Money Investors
  • Money
  • Business
  • Cryptocurrencies
  • Lifestyle
  • Opinion
Subscribe
Money Investors
Money Investors
  • Money
  • Business
  • Cryptocurrencies
  • Lifestyle
  • Opinion
  • Lifestyle

How Much Does Life Insurance Cost?

  • December 22, 2021 8:23 AM
  • Augus Curtis
life insurance
Total
0
Shares
0
0
0

To try to remember what life insurance is, we must know that it is a contract that covers or can cover the risk of death, survival or disability. That is, the risks that can affect existence and health. The contract is made between the insurer and the policyholder, the latter may also be the insured, or the insured may be a different person. The person of the beneficiary may also coincide or not, who is the one who is compensated by the policy.

Obviously, obtaining the protection that life insurance offers comes at a cost. However, this cost is determined by several reasons. Therefore, we want to show you how much life insurance costs and how much you can charge with it.

What is the price of life insurance?

When finalizing how much life insurance costs, you have to take into account various factors or criteria that are considered together with the form of payment of the policy, whether annual or fractional.

In every life insurance policy a capital is insured, so the amount insured will influence the amount to be paid for the annual premium. The relationship in this case is one of direct proportionality, since logically, the higher the sum insured, the higher the amount of the premium.

Another essential aspect to take into account is the age of the insured. In this case also the direct connection system since the premiums go up as the insured’s does.

In addition, the premium may vary depending on the time for which the insurance is contracted. At this point, we refer to the number of years for which it is an insurance contract.

Since it is a type of insurance that takes into account the existence and health of the person, other important criteria when determining the annual premium to pay are the health status of the insured, including whether or not they are a smoker, if you suffer from any kind of disease or disorder, etc. As well as, his job profession. It is especially taken into consideration whether or not the usual activities of the job are risky.

Taking into account all the factors that are necessary for calculating the premium, insurance companies make actuarial tables that allow them to put a price on the activity of insuring a certain risk, based on the frequency with which said risk occurs. for a large number of people.

That said, it should be noted that insurers do not use the same tables and, therefore, it is not possible to make an exact calculation of a premium. However, some average examples can be given to give the reader an idea of ​​the amounts.

  • If the insurer had an average age, of about 35 or 40 years, and was healthy (understanding by such that he did not suffer any type of disorder or disease), he did not consume alcoholic beverages, nor was he a smoker, to ensure an average capital, of about €35,000, the annual premium, based on the comparison between different offers, could be over €76.
  • If the insurer were a person of about 50 years, with characteristics similar to those of the insured described above, and had the intention of insuring a capital of about €50,000, he could pay an annual premium of about €140.

As can be seen, a considerable increase in capital will also entail a considerable increase in the premium. But, in any case, the value of the premiums is achievable by a family with an average purchasing power, and the contracting or not of life insurance can be essential for the future of a family, in the event of the situations in question. coverage.

Probably wanna read:

  • How much do you need to save to secure your future?
  • Is it possible to save money and turn it into more money?
  • 15 tricks you don’t know to save money at home
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Augus Curtis

I'm Augus Curtis the founder & editor of Money Investors. I love money, I love to make it and also to invest it. Here I share some ideas about business and money.

Related Topics
  • Insurance
  • Lifestyle
Editor
Augus Curtis
I'm Augus Curtis the founder & editor of Money Investors. I love money, I love to make…
Featured Posts
  • What is LVMH 1
    What is LVMH: Owner of luxury brands
    • January 15, 2023 6:20 AM
  • Google Business tools 2
    5 Google Apps for your online business
    • December 30, 2022 7:15 AM
  • Wordpress work 3
    10 Advantages of Using WordPress
    • December 30, 2022 6:43 AM
  • Servers hostings 4
    What Operating System to use in my VPS?
    • December 30, 2022 6:26 AM
  • Best Pets For Children 5
    What are the best pets for children?
    • December 26, 2022 7:41 AM
Recent Posts
  • Breeds Dogs
    How the different breeds of dogs arose
    • December 26, 2022 7:20 AM
  • nato-logo-1200x675
    These are the countries that are in NATO
    • December 17, 2022 7:11 AM
  • Biography of Giorgio Armani
    Biography of Giorgio Armani The Founder Of Armani
    • December 5, 2022 11:05 AM
Categories
  • Business (85)
  • Cryptocurrencies (32)
  • Lifestyle (42)
  • Money (99)
  • Opinion (74)
  • Travel (2)

ABOUT:

Money Investors is an economic and financial blog that wants to be a source of development of knowledge of the latest advances in studies related to the economy. Analyzing the various most relevant international opinion sources such as The Wall Street Journal, The Guardian, Market Watch, Market Times, BBC News, The New York Times and El País from Spain, we will provide diverse and eclectic approaches for understanding the economic panorama in depth, with a social and critical perspective of the various market players, as well as the institutions and structures that condition the behavior of these markets.

PRIVACY:

We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system.

DISCLAIMER:

Money investors is an independent, advertiser-supported website and may receive compensation for some links to products and services throughout this website. Opinions expressed on this site are the author’s alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Offers may be subject to change without notice. Money Investors exist to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. Stay on the righteous path and think long and hard before making any financial transaction! Disclosures.

Money Investors
  • About Us
  • Cookies Policy
  • Privacy Policy
  • DMCA
  • Term Of Use
  • RSS
  • Sitemap
  • Contact
© 2022 Money Investors LLC. A Curtis Times Company. All Rights Reserved.

Input your search keywords and press Enter.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT