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Anonymous

05 Aug 2020

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Am trying to calculate the total premium i would have to pay when purchasing term plan at age 25 vs age 35 and age 45, assuming that im planning to cover myself until 65 years old.?

Can gurus please recommend the most popular term plan out there and let me know if insurance companies do provide a list (stating the premium to pay at different age)? I cant seem to find this list online or do i have to retrieve it through financial advisor for this information. Please advise!! thanks!!

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Hariz Arthur Maloy

05 Aug 2020

Independent Financial Advisor at Promiseland Independent

You can use tools like comparefirst to get a gauge.

But let me provide some numbers from one of the insurers I represent.

I'll use 1M covering Death/TPD and Male Non Smoker as the profile and premium is before any discounts.

Age 25 ANB buying for 40 years.

Premium - $580/yr Total - $23,200

Age 35 ANB buying for 30 years.

Premium - $860/yr. Total - $25,800

Age 45 ANB buying for 20 years.

Premium - $1,396/yr. Total - $27,920.

There you go.

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