How to Get Cheap Life Insurance At Age 59

by Jeff Rose on November 3, 2016 · 0 comments

in Senior Life Insurance

Life Insurance at Age 59The closer and closer you get to age 60, the higher you will see your rates climb when it comes to life insurance. This is why it is extremely important at age 59 to start to seek out life insurance that is good for your current situation.

It is hopefully the case that you are still in very good health, but many life insurance companies start to associate age 60 with increased health problems. It is for this reason that it is extremely important to lock in a lower rate while you are still healthy and in your 50’s.

Not only that but life insurance provides you with the ability to sleep well at night knowing that your loved ones will be taken care of.

Coverage for Life Insurance At Age 59

Term life insurance is a very appealing type of insurance for someone at the age of 59. You can purchase it a variety of different periods of time anywhere from five to twenty years.

It is meant to fill the lack of income in the event of misfortune so it is extremely valuable especially given that it can be obtained at a very reasonable rate.  If you’re looking for the cheapest term life insurance option, term life insurance policies are going to be the best option. Because they are only effective for a certain period, they are offered at a lower monthly premiums.

The other type of insurance that is appealing to someone at age 59 is whole life insurance. Although this comes at a slightly higher rate, it is a permanent insurance, at least for as long as you continue paying the premium.  If you don’t want to worry about losing coverage in the future, or have to reapply for coverage, these whole life policies are a great option.

What are the rates for a 59 year old?

The rates for a 59 year old will depend on many factors, but the most recent quotes for a healthy man are as follows. A policy for term life insurance of twenty years costs $1769 per year for a $200,000 benefit. A 59 year old female on the other hand will only pay $1157 for the same coverage. Whole like insurance for a male with a benefit of $100,000 will run $1476 per year. The same coverage for a female will only cost $1221 per year.

Sex10 Year20 Year30 Year
MaleProtective - $55.53/monthSBLI - $100.27/monthNot Avaliable
FemaleProtective - $39.71/monthSBLI - $70.25/monthNot Avaliable

These quotes are mainly met to provide an idea to you as to how affordable life insurance can be. Every person is different and rates can change so these should be taken merely as indicators.

What are the Risk Tables?

There are several reasons that person may be denied coverage. Serious illnesses fall into this category. These can include diabetes, heart disorders, and other critical diseases.

All hope is not lost for people with these illnesses though. Standard life insurance may still be available to someone with what is considered a high risk if it they look at their condition and it is determined to be under control. Otherwise healthy adults will most always be able to qualify for the standard rates that are available.

If you are a high-risk applicant, it’s important that you find the perfect insurance company for your specific condition. There are a lot of insurance companies that specialize in insuring applicants with certain health complications. These companies have more experience working with high-risk applicants and under what is involved with the conditions and they are going to give you lower rates or a better chance of being accepted.

Getting a Set of Quotes

If you are unsure of how to proceed in obtaining life insurance, it may be advisable to seek out the help of an experienced life insurance agent.  We provide easy life insurance quote by using the quote form on the side of this page.  This will allow you to compare term life insurance rates from all of the best life insurance companies.

We know that purchasing life insurance policy and applying for coverage can be confusing and difficult, but we can help walk you through the process to ensure that your family is getting the protection that they deserve.

Getting the Lowest Insurance Rates

More than likely, this isn’t your first time purchasing life insurance, and you’ve noticed that it’s much more expensive than it was the first time that you bought coverage. Life insurance doesn’t have to cost you a fortune every month, there are several ways that you can get an affordable policy, even at age 59.

The best advice for getting lower rates is to not wait any longer to apply. Once you turn 60, you are going to see a significant increase in your monthly premiums. If you want to get the cheapest insurance available, start the process today.

The next thing that you should do to save money is to focus on your health. There are several ways that you should do this, the first is to start a healthy diet and get regular exercise. Unless you choose a no exam plan, the results from the medical exam are going to play a major role in how much your pay every month for insurance. The better the results, the lower the rates. A diet and exercise are going to help you lose weight, lower your blood pressure, and help lower your cholesterol, all of which are going to translate into more savings.

The next lifestyle change that you need to make to save money is your smoking habits. If you’re a smoker, then you’re going to pay around double or triple what a non-smoker is going to pay for the same insurance coverage. If you want to save hundreds of dollars, even thousands, it’s vital that you quit your smoking habits. Even if you use chewing tobacco or smoke cigars, you should still be lumped in with the smoker’s rates.

The best way to ensure that you’re getting the lowest monthly rates is by comparing quotes from several different companies. You compare prices for TVs or a car, why wouldn’t you do the same for an insurance plan? The best way to do that is by working with an independent agent, like ourselves. We represent some of the most highly rated companies across the U.S. and we can help connect you with the perfect policy at an affordable rate. Working with an independent agent not only saves you time, but it also saves you money. It’s a win-win situation

Anyone looking to purchase life insurance for people over 50 is going to need to consider all the possible life insurance options.  Because the needs of people in this age range varies greatly from person to person, working with an independent agent will allow you to get the best policy at the best price for your needs.

Our agents will talk to you and get details on your individual needs.  Then we will make sure you understand exactly what type of policy choices you have, the pros and cons of those policies, and finally work with you to get the best rates.

You never know what’s going to happen tomorrow, you can’t predict the future, but you can always plan for the worst. Life insurance is the only way to ensure that your family is going to be taken care of, regardless of what happens to you. Don’t wait any longer to get an insurance policy and the peace of mind knowing that family has the protection that they need.

If at any time you have a question we are here to make sure you get the best policy.  If you are ready to get started, fill out the form on this page or get us a call at 1- 888-836-7071.


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