is it good to invest in variable life insurance?

Coach B. data shows that a $35-year-old male with no complex health problems would pay $517 per month for a $500,000 life insurance policy. While you might pay less for the first few years of a modified whole-life policy, you will pay more over time.

ABC Insurance Company is an excellent example of how to ensure people with diabetes. They also offer rock-bottom rates. This is how their underwriting works.

XYZ insurance doesn't seem to like people with diabetes. They might refuse to cover them or charge them higher prices.

Even though the differences may seem insignificant, they can immediately impact your finances. Although you won't lose much cash value over the two years, a more extended introductory period can cause you to fall behind. This will leave you without any critical policy features and cost five to fifteen times as much to obtain similar coverage under a term-life policy.

You are committing to higher premiums within a few years, regardless of your ability to afford them.

But, you might be able to get better, cheaper policies that offer partial or complete coverage for the first two-year period.

XYZ, an insurance company, isn't too fond of people with diabetes. They may refuse to pay them or charge higher prices.

If diabetes is a problem, your wallet and family will not appreciate XYZ because they'll refuse to treat you or charge you much more than ABC.

The bad: Two significant drawbacks are the waiting periods and the premiums. These plans will accept applicants with serious health issues. Insurance companies take on significant risks because of this. Because of this, premiums are more expensive than non-modified Policies, and there is a waiting period for the death benefit to pay out.