Typical Annual Life Insurance Premiums for Males, per $1,000 Face Value
Notes:
For semiannual premiums, use 51% of the annual rate.
For quarterly premiums, use 26% of the annual rate.
For monthly premiums, use 9% of the annual rate.
For females, use the age of a male three years younger.
Tom Hornet purchases $7,000 of ten year term life. He is 31 years old.
His annual premium is $ ?
.
His quarterly premium is $ ?
.
The difference between the two options is $ ?
.
