Life Insurance Rates by Age

So you probably came across this article while trying to find some information on life insurance rates by age. Sadly, life insurance is not like wine it does not get better with time. As you grow older your life insurance rates do increase because you are statistically closer to death, as gruesome as that sounds. However, it is never too late to buy life insurance! Life insurance is a must-do in every household because you don’t want to leave the financial burden of death to your loved ones. In this article today we will be going over life insurance rate at age 30, life insurance rates at age 40, life insurance rates at age 50, life insurance for people who are 50, life insurance for people who ar 60, and life insurance rates for people who are 70 or older. The following are some key points from this article;

  1. The good thing about being 30 is that you are still considered young and that means that getting life insurance will be easy and inexpensive.
  2. For most 30-year olds, life insurance will never be cheaper than it is today. For example, if you a 35-year old in perfect health and want to buy a $250,000 20-year term life insurance policy you are looking at about $14 a month.
  3. As a 40-year old individual, things are still looking pretty good for you. As long as you’re healthy and live a healthy lifestyle you will not have a hard time finding life insurance, just know that the rates are slightly different than rates of a 30-year old.
  4. For example, if you are a healthy individual who is 45-years old and looking for a face amount of $250,000 you are looking at premiums around $17.
  5. You are 50 and looking for some life insurance the good news is that it is never too late to get life insurance! Of course, your rates would be higher than those of a 30 or 40-year olds with amazing health because as you turn 50 you can’t help but see some health concerns, it’s inevitable.
  6. f you are a 50-year-old healthy individual and are looking for a 20-year term length with a face amount of $250,000 you are looking at $42.58 monthly.
  7. So you are probably reading this wondering if it’s too late to get life insurance at age 60. The good news is that it literally is never too late to get life insurance!
  8. If you are healthy and don’t smoke and want a $500,000 face amount for 10-years you are looking at for women $989 and for men $1,476 (annually).
  9. The good news about being 70 and above is that you are around to see your grandchildren and seeing your children love them dearly, but you are realizing more and more that you need to buy a life insurance policy because you don’t want them to have to worry about all the financial burden that can be caused after your death. Plus, it’s never too late to buy life insurance, just don’t expect your life insurance rate to be the same as a 30-year old.

Life Insurance Rates at age 30

If you are reading this little excerpt then you probably had an epiphany and realized that getting life insurance right now is super important and you are totally right! The good thing about being 30 is that you are still considered young and that means that getting life insurance will be easy and inexpensive. You are probably either just beginning to have children or you already have your set of children and probably just bought a house or are about to buy a house. You are probably pretty healthy but nothing in life is guaranteed. For most 30-year olds, life insurance will never be cheaper than it is today. For example, if you a 35-year old in perfect health and want to buy a $250,000 20-year term life insurance policy you are looking at about $14 a month. Every year you wait your rates will increase for instance, as a 35-year old healthy individual with a face amount of $250,000 for 20-years you are looking at about $26.

If you decide to take out a life insurance policy through your employer or you already have a policy with them just know that life insurance through your employer may not always be the best option available because your job is not guaranteed and it may be better for you to purchase your own policy. We recommend while you are young and in good health today to lock in a life insurance policy with coverage for your entire life because as you age your rates will increase after a term life policy expires so take the stress out of your life and get a permanent life insurance policy while you can!

Life Insurance Rate at age 40

As a 40-year old individual, things are still looking pretty good for you. As long as you’re healthy and live a healthy lifestyle you will not have a hard time finding life insurance, just know that the rates are slightly different than rates of a 30-year old. Now that you are 40 years old you probably are starting to realize that your kids are getting older and your house is getting bigger which means that your life insurance needs have changed as well. The bad news is that because you are older now your rates will reflect that because statistics show that after your 40’s people suffer from more accidents or diseases such as heart attacks and more, sadly. However, the good news is like we said before that your quotes will still look better than of those 50 and older. For example, if you are a healthy individual who is 45-years old and looking for a face amount of $250,000 you are looking at premiums around $17. Just remember that you will never be younger than today so today is the best time to buy life insurance!

Life insurance Rates at age 50

You are 50 and looking for some life insurance the good news is that it is never too late to get life insurance! Of course, your rates would be higher than those of a 30 or 40-year olds with amazing health because as you turn 50 you can’t help but see some health concerns, it’s inevitable. Just try to remember if you have developed a health condition you should be aware of the fact that every company treats a particular health concern differently and some may be lenient but others may deny you for something like diabetes. You are probably looking into life insurance at 50 because you realized you want to make sure you provide income replacement because either you or your spouse are still working and if something happens you want to leave a death benefit. Or maybe you want to simply leave something to your family such as an inheritance.

