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Affordable Life Insurance for 38 Year Olds

Getting the most affordable life insurance for 38 year olds begins with knowing which top life insurance companies and no exam life insurance companies are available to you.You should always work with a life insurance agent who can shop your case to all of the best life insurance companies.

So make sure your agent is an independent life insurance broker who can provide you honest and unbiased suggestions.

Affordable Life Insurance for 38 Year Olds

This post will help you to learn how to get the most affordable life insurance rates for 38 year olds.

We’ll show you what life insurance companies look for before they even think of offering you a life insurance policy. We’re also going to show you how to get qualified for the best term life insurance rates.

Are you ready?

Let’s get started.

Life Insurance For 38 Year Olds

Similar to every age group, you’ll need to have a good foundation of how this all works.

Term life insurance premiums continue to lower in price due to life insurance company competition, life expectancies and medical advancements.

The competition from all of the life insurance companies creates a fantastic shopping opportunity that should allow you to get a great low rate.

Focus on this first

The first thing to be aware of when shopping for the lowest priced life insurance are that companies look at you differently.

When you’re in your 30s, you’ll want to know which life insurance companies have the best rates for your age.

The companies that are the most competitive when you’re 38 may not be the same in 10 or 20 years.

One of the major advantages to purchasing a policy now is the overall rates are low for your age group.

Term life insurance rates for 38 year olds are relatively stable. They don’t have huge increases from year to year.

However, these life insurance rate increases start to go up when you enter your 40s and 50s.

So you will want to get a term life insurance policy now while you’re still relatively young.

Quick Tip: Life insurance rates by age can vary by quite a large margin depending on the term life insurance company that you choose even though you’re only 38 years old.

When you’re 38 and in great health, you’re going to have several great companies to choose from.

If you have a preexisting health condition it can definitely affect what your life insurance premium will be.

Life insurance companies look at your health before offering you a policy

What happens if your health isn’t perfect?

The importance of using an independent life insurance agent is paramount to you getting the best available policy. Only an independent agent will be able to find you the best life insurance companies that you will qualify for.

The typical life insurance shopper is not aware that they need to get qualified for their life insurance policy. Shoppers are even more confused when told that every life insurance company is different from company to company- when looking at your specific health.

Each term life insurance company will use their own specific underwriting guidelines to determine your rate class.

The good news?

Your independent life insurance broker will be your personal shopper and find the top life insurance company that you should qualify for.

Your life insurance agent will make a difference in what you’ll ultimately pay by researching all of the top life insurance companies and their underwriting guides.

Here’s a common example.

When you’re in great shape and perfect health, your life insurance agent will present to you the top rates from all the term life companies.

But let’s say you are somewhat overweight.

Now your life insurance agent will only research the top companies that can offer the lowest term life rates for your exact weight. What if you have some health conditions or use tobacco?

Your life insurance agent will research your specific health or lifestyle conditions based on your unique situation.

This will ultimately give you the greatest chance for the best available rates.

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Life Insurance Types

Most Affordable Life Insurance for 38 Year Olds

As we said before, 38 year olds will have several affordable life insurance options available to them.

Your actual term life insurance rate should more than likely be quite affordable.

Why?

On average, you are more than likely in good health in your 30s.

Most life insurance companies offer great rates for the most popular term lengths such as 20 and 30 year term life.

The term life insurance companies are competing for your business because of your relative young age which they see as a low risk.

Since they’re in competition for your business, it results in a lower life insurance premium rates.

The life insurance carriers look at 38 year olds as low risk which results into low term life premiums.

The life insurance companies base your rates on risk and they reduce rates as much as they can in order to offer a policy.

Your options are many due to this competition.

If you want a term life insurance policy without a medical exam or with a medical exam – you have those available to you.

No exam life insurance policies are becoming much more competitive.

No exam life insurance is a fantastic choice if you want to get a policy fast and avoid the inconvenience of a life insurance medical exam.

