Government Benefits

Articles and tutorials on each of the government-sponsored health and welfare programs offered to Canadian residents at a federal and provincial level

Group Benefits

Articles and tutorials covering the full range of group benefits available to employers in Canada including Life, Disability, Medical, and Dental

Legislative Updates

Current and historical legislative changes affecting group benefits and their implications on Canadian employers

Marketing

Detailed information on the marketing and sales distribution of group benefit programs in Canada including insurers, agents, brokers, and consultants

Underwriting/Admin

Detailed information on the pricing, underwriting/funding, and administration options and services available to employers

Home » FAQ's

How To Calculate Monthly Life Insurance Premium

Life insurance is expressed as a rate per $1,000 of insurance.  To calculate Life Insurance premium you take the benefit volume per $1,000 of coverage multiplied by the monthly rate.  For example, to calculate the monthly premium based on a 2x annual earnings (assume $40,000) schedule and a rate of $0.12 per $1,000 of coverage per month, the calculation is:

Benefit Volume * Rate / $1,000 = Monthly premium

$80,000 * 0.12 / $1,000 = $9.60

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.