Life Insurance
Q: I out lived a 15 year term life insurance policy i am in conversion period.I was paying $56.96 a mo. They are saying if I want to continue with the policy my premium will be $11,740 a year. Does this sound right? $100,000 policy I am 75 ?
A: Thanks for your question, we actually only answer questions about car, home, auto and other property and casualty insurance here. However, I have to say from a math standpoint those numbers don’t add up. If you live another 10 years and just put that money in a savings account with your beneficiary’s name on it you will have $117, 400. Of course this is an unprofessional opinion and I have to advise you to seek professional financial advice before purchasing or making any investments for your life insurance.