Level Term Insurance Quotes for Adults

Level Term Life Insurance Quotes for Adults

We’ve all seen the commercials where grandma buys her grandchild a $25,000 Gerber policy for $1 dollar per day.

But how much does level term insurance cost as an adult?

In this article, we’ll discuss the three types of term life insurance, as well as provide some sample quotes to give you an idea of the cost.

Quick Article Guide:

  1. The 3 Types of Term Life Insurance
  2. Term Life Sample Rates
  3. How Ratings, Age & Health Affect Term Premiums
  4. Questions? We Can Help!

The 3 Types of Term Life Insurance

Many if not most people are familiar with term insurance. But, you might be wondering what “level” term insurance means. There are actually 3 different basic types of term insurance, including:

  1. Level Term – Both the death benefits and premiums remain the same for the life of the term
  2. Decreasing Term – The death benefits decrease at stated time intervals but premium remains constant
  3. Increasing Term – Both the death benefits and premium increase at specified time intervals

Now you know and understand the difference between the different types of term policies and what “level” term insurance is all about.

But, you want to know about how much term insurance costs as you get older, so let’s jump to some quotes right away.

Sample Level Term Life Insurance Quotes

Below, we have provided sample monthly 15-year and 20-year term life quotes for non-smoking males with $250,000 of coverage, either in the “preferred plus” and “preferred” rate classes.

Sample Preferred Plus Term Life Insurance Quotes

Age15-Year Term20-Year Term
25-Year Old$10.51$12.90
30-Year Old$10.51$13.11
35-Year Old$10.71$13.67
40-Year Old$12.97$17.85
45-Year Old$22.36$27.95
50-Year Old$32.25$40.85
55-Year Old$48.34$63.43
60-Year Old$77.83$109.81

*Sample rates are provided for illustrative purposes only and are accurate as of 07/30/2018.

“Preferred plus” is highest rating you can get with a life insurance company; it’s for those in excellent health. But maybe your health is a little bit below those standards. In that case, the next rate class is “preferred,” in which the sample rates are listed below.

Samples Preferred Term Life Insurance Quotes

Age15-Year Term20-Year Term
25-Year Old$13.33$16.22
30-Year Old$13.38$16.22
35-Year Old$13.55$17.14
40-Year Old$17.20$21.93
45-Year Old$25.80$33.07
50-Year Old$39.09$48.29
55-Year Old$61.56$75.89
60-Year Old$96.96$124.91

*Sample rates are provided for illustrative purposes only and are accurate as of 07/30/2018.

How Ratings, Age and Health Affect Level Term Insurance Premiums

From the above samples, you can see from the premium trend increases that the best approach to buy a term life insurance policy is to:

  • Buy term insurance when you are younger
  • Buy because you are still in good health

Level term insurance becomes increasingly more expensive to buy as your get older. Although you might be tempted to put it off, just remember that it will cost you more as you age.

The other thing to remember is that as you age, your health begins to slip a bit as well. You might have put on few extra pounds, and start to have problems with blood pressure, cholesterol levels, and sugar levels. Even though you might exercise fairly regularly, you could still develop these higher levels or even begin to develop heart disease.

Most term life insurance policies require that you take a medical exam, which means that any decline in your health is likely going to show up in the results. Family history can also reveal whether you might be genetically inclined to inherit some health issues further down the road.

As you age and your health deteriorates, you might no longer qualify for a “preferred plus” rating. As your health deteriorates over the years, and of course that varies from person to person, you might be rated lower such as at:

  • Preferred
  • Standard Plus
  • Standard
  • Mild Substandard
  • Medium Substandard
  • Severe Substandard

With each lower rating, the cost of your premium increases.

Buy a Level Term Insurance Policy Now

As you can see, the bottom line is that you are going to pay more by procrastinating and putting off buying a policy which you’re going to need anyway. Life insurance is a long term investment, so the sooner you buy a policy when you’re healthy, the more money you’ll save down the road.

Questions? We Can Help!

we can helpAt JRC Insurance Group, we have helped thousands of families and businesses with their life insurance needs, and we can help you too! Our agency is licensed in all 50 states and we’re independently owned and operated.

As a non-partial, no-fee brokerage, our goal is match our clients with the best life insurance options available by shopping and comparing rates from more than 45 highly-rated insurers. By having access to dozens of companies and their guidelines, we’re able to save our client’s time and money.

Most importantly, our services as completely free, and there is no cost to apply for coverage. Give us a call toll-free today at 855-247-9555, or you can request a free quote online to compare rates and options from dozens of insurance companies in less than a minute.

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or (855) 247-9555

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