Term Life Insurance Rates: 38 Year Old Female Non Smoker

Term life insurance is affordable for every body’s budget. How affordable can it be for a woman, age 38? Term life insurance rates continue to reduce in price, as people live longer lives, medical care gets better, & through the competition among life insurance companies. If you bought term life insurance some years ago, you probably now can get a much better price, or you can buy a larger death benefit for what you are paying now. To show you how low term life insurance can be for most people, I’m writing about the companies with low term life rates at certain ages, for four different health rate classes. See below for the five companies with the best rates for a 20 year term life insurance policy with a $350,000 death benefit, for a thirty-eight year old female non-smoker.

Hopefully, if you have not thought about buying life insurance because you think it’s too expensive, this article will change your mind about it. If you don’t have the money now to afford these low rates, you can still pay less by selecting a smaller death benefit. Life insurance can fit any budget.

The purpose of my website is to help you find great rates & policies for auto, property (home, renters), & life insurance, so bookmark or place my site in your favorites, for you to use at your convenience. Saving more on your auto or home insurance may help you afford to buy the life insurance coverage you need.

Female Age 38 Non Smoker Preferred Plus Rates

Ohio National Life Assurance Corporation = $17.93 Per Month or $201.50 Per Year

Savings Bank Life Insurance Company of Massachusetts = $17.70 Per Month or $203.50 Per Year

Banner Life Insurance Company = $18.24 Per Month or $208.50 Per Year

Cincinnati Life Insurance Company = $19.54 Per Month or $222 Per Year

Hartford Life & Annuity Insurance Company = $20.48 Per Month or $227.50 Per Year

I determined the term life insurance rates in this blog post using a term life insurance quote comparison engine — lots of term life quote engines are available on the Internet — and the rates, companies, or policies may not be available in your state.

The Preferred Plus class has the best rates, and it’s for people in the best health. So, if you’re sure you are in perfect health — you eat right, exercise daily, and watch your weight — these are the prices you will pay, right? This may not be what happens when your life insurance policy is accepted & issued.

When you buy some types of insurance, like automobile insurance, agents determine the price you’ll pay when they quote you. Applying for life insurance works differently.

When you apply for life insurance, agents estimate the price you should pay, based on your answers to the health questions the agents ask you. An agent helps you complete the life insurance application, which the agent sends in to the insurance company for approval.

The insurance company evaluates the application, & asks for any additional information needed, like medical records, or a physical exam. An appointment is set for a paramedic to visit you at your home or work, give you a physical, & take your blood. All of this is needed to determine if the company wants to approve your application, and confirm the proper rate to charge you, if you are accepted.

You may anticipate qualifying for the lowest price when you apply. However, unknown to you, it’s determined you are genetically inclined to have higher cholesterol than a normal, very healthy person. This discovery causes your life insurance policy to be issued at a more expensive price, because of the results of your physical exam.

When it comes to buying term life insurance, it is not possible to be absolutely certain of the price you will pay before your application is accepted by the life insurance company.

The rates below show you how the life insurance companies with the lowest prices change, if you qualify for the Preferred class, instead of the Preferred Plus class:

Female Age 38 Non Smoker Preferred Rates

Savings Bank life Insurance Company of Massachusetts = $19.84 Per Month or $228 Per Year

Ohio National Life Assurance Corporation = $23.23 Per Month or $261 Per Year

Banner Life Insurance Company = $23.45 Per Month or $268 Per Year

Genworth Life Insurance Company = $23.41 Per Month or $276.60 Per Year

American General Life Insurance Company = $24.89 Per Month or $284.50 Per Year

Ohio National Life Assurance Corp. has the lowest yearly premium for the Preferred Plus class, at $201.50. But if you applied, and your policy is issued at the Preferred class instead, Ohio National is no longer the least expensive, at $261 a year for the Preferred class. Savings Bank Life Insurance Company of Massachusetts has the lowest annual premium for the Preferred class, at $228. Would it be better to apply to Savings Bank Life, if you know you’ll not qualify for the Preferred Plus class? Maybe not, since each insurance company has its own rules for placing you in a health rate class.

