Understanding Life Insurance Rates From United of Omaha Life Insurance Company or Companion Life Insurance Company
Life insurance rates vary depending on factors such as: type of policy, amount of coverage, term of coverage, age, gender, tobacco use and health history. A whole life insurance policy with a high death benefit may have a higher premium rate than a term life insurance policy with a more modest death benefit. Numerous factors may impact the size of your premium payment as well.
Typical Term Life Insurance Rates
Term life insurance rates are less than a whole life insurance rates. The death benefit amount plays a large role in determining how much life insurance you will end up applying for. Keep in mind, the higher the benefit amount the higher your premium payment to be.
Some of our insurance policies feature a quick calculator that will let you know a projected premium rate based on information like age, gender, tobacco use and desired death benefit amount.
Whole Life Insurance Rates
Whole life insurance rates are typically higher than a term life policy. This is for several reasons.
A whole life insurance policy covers the insured their entire life. Unlike term, it is guaranteed that this policy will be collected as long as premium payments are made.
A whole life insurance rate also is higher because a whole life insurance policy features a cash value/investment component. Part of the premium paid goes into an investment fund that allows your policy to grow cash value throughout the time you pay for it. This money may be borrowed against and used for emergency expenditures.
Affordable Life Insurance Rates
At United of Omaha, we offer life insurance rates that are affordable and our breadth of life insurance products allows us to offer a variety of coverage types. With this flexibility, we are able to match you with a life insurance policy with a rate that fits your budget and coverage that helps protect your family. Please view our term life and whole life insurance products to learn more about the ways we may help your family avoid financial pitfalls.