Blended life insurance cuts premiums in half3 of 7Permanent life insurance can cost a pretty penny, while term life insurance can be cheap. A blended life insurance policy gives you the best of both worlds by lowering your annual life insurance premium. According to Witt, a $2 million permanent life insurance policy could cost a couple in their late 60s about $80,000 a year in premiums. But that same policy as blended life insurance could cut the cost to $40,000."If you want a certain level of coverage, then a blended policy produces lower premiums than an all-permanent life policy would," says Witt.« Back to Do you need life insurance? Related Articles:Life insurance calculatorThe basics of life insuranceInsurance calculatorsInsurance needs consentRelated Links:Do you need life insurance?14 bad insurance betsTerminating a term life policyPermanent insurance primer advertisement
Permanent life insurance can cost a pretty penny, while term life insurance can be cheap. A blended life insurance policy gives you the best of both worlds by lowering your annual life insurance premium. According to Witt, a $2 million permanent life insurance policy could cost a couple in their late 60s about $80,000 a year in premiums. But that same policy as blended life insurance could cut the cost to $40,000.
"If you want a certain level of coverage, then a blended policy produces lower premiums than an all-permanent life policy would," says Witt.
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