Yesterday, I received notice in the mail that my life insurance premium is increasing again this year. I have had term insurance, but the term ended last year and the premium increased from $295/year to $675. Ouch. Last year I paid it and planned to change policy holders for new term insurance. However, I totally forgot about it until the notice arrived.
The premium for the next year on my current policy is going up to $720 for the year. Don't like that one bit. I have already filled out an online application with USAA and hope to have this new policy in place before the next policy is due at the end of February. The current estimate for similar coverage is $280 per year!! It may go up once they complete the medical portion, but fingers crossed it won't go up too much.
I have just about saved the $675 for the upcoming premium. It will be nice to have a little extra cash saved for something else.
Life Insurance Changes
December 30th, 2011 at 04:57 pm
December 30th, 2011 at 05:42 pm 1325266943
What kind of term are you getting this time? I think it's prudent to lock in for the long-term if you are young and healthy.
December 30th, 2011 at 05:51 pm 1325267477
December 31st, 2011 at 05:50 am 1325310624
January 3rd, 2012 at 09:10 pm 1325625036