Whats a good annual premium for a 50,000 whole life policy?

Question

I'm 28 perfect height and weight and don't smoke. No health problems and no family illnesses. Thanks.

Answer 1

Not enough information given to give a full answer.  However, don't do a whole life policy.  They are over priced and only good for those who like losing money.

If you have people who depend on your income, get a term product.  If married and kids, find one that will allow you to add them onto the same policy as riders to lower the cost.

If you are concerned about the length of time for the policy, find one that is guaranteed renewable to age 100 and is level premium.

Answer 2

Great answers everyone! Jeffrey d had the best answer. ZERO, ZILCH, NADA, is the best premium for the c**p they call whole life. That's the only way I would take it, if they gave it to me for free!

Answer 3

I would guess at 28, you either don't have any dependents and therefore don't need burial insurance (check your state laws; debts are usually uninheritable), or you do have dependents and need much more than $50000.

If you're still heck-bent on getting a $50k WL, check with at least 3 different insurance brokers to help find a better deal.  Friendly competition usually results in a better deal for you.

Answer 4

$0 is a great annual premium for a whole life policy! I am not trying to tell you what to do, but if you what the best benifit for you dollars. Cost is only an issue in the absense of value.

Take a look at term, and invest $100 a month into mutual funds with long term approaches, with 10 - 12 %  30 year or longer track records.

Answer 5

don't do whole life, its a rip off policy.  get term!

Answer 6

yes, get term

on the other hand if you have no assets, no one who needs your income...

all you really need is 10k (or thereabouts) for your final expenses.

make a comparison b4 you sign up with any one company.

question; does your employer provide life insurance?