Term life insurance is affordable, even if you are a 58 year old man. To fit your budget, you can decrease the amount of the death benefit, or reduce the number of years for the term, to make a life insurance policy affordable for you. This blog post shows you the lowest rates for a 10 year term life policy & a 15 year term life policy, for different health rate classes. This information will help you know if you are getting a low price when you shop for life insurance. For example, an agent quotes you an insurance company with a ten year term life policy at Standard rates, you can check the rates here for the lowest 10 year term Standard rates, to see if the agent is offering you a good deal.
Please be careful: any agent can quote you the lowest rates, with the rates going sky high when your policy is issued. A good agent will ask you questions about your health, any prescriptions you may be taking, and your family’s health history, to make sure you qualify for the rates the agent quotes you. Regardless of the health rate category you may qualify for with each life insurance company, the information here should tell you if it’s a competitive price, or if you should keep shopping with other insurance agents.
Here are examples of the lowest rates (Preferred Plus) for a 10 year term policy, at various amounts of coverage:
$100,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Plus Rates
Ohio National Life Assurance Corporation is $24.05 a month or $278 a year.
$250,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Plus Rates
Savings Bank Life Insurance Co of MA is $51.55 a month or $592.50 a year.
$500,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Plus Rates
Ohio National Life Assurance Corporation is $96.45 a month or $1,115 a year.
The Preferred Plus rates shown above are for people in the best health, and not every healthy person will qualify for them. A good agent will make sure you qualify for them before quoting you and selling you a policy. Most life insurance companies have 4 health rate classes for non-smokers: Preferred Plus, Preferred, Standard Plus, & Standard rates.
Below are the lowest rates for a 10 year term life insurance policy for the other three health rate classes. If you are greatly overweight, or if you have a chronic medical condition, you might have to pay a higher table rating, but most healthy people should qualify for at least the Standard health class rates.
You may have health problems, like many middle-aged people, but the good news is an experienced insurance agent may be able to find an insurance company willing to insure you at their Standard rates, even if you have a chronic health condition, like high blood pressure, so it pays to comparison shop with several agents to see what they can offer you.
Here are the lowest 10 year term Preferred rates:
$100,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Rates
Ohio National Life Assurance Corporation is $28.72 a month or $332 a year.
$250,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Rates
Savings Bank Life Insurance Co of MA is $60.47 a month or $695 a year.
$500,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Rates
Lincoln National Life Insurance Company is $117.93 a month or $1,325 a year.
Here are the lowest 10 year term Standard Plus rates:
$100,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Plus Rates
Ohio National Life Assurance Corporation is $36.42 a month or $421 a year.
$250,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Plus Rates
Savings Bank Life Insurance Co of MA is $64.82 a month or $745 a year.
$500,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Plus Rates
Savings Bank Life Insurance Co of MA is $124.41 a month or $1,430 a year.
Here are the lowest 10 year term life prices for the Standard health rate class:
$100,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Rates
Ohio National Life Assurance Corporation is $42.90 a month or $496 a year.
$250,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Rates
Primerica Life Insurance Company is $100.23 a month or $1,055 a year.
$500,000 10 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Rates
Primerica Life Insurance Company is $184.78 a month or $1,945 a year.
Now, let’s look at the four health rate classes for a fifteen year term life policy.
Here are the lowest 15 year term life insurance Preferred Plus rates:
$100,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Plus Rates
Cincinnati Life Insurance Company is $33.09 a month or $376 a year.
$250,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Plus Rates
Savings Bank Life Insurance Company of MA is $66.77 a month or $767.50 a year.
$500,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Plus Rates
Ohio National Life Assurance Corporation is $126.72 a month or $1,465 a year.
Here are the best Preferred rates:
$100,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Rates
Cincinnati Life Insurance Company is $40.39 a month or $459 a year.
$250,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Rates
Savings Bank Life Insurance Co of MA is $83.09 a month or $955 a year.
$500,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Preferred Rates
Savings Bank Life Insurance Co of MA is $160.95 a month or $1,850 a year.
Here are the Standard Plus rates:
$100,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Plus Rates
Ohio National Life Assurance Corporation is $48.87 a month or $565 a year.
$250,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Plus Rates
Savings Bank Life Insurance Co of MA is $104.84 a month or $1,205 a year.
$500,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Plus Rates
Ohio National Life Assurance Corporation is $199.38 a month or $2,305 a year.
Here are the 15 year term life Standard rates:
$100,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Rates
Savings Bank Life Insurance Company of MA is $54.46 a month or $626 a year.
$250,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Rates
Savings Bank Life Insurance Company of MA is $124.63 a month or $1,432.50 a year.
$500,000 15 year Term Life Insurance Policy for a 58 Year Old Male Non Smoker at Standard Rates
Savings Bank Life Insurance Company of MA is $244.04 a month or $2,805 a year.
The range of rates for term life insurance for a 58 year old man vary greatly, from very affordable for most people, to the size of a monthly car payment, depending on how long you want the coverage, and the dollar amount of the death benefit you desire.
Shop for the best deal you can buy, so you can have the most coverage at the best price for you. Saving money on car insurance can give you more money in your budget for life insurance. Do not put off saving money or buying the insurance you need. Start shopping now.
How much life insurance at age 58 does a man need? 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.
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