Since you are now 50 you need to also understand that picking a term life insurance policy may be hard for you depending on the company of course. This can become difficult because if you are looking for a 30-year term life insurance policy it may be impossible for some companies because they have a maximum age of getting a 30-year term life insurance policy and the max age for most companies is 55. As an individual 50 or older you should look into the future further than 10 years because if you are 55 today and you buy a 10-year term policy, since it’s cheaper, once your 10-year term policy expires you will be 65 and out looking for life insurance again and your options will be limited. If you are a 50-year-old healthy individual and are looking for a 20-year term length with a face amount of $250,000 you are looking at $42.58 monthly. Remember that you will not get any younger tomorrow and that today will be the cheapest time to buy a life insurance policy.

Life Insurance Rate at age 60

So you are probably reading this wondering if it’s too late to get life insurance at age 60. The good news is that it literally is never too late to get life insurance! Maybe you realized recently that you need life insurance because your kids are grown and maybe have kids of their own (your grandchildren) and suddenly you figured out how important it is for you to get life insurance for their sake. The last thing they need to worry about is the expenses that follow after your death. Funeral costs thousands of dollars and can really strain a burden on your loved ones financially. If you are a healthy 60 and above year old then your options are very wide. If you are healthy and don’t smoke and want a $500,000 face amount for 10-years you are looking at for women $989 and for men $1,476 (annually). However, as you age you cannot help it but your health deteriorates, and it’s more common to have an accident or developed health conditions. That is why life insurance companies rate you pretty high for term life insurance unless your health is exactly how they want it to be. If you are one of the people with bad health then you should consider looking into getting a no medical exam policy or a guaranteed issue policy. If you suffer from heart problems and it’s a recurring problem then you should look into final expense insurance which provides your loved ones with enough money to cover all the expenses that follow your death. There is no better time like today to get yourself a life insurance policy and don’t feel bummed out either because there are still a lot of options available for you as a 60-year old. You don’t grow younger so like we said, today will be the cheapest time to buy life insurance. Don’t wait until tomorrow, take a couple seconds and fill out our

However, as you age you cannot help it but your health deteriorates, and it’s more common to have an accident or developed health conditions. That is why life insurance companies rate you pretty high for term life insurance unless your health is exactly how they want it to be. If you are one of the people with bad health then you should consider looking into getting a no medical exam policy or a guaranteed issue policy. If you suffer from heart problems and it’s a recurring problem then you should look into final expense insurance which provides your loved ones with enough money to cover all the expenses that follow your death. There is no better time like today to get yourself a life insurance policy and don’t feel bummed out either because there are still a lot of options available for you as a 60-year old. You don’t grow younger so like we said, today will be the cheapest time to buy life insurance. Don’t wait until tomorrow, take a couple seconds and fill out our quoter below to have an idea of what you could be looking at as premiums.

Life Insurance Rate at age 70 and above

The good news about being 70 and above is that you are around to see your grandchildren and seeing your children love them dearly, but you are realizing more and more that you need to buy a life insurance policy because you don’t want them to have to worry about all the financial burden that can be caused after your death. Plus, it’s never too late to buy life insurance, just don’t expect your life insurance rate to be the same as a 30-year old. If you are a healthy individual with no health problems and have lived a very healthy lifestyle then you will be getting the best possible rates available for this age! You can buy a term life policy as a healthy individual or even a whole life insurance policy.

However, everyone’s health deteriorates as one ages, and if you consider yourself in bad health don’t panic because you still have options on the table. You can look into a guaranteed issue policy which does not require you to have a medical exam whatsoever. You can also look into a final expense policy which is designed to cover the bills that your loved ones will face after your death. This includes medical bills and funeral expenses which can cost thousands of dollars. The top nine best life insurance companies for seniors are as follows;

  1. AIG
  2. Sagicor
  3. Principal
  4. Prudential
  5. Metlife
  6. North American Company
  7. Phoenix
  8. United Home Life
  9. Mutual of Omaha

Final Thoughts

In conclusion, we believe anyone can get a life insurance policy regardless of age whether term, whole, guaranteed issue, or final expense insurance. Just keep in mind that depending on your age your rates will change. So like we said before, you are not getting younger, therefore, there is no time better like today! Feel free to use our quoter below to compare quotes from top rated companies just to ensure you are getting the best possible rate. You can also give us a call and use our free service, we are an independent life insurance agency here to do all the shopping for you. We work with over 60 top “A” rated companies and have a big selection to choose the best life insurance company for you! Don’t hesitate┬áto give us a call or leave a comment below.

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About Mack Dudayev

Mack is owner and life insurance expert at InsureChance. On a mission to create a way everyone can understand, afford and attain the right life insurance coverage to protect their financial responsibilities.

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