So how much does life insurance cost at age 70? Well, there are several factors that play a part in the rate you pay for life insurance.The first is which type of life insurance you choose- whole life or term life. After that, the biggest factor in your lifeinsurance cost is age. The older you are, the more life insurance costs. Other factors to consider are health issues, family health history, smoking status, occupation, hobbies,and your driving history. If you choose a whole life insurance policy, then your premiums will be fixed and level for the rest of your life. There are many carriers that offer simplified issue life insurance policies so there is no medical exam. They are affordable and fairly easy to qualify for. If you want a term life insurance policy, then you should know that most carriers will only allow up to a 15 year term policy at 70 years old. That means you’ll have life insurance coverage until you are 85.
Here are some example quotes to give you an idea of how much you might pay for life insurance at age 70. These rates are based on a preferred health rating for a non-smoker.
$25,000 Whole Life Insurance
Male: $170.11 per month
Female: $124.36 per month
$100,000 Term Life Insurance- 15 year term
Male: $1635 per year
Female: $972 per year
These rates are meant to be examples only. If you are looking for life insurance at age 70 then be sure to get a free quote today to find out how much your rate is.
Related Posts:
