This is how the costs of term life insurance for couples are structured
The amount of premiums for term life insurance depends on a number of factors. One of the crucial parameters is the entry age of the policyholder. Younger people generally pay lower premiums than older people because the risk of premature death is statistically lower for younger people. It may therefore be cheaper to take out term life insurance at a younger age.
Another important factor is the state of health of the insured person. People who are in good health and have no previous illnesses usually benefit from cheaper premiums. Many insurance companies require a health screening or at least a detailed questionnaire to determine the applicant’s risk profile.
The chosen sum insured also directly influences the amount of the premiums. A higher sum insured means a larger payout in the event of death, which is why higher premiums apply.
The professional group and hobbies can also play a role. People who work in high-risk jobs or engage in dangerous recreational activities may face higher premiums because the risk of premature death is often considered higher in these cases.
It is also important to take into account that contributions may vary depending on the payment mode. Some policies offer discounts for annual payments, while others allow monthly, quarterly or semi-annual payments.
Finally, you should remember not to consider costs alone when comparing offers and in the decision-making process. Low premiums are certainly attractive, but the creditworthiness of the insurance company, the conditions of the policy and the scope of protection should also be taken into account.