Is cost of insurance something that I need to pay monthly for whole life, term and index UL? how much is the cost of insurance?

Hi anon.

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COI is something that has already been factored into a term plan or a whole life and amortized over the duration of the plan (whether whole life or term). As long as you pay the premium, you will get the coverage.

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For IUL the cost of insurance is something that you have to pay from the 'account' of the UL. In this case there will be a table showing the cost of insurance (usually per $1000 sum assured) within the policy illustration.

It will depends on what kind of life insurance you brought in. Is your plan limited pay? or pay forever. Is it a ILP? or a traditional one? for traditional insurance, fees should be already included in your premiums.