Term life insurance is less expensive than ever. How inexpensive can term life be for a man, age 33? To show you how low prices can be now, I’m doing a blog series showing the insurance companies with the lowest term life rates at various ages. Term life is lower in cost today because of advancements in health care, & because we continue to live longer lives. You should review your life insurance needs with your agent each year. If you started a term life policy several years ago, it’s likely you’ll get lower rates now, or you can get much more coverage for what you currently pay. I list in this blog post five insurance companies with the low rates for a 20 year term life insurance policy with a $500,000 death benefit, over 4 health classes, for a thirty three year old male non-smoker.
Hopefully, if you’ve been reluctant to shop for term life insurance because you think it’s too expensive, the information in this blog post will change your mind about it. I am always updating my blog & website, to give you important information to find the best policies and prices for car, home, and life insurance.
Bookmark or place my website in your favorites, so you can use it the next time you have a question about insurance.
Male Age 33 Non Smoker Preferred Plus Rates
I calculated these term life rates by using a term life insurance quote comparison engine ( There are many of these engines on the Web), and the rates, companies, or life insurance policies may not be available in your state.
The Preferred Plus rates offer the best rates, and they are for the healthiest people. So, if you are in excellent health — you eat right, exercise regularly, and maintain a healthy body weight — these are the prices you’ll pay, right? This may not be the case.
With auto & home insurance, agents qualify you for the price you’ll pay at the time you contact them for a quote, & start the coverage with your first payment. Qualifying & buying life insurance is a different process.
With life insurance, a good agent will determine the price you should pay, based on the answers to the health questions the agent asks you. Then, the agent helps you complete the application. Once completed, the agent submits the application to the insurance company for acceptance.
The company reviews your application, orders additional information, like your medical records, & a paramedical exam (a paramedic meets with you & gives you a physical, & takes a blood sample), to determine if you qualify for a policy, & the proper rate to charge you if you are approved.
You may expect you will qualify for the Preferred Plus rates at the time of application. But, for example, you may be genetically predisposed to higher cholesterol than a normal, very fit person. Your term life policy will be issued at a higher price, due to the paramedic exam results.
With auto & home insurance, it isn’t difficult to shop based on price. With life insurance, you really can’t be sure of the rates you’ll pay before your application is approved. It’s smart to contact a few agents for price quotes, rather than trying to get quotes using the Internet by yourself.
Below, you can see how the competitive positions change for the insurance companies, if you qualify for Preferred rates, instead of Preferred Plus rates:
Male Age 33 Non Smoker Preferred Rates
See how Banner, at $335 annually, has the lowest premium for the Preferred health rate class? But if you applied, and your policy is issued at the Standard Plus class, Banner no longer has the lowest yearly premium. Savings Bank Life Insurance of MA has the best price, at $395 a year, for the Standard Plus health rates. Banner costs $415 a year at the Standard Plus rates.
Would it have been better for you to have applied to Savings Bank instead of Banner, when you don’t think you’ll qualify for the Preferred health class? Maybe not, because each insurance company has its own rules for determining your health class placement.
For example, you may qualify for Preferred Plus health class with Cincinnati Life Insurance Company at $260 a year, but only the Preferred health class with Ohio National. Instead of paying $255 for Ohio National’s Preferred Plus rates, the policy is issued at the $345 annual premium, based on Ohio National’s Preferred health class rates. Cincinnati is the better deal for you, even though Ohio National has a lower Preferred Plus rate, because you don’t qualify for Preferred Plus health class with Ohio National, but you do qualify for the Preferred Plus health class with Cincinnati.
A good agent will try to quote you accurately, based on the health class you most likely qualify for with each company. Trying to figure out what you’ll pay on your own, & getting accurate term life insurance price quotes by yourself, without the help of a competent agent, is really difficult. Using an agent to buy term life insurance costs no more than buying direct from the company, so take advantage of the expertise of a good agent.
Male Age 33 Non Smoker Standard Plus Rates
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The least expensive term life insurance companies in each health category usually have rates close in price to each other, but there’s often a bigger difference in price between health rate classes.
For example, Banner is $21.88 a month in the Preferred Plus category, $29.31 a month for the Preferred class, $36.31 a month for the Standard Plus class. For the Standard class, Banner is $48.56 a month, which is too expensive to make the list of the 5 lowest priced insurance companies.
Do you see why it’s a good idea to use an experienced life insurance agent? Find an agent willing to work for you, because you can’t find the best prices for your term life insurance without one. This is the opposite of my advice about shopping for auto insurance, where it’s not difficult to shop for accurate price quotes & find the best rates on your own.
A good agent gives you an accurate term life quote, based on the health category for which you should qualify, at a competitive price. A good agent asks you questions, & uses their knowledge of the rate-making & eligibility criteria used by the insurance companies, to get you the best price & coverage. A good agent considers you, your needs, your health, your family’s health history, & your habits. when quoting you an accurate price, and recommending an insurance company’s product.
A bad agent quotes everyone the lowest possible rate, regardless if they are can qualify for the lowest rate, after asking too few questions. Some agents want to get your business by quoting you the lowest price, then they will explain & apologize for the much higher rate when the policy is issued, hoping you will just pay it.
Below are the term life rates for the Standard health class. All four of these health categories are for healthy people. What if you have a some type of medical condition, or you are over-weight by twenty-five pounds? A good agent knows the insurance companies with the best rates for certain health conditions, such as hypertension, or for heavy-set people.
Male Age 33 Non Smoker Standard Rates
It pays to shop with several agents representing different companies. No one agent represents them all. Listed below are 5 life insurance companies, including some very well-known, with more expensive standard term life insurance rates for a 33 year old male non-smoker:
A 20 year term life insurance policy at standard rates can be as low as $460 a year or as expensive as $690 or more a year. Remember, if money is really tight for you now, the amount of coverage — the death benefit — can be reduced, so you can get term life insurance which meets your budget. It’s better to have some coverage through your own policy, than not having any life insurance coverage through you own policy at all. You can’t count on your life insurance through work to be there for your family when you need it.
If you want low term life insurance rates, a good policy, and a smooth process getting the coverage you need, comparison shop with several agents, so you can find a good agent offering the best life insurance options for you at a competitive price. Term life insurance is affordable, & a good agent can make getting it easy for you.
Have you looked at term life insurance rates lately? Why not? Tell me about it. Please leave a comment on my facebook page. Or, you can e-mail me at help@smartshopyourcarinsurance.com if you have questions and would like my help. Follow me on Twitter for important insurance consumer news and new blog entries at CarInsWatch.