Term life insurance at age sixty-two costs more than it does when you are in your twenties or thirties, but it’s more affordable than you may think. This blog post will show you the companies with the lowest rates for a ten-year term life insurance policy for a 62 year old man, at different amounts of coverage across four health rating categories, to help you shop for the right coverage for you & your budget.
Let’s start with the lowest rates available, for individuals in excellent health, whom qualify for the Preferred Plus health rate category.
$100,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Preferred Plus Rates
Cincinnati Life Insurance Company is $36.61 a month or $416 a year.
Ohio National Life Assurance Corporation is $38.75 a month or $448 a year.
TIAA-CREF Life Insurance Company is $41.27 a month or $471.71 a year.
$250,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Preferred Plus Rates
Cincinnati Life Insurance Company is $81.62 a month or $927.50 a year.
Illinois Mutual Life Insurance Company is $81.84 a month or $930 a year.
Pruco Life Insurance Company (Prudential) is $87.30 a month or $970 a year.
$500,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Preferred Plus Rates
Cincinnati Life Insurance Company is $156.64 a month or $1,780 a year.
Royal Neighbors of America is $151.26 a month or $1,815 a year.
Illinois Mutual Life Insurance Company is $161.48 a month or $1,835 a year.
Not all healthy people will qualify for each company’s Preferred Plus rates. The next best health rating class is the Preferred health rate category. Here are the best rates in this category:
$100,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Preferred Rates
Cincinnati Life Insurance Company is $42.68 a month or $485 a year.
Ohio National Life Assurance Corporation is $46.88 a month or $542 a year.
Savings Bank Life Insurance Co of MA is $49.24 a month or $566 a year.
$250,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Preferred Rates
Cincinnati Life Insurance Company is $96.80 a month or $1,100 a year.
MetLife Investors USA Insurance Company is $101.61 a month or $1,129 a year.
Savings Bank Life Insurance Co of MA is $99.18 a month or $1,140 a year.
$500,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Preferred Rates
Cincinnati Life Insurance Company is $187 a month or $2,125 a year.
MetLife Investors USA Insurance Company is $197.01 a month or $2,189 a year.
Pruco Life Insurance Company (Prudential) is $198.45 a month or $2,205 a year.
Don’t worry about being placed in the best health rate class. Life insurance companies have different criteria to qualify for their health rate categories, and company rates vary greatly. Using the assistance of a few good life insurance agents, representing multiple companies, will help you find the best company & price for you. Here are the best 10-year term Standard Plus rates:
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$100,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Standard Plus Rates
Cincinnati Life Insurance Company is $54.47 a month or $619 a year.
Ohio National Life Assurance Corporation is $58.30 a month or $674 a year.
Savings Bank Life Insurance Co of MA is $60.12 a month or $691 a year.
$250,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Standard Plus Rates
Savings Bank Life Insurance Co of MA is $110.71 a month or $1,272.50 a year.
MetLife Investors USA Insurance Company is $117.14 a month or $1,301.50 a year.
Illinois Mutual Life Insurance Company is $123.42 a month or $1,402.50 a year.
$500,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Standard Plus Rates
Savings Bank Life Insurance Co of MA is $216.20 a month or $2,485 a year.
MetLife Investors USA Insurance Company is $228.06 a month or $2,534 a year.
Illinois Mutual Life Insurance Company is $245.08 a month or $2,785 a year.
Most healthy people should qualify for the Standard health rates. Here are the life insurance companies with best 10-year term life prices for the Standard health rate class:
$100,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Standard Rates
Cincinnati Life Insurance Company is $62.57 a month or $711 a year.
Ohio National Life Assurance Corporation is $67.47 a month or $780 a year.
Savings Bank Life Insurance Co of MA is $69.43 a month or $798 a year.
$250,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Standard Rates
Cincinnati Life Insurance Company is $146.52 a month or $1,665 a year.
Primerica Life Insurance Company is $165.54 a month or $1,742.50 a year.
TIAA-CREF Life Insurance Company is $153.25 a month or $1,751.45 a year.
$500,000 10 year Term Life Insurance Policy for a 62 Year Old Male Non Smoker at Standard Rates
Royal Neighbors of America is $263.77 a month or $3,165 a year.
Cincinnati Life Insurance Company is $286.44 a month or $3,255 a year.
Primerica Life Insurance Company is $309.23 a month or $3,255 a year.
Rates for a ten year term life insurance policy for a 62 year old man vary a lot from company to company. With the information in this blog post, if you are quoted a life insurance policy, regardless of the health category for which you qualify, you will know if the rates you are quoted are competitive.
Shop for the best price you can buy, so you can have the most coverage at the best rates for you. Saving cash on automobile 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 does a male at age 62 need? Please leave a comment on my facebook page. Or, 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.