Term insurance with income benefit

If you have young children, you can provide low cost, adequate financial security to your family by buying a term insurance policy combined with a monthly income benefit.

Here are some examples:

Entry age 30
Period of insurance: 25 years
Lump sum benefit: $50,000
Monthly income benefit: $2,000 payable for remainder of term
Initial coverage = $50,000 + $2,000 X 12 X 25 = $650,000
Annual premium: $303 X 2 = $606 (male).
Annual premium: $184 X 2 = $368 (female).

Entry age 35
Period of insurance: 20 years
Lump sum benefit: $50,000
Monthly income benefit: $2,000 payable for remainder of term
Initial coverage: $50,000 + $2,000 X 12 X 20 = $530,000
Annual premium: $331 X 2 = $662 (male).
Annual premium: $187 X 2 = $374 (female).

If your children are older, you need insurance for a shorter period.

These benchmark rates are calculated based on the current mortality rates, and a fair loading for expense and profit margin. It may not be the actual rates now charged in the market.

See this FAQ:
http://www.tankinlian.com/faq/termassurance.html