Life Insurance Quotes



Life Insurance At Age 55

Life Insurance for FamilyIf you are shopping for life insurance at age 55, then you are probably concerned about leaving a financial burden on your loved ones. Most shoppers look for life insurance in their fifties so that they can lock in a low rate while they are still in good health. This is a wise decision because as you get older, you may develop health concerns that make it much more difficult to obtain affordable coverage. Learn more about your options and do a rate comparison from several highly rated carriers.

Your Options for Coverage In Your Fifties

You have two basic options for coverage in your fifties - term life insurance and permanent life insurance. Term life insurance is temporary coverage that can last anywhere from one year or as long as 30 years, depending on the company that you choose. Term is very affordable coverage because you can get a lot of coverage for a very reasonable premium. Unlike term insurance, permanent life insurance will last you for your entire lifetime, as long as you continue to pay your premiums. Your policy will also accumulate cash value on a tax-deferred basis. Whole life and universal life are the 2 most common permanent coverage options.

Sample Rates to Give You an Estimage

So how much is life insurance coverage at 55 years old? Here are a few sample rates to give you an estimate of what a policy might cost you at this a. These are based on a non-smoker with a preferred health rating. Your rate could be lower or higher depending on your situation.

$200,000 20 Year Term Life Insurance:

55 Year Old Male - $1215 per year
55 Year Old Female - $843 per year

$50,000 Level Pay Whole Life Insurance:

55 Year Old Male - $1254 per year
55 Year Old Female - $1045 per year

Keep in mind that the actual rate that you will pay is going to depend on several variables such as your smoking status, your health history, your family health history, your occupation and hobbies, and even your driving history. Life insurance companies look at all of these things when determining your eligibility for a policy.

What to Know if Your Health Is Not Perfect

Although most 55 year olds are in pretty good health, there are some who have pre-existing health conditions from childhood or other things that have developed over the years. In most cases, you can still get affordable rates for life insurance with a few health issues. The type of policy that you can qualify for and the rate you pay will depend on what that particular health concern is. For example, if you have type 2 diabetes, then some insurers will offer you a standard rate if your condition is well controlled. If you have some heart problems or instances of a past heart attack or stroke, then you may only qualify for a policy with a two year waiting period. It is best to speak with an experienced agent about your particular health situation because he or she can guide you towards the best carrier for your needs.

Get A Quote Today and Compare Multiple Rates

The first step when shopping for coverage in your fifties or at any age is to shop around. Whether you need a temporary policy for a certain number of years or if you want something permanent that will be there for the remainder of your life, it is very important to compare quotes from several different companies. This is because rates can vary by as much as 70% from one carrier to another depending on your age, your health, your smoking status, and even your driving record. Get started today by comparing multiple rates from several companies. It takes less than a minute to get closer to peace of mind in knowing that your family is protected.

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