Term life insurance for a sixty-four year old costs more than it does for younger men in their twenties or thirties, but it’s more affordable than you may think. This blog post will show you the life insurance companies with the lowest rates for a ten year term policy for a 64 year-old man, at different amounts of coverage for four health rating classes, to help you shop for the best coverage for you & your budget.
Let us start with the lowest rates available, for individuals in excellent health, qualifying for the Preferred Plus health rate class.
$100,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Preferred Plus Rates
Ohio National Life Assurance Corporation is $42.47 a month or $491 a year.
Ameritas Life Insurance Corporation is $46.55 a month or $541 a year.
AAA Life Insurance Company is $47.96 a month or $545 a year.
$250,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Preferred Plus Rates
Savings Bank Life Insurance Co of MA is $95.70 a month or $1,100 a year.
Banner Life Insurance Company is $97.34 a month or $1,112.50 a year.
North American Company for Life and Health is $97.34 a month or $1,112.50 a year.
$500,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Preferred Plus Rates
Royal Neighbors of America is $172.51 a month or $2,070 a year.
Ohio National Life Assurance Corporation is $182.52 a month or $2,110 a year.
North American Company for Life and Health is $185.50 a month or $2,120 a year.
Not every healthy person will qualify for each company’s Preferred Plus rates. The next best health rate class is the Preferred health rate class. Here are the best rates in this category:
$100,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Preferred Rates
Ohio National Life Assurance Corporation is $51.73 a month or $598 a year.
Savings Bank Life Insurance Co of MA is $56.20 a month or $646 a year.
Ameritas Life Insurance Corporation is $56.44 a month or $656 a year.
$250,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Preferred Rates
MetLife Investors USA Insurance Company is $112.64 a month or $1,251.50 a year.
Savings Bank Life Insurance Co of MA is $112.45 a month or $1,292.50 a year.
Banner Life Insurance Company is $118.34 a month or $1,352.50 a year.
$500,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Preferred Rates
MetLife Investors USA Insurance Company is $219.06 a month or $2,434 a year.
Savings Bank Life Insurance Co of MA is $219.68 a month or $2,525 a year.
Ohio National Life Assurance Corporation is $224.90 a month or $2,600 a year.
Don’t worry about qualifying for the best health rate class. Life insurance companies have different criteria to qualify you for their health rate categories, and company rates vary greatly. Using the assistance of several good life insurance agents, representing multiple companies, will help you find the best company & price for you. Here are the best ten year term Standard Plus rates:
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$100,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Standard Plus Rates
Ohio National Life Assurance Corporation is $63.75 a month or $737 a year.
Savings Bank Life Insurance Co of MA is $65.69 a month or $755 a year.
Symetra Life Insurance Company is $72.28 a month or $826 a year.
$250,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Standard Plus Rates
MetLife Investors USA Insurance Company is $131.09 a month or $1,456.50 a year.
Savings Bank Life Insurance Co of MA is $131.15 a month or $1,507.50 a year.
Banner Life Insurance Company is $147.44 a month or $1,685 a year.
$500,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Standard Plus Rates
MetLife Investors USA Insurance Company is $255.96 a month or $2,844 a year.
Savings Bank Life Insurance Co of MA is $257.09 a month or $2,955 a year.
AXA Equitable Life Insurance Company is $279.61 a month or $3,240 a year.
Most reasonably healthy people should qualify for the Standard health rate class. Here are the insurance companies with the best 10 year term rates for the Standard health class:
$100,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Standard Rates
Ohio National Life Assurance Corporation is $73.53 a month or $850 a year.
Savings Bank Life Insurance Co of MA is $77.26 a month or $888 a year.
Banner Life Insurance Company is $79.98 a month or $914 a year.
$250,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Standard Rates
Banner Life Insurance Company is $171.94 a month or $1,965 a year.
Primerica Life Insurance Company is $191.19 a month or $2,012.50 a year. (Annual premium is one of the best, but not if you are paying monthly)
Ohio National Life Assurance Corporation is $175.38 a month or $2,027.50 a year.
$500,000 10 year Term Life Insurance Policy for a 64 Year Old Male Non Smoker at Standard Rates
AXA Equitable Life Insurance Company is $315.52 a month or $3,660 a year.
Royal Neighbors of America is $281.27 a month or $3,375 a year
Ohio National Life Assurance Corporation is $330 a month or $3,815 a year.
Rates for term life insurance for a sixty-four year-old man vary a lot from life insurance company to company. With the information in this blog post, if you are quoted 10 year term life insurance, regardless of the health category for which you qualify, you will know if the rates you are quoted are competitive.
As you can see, the cost for a large amount of coverage can be a sizable monthly bill. When you are in your sixties, and pay a lot for term life insurance, you will find it might be more affordable, or make more sense, to buy a combination of term and permanent life insurance. Term insurance is a lot less expensive when you are young, but when you are older, the cost between term & permanent life insurance can be about the same.
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.
How much life insurance does a man at age 64 need? Tell me your thoughts. Comment on my facebook page. If you have questions and would like my help, you can reach me at help@smartshopyourcarinsurance.com. Follow me on Twitter for important insurance consumer news & new blog entries at CarInsWatch.