Term Life Insurance Rates for Men

by Jeff Rose on November 17, 2016 · 2 comments

I have a newsflash for you fellas – you are not Superman. Even more reason why life insurance for men is very important.  If someone would suffer financially if you died, you most likely need life insurance. You being able to protect your family financially is a great peace of mind if something were to happen to you.

term life insurance quotes men

Imagine if you were to pass away (fun thought, right), would your family be left with thousands of dollars of debt? How would the replace your salary? More than likely, they would struggle financially if anything tragic were to happen to you. Luckily, that’s where a life insurance policy comes in.

This post will take a closer look at the term life insurance rates for men and reinforce why you need to buy life insurance today.

Why Does Life Insurance Cost More For Men?

Life insurance is mainly priced by mortality tables. These tables will show the average life expectancy for your gender and age. If you smoke, participate in dangerous activities, or have health problems, this will also affect you mortality rate. The biggest reason that life insurance cost more for men is that men have a shorter life expectancy compared to women. Recent studies have shown that women outlive men by an average of five years.

This is due to a big delay, or advantage that women have over men. Women develop problems with cardiovascular disease, such as heart attack or stroke, later in life than men. Women tend to develop these problems in their 70s and 80s, where men develop them in their 50s and 60s.

What Can Affect The Premium I Pay For Insurance?

Smoking is one habit that will cost you big. Studies show that smokers are more likely to die from health conditions caused by smoking. Because the chances of dying from smoking-related causes is so prevalent, many life insurance companies in the U.S. charger higher rates to compensate them for the added risk of extending a policy. Insurance companies also take in to consideration how much you smoke. Someone that only smokes two or three times a day is likely to pay a lower premium than someone who smokes multiple packs a day.

In fact, smokers tend to pay twice as much for life insurance versus what a non-smoker is going to pay. With some companies, you could pay triple compared to someone who doesn’t smoke. If you’ve wanted to quit, just imagine the thousands of dollars that quitting will save you on your life insurance coverage. That should be enough motivation.

Note: Are you a smoker? Here’s some information on life insurance rates for smokers.

Your mental health is considered a big part of your overall health. Not all types of mental illness are considered a risk. Insurance companies want to make sure that you are taking care of the problem. Insurance companies are generally most concerned if your condition will affect your life expectancy and make you a high death risk. Some depressions are viewed as a risk factor, because they have a higher risk for suicide.

Aside from mental health, the insurance company is going to want a picture of your overall physical health, which is play a huge role in determining how much of a risk you are to insure. The more risk, the higher your monthly premiums. After you complete the initial paperwork, you’ll be required to undergo a medical exam (unless you choose a no medical exam policy, which is going to be much more expensive). During this medical exam, the company is going to be interesting in looking at your blood pressure, weight, heart rate, and they will also collect a blood sample and urine sample.

The better the results from the medical exam, the better rates that you get. If you’re looking to save money on your insurance policy, it’s time that you improved your health through a healthy diet and regular exercise. Both of these will help you lose weight, lower your blood pressure, and lower your heart rate. All of these are going to translate into lower monthly premiums, which means more money in your pocket.

Your driving record not only affects your auto insurance premiums but also you life insurance premiums. This may come as a shock that your life insurance premiums are affected by this, but if you have been caught speeding on multiple occasions within a certain time frame, you will be considered a habitually risky driver.

Dangerous hobbies and activities will also affect how big of a check you right to the insurance company. Extreme sports may be a way of life for thrill seekers, but they can also increase the rates you pay for insurance. Some companies may exclude you all together if they see that you are too much of a risk. There are also other companies that will exclude payment if you die while participating in these activities.

Here are a few of the activities that could affect your premium:

  • Sky Diving
  • Base Jumping
  • Aviation
  • Bungee Jumping
  • Hang Gliding
  • Rock Climbing
  • Scuba Diving

If you don’t participate in any of these activities now or have plans to do so, there is no consequence if something were to happen to you if you decided to participate in one of these activities.

Term Insurance Is The Most Affordable Type Of Life Insurance.

Like its name states, term insurance is good for a certain time period, whether it be 10, 20, or 30 years. Term insurance does not generate cash values, and you cannot borrow against the policy. These policies are a great way to protect your family during times in your life where you have outstanding debt, such as a mortgage or kids college tuition to pay for. These are financial burdens that you would not want to leave behind if you were to “kick the bucket”.

Here are some examples of term life insurance quotes for healthy, non-smoking males. Note that these rates are annual premiums.

10 Year Term Policy for Men

10 Year Policy$100k Face Amount$250k Face Amount$500k Face Amount
Age$100,000$250,000$500,000
30$83$115$170
40$98$140$220
50$166$280$500
60$329$702$1,345

20 Year Term Policy for Men

20 Year Policy
Age$100,000$250,000$500,000
30$109$155$245
40$132$208$355
50$269$504$930
60$638$1,308$2,555

30 Year Term Policy For Men

30 Year Policy
Age$100,000$250,000$500,000
30$147$225$385
40$204$342$620
50$403$798$1,535

Term Insurance For Men Recap

Hopefully by now you’ve realized by now that more than just kryptonite can you take you down.   As the “man of the household” take care of your family and get a cheap term life insurance policy today, the younger the healthier the better. As you can see getting life insurance younger as opposed to purchasing life insurance in your 50’s can save you a good bit of money!

The best way to ensure that you’re getting the most affordable term life insurance policy is to work with an independent agent, like ours at Life Insurance by Jeff. Unlike at traditional agent, we don’t’ work for one specific company. Instead, we represent dozens of highly rated companies across the United States and we can connect you with the perfect policy to fit your needs.

One of the most common reasons that men don’t buy life insurance is because they imagine themselves living long and healthy lives, but you never know what’s going to happen tomorrow. Not having life insurance could be one of the worst mistakes that you make for your loved ones.

Aside from getting a life insurance policy, you need to ensure that your coverage is sufficient enough to cover all of your families need if you were to pass away. There are several different factors that you’ll need to account for when calculating your life insurance need.

The first is your debt. One of the primary goals of your life insurance policy is to help your loved ones pay off any expenses that you leave behind, like your mortgage, funeral expenses, medical bills, student loans, and many other debts. Add up any bills that your family would be responsible for and make sure that your policy is large enough to cover those expenses.

Another factor to consider is your annual salary. If you’re one of the main income earners in your household, your family would struggle to pay for essential things if they no longer had your paycheck coming in every month. That’s where a life insurance policy is so important. It gives your family the money they need to replace your salary without sacrificing their standard of living.

If you have any questions about getting life insurance or about the coverage you need, please contact one of our agents today. We would be happy to answer any questions that you have and ensure that you’re getting the best coverage for your family. You can’t predict the future, don’t wait any longer to get your family the insurance coverage that they deserve.

{ 2 comments… read them below or add one }

Dave January 2, 2013 at 7:03 pm

Are those monthly or yearly premiums listed on the chart?

Reply

Jeff Rose January 2, 2013 at 7:14 pm

@ Dave Those are annual premiums.

Reply

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