Male   Female
  • Fees and costs for life insurance plans
  • December 20, 2013
  • By

    When it comes to investing in a life insurance policy, part of the necessary research includes the full range of costs and fees included.

    The website for one of the industry’s leading trade groups, the American Council of Life Insurers (ACLI), explains the various costs that consumers should expect to encounter when opening a new policy.

    It’s especially crucial for consumers to be aware that the cost of their premiums will be influenced heavily by factors like their age, health and family medical history. Other factors may include work-related risk factors and whether one is a smoker or has potentially dangerous hobbies, such as skydiving.

    The life insurance contract should provide clear information on any other fees consumers might find themselves subject to. For example, those who cancel their policy or borrow from the value of it may face fees, notes the ACLI. Of course, there may be additional fees imposed if a person makes late payments or allows premiums to lapse because of non-payment, although there is often a 30-day grace period provided by the insurer for such situations.

  • Category: Articles Library, Life Insurance, Tips, Videos

Leave a Reply


About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  

Copyright ©1984-2018 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.