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.
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.
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.
|Sex||10 Year||20 Year||30 Year|
|Male||Protective - $46.26/month||SBLI - $80.91/month||Transamerica - $180.69/month|
|Female||Protective - $34.30/month||SBLI - $59.60/month||Transamerica - $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.
What is Term Life Insurance?
A 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.