Term life insurance is lower in cost now more than ever. How much is term life insurance for a man, age 46? I want to show you how term life insurance can fit any budget, so I’m writing a group of blog posts about the life insurance companies with the lowest term life rates at a selection of ages. Term life is now more affordable because of advancements in medical care, and because people are living longer lives. You should review your life insurance needs each year, to see if you still have the proper amount of coverage, & to see if you can get a better deal. If you purchased a term life policy years ago, it is likely you can get lower rates now, or you can buy a lot more coverage for what you currently pay. In this blog post, I give you 5 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 six year old male non-smoker.
Hopefully, if you’ve haven’t shopped for term life insurance because you think it’s too pricey, the information I give you in this blog post will change your mind. I’m always updating my blog & website, to help you find the best policies and prices for car, house, and life insurance.
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Male Age 46 Non Smoker Preferred Plus Rates
I figured these term life rates by using a term life insurance quote comparison engine (Many of these engines are on the Internet), and the prices, companies, or life insurance policies may not be available in your state.
The Preferred Plus health rating category offers you the best rates, & it’s for people in excellent health. So, if you are in very good health — by eating a balanced diet, getting enough exercise, & watching your weight — these will be the rates you’ll pay, right? This may not be true.
With something like motorcycle insurance, insurance companies qualify you for the price you will pay at the time you contact them for a quote, or when you start the coverage with your first payment. Qualifying & getting life insurance is a different process.
With life insurance, an agent estimates the price you should pay, based on your answers to the questions the agent asks you. The agent helps you complete your life insurance application and sends it to the insurance company for approval.
The company reviews your application, & orders other information, like your medical records, it needs to decide to insure you. The insurance company usually requires you to take a physical. A para-medic meets with you & gives you an exam, & takes a blood sample from you, All of this is needed to determine if you qualify for the insurance, & the correct rate to charge you if you are approved.
You might think you’ll qualify for the Preferred Plus rating category 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 physical exam results. You can’t be sure of the price you will pay before your application is accepted.
It’s wise to contact several agents for price quotes, rather than trying to get quotes using the Internet by yourself.
Below, please notice how the lowest-priced insurance companies change, if you qualify for the Preferred rating category, instead of the Preferred Plus category:
Male Age 46 Non Smoker Preferred Rates
Every life insurance company has its own criteria for determining your health category placement.
For example, you may qualify for the Preferred Plus rating category with Midland National Life Insurance Company at $375 a year, but only the Preferred rating category with Banner Life Insurance Company. Instead of paying $370 a year with Banner’s Preferred Plus rates, the policy is issued at $435 per year, based on the rates for Banner’s Preferred rating category. Midland National is the better deal for you. Although Banner has lower rates for its Preferred Plus rating category, you don’t qualify for the Preferred Plus category with Banner, but you do qualify for the Preferred Plus rating category with Midland National Life.
A good agent will make every effort to quote you the correct price, based on the health rating category you’ll most likely qualify for with each company. Trying to determine what you’ll pay on your own, and getting accurate term life insurance quotes by yourself, without the help of a competent agent, is very hard to do. Using an agent to buy term life insurance costs no more than getting a policy direct from the insurance company, so take advantage of the knowledge & expertise of an experienced agent.
Male Age 46 Non Smoker Standard Plus Rates
The best-priced term life insurance companies in each health rating category usually are close in price to each other. There is often a bigger difference in price between rating categories.
For example, Banner Life Insurance Company is $32.38 a month for the Preferred Plus rating category, $38.06 a month for the Preferred rating category, $50.75 a month for the Standard Plus rating category. And in the Standard rating category, Banner is $60.38 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 health rating category for which you should qualify. A good agent asks you questions, and uses their knowledge of the rate-making & eligibility criteria of the different insurance companies, to get you the best price & 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 and recommending a particular insurance company’s product.
Some agents quote everybody the rock-bottom rates, regardless if they qualify for them, after asking too few questions. Some agents want to get you as a customer by quoting you a low-ball price, then they will explain the big rate increase when the policy is issued, by telling you it’s the best price you can get, hoping you will just pay it. Chances are, had the agent quoted you the company with the best rates based on your health, you could get much better rates with another insurance company.
Below are the 5 term life insurance companies with the best rates for the Standard rating category. All of these rating categories are for healthy people. What if you have some type of medical condition, or you are overweight by thirty five pounds? A good agent knows the insurance companies with the best rates for certain health conditions, such as diabetes, or for slightly obese people.
Male Age 46 Non Smoker Standard Rates
It pays to shop with agents representing different life insurance companies. No single agent represents all of them. Listed below are 5 life insurance companies, including some big brand names, with more expensive standard term life insurance rates for a 46 year old male non-smoker:
A twenty year $250,000 term life insurance policy at standard rates can be as low as $662.50 a year, or as expensive as $962.50 or more a year. But if you are in good health, you can pay much less — as low as $365 a year for the Preferred Plus rates. Notice Metlife does not have low rates for the Standard rating category, but it was among the lowest for the Standard Plus category. This proves you really need to shop with several agents, representing all the important companies, to find the best rates for you.
Remember, if money is tight for you now, the amount of coverage — the death benefit — may be lowered to reduce the cost, so you can buy term life insurance which meets your budget. It’s good to have some coverage through your own policy, than not having any life insurance through your own policy at all. You cannot depend 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, a good policy, & 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. Everyone can afford Term life insurance, & a good agent can make buying it as easy as eating a piece of cake.
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