Common life insurance fees
Cost of insurance
This is the actual cost of having insurance protection. It’s based on your age, gender, health and death benefit amount. This fee is usually charged once a month.
Premium loads/sales charges
These charges compensate us for sales expenses and state and local taxes. Charges are deducted from your premium payment before it is applied to the policy.
These fees are used to pay the costs of maintaining the policy, including accounting and recordkeeping. Administration fees usually are deducted from your policy value once a month.
Monthly per thousand charge
This charge is based on your age, gender and underwriting classification. This charge is assessed monthly.
This charge is deducted from your cash value if you surrender (terminate) your policy during your surrender charge period. Be sure to check the length of your surrender charge period when evaluating a policy to buy.
Mortality and expense risk charge
When we issue a policy, we estimate you’ll live to a certain age based on your current age, gender and health. A mortality & expense charge compensates us if you don’t live to the estimated age. This charge is generally charged once a month.
Fund management fees
These fees compensate the fund managers for their work. Fund management fees are usually deducted from the price paid for the shares of underlying fund options, and not directly from your cash value.
How to buy long-term care coverage
You need to work with an insurance professional to buy this type of product. If you don't have one, our life insurance specialists are here to help.
Give us a call today at 1-855-863-9639 for a no-obligation consultation.