Page 49 - The Informed Fed--Hearn Wealth Management

A list of prices per thousand dollars of insurance coverage (rates
effective as of January 1, 2019) is listed below. As you can see the cost

rises dramatically at age 50 and beyond.

Under 35 $0.02 $0.043
35 39 $0.03 $0.065
40-49 $0.08 $0.152

50-54 $0.13 $0.238
55-59 $0.23 $0.433

60-64 $0.52 $0.953
65-69 $0.62 $1.170

70-74 $1.14 $2.080
75-79 $1.80 $3.900

80 and over $2.40 $5.72

increase very quickly until age 50, and then things get very costly, very
fast. The reason they increase is because the employee did not have to

take a physical to get this additional coverage. The only thing the
insurance company knows about you is your age, so that is the basis they
use to increase coverage. As you get older, you are more likely to pass

away so they charge you more.
*Special Note: You want to look for life insurance in the private
sector, which could be more cost effective and offer more benefits.

Almost any insurance plan you find in the private sector will provide a
level death benefit and level premiums as well. For example, using rates

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