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There are several factors that generally determine the premiums of life insurance. When considering just the premium dollars as the determining cost, the following factors are relevant.

• The size of the death benefit. Generally, the larger the death benefit, the costlier the premium.
• Age. Generally, the older the insured is, the costlier the premium.
• The insured health. Generally, the better the health of the insured, the less costly will be the premium.
• Lifestyle. The more hazardous the lifestyle, the costlier the premium. This is in part due to the insured being a tobacco user or not, and other lifestyle practices.
• Gender. Because females generally have a favorable mortality rating, the male will have a costlier premium than females.
• The type of policy. The term policy will have a lower cost premium than the permanent policy.
These are some of the generally accepted factors that determine the premium paid for life insurance. If you have additional questions, or if you would like to receive a complimentary and confidential insurance review – call me at (210) 383-3687.

While this list is not an exhaustive list, it does represent commonly accepted factors that will impact one in retirement, and therefore should be considered when saving for retirement.

• Amount of contribution to retirement savings
• Time to contribute to retirement savings
• Interest rate accredited to retirement saving
• Fees paid from the retirement savings
• Volatility. Frequency and depth of losses (if relevant) and the recovery time in gain
• Inflation
• Tax obligation during accumulation and at distribution
• The health and contribution of one’s social security in income in retirement
• Dedication to a retirement goal (s)
If you have additional questions, or if you would like to start your retirement savings – call me at (210) 680-0149.

Let me suggest you examine at least a few areas when determining the insurance company you will want to help you financially protect what is important to you.

• I suggest you look at the third-party rating of the company. Third-party rating companies serve to help consumers better understand the financial health of the insurance company, and answer a fundamental question, “will this company be able to keep their promises to their policy-holders?” An accepted authority in rating insurance companies is A.M. Best. Generally, an A category rating is quite acceptable.
• I also encourage you to look at the number of years the insurance company has been in business. The company’s history will allow you to get a look at how they perform under varying circumstances such as the national economic ups and downs, wars, political leadership, and other national milestones.
• Consider the actual insurance service and product being presented to you. Will the service and the insurance product aid you in achieving your financial goals and objectives?
If you have additional questions, or if you would like to receive a complimentary and confidential insurance review – call me at (210) 383-3687. I look forward to being of help to you, and will do my best.