Variable Premium Life Insurance

Life insurance is complicated enough when you are a little older and have had at least one policy through your employment. When you are trying to figure out life insurance for the first time there are many questions you may have, such as is variable premium life insurance a good thing to have. Variable premium life insurance means that the policy is going to change. Most often with a life insurance policy your premiums get higher as you age. This is because the risk you pose to the insurance company is getting higher. It is hard to find a policy that will not change. There are many factors to deciding on the variable premium you will have as you get older.

First if you smoke, have a health problem, or other unsavory life style issues according to the insurance company policies you may have a higher premium. You may find that a company calls the variable premium, a guaranteed premium meaning that the premium will change, but you are guaranteed the insurance policy as you age. Keep in mind there are many factors for them to decide on the premium they will offer and sometimes insurance companies differ. It is best to look around as you decide on insurance.

By: Luke Ashworth