William L. HUNGATE (D-MO-House): Mr. Speaker, the State of Pennsylvania is taking what may be a leader’s role in analyzing State insurance problems.
The following article should be of interest to all who purchase life insurance:
A national shopper’s guide for life insurance shows that some major companies charge more than twice as much as others for similar policies, and that some of the best known firms charge the most for coverage.
NP – Variation in Surety Cost Charges Can Double From Firm to Firm, By Bob Woodward
A national shopper’s guide for life insurance shows that some major companies charge more than twice as much as others for similar policies, and that some of the best known firms charge the most for coverage.
Among the life insurance firms doing business in the Washington area, for example, average annual cost for the same $10,000 straight life policy from Connecticut Mutual Life is $22.40 compared to $53.10 a year from Travelers Insurance Co.
This means that over 20 years it takes to pay off such a policy, the Counnecticut Mutual subscriber would pay $448, compared to $1,062 paid by a subscriber of Travelers. (p25109)