20 Year Term for 36 to 40 Years Old

If you’re between the ages of 36 – 40 years old and are looking for very affordable term life insurance than this is the place.

You can get a 20 year term life insurance policy at an incredibly low monthly premium that’s equivalent to what you pay for your daily lunch.

The reason you probably want to get a term life insurance policy is to be able to take of your family and provide them with income replacement should you have an unexpected fatal accident.

How cheap is a 20 Year Term Life Insurance Policy?

Here’s an example of what you might expect to pay for a monthly premium for a $100,000 term life insurance policy. These quotes are for a person who is a non-smoker and in good health.

$100,000 Term Life Insurance
Quotes for Ages 36 – 40
Age                  20 Year Term

36 Year Old Man                 $9.87
37 Year Old Man                 $10.23
38 Year Old Man                 $10.60
39 Year Old Man                 $11.00
40 Year Old Man                 $11.42

(Disclaimer – These rates are effective as of February 1, 2013)

Why Term Life Insurance?

There are two basic types of life insurance policies which include term life and permanent life insurance. Term life insurance is without a doubt the most affordable of the two types of life insurance policies that your can buy.

Although term insurance covers you for life, it is bought in chunks of time such as a 20 year term policy. The premiums are generally the same through the life of the policy. Term life insurance pays out death benefits only and the proceeds go directly to beneficiary whom you name on the policy.

The life insurance proceeds are paid as a lump sum and are not taxable. One piece of advice about naming a beneficiary – never name your estate as the beneficiary because then the proceeds could become taxable.

Why Should I Buy Term Insurance?

Term life insurance is the most suitable form of policy if your primary aim for getting life insurance is to look after income replacement. You can also use it cover your funeral and death expenses, plus take care of any loans or debts such as your mortgage, car loan and credit cards for example.

Term life insurance is also a better buy than mortgage insurance which is sold by many mortgage lenders to cover your mortgage. Another reason why a term life insurance policy is better is because mortgage insurance is a form of a decreasing term policy, and the proceeds get paid directly to the lender and not your loved ones.

Also, if you are self-employed or are in partnership with one or more partners than you should carry some life insurance to cover your business expense obligations should you die.

How Much Term Life Insurance Should I Buy?

That’s up to you to decide, but most experts suggest that minimal amount of term life insurance you should carry, especially for the purpose of income replacement, should be 10 times your net annual salary. Of course, it also depends on what your budget will allow and whether you have any specific financial needs you want to cover.

Why a 20 Year Term Policy?

A 20 year term policy might just the right period to buy for anyone who is 36 – 40 years old. It’s very likely you plan to retire somewhere between age 55 – 60 and want a policy to cover you until then.

It’s also very likely that you have young children by now who may or may not be approaching or are already in their teens, and want to ensure you have sufficient life insurance until they are old enough to go out in the world on their own.

Will Term Life Insurance Cost More if I’m a Smoker?

The answer is yes. But, not to worry, it won’t cost all that much more. And, if you quit down the road and are free from smoking for a year or more (it varies from company to company), then many insurance companies will allow you to re-evaluate how you are rated and you could end up with a cheaper monthly premium.

Where do I Find a Cheap 20 Year Term Life Insurance if I’m Between 36 – 40 Years of Age?

You always want to talk to an independent agent like myself.  We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates.  If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.

Whatever your needs or questions then please call me direct at 877 – 966 – 9383.

20 Year Term Life Insurance over Age 50

Can you still buy affordable term life insurance if you’ve you just turned 50 or are in your 50’s?

Many people in this age bracket think it will be too expensive.

Well, I have some good news for you.  If you are in your 50’s, and are a non-smoker who is in reasonably good health than you can still buy a 20 term life insurance policy that can easily meet your budget.

People in their 50’s are most likely still employed and probably don’t plan to retire until at least age 65.  Many people may even have no choice but to work longer such as up to age 70.

The main reason why you want to look at buying a term policy is to cover your family’s financial needs in case something happens between now and before you retire.  You might even be thinking of extending your life insurance a few years beyond your retirement to give you a financial buffer zone.

A 20 year term policy is the ideal choice if you want your life insurance coverage to protect you for those reasons.

How much is a 20 Year Term Life Insurance Policy?

I did some research and I have some quotes to show you how economical it would be to get a 20 year term life insurance policy for someone in their fifties. The following example is for a policy worth $100,000 and someone who is a non-smoker and in good physical health. These are Preferred Plus rates.

