Best Life Insurance Rates for 52 Year Olds [Top Tips for Savings & More]
Looking for the best life insurance companies with the lowest rates? The best life insurance rates for 52 year olds can vary significantly. The best company will depend you which one will look at your specific health and situation the best.
When you’re shopping for affordable life insurance in your 50s make sure you understand best practices. We’ll go over what you need to know in order to get the best policy available.
Best Life Insurance Rates for 52 Year Olds
There can be a 70% difference! How old you are is just one factor. Life insurance rates by age can vary significantly from each life insurance company.
If you also have a preexisting health condition that can make a significant difference too.
What do William Shakespeare, Christopher Reeve, Roy Orbison and Harry Houdini all have in common? They all passed away at the age of 52.
Underwriting life insurance is not standardized.
What does that exactly mean? Every life insurance carrier will use their own specific underwriting guides to get your rate.
This is actually a good thing for the smart shopper.
It means that every life insurance carrier has the potential to be a niche selection where they can provide the best rate.
Life Insurance Rates at Age 52
*Example Life Insurance Rates. The following life insurance rates for 52 year olds are sample rates. The life insurance rates were researched and based on a 20 year term and $500,000 death benefit. These are non-smoker rates and calculated with a “Preferred” health class rating.
$500,000 20 Year Term Life Insurance Quote
Your actual quote may be higher or lower based on a variety of underwriting factors. Factors such as health, medication, driving history, occupation, hobbies, family history and lifestyle will affect your actual rate. For example, if you smoke you’ll pay more. If you’re getting fit after 50, you’ll probably pay less.
- A 51 Year Old Female will have a monthly premium of $81.16
- A 51 Year Old Male will have a monthly premium of $111.87
Want additional rates? Use our Free Quoter on this page to get an Instant Life Insurance Quote.
What are some of the best term life companies for a 52 year old?
Finding and applying with the life insurance company can be quite the task. Proper research is needed to find the best fit for you. Your agent will be searching life insurance companies based on your present health, your health history including family history, as well as height and weight. It will also depend on your the amount of coverage and the length of your term. LifeInsuranceBlog can help you figure out which life insurance company would be best for you based on these variables.
The life insurance companies below generally have the cheapest rates and best term coverage for the 52 year olds.
Life Insurance – Buy Now or Later?
There hasn’t been a better time to buy life insurance then now. Current term life insurance prices are the lowest in quite some time.
Because you are in your 50s, you shouldn’t have any troubles getting an affordable life insurance policy.
It’s very important to the life insurance buyer that you understand that each life insurance company will view your lifestyle, health, and age the differently.
At FE Insurance Agency, we don’t rush to give you a quote you won’t qualify for. This is what the big call centers do every day.
Now that you’re 52 years young and searching for a life insurance policy – you most likely have questions.
This post will go over permanent & term life insurance options. You will be provided term life sample quotes and go over the differences with medical and no medical exam life insurance.
You’ll also get feedback on some of the top insurance carriers for the 50’s age group.
If you want to learn more and gain a full overview of the options available to you, read on to discover just how much you should expect to pay for life insurance in your 50’s for a variety of situations.
Life Insurance At Age 52
Purchasing term life insurance at age 52 typically will not be to a difficult thing.
Life insurance continually gets less expensive due to people living longer, advancements in medicine and life insurance competition.
With that said, when looking for the best life insurance rates by age, you need to be aware of 3 things prior to putting in an application.
- Am I choosing the best term life insurance policy at age 52?
- Should I get a policy that requires a Medical Exam or a No Exam policy?
- Is there a benefit with shopping directly with the insurance company?
Choosing the best term life insurance policy at age 52?
15 and 30 term life insurance policies are very popular.
However, these term lengths might not be a good choice for you.
Start by asking what is the reason for this life insurance policy? There are clients that select 10 year term because they are close to paying off their mortgage. Or some of them have children that are almost done with college (which was paid for). A 30 year term life insurance policy is also very common.
It just depends on the needs of your family.
- What if you have a large amount left on your mortgage?
- Will your salary be difficult to replace if you were to pass away?
- Will your life insurance policy be needed to help pay for your children’s college?
These decisions are vital to what term length and amount that you select.
If you need assistance, we’d be happy to help you.
We’ll provide you all of your options and will absolutely help you make the proper decision for your family and you- but it’s ultimately your decision.
Guaranteed Universal Life insurance
Maybe a term life insurance policy isn’t the right choice.
You may have goals that require other types of coverage.
Perhaps you’re needing life insurance that will not expire.
Guaranteed Universal Life insurance would be an excellent options. It would provide coverage to a specified age. GUL policies can be bought to cover you to age 90 or all the way up to age 121.
This option is excellent for consumers that need reassurance knowing they’ll always be covered.
Should I get a policy that requires a Medical Exam or a No Exam policy?
When buying a term life insurance policy with a medical exam, you’ll go through a medical exam.
This is the traditional way people buy life insurance coverage. Are you buying life insurance for the first time? You might feel that this is your only option, but there are non medical exam options.
Your typical life insurance medical exam gathers the following details:
- Blood Pressure
- Blood Sample
- Urine Sample
You need to think of the paramedical exam as a yearly physical.
The results of the exam are sent to the life insurance company that you applied with.
There is no cost involved on your end.
It is paid for by either your Agent or the Life Insurance carrier.
We’re jumping ahead a little, so let’s back up just a bit.
Before to you put in your life insurance application and complete your medical exam, your agent has to gather as many details about your current and past health and lifestyle.
Good life insurance agents will ask you thorough questions in order to provide you accurate quotes.
As a life insurance shopper, you’ll want to make sure you are working with an agent who is asking you about your health and lifestyle. If you’ve had any health issues, took medications, or have any risky issues – Your quote will not be accurate unless your agent is aware.
Applying to the wrong life insurance company based on wrong information will be a disaster.
Now let’s fast forward to the medical exam results.
The life insurance company analyzes the medical exam results and also your past medical history (Physician notes, medication history, MVR reports, etc.).
Unless something pops up in your medical exam or health history, your original quote should be accurate.
Now, what if something does pop up on the medical exam or health history?
You are more than likely going to have an increase in your premium if an offer is provided. The life insurance company may even deny you a policy altogether.
The Benefit of No Exam Life Insurance
There are people who don’t want a medical exam for a variety of reasons.
Some prefer the convenience and speed of a No Medical Exam life insurance policy. Some people hate the idea of needles. Regardless of the reason, No Medical Life Insurance policies typically have a much shorter application and underwriting process.
They typically consist of a list of medical questions, a medication database check, and a motor vehicle report.
Medical vs. Non Medical Insurance Rates for a 52 Year Old
If you are interested in comparing the rates for no medical vs medical life insurance, use our free online quoters to compare.
COMPANY TIPS: While Transamerica and American National often have the best rates for no medical exam life insurance, they do take longer to approve than companies Sagicor and Fidelity.
Transamerica and American National will not require an exam, however they will request your records from your doctor.
Because of this approval will usually take about 3-4 weeks, as opposed to Sagicor which can approve you within 15 minutes to 48 hours, and Fidelity which approves within 24 hours.
If you need to get a policy quickly – for example for collateral for a loan or before flying on a plane, go with Fidelity Life or Sagicor – and we can help you apply.
Should I buy directly from the life insurance company?
It can actually be a detriment.
That’s the short answer. Here’s the long answer.
Each life insurance company will submit their life insurance rates for approval to each state’s insurance department. The life insurance company will come up with their rates before they submit them. Once they are approved, they must sell the policy at that rate.
You will not get a different rate based on where you purchase the policy.
So when you apply with a company directly, you are subjecting yourself to that company’s underwriting rules.
How are you going to know if you’re receiving the best rate on the market if you use only one company?
You won’t. This is especially true if you have a health condition, use a certain medication, or have something that may effect underwriting.
The most effective way to secure the best term life insurance rate is by working through an independent life insurance agent.
Independent life insurance agents work with multiple companies – not just one.
At FE Insurance Agency, we work with over 60 top rated term and whole life insurance companies.
We do this to make sure we give our clients the best chance of life insurance coverage at the most affordable rates.
This is the only sure way to secure coverage at the best price.
Compare Life Insurance Rates & Get a Quote
Be sure to shop around when buying term life insurance. No matter what your situation is, remember to always work with an independent insurance agent when buying life insurance. Life insurance rates can vary up to 70% depending on the company!
At FE Insurance Agency, we represent multiple life insurance companies (more than 60). You can get started today. Start now by comparing multiple life insurance rates on our website.
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