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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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No-load life insurance

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.

Q: What is the advantage of a no-load life insurance policy and how much does it cost get one?

A: Traditional life insurance policies pay a sales commission equal to about one year's premium. No-load insurance policies do not include this commission expense, so they are less expensive. That is really the only difference. In some cases a traditional insurance company includes a "surrender charge" if you discontinue your policy. No-load policies no not include a surrender charge. There is no charge for a no-load insurance policy except for the cost of insurance premium itself. Most people use an accountant or non-commissioned financial adviser to help select and apply for a policy so this will add few hundred dollars to the cost. But overall, this is still a great way to save on the cost of life insurance. The net savings for a typical individual life insurance policy are about $1,000.00 but could be much larger for business policies.

Summary

More resources:

www.wealthmanangement.us.com