$100,000 Term Life Insurance Quotes for Ages 50 -59

Age 20 Year Term (Monthly)
50 Year Old Man $23.23
55 Year Old Man $35.05
59 Year Old Man $50.13

(Disclaimer – These rates are effective as of January 15, 2013)

As you can see, the monthly premium is very inexpensive and easily meets most people’s budget. For information you can also check out this article – Quotes for 50 – 59 Years Old

Why Should I Buy a 20 Year Term Policy?

Most people who are in their 50’s are still employed. They largely are thinking of buying insurance coverage that would compensate for their loss of income should they die before they retire.

You might need to look at something more than a $100,000 if you plan to cover a greater portion of your income, but it all depends on your individual requirements.

The other reason why a 20 year term policy would be the most suitable for many of you in your fifties is because term life insurance is without a doubt the most economical to buy.

The premiums are guaranteed to remain the same for the duration of the 20 year term and won’t increase at all. The death benefits are a tax deferred lump sum payment that your beneficiary can use any way they need to use it.

It’s a simple fact that far too many Americans have no life insurance coverage at all (almost 95 million Americans have no life insurance), and many of those that do simply don’t have enough.

Most experts suggest that the minimal amount of life insurance you need should be roughly equal to 10 times your gross annual income.

Buying a policy that is 10 times your gross salary may be too hefty a policy to carry for some of you, but having no insurance is even worse…… page 2……

What You Need to Know About 30 year Term for Ages 46 – 50

For anyone who is in the 46 – 50 years of age bracket and looking for an affordable 30 year term life insurance policy, we have just what you need.

If you’re in this age group then this is the perfect life insurance plan to cover you into your latter years.

For your age group, this an ideal time to buy a 30 year term policy because it’s a very inexpensive investment and will give you peace of mind while protecting your family.

30 Year Term Life Insurance Sample Quotes for Anyone 46 – 50 Years Old

Since I’m an independent agent, I am in the unique position to access numerous life insurance companies. So, I did some checking and found some great bargains for a 30 year term $100,000 life insurance policy. The quotes below are for anyone who is not a smoker and in good health.

$100,000 Term Life Insurance Quotes for Ages 31 – 35

Age                                                30 Year Term
Monthly                                 Annual
46 Year Old Man                    $26.86                                $307.00
47 Year Old Man                    $29.05                                $332.00
48 Year Old Man                    $31.59                                $361.00
49 Year Old Man                    $34.39                                $393.00
50 Year Old Man                    $37.63                                $430.00

(Disclaimer – These rates are effective as of February 1, 2013)

Reasons to Buy a 30 Year Term Life Policy

If you are aged 46 – 50 years old then a 30 year term life insurance policy is the best way to go if you’re looking to provide ongoing financial protection for your loved ones well into your future.

Were you to buy a shorter term policy and intended to renew it, the premiums would be substantially higher. So, now is the perfect time to get a 30 year term policy.

You can now rest easy because you know that whatever happens, your family will be looked after. Your debts can be cleared up, the mortgage paid off, and medical bills and your funeral and death benefits will be taken care of and paid.

Or, you might be thinking that you want have some funds on hand for the kid’s education, or leave them a financial legacy to give them a good start in life.

You’re also getting close to retirement and probably still want to make sure you have some income replacement should anything happen.

And, if you happen to be working for yourself and have your own business, or a partnership, this is also the ideal solution so your business debts are covered.

Have Health Problems?

It may also be a situation where your health has slipped a bit. This is the age range when many people get diagnosed with heart disease, diabetes, and even cancer. So even if you’re still healthy, it’s wise to plan for the worst case scenario now rather than later should your health deteriorate.

And, if you do have health problems and are worried you may not qualify for a 30 year term, then don’t give up. I specialize in helping people who have health problems and can help you find an affordable policy that could be tailor made for someone in your situation. Give me a call and we can discuss your health issues.

Whatever you’re reasons, a 30 year term is the way to go.

However, and as you can see from the sample quotes I provided, it does get more expensive each year with the passing of time, so don’t procrastinate and get it now before you have another birthday.

Features of a 30 Year Term Life Insurance Policy

The best reason to consider a 30 year term policy is because it’s so very affordable to buy.  Term life insurance is the cheapest life insurance policy that’s available, so if you’re on a budget, this is definitely the best way to go.

The reason why a 30 year term life insurance policy is so economical is because it pays out death benefits only. All you have to do is figure the reasons why you want a policy so you can determine how much you need.

The life insurance proceeds go directly to the beneficiary(s) you name on the policy and gets paid to them as a lump sum.  That way they get the money right away and can use it for whatever purpose they need.

The other good news is that life insurance is also tax deferred so no taxes have to be paid, so long as you don’t name your estate as beneficiary.

Where to Find an Affordable 30 year Term Life Insurance Policy

You always want to talk to an independent agent like myself.  We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates.  If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.

Whatever your needs or questions then please call me direct at 877 – 966 – 9383.

Important Considerations for Life Insurance at Ages 81-85

Regardless of your age, everyone has their reasons for having life insurance.

If you’re in the 81 – 85 years age bracket, you might be wondering if it’s possible to still buy term life insurance.

The answer unfortunately is no.  The life insurance companies have a cut off date where they will no longer sell term life insurance and that includes this age group.

However, don’t be put out as there are other life insurance options still open to you if you happen to between 81 and 85 years of age.  Life insurance has to be made available to everyone and that includes you.

What other life insurance Options Do I Have if I’m Between Age 81 – 85

There are other life insurance policies which you can buy.  Your two main choices are:

Before I explain the differences between the two policies, I will give you a few sample quotes of what you might expect to pay for one of these policies for someone in your age bracket.

These quotes are for someone who does not smoke and is still in reasonably good health.

$100,000 Whole and Universal Life Insurance Quotes for Ages 81 -85

Age Single Pay
81 Year Old Man $51,433.00
82 Year Old Man $54,312.00
83Year Old Man $57,681.00
84 Year Old Man $61,552.00
85 Year Old Man $65,803.00

(Disclaimer – These rates are effective as of January 15, 2013)

The above quotes means that you pay this as a one time single payment for your premium and you will be covered until age 121.

What Should I Buy – Whole Life or Universal Life Insurance?

That’s a good question and depends on your needs and circumstances.  The first thing you should know about whole life and universal life is that they both have some similarities which makes them different from a term life insurance policy.

A whole life policy or universal life insurance policy is especially the way to go if you need life insurance for:

  • Estate Planning
  • Setting up a Trust
  • Charitable Donations

Term life insurance pays out death benefits only.  A whole life or universal life policy is different because not only do they pay out death benefits but they both also have a cash value accumulation feature which is a form of savings plan.page 2……

What Everyone Should Know Before Buying Life Insurance

Thinking about life insurance and don’t know where to begin?

Learn all about the basics of life insurance so you can make an informed decision.

I will show how life insurance works and what you need to know to get you started.

Many people buy life insurance for a variety of reasons, but it always boils down to one central and vital concern – you want to see that your family is financially protected and well looked after if you were to suddenly die.

Buying life insurance takes a bit of planning and some careful thought. After all, the life insurance policy you buy will be a long term investment.  You want to get the right amount to cover you for a lot years into your future.

Reasons Why You Want Life Insurance

The first step is to decide on the reasons you will want to buy life insurance.  Your objective to buy life insurance could be a single reason or include several of the reasons listed below. These reasons include:

  • Income Replacement
  • Pay for death and funeral expenses
  • Pay off your debts such as the mortgage, credit cards and personal loans
  • Cover medical expenses not covered by other plans if you are faced with a terminal illness
  • Pay for children’s college tuition
  • Retirement and savings plan
  • Leave a financial legacy to your survivors
  • Business reasons such as if you’re self-employed or in a partnership
  • You want to set up an estate

These are just a few of the reasons why you might need to get life insurance if you have a family of four.  You need to give thought not for your current reasons for buying life insurance, but reasons which may come up down the road in your future.

Decide How Much Life Insurance You Need

Once you are comfortable with the reason you want to buy life insurance, you need a rough ballpark of how much you might require to cover these reasons.  As a rule of thumb, the basic minimum amount recommended by many experts is that you should have about ten times your annual wages.

It also depends on how much you can afford to budget yourself for, and what is reasonable for you.

Next, you have to decide what type of life insurance policy to buy.  So, let’s start with the basics.

Types of Life Insurance

There are 2 types of life insurance to select from and they include:

  • Term Life Insurance
  • Permanent Life Insurance

Let’s look at each in a bit more detail so you will have a basic idea of the differences.

Term Life Insurance

Term life insurance is the most popular to buy because it’s so basic and easily the most affordable type of life insurance which is available.

Term life insurance is pretty straightforward.  You buy term life insurance for periods of time such as 5 years, 10, 20 or 30 years for example.  The main features of term life insurance include:

  • Pays out death benefits only
  • Death benefits are not taxable and are paid as a lump sum
  • Premiums are guaranteed for the term you buy
  • Is renewable
  • Can often be switched over to a permanent life insurance policy

All you have to do is decide on the amount of death benefits you want and the length of time or term you want.

You should know that term life insurance is cheapest when you are younger and becomes progressively more expensive to buy as you age.

If you are a family of four and relatively young, then you should buy a policy now rather than later. If you are younger I would also suggest you buy a longer term policy, because it will become a lot more expensive to buy when you go to renew.continue page 2……