Term Life Insurance Rates: 47 Year Old Female Non Smoker

Did you know Term life insurance is affordable for just about everyone? How inexpensive can it be for a woman, age 47? Females live longer, so they get better rates than men! Term life rates continue to drop in recent years, as people live longer lives, health care keeps improving, and due to life insurance company competition. If you purchased a term life policy several years ago, you may now qualify for much better rates, or you can buy more coverage for what you are paying now. To illustrate the affordability of term life insurance, I am posting a blog series about insurance companies with the best rates for term life insurance at certain ages. Below are five companies with low rates for a 20 year term life insurance policy with a $200,000 death benefit, looking at 4 health categories, for a forty seven year old female non-smoker. Let me show you where you can find a good life insurance company!

Hopefully, if you have been deterred from buying life insurance because you think you can’t afford it, this article will change your mind. Even if you don’t have the extra cash to afford these rates, you can pay less by having a smaller death benefit. Life insurance can be made affordable for any budget.

My website helps you find great rates & policies for car, house, & life insurance, so bookmark or place my site in your favorites for you to use at your convenience. Paying less for your auto or home insurance can help you afford the life insurance coverage you need.

Female Age 47 Non Smoker Preferred Plus Rates

Genworth Life Insurance Company = $22.02 Per Month or $260.25 Per Year

Ohio National Life Assurance Corporation = $23.44 Per Month or $271 Per Year

Cincinnati Life Insurance Company = $24.55 Per Month or $279 Per Year

Principal National Life Insurance Company = $25.10 Per Month or $286.90 Per Year

Hartford Life & Annuity Insurance Company = $26.01 Per Month or $289 Per Year

These term life rates were calculated using a term life insurance quote comparison engine I found on the Net (Many of these quote engines are available online), and the rates, companies, or policies may not be available in your state.

The Preferred Plus health category gets you the lowest rates, & it is for folks in terrific health. So, if you’re sure you are in outstanding health — you always eat a healthy diet, exercise regularly & vigorously, and maintain a healthy body weight — these are the rates you’ll pay, right? This might not be true.

With some types of insurance, like home insurance, agents determine the price you’ll pay at the time they quote you. Applying for term life insurance works differently.

When you want to buy life insurance, a competent life insurance agent will estimate the price you should pay, based on how you answer the health questions the agent asks you. Then, you complete an application, which the agent sends to the life insurance company.

The insurance company evaluates the application, & asks for any additional information needed, like a physical exam ( A paramedic comes to your home or work, conducts a health exam, and takes your blood), to determine if they want to insure you, & the correct rate to charge you, if you are accepted.

You might expect to get the lowest possible rates when you apply. However, unknown to you, you may have a circumstance, such as being genetically predisposed to high cholesterol, so the policy will be issued at a more expensive rate, because of your physical exam results.

With car insurance, it’s not hard to shop for the best rates, & it’s simple to do it by using the Internet. With life insurance, it’s not possible to know the lowest term life insurance rates for you, before your application is given the okay by the insurance company.

The rates below show you how the insurance company with the best price changes, if you qualify for the Preferred health class, instead of Preferred Plus health class:

Female Age 47 Non Smoker Preferred Rates

Savings Bank life Insurance Company of MA = $28.01 Per Month or $322 Per Year

Genworth Life Insurance Company = $27.25 Per Month or $322.03 Per Year

Ohio National Life Assurance Corporation = $27.94 Per Month or $323 Per Year

Cincinnati Life Insurance Company = $28.95 Per Month or $329 Per Year

Principal National Life Insurance Company = $28.98 Per Month or $331.16 Per Year

Savings Bank Life Insurance company of Massachusetts has the lowest yearly premium for the Preferred class at $322. But if you applied, and your policy is issued at the Standard Plus rate, Savings Bank life is no longer the least expensive, at $420 a year for the Preferred health class. Ohio National Life Assurance Corp. has the lowest yearly premium for the Standard Plus health class, at $383. Would it have been better to have applied to Savings Bank, if you know you won’t qualify for the Preferred health class? Maybe not, because each insurance company has its own criteria for health classification placement.

For example, you may qualify for the Preferred health class with Principal National Life Insurance Company at $28.98 a month, but only the Standard Plus class with Genworth Life Insurance Company at $35.04 a month, instead of Genworth’s rates for its Preferred health class, at $27.25 a month.

Female Age 47 Non Smoker Standard Plus Rates

Ohio National Life Assurance Corporation = $33.13 Per Month or $383 Per Year

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ReliaStar Life Insurance Company (ING) = $35.88 Per Month or $410 Per Year

Principal National Life Insurance Company = $36.14 Per Month or $413 Per Year

Genworth Life Insurance Company = $35.04 Per Month or $414.36 Per Year

Savings Bank Life Insurance Company of MA = $36.54 Per Month or $420 Per Year

See how these term life insurance company’s rates for each health class are close in price to each other? There’s a greater price difference in the rates between the health classes.

For example, Ohio National is $23.44 a month for the Preferred Plus health class, $27.94 a month in the Preferred class, and $33.13 a month for the Standard Plus class, & $39.88 a month for the Standard health class.

This is why you should use an experienced agent, focused on serving your needs. You can’t find the best term life rates for you without one.

A good agent quotes you an accurate term life insurance policy at a competitive price, based on the agent’s knowledge of the underwriting criteria for each insurance company the agent represents, considering you & your family’s needs, your health, your family’s health history, and your habits.

Some agents quote everybody the lowest possible rate, even if they won’t qualify for the best price, after asking almost no questions. This type of agent wants you to apply based on low ball rates, then the agent will explain & apologize for the much higher price when the policy is issued, & try to convince you it’s the best price you can get, so you will pay it.

The rates below are for the Standard rate class. All of the rate classes reviewed in this blog post are for healthy people. What if you have a medical condition, or you are are 30 pounds over weight? A good agent knows the insurance companies with the best rates for certain health conditions, such as high blood pressure, or bigger people.

Female Age 47 Non Smoker Standard Rates

Ohio National Life Assurance Corporation = $39.88 Per Month or $461 Per Year

Genworth Life Insurance Company = $40.18 Per Month or $474.92 Per Year

Cincinnati Life Insurance Company = $43.38 Per Month or $493 Per Year

Principal National Life Insurance Company = $44.71 Per Month or $511 Per Year

Sunset Life Insurance Company of America = $44.03 Per Month or $518 Per Year

The companies shown above have competitive term life rates for this particular age, sex, & health class. But many insurance companies, some with brand names, have more expensive prices for their term life insurance. Look at the standard rates for these companies, for a woman, age 47, non-smoker:

United of Omaha Life Insurance Company (Mutual of Omaha) = $52.73 Per Month or $592.50 Per Year

TIAA-CREF Life Insurance Company = $55.94 Per Month or $639.28 Per Year

Nationwide Life & Annuity Insurance Company = $63.10 Per Month or $709 Per Year

Fidelity Life Association = $65.51 Per Month or $753 Per Year

Assurity Life Insurance Company = $77.62 Per Month or $882 Per Year

If you qualify for each insurance company’s standard term life rates, you could pay as little as $461 a year, or as much as $882 or more a year for the same $200,000 death benefit. If you are in good health, you could pay as low as $260.25 with the Preferred Plus health rating class. No single life insurance company has the lowest rates for everyone. Let experienced agents find the best rates for you.

If you want low term life insurance rates and the proper type of policy & coverage for you & your family, comparison shop with a few agents, so you can find an agent offering the best life insurance options for you at a competitive price. Term life insurance is affordable, and a good agent can make getting it an easy 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.