Life Insurance - A Thoughtful Gift

Life Insurance

You’ve been looking to purchase life insurance but it’s on hold now that the busy holiday schedules are upon you. You’re just too busy right now? It can wait until after the new year? But wait - what better gift can you give your loved ones than some financial security? Term life insurance can be a cost-effective way to help reach that goal.

A male, age 45, who hasn’t used tobacco or nicotine products in at least a year can purchase a $500,000 10 year level term life insurance policy for approximately $140.00 per month. If he’s never used any nicotine/tobacco products (or hasn’t for five or more years), that $140.00 premium can possibly be reduced to $75.00 per month. Premiums for women are typically lower (our life expectancy is longer!). A woman age 45 – using the same scenario as above – could anticipate a monthly premium ranging from $100.00 down to $55.00.

The costs also take into consideration any medical conditions or medications you take, driving record, family history, as well as other factors. Also, if you smoke or use nicotine products – the cost will increase.

Term insurance premiums are level for a minimum of 10 years, but 15, 20, 25 and 30 year level premium periods may be available as well. Keep in mind the longer the level premium period, the higher the cost tends to be. Also, the maximum level term period will vary by insurance company and by your individual age.

Pivot.com offers term life insurance through some of the industry’s top rated insurance carriers such as Lincoln Financial, MetLife, Nationwide and Principal, to name a few. 

About the author: Melanie Tretheway has been in the life insurance business for over 30 years. She is a mother of two who loves baking, reading, gardening, and taking care of her family. Melanie takes great pride in making sure you are informed, especially when it comes to choosing the right life insurance policy for your family. You can contact Melanie at 1-800-651-1953 or MTretheway@Pivot.com.