If you’re looking for information on shopping for the least expensive life insurance for 34 year olds, you’ve come to the right place.
How many 34-year-olds have their mortgage just about paid off—or even close?
Their kids college savings plans topped off—or even close? Their retirement plan fully funded—or even close? I’d venture to guess that if you took trust fund babies out of the equation, you could count the number on one hand. And it’s probably not too much higher for 44-year-olds.
Least Expensive Life Insurance for 34 Year Olds
You should never rush into an important decision.
Finding the best life insurance for a 34 year old is one of those decisions.
What do Jesse James, Jayne Mansfield, Dana Plato, and Charlie Parker all have in common? They all passed away at the age of 34.
The great news is that when you’re 34, you should qualify for some of the best life insurance rates by age.
Life Insurance for a 34 Year Old
Most 34 year old applicants are going to be pleasantly surprised to learn that choosing to buy life insurance at age 34 does have some unique benefits.
First off, by now you’ll probably have a pretty good idea about how much coverage you’ll need as well as have a good idea about what will and what won’t fit within your budget.
Additionally, you’ll now be able to purchase a less expensive 30 year term life insurance policy that will provide coverage all the way to age 65, without having to break the bank! In fact, most 34 year olds should find that their life insurance options are:
Affordable (see our life insurance rates by age chart)
Easy to qualify for.
And full of options.
How Much Do You REALLY Need In Terms of Coverage?
Many families take on multiple financial obligations when they’re raising a family. It very easy to sit down with your insurance agent and rattle off a number for your insurance needs, but is it truly based on reality?
How much you need now is one thing, but what about 5, 10, 20 or 25 years into the future. Will you upgrade your house? Do you expect to take on more debt? Will your paycheck increase?
It’s so easy to underestimate what is needed when you think about your circumstances in a vague way. The numbers quickly stack up!
Life Insurance Needs
If you purchase too little life insurance, you won’t have enough, in which case your family will run into financial difficulty or worse yet they could go bankrupt and lose everything in the event of your death.
On the other hand, you don’t want to buy too much because you will be spending hard earned cash which could be better used elsewhere.
If you are in your 30’s, you probably are buying life insurance for income replacement. So you need to be very honest about what you think your needs are going to be over the coming decades.
Affordable Life Insurance for a 34 year old
Buying life insurance in your 30s should be affordable because most applicants are going to be pretty healthy and active.
For this reason, insurance companies are likely to offer very low rates or offer policies that do