Qualifying for Life Insurance at Age 38

You really shouldn’t have difficulty qualifying for term life insurance at age 38.

Usually you are significantly overweight or have significant health risks, you should not have a problem qualifying.

What if you have a preexisting condition, are overweight or not sure about your health?

The great news is that you still have options available to you.

It will depend on your unique situation, but your agent will help you through this.

Understand that there are life insurance policies available to you, but they might be more expensive depending on your health risk.

Here are some examples of some common health issues:

  • High Blood Pressure
  • Elevated Cholesterol
  • Diabetes

These common health conditions can cause your term life rate to be higher.

This is because the life insurance companies will see your situation as riskier than if you didn’t have them.

This is a reminder that it’s important to apply for term life insurance now even if you have some health conditions.

Your life insurance rate will increase as you age. 

Your rates also increase due to your health class rating.

Life insurance coverage gets more expensive as your health declines.

You could even be denied a term life insurance policy in the future if your condition is severe enough.

Take advantage of your age and health status now while rates are relatively low.

Remember, you’re not getting younger!

Life Insurance Rates for 38 Year Olds

Now it’s time to look at rates.

Here are some sample term life rates.

Our examples have a male and female shopping for a 20 year term life policy with a $400,000 death benefit. Our example rates are based on a Preferred Plus health class rating and Non Tobacco user.

Your rate will be higher if you qualify for another health class.

A 38 year old man with excellent health looking for a $500,000 20 year fixed term life insurance policy. He can expect to pay just over $25 a month with American General Life and Protective. What if he wanted to apply for a $500,000 Non Medical 20 year fixed term? He would pay just over $31 a month with SBLI. Another option he could choose would be to select a Guaranteed Universal Life policy to a specific age. For example, he could apply for a $500,000 GUL to Age 90 for a little over $222 per month with AIG.
For women, it is even less for all of these life insurance examples. A 38 year old woman with excellent health looking for a $500,000 20 year fixed term life insurance policy. She can expect to pay just over $21 a month with Banner Life and Protective. For a $500,000 Non Medical life insurance policy at a 20 year fixed term, she would pay just over $25 a month with SBLI. For the Guaranteed Universal Life policy to age 90 – she could apply for a $500,000 GUL for a little over $190 per month with Mutual of Omaha.

Remember that these life insurance choices are much more affordable at age 38.

Just know that your peace of mind is possible and affordable while you are relatively young.

What are some of the most affordable term life insurance companies for a 38 year old?

Making sure you apply with the best life insurance company is so important.

At Life Insurance Blog, we help you find the right company based on your current and past health, your history, and your weight and height.

Once your desired amount of coverage is determined and the length of your term – we’ll research all of your options for you.

We simply help you find out which term life insurance company will offer you the best rates based on all of these factors.

Even though the life insurance market changes from year to year – the following term life insurance companies usually have the best rates and best term life insurance coverage for 38 year olds.

SBLI
Banner Life
Prudential
Lincoln
AIG

Compare Life Insurance Rates Today and Get a Quote

Remember to always shop around when buying term life insurance.

Your situation doesn’t matter, because your agent is there to help you no whether you’re healthy or have some issues.

 Term life insurance rates can vary up to 74% depending on the life insurance company!

Let us help you.

Work with us at Life Insurance Blog, because we’ll research and shop your case from dozens of the top term life insurance companies available.

You can get started now by comparing multiple term life insurance quotes on our site using our free quoter.

Would you prefer to speak over the phone? Simply call us at 888-411-1329 for a quote customized specifically for you.

Thanks for reading our post, Affordable Life Insurance for 38 Year Olds. Please leave a comment or question down below.

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Michael Quinn

Michael Quinn is the owner of Life Insurance Blog. If you have specific questions or face challenges getting coverage. Please email or call me a call at 888-411-1329 - Either way, I'm happy to help you.