Abrasax
Guru
- 399
With MoO, a 43 year old can get a $100,000 CI 30 yr CI policy with no riders for around $200/mo.
It seems anyone wanting this feature will get all of it and more for much less from a TLE policy which has a the CI rider included along with the Terminal and Chronic. After the actuarial discount and the additional insurance you would need since the ADB only advances 80% of the DB, the TLE policy needs to be around $150,000 for the same $100,000 ADB but it's still far cheaper to just get the life policy.
A female n/s of the same age will pay 77/mo for a 30 yr TLE. A male smoker will pay only 165. Both significantly less than the CI on its own.
Is this due to the fact that the TLE policy has more underwriting or something else? I'm just trying to understand how this works as it seems this might make a good selling point for just writing the TLE to cover MP, CI, and Chronic Illness benefits.
Or is there something in the CI plan that you're not getting with the rider?
It seems anyone wanting this feature will get all of it and more for much less from a TLE policy which has a the CI rider included along with the Terminal and Chronic. After the actuarial discount and the additional insurance you would need since the ADB only advances 80% of the DB, the TLE policy needs to be around $150,000 for the same $100,000 ADB but it's still far cheaper to just get the life policy.
A female n/s of the same age will pay 77/mo for a 30 yr TLE. A male smoker will pay only 165. Both significantly less than the CI on its own.
Is this due to the fact that the TLE policy has more underwriting or something else? I'm just trying to understand how this works as it seems this might make a good selling point for just writing the TLE to cover MP, CI, and Chronic Illness benefits.
Or is there something in the CI plan that you're not getting with the rider?