Wednesday, December 20, 2006

What is the cost of term assurance?

Customer: Mr Tan, I read your posting about low cost term insurance. How much does it cost to insure $100,000?

For Male, Non-smoker

          
Monthly Premium to insure $100,000 over 20 years

Entry Level Decreasing
Age
25 $10.70 $4.40
30 $13.40 $5.50
35 $18.90 $7.80


If you are aged 25, you can insure for $100,000 on a decreasing term assureance for 20 years for only $4.40 per month. It is quite painless to provide a sum sum for the security of your dependents.

For a female, the cost is much lower. Maybe, up to 50% lower!

Under a decreasing term, the coverage reduces by $5,000 a year. Under the level term, the coverage remains at $100,000 throughout the period.

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