| Basic Rate on $100,000 loan |
|
Re-issue Rate on $100,000 loan
|
| Rates per unit of insurance: |
 |
Rates per unit of insurance: |
| $0 to $30,000 |
$420.00 |
 |
$0 to $30,000 |
$378.00 |
| Add per $1,000 |
|
 |
Add per $1,000 |
|
| $30,001 to $45,000 |
$ 7.25 |
 |
$30,001 to $45,000 |
$ 6.53 |
| $45,001 to $100,000 |
$ 6.00 |
 |
$45,001 to $100,000 |
$ 5.40 |
| $100,001 to $500,000 |
$ 5.00 |
 |
$100,001 to $500,000 |
$ 4.50 |
| $500,001 to $1,000,000 |
$ 3.75 |
 |
$500,001 to $1,000,000 |
$ 3.38 |
| Example: |
|
|
Example: |
|
| First $30,000 of Loan Value |
$420.00 |
|
First $30,000 of Loan Value |
$378.00 |
| |
|
|
|
|
| First $30,000 of Loan Value |
$420.00 |
|
First $30,000 of Loan Value |
$378.00 |
| |
|
|
|
|
| Next $15,000 x .001 x 7.25 |
$108.75 |
|
Next $15,000 x .001 x 6.53 |
$97.88 |
| ($45,000 - $30,000) |
|
|
|
|
| |
|
|
|
|
| Next $55,000 x .001 x 6.00 |
$330.00 |
|
Next $55,000 x .001 x 5.40 |
$297.00 |
| ($100,000 - $45,000) |
|
|
($100,000 - $45,000) |
|
| |
|
|
|
|
| Total: |
$858.75 |
|
Total: |
$772.88 | |