For example, you may qualify for the Preferred Plus class with Hartford Life & Annuity Insurance Company at $227.50 a year, but only the Preferred class with Banner Life Insurance Company, at $268 a year, instead of Banner’s Preferred Plus class at $208.50 a year.

Female Age 38 Non Smoker Standard Plus Rates

Savings Bank Life Insurance Company of Massachusetts = $28.36 Per Month or $326 Per Year

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Ohio National Life Assurance Corporation = $29.46 Per Month or $331 Per Year

Genworth Life Insurance Company = $28.78 Per Month or $340.24 Per Year

Banner Life Insurance Company = $29.88 Per Month or $341.50 Per Year

ReliaStar Life Insurance Company (ING) = $30.45 Per Month or $348 Per Year

See how the lowest-priced insurance companies for each rate class are close in price to each other? There’s a greater price difference in the rates among the classes.

For example, Ohio National Life Insurance is $17.93 a month for the Preferred Plus class, $23.23 a month for the Preferred class, $29.46 a month for the Standard Plus class, & $36.94 a month for the Standard class.

This is why it’s wise to select an experienced agent, focused on serving your needs. A good agent asks you questions, and works to give you an accurate term life insurance quote at a competitive price, based on the agent’s knowledge of the underwriting guidelines for the life insurance company(ies) the agent represents. A good agent asks about you & your family’s needs, values & goals, your health, your family’s health history, and your habits.

Beware of agents quoting everyone the lowest possible price, after asking too few questions. This type of agent wants to sell you a policy based on a low ball price. When your life insurance policy is issued by the company, at the price you actually qualify for, the agent will explain & apologize for the much higher price, & try to convince you it’s the best rate you can get, so you will pay it.

See below for the best- priced companies for the Standard class. All of the rate classes discussed in this blog post are for healthy people. What if you have a medical condition, or you’re thirty-five pounds over weight? A good agent knows the insurance companies with the best prices for certain health conditions, such as diabetes, or people with a few extra pounds — or more.

Female Age 38 Non Smoker Standard Rates

Ohio National Life Assurance Corporation = $36.94 Per Month or $415 Per Year

Savings Bank Life Insurance Company of MA = $36.28 Per Month or $417 Per Year

Minnesota Life Insurance Company = $37.00 Per Month or $420.50 Per Year

Protective Life Insurance Company = $35.75 Per Month or $423.72 Per Year

ReliaStar Life Insurance Company (ING) = $37.19 Per Month or $425 Per Year

The companies shown above have competitive term life rates for this particular death benefit amount, age, sex, & rating class. But many insurance companies, some are big brand names, have expensive rates for their term life insurance. See below the rates for the standard class for some of these more expensive companies, for a woman, age 38, non-smoker:

Hartford Life & Annuity Insurance Company = $39.38 Per Month or $437.50 Per Year

Columbus Life Insurance Company = $39.36 Per Month or $463 Per Year

Metlife Investors USA Insurance Company = $45.27 Per Month or $503 Per Year

Household Life Insurance Company = $51.80 Per Month or $555 Per Year

Stonebridge Life Insurance Company = $52.54 Per Month or $600.50 Per Year

If you’re in great health, you may pay as little as $201.50 a year if you qualify for the Preferred Plus class. If you qualify only for each life insurance company’s Standard class, you could pay as little as $415 a year, or as much as $600.50 or more a year for the same $350,000 death benefit. No single life insurance company has the best prices for everybody.

If you want great term life insurance rates, & the right type of coverage for you & your family, comparison shop with a few agents, so you can find an agent offering you the best life insurance options at a competitive price. Everyone can afford term life insurance, & a good agent can make getting it a simple process 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.