Life Insurance Rates Chesapeake Virginia VA

Reader’s Question:

A friend at work in Chesapeake Virginia VA was bragging about the life insurance policy he purchased for his family. He says he purchased $500,000.00 for less than $100.00 per month. Is that possible?

Herman

Chesapeake, VA

It is very possible that your friend has purchased a term life insurance policy in Chesapeake Virginia VA. Term life insurance policies are cost effective and provide substantial death benefits at very low cost. Premium rates are generally determined by the policy holder’s age, health, gender, medical history and in some cases financial profile. Term life insurance carriers may or may not require a medical examination.

As you have not included your friend’s age, it is difficult to say how much term life insurance he may have purchased for under $100.00 per month. However, those rates seem well within reason. It seems like your friend wants to protect his family in the event of his untimely demise. With a term life insurance policy, your friend has guaranteed that his beneficiaries will receive a fixed death benefit that he believes will enable the family to be financially sound if the unexpected occurs.

Most term life insurance policies have stated premium plans and other option. When you meet with your life insurance agent in Chesapeake Virginia VA, please ask about all term life insurance option including an option that might allow you to convert to a whole life policy at a future date. While term life insurance does not accrue cash value, it does offer flexibility.

To assess your options for life insurance in your area, you can compare quotes online from website like this one. All you have to do is type in your zip code in the relevant form located in websites like this one.

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