose to take one or if your state requires one, The exam is another $100 +/-… Then there is the cost of the license in your state. Once licensed you will also have the expense of an E&O insurance policy, continuing education and of course marketing. I re-imburse most of these expenses for my agents. Want to get licensed? Get in touch. 4LifeGuild
How can I find out how much of a life insurance I have through Jefferson National Life insurance company?
I am trying to find out if I have a life ins. policy with Jefferson National? Sandra Wilson 317 LeaAnne St. Rensselaer, IN 47978 DOB 03-14-39
The cost of a life insurance policy depends on your age, lifestyle habits and marital status. It is hard to determine without these specifics. Additionally, any features that …you woul dlike on your life insurance policy would effect the price.
Answer Yes, but that limit depends on the underwriters at the company where you're buying the policy. Attempting to purchase an amount of insurance that doe…sn't match your income or obligations would tend to raise eyebrows in an underwriting department. (10 times your income is probably okay, 100 times your income is probably excessive) If there is a valid reason for the amount of insurance that you want to purchase, you probably won't have any problems.
It depends on many factors: your age, sex, occupation and health among others, and the amount of insurance that you want to buy.
In Canada, in the case of a brokerage (independent business that can sell products from a number of different insurance companies) usually 60% of the 1st year's premium …goes to the insurance brokerage (business that the aggent works for) and then the agent may get 60% of that . If a brokerage does enough volume, they may qualify for a "bonus" from the insurance company and the agent may receive a portion of this too, upon the descretion of the brokerage.
I am currently doing research on it. And from my understanding it all depends on whom you are trying to insure. It depends on health, smoking and alot of other things.
If you have coverage of $250,000 and you die, then your beneficiary will get $250,000.
There are way too many variables to be able to give you a $$ amount including but not limited to your age, smoking status, personal health, family history, and the list goes o…n and on. Contact a reputable broker for multiple quotes.
Unless there are gift or estate tax consequences, then a $500,000 death benefit should pay the beneficiary an exact $500,000. Life insurance benefits will generally be paid in…come tax free. If the situation is more complicated than it would have to be assessed differently.
Generally, you can only borrow money from the following types of policies: 1. Whole Life (aka Ordinary Life, Cash Value Life) 2. Univeral Life 3. Variable… Life Note: there are a few others which are much more uncommon, generally speaking. Note: there are some Term Life policies that accumulate cash in the form of Dividends (which can be either anticiapated or unanticipated) and interest paid on accumulated dividends. This type of "cash" can be withdrawn but it cannot be put back. 1. Whole Life The money which can be borrowed from a Whole Life policy are funds which are known as the "Guaranteed Cash Value". These funds generally take many years to accumulate (5 to 20 or more years) before their is any meaningful value (acknowledged subjective). The easiest way to understand just exactly what Guaranteed Cash Value (GCV) is, would be to imagine this increasing value (GCV) to represent the portion of the policy "Death Benefit" that has become liquid. This "liquid" Death Benefit is one of the features that allows a company selling the policy to keep the premiums level for the life of the insured. It must be understood that when you borrow these funds out of the policy, you have removed some of the liquid Death Benefit. Therefore, if you should have a claim (die), this portion which you borrowed (and have not paid back) would be deducted from the Death Benefit that is paid to your beneficiary. It is also important to understand that the Insurance Company will charge you interest on the money you borrow. The reason for this is that the money is no longer available for the Insurance Company to use in generating a gross return on its invested assets. 2. Universal Life The same scenario as 1. Whole Life above, excepting that the funds in a Universal Life policy that can be borrowed are simply know as Cash Value. A very important negatine characteristic of Universal Life is that borrowing money, which results in interest being charged on the borrowed balance, can cause the policy to terminate from inadequate funding. A lengthy explanation would entail but is not really necessary for the layman. Just know that you should make sure you are getting good advice on the effect of borrowing and the interest charges when you have this type of policy. There is a small percentage of Life Insurance Agents that are only interested in getting you to buy a policy and might not be giving you the best information, so call the company directly and get a printout that depicts the effects of borrowing money for a length period. (Stress point: I do mean a small as in a very small percentage of Life Insurance Agent. The vast ... vast majority of Life Insurance Agents are good people who are looking out for your best interests). 3. Variable Life The same scenario as above except that your money in a Variable Life policy is generally "invested" in "sub-accounts" (read mutual funds, not literally) and consequently is subject to much more "market risk" than funds in a Universal Life policy which are invested in the "General Account" and where the rate of interest earned is the only variable factor with direct relation to the Cash Value.
As much as you want. It all depends on how hard you are willing to work, how many companies you contract with, what they offer and how good your lead base is. Independent life… insurance agents can make six figures in their first year if they have the right stuff, don't give up and have all their eggs in a row.
You can buy any amount of life insurance that you want (and that you can afford). Policies can be as small as $500 or as large as many millions of dollars.
There are many examples of different life insurance rates on the Banner Life Insurance site. There is a couple who can get over a million dollars in coverage for a term plan s…tarting at $55 per month. They have other examples on their site and also an online quote available.
Regardless of your age, ethnicity, or gender the premium for Globe Life Insurance is $1 for the first month. As to the other months, price is based off of different risk facto…rs that other Life Insurance companies take into consideration.
Unfortunately, life insurance is never a cut-and-dry solid price. Like all kinds of insurance, the cost of life insurance varies widely from individual to individual; insuranc…e companies hire people specifically to figure out just how much to charge people based on statistical information. The best way to find out how much it costs is to contact the Primerica Life Insurance itself. It may be helpful, however, to note that, according to some, Primerica is rather pricey for life insurance.