Term life insurance is lower in price now more than ever. How much can term life insurance be for a man, age 45? I want to show you how term life insurance can fit any body’s budget, so I’m writing a group of blog articles about the insurance companies with the lowest term life rates at a selection of ages. Term life continues to become more affordable because of advancements in medical health care, and because people are living longer lives. You should review your life insurance needs every year, to see if you still have the enough coverage, & if you can get a better deal. If you purchased a term life policy a few years ago, it is likely you can get a lower price now, or you can buy more coverage for what you currently pay. In this blog post, I tell you about the five insurance companies with the lowest rates for a 20 year term life insurance policy with a $250,000 death benefit, for 4 different health rate classes, for a forty five year old male non-smoker.
Hopefully, if you haven’t shopped around for term life insurance because you think it’s too pricey, the information I provide you in this blog post will change your mind. I’m always updating my blog & website, to help you find the best policies & prices for car, house, 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 45 Non Smoker Preferred Plus Rates
I got these term life rates by using a term life insurance quote comparison engine (Many of these engines can be found on the Internet), & the prices, companies, or life insurance policies may not be available in your state.
The Preferred Plus rate class offers you the best rates, & it is for people in outstanding health. So, if you’re in very good health — by eating a balanced diet, getting plenty of exercise, & watching your weight — these will be the rates you’ll pay, right? This may not always be true.
With something like vehicle insurance, insurance companies qualify you for the rate you will pay at the time you contact them for a price quote. Qualifying to buy life insurance is a different process.
With life insurance, an agent figures the price you should pay, based on your answers to the questions the agent asks you. The agent helps you complete & submit your life insurance application to the insurance company for approval.
The company reviews your application, & gets other information, like your medical records, it needs to decide to insure you. The insurance company requires you to take a physical exam. A paramedic meets with you & gives you a physical, & takes a blood sample from you. The insurance company uses all the information it gathers about you to determine if you qualify for their life insurance, & the correct rate to charge you if you are approved.
You might expect you’ll qualify for the Preferred Plus rate class at the time you send in your application. However, it may be revealed by the physical exam, you are genetically predisposed to higher cholesterol than the typical very fit person. Your term life insurance policy will be issued at a higher price, because of the exam results. You cannot be sure of the price you will pay before your application is approved.
It’s wise to contact several agents for life insurance quotes, rather than trying to get quotes using the Web by yourself.
Below, please observe how the lowest priced insurance companies change, if you qualify for the Preferred rate class, instead of the Preferred Plus rate class:
Male Age 45 Non Smoker Preferred Rates
Every life insurance company has its own guidelines for determining your health rate class placement.
For example, you may qualify for the Preferred Plus rate class with American General Life Insurance Company at $349 a year, but only the Preferred rate class with Banner Life Insurance Company. Instead of paying $340 a year with Banner’s Preferred Plus rate class, the policy is issued at $402.50 per year, based on the prices for Banner’s Preferred rate class. American General Life Insurance Company is the better deal for you. Although Banner has lower prices for its Preferred Plus rate class, you don’t qualify for the Preferred Plus rate class with Banner, but you do qualify for the Preferred Plus rate class with American General.
A good agent will make every effort to quote you the correct term life insurance rate you should be offered, based on the rate class you will most likely qualify for with each insurance company. Trying to determine what you’ll pay on your own, & getting accurate term life insurance quotes by yourself, without the help of a competent agent, is very difficult. Using an agent to buy term life insurance costs no more than purchasing a policy direct from a life insurance company. Why not take advantage of the knowledge & expertise of an experienced agent?
Male Age 45 Non Smoker Standard Plus Rates
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The best priced term life insurance companies in each rate class usually are close in price to each other. There is often a larger difference in price between rate classes.
For example, Banner Life is $29.75 a month for the Preferred Plus rate class, $35.22 a month for the Preferred rate class, $47.03 a month for the Standard Plus rate class. In the Standard rate class, Banner Life is $56.22 a month, which is too expensive to make the list of the 5 best-priced insurance companies.
When choosing an agent, look for one who does their best to give you an accurate term life quote, based on the rate class for which you should qualify. A good agent asks you questions, & uses their knowledge of the rate making & eligibility criteria of the life insurance companies they represent, to find you the best price and coverage. You can recognize a good agent because they consider you, your needs, your health, your family’s health history, & your habits. when quoting you & recommending a particular insurance company’s product.
Some agents quote everyone rock-bottom rates, regardless if the customer qualifies for them, after asking too few questions.
Some agents try to get you as a customer by quoting you a low ball price, then they’ll explain the big rate increase when the policy is issued, by telling you it’s the best price you can get, hoping you’ll just pay it. Chances are, had the agent quoted you the life insurance company with the best rates for you based on your health, you could’ve found much better rates with another company.
Below are five life insurance companies with the best prices for the Standard rate class. All of these rate classes are for healthy people. What if you have some type of medical condition, or you are overweight by thirty or so pounds? A good agent knows the life insurance companies with the best rates for certain health conditions, such as diabetes, or for people with a few — or more than a few — extra pounds.
Male Age 45 Non Smoker Standard Rates
It pays to shop around with several agents representing different life insurance companies. No single agent represents every major insurance company. Listed below are five life insurance companies, including some big brand names, with higher priced Standard term life insurance rates for a 45 year old male non-smoker:
A twenty year $250,000 term life insurance policy at Standard rates can be as low as $600 a year, or as expensive as $912.50 or more a year. If you are in great health, your rates could be as low as $337.50 a year for the Preferred Plus rate class.
Remember, if cash is tight for you now, the amount of coverage — the death benefit — may be lowered to bring down the price, so you can purchase term life insurance which meets your budget. It is good to have some coverage through your own policy, than not having any life insurance through your own policy at all. You cannot rely on your life insurance through work to be there for you and your family when you really need it.
If you want low term life insurance rates, the proper amount of coverage for you, & a smooth process buying it, comparison shop with a few agents, so you can find the best agent for you, offering the life insurance options you need at a competitive price. Everybody can afford Term life insurance, & a good agent can make buying it as easy as a piece of cake.
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.