Life Insurance At Age 57 – Choosing the Best Policy

by Jeff Rose on November 3, 2016 · 0 comments

life insurance at age 57

Regardless of where you are in life, chances are life insurance can provide some kind of benefit to your life.
A person of age 57 most likely has different priorities than that of a person of another age,  but there is still a valid reason for having a quality insurance policy

When it comes to insurance, there are multiple factors that must be brought into consideration before deciding on a particular type of life insurance.

What Do you Need?

As a 57 year old you are hopefully either already retired or are close to retirement. Additionally, your family most likely isn’t as dependent on you as your children are (hopefully) out of the house.  If you have fewer people, or nobody, dependent on your annual salary, you may think that you don’t need life insurance anymore, but this isn’t the only purpose for life insurance. Even if your kids have finally moved out of the basement, you still need protection for your family

Regardless, you probably still have liabilities and most likely still have the desire to provide for your family. It is for this reason that life insurance is so important.

It provides the peace of mind that your family will be cared for in the event of some kind of misfortune.

What are the going rates of life insurance at age 57?

The rates that are quoted depend on a number of factors aside from your health. Most likely though if you are a non-smoker and can prove that you have a clean bill of health, you most likely will be eligible for a Preferred Plus rate.

Many life insurance providers will perform a medical exam as well as obtain a history of your medical records before offering final quote.

Sex10 Year20 Year30 Year
MaleProtective - $46.26/monthSBLI - $80.91/monthTransamerica - $180.69/month
FemaleProtective - $34.30/monthSBLI - $59.60/monthTransamerica - $126.88/month

At age 57 you hopefully have no medical ailments, but this most likely will not be the case forever. It is easy to fall in the mindset that you will always be healthy, but the fact of the matter is that life happens, and it is not always in pleasant form.

Life insurance comes into play by offsetting these misfortunes and offering peace of mind.

What Type of Insurance Does a 57 Year Old Need?

Although some people may consider it late in the game to start shopping for life insurance, the fact of the matter is that it is never too late. In fact, the sooner, the better as rates start to increase with age.

Depending on where you are in life, the type of insurance that you may need varies. It is often times a good idea to consult the advice of an experienced life insurance agent who can help steer you towards the right insurance.

In most cases, a term life insurance policy is going to be the best option, because they allow you to decide how much longer you’ll need coverage. There might be a time in the next 10 or 20 years where you no longer need life insurance, which is why term insurance is so handy.

What is Term Life Insurance?

A cheap term life insurance policy is appealing for many ages, but particularly for someone at age 57. In addition to being affordable, it offers a large degree of protection against of number of different scenarios.

Term life insurance is offered for several different spans of time that could very well cover a 57 year old until death. If you are unsure of what exact coverage you need, do not hesitate to seek the advice of a life insurance agent.

They will most likely save you time and money in the short and long term that you may have otherwise lost by going about it on your own.  Unlike a traditional insurance agent, independent agents don’t just represent one single company, we represent dozens of the most highly rated insurance companies across the United States. Instead of you having to call all of the companies yourself, we can bring all of the lowest quotes directly to you. Contact our agents or simply fill out the quote form with your information, and you can get the best rates from reputable companies.

Working with an independent agent isn’t the only way that you can get cheap term life insurance. There are several other things that you can do to keep some extra cash in your pocket.

The first is to focus on your health and start using that dusty gym membership that you’ve had for years. Unless you choose a no medical exam policy, you’ll be required to complete a short health physical before you are accepted for coverage. The results from the medical exam are going to impact how much you pay for coverage. Put simply, the better health you’re in, the less you pay for life insurance. If you want to save money, cut back on the junk food and start hitting the gym. Your doctor and bank account will both thank you.

Similarly, you’ll need to quit smoking or using chewing tobacco. Being listed as a smoker on your insurance application is going to cause your premiums to double automatically, regardless of how the rest of your health is. If you want to save as much money as possible on your coverage, you’ll need to kick the cigarettes. Smoking is one of the worst things that you can do for your insurance rates.

The last thing you should do is make sure that you’re getting the right amount of coverage. It’s a delicate balance trying to get the perfect amount of coverage, but if you purchase too much life insurance, you’ll be tossing away money. Sure, it’s better to have too much than too little, but it could also mean you’re spending way more on monthly premiums.

Getting Personalize Life Insurance Quotes

If you are getting standard life insurance quotes over 50 then you will see some wide variance in the premium costs.  The key is to work with an agent that knows the market and can shop for the best life insurance for your needs.

To start the process of getting your personalized quotes you can use the form on this page to get your first set of term life insurance quotes and then an agent will be happy to work with you to help you find the right policy for your needs.  Or you can bypass the form and talk directly to an agent by calling 1- 888-836-7071.  No matter how many questions you have we are here to help you get them answered and feel comfortable with your life insurance decision.

We are dedicated to ensuring that you get the perfect insurance policy to fit your needs. One of the worst things that you can do for your family is to not have life insurance. Your family could be left with thousands and thousands of dollars of debt, and not have the money they need to pay those bills. It can make a difficult situation that much worse.

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Life Insurance At Age 57 - Choosing the Best Policy
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Selecting the best life insurance at age 57 is not that hard. You might think that at that age you will get higher rates. Talk to us, we will give you the best options.
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