$25,000 Whole life insurance policies

$25,000 Whole life insurance policies

What is whole life insurance?

Whole life insurance is a type of life insurance. It offers coverage your entire life, regardless of how old you get or your health conditions, as long as you pay your premiums. What are premiums? The premium is the amount you pay your insurance company for your whole life insurance policy.

Here’s how whole life policies work, you pay your premiums, and in return the insurance company pays your beneficiaries a lump sum on your death. No tax is charged on the death benefit. The death benefit is also called face value. You can nominate family members, friends, loved ones, etc. as beneficiaries. There is no limit on the number of beneficiaries.

The purpose of the death benefit is:

·         Income replacement for your dependents

·         Paying off debts, loans, mortgages, etc.

·         Paying for funeral and burial costs

Whole life insurance also builds up cash value. What is cash value? From the premiums you pay, a small amount goes to a separate account, the cash value accumulates here tax deferred over the years. Though it takes decades to build up, it can be very useful. If in the future if you are unable to pay your premiums, you can borrow from it. It can also be used if you are ever in a financial crisis. But you need to remember that once you borrow from the cash value, you are charged interest from the first day. If you do not pay it back, it is reduced from the death benefit. The cash value remains with your insurance provider after your death. The beneficiaries only get the death benefit. If you want your beneficiaries to get the cash value as well, you need to purchase a rider that specifies that.

What is burial insurance?

Burial insurance is a type of whole life insurance policy. Unlike other life insurance it is not designed to look after your dependents, but to only cover your end of life expenses like burial and funeral costs, paying off loans, debts, bills, etc.

Burial insurance is also known as final expense insurance and funeral insurance. Since it is a type of whole life insurance, burial insurance policies never expire and the premiums stay the same.

Burial insurance has many features that makes it better than other life insurance policies. It has quick approval rates, often requires no medical exams, is portable, and has a very relaxed underwriting process. The underwriting process is used by insurance providers to determine the amount of risk posed by a potential client and thus determines your eligibility and the cost of your premiums.

What is an insurance quote?

An insurance quote is an estimate of your rate with an insurance company. The more information you are willing to give, the more accurate this estimation will be. You can request quotes over the phone or through email.

 

$25,000 whole life insurance policies  

This section will present different $25,000 whole life insurance policies for different age groups and companies.

There are a few things you need to remember about the rates of these whole life insurance quotes’ rates.

·         Females in Montana will pay the same rates as the males in their age group. This is because of a state law the states both men and women will pay the same for insurance policies.

·         The cost of these whole life insurance quotes may vary depending on your health condition.

·         You need to qualify for these rates.

·         If you don’t smoke cigarettes but use other forms of tobacco, you may or may not qualify for non-tobacco whole life insurance quotes with some companies.

Whole life insurance quotes for ages 40-49

 

 

AGE

Female Non Tobacco

Male Non Tobacco

Female Tobacco

Male Tobacco

40

$38.81

$40.08

$51.32

$60.31

41

$39.97

$41.67

$53.16

$64.14

42

$41.13

$43.29

$55.02

$67.97

43

$42.28

$44.91

$56.85

$71.77

44

$43.44

$46.53

$58.71

$75.60

45

$44.60

$48.15

$60.55

$73.29

46

$46.18

$50.18

$62.93

$75.69

47

$47.75

$52.24

$65.34

$78.65

48

$49.33

$54.27

$67.73

$81.86

49

$50.93

$56.33

$70.51

$84.13

 

Whole life insurance quotes for ages 50-59

 

AGE

Female Non Tobacco

Male Non Tobacco

Female Tobacco

Male Tobacco

50

$56.87

$68.09

$72.24

$87.42

51

$58.83

$70.96

$76.08

$92.40

52

$59.90

$73.00

$79.81

$96.45

53

$61.74

$75.69

$83.46

$101.66

54

$63.86

$79.21

$86.84

$107.11

55

$66.19

$82.93

$90.53

$113.36

56

$68.37

$86.33

$94.12

$118.82

57

$70.33

$89.96

$96.99

$124.02

58

$72.27

$93.36

$99.84

$129.23

59

$74.45

$97.23

$102.95

$135.46

 

Whole life insurance quotes for ages 60-69

 

AGE

Female Non Tobacco

Male Non Tobacco

Female Tobacco

Male Tobacco

60

$77.36

$102.08

$106.87

$142.73

61

$81.48

$108.65

$112.59

$152.61

62

$85.35

$114.94

$118.30

$162.76

63

$89.49

$121.49

$124.02

$169.87

64

$93.61

$128.05

$129.47

$177.86

65

$97.72

$134.59

$135.19

$186.20

66

$103.80

$143.56

$144.05

$197.37

67

$109.85

$152.52

$152.88

$207.73

68

$115.92

$161.51

$161.27

$220.19

69

$122.22

$170.48

$170.57

$232.66

 

Whole life insurance quotes for ages 70-79

 

AGE

Female Non Tobacco

Male Non Tobacco

Female Tobacco

Male Tobacco

70

$128.29

$179.45

$176.49

$241.83

71

$136.77

$191.08

$185.69

$255.98

72

$145.49

$202.50

$195.39

$270.90

73

$155.02

$215.22

$206.39

$287.77

74

$164.65

$228.08

$217.70

$305.17

75

$176.22

$244.02

$232.09

$327.26

76

$190.82

$262.37

$259.21

$363.75

77

$203.97

$279.30

$277.19

$380.42

78

$216.29

$294.83

$292.50

$395.00

79

$228.73

$310.77

$302.13

$411.67

 

Whole life insurance quotes for ages 80-85

 

 

AGE

Female Non Tobacco

Male Non Tobacco

Female Tobacco

Male Tobacco

80

$240.35

$326.83

$311.76

$426.25

81

$260.73

$352.68

$358.54

$520.45

82

$280.08

$379.05

$387.13

$564.97

83

$298.46

$403.73

$415.70

$609.89

84

$316.57

$428.40

$442.44

$651.90

85

$334.95

$453.08

$469.45

$694.16

Are $25,000 whole life policies worth it?

Is $25,000 whole life insurance policy too little, too much or just right?  How do you decide that? Here are some aspects you need to consider when deciding the amount of coverage for whole life insurance policies.

  •          Is this amount enough for your goals? Will it pay off your debts or loans, mortgages, cover your funeral and burial expenses, and serve as income replacement for your dependents? You need to do a calculation to estimate if $25,000 will be enough. You can get help from your insurance provider, agent or broker or use online calculators.
  •          Are you able to afford it? There is no point in buying a whole life insurance quote only to drop it after some time because you can’t pay the premiums. It will have been a complete waste of your hard earned money. You have the option of starting with a small coverage and then building it up over time.
  •          Money can always family drama. If you fear that, a $25,000 whole life insurance policy will leave money behind for your family and it may cause problems, opt for a smaller coverage.

How do I choose the right policy?

When purchasing any type of insurance, it is advised that you go for companies that are financially reliable and stable. There are other factors you need to consider along with this.

  •          The policy should be the cheapest compared to similar ones from other insurance companies
  •          The policy should offer coverage as soon as possible
  •          Work with an insurance agent or broker, they offer more options because they represent multiple companies, thus you will be able to choose the right policy.
  •          Guaranteed life insurance should be a last resort. Though it does not require any medical questions or exams, it comes with a two year waiting period and higher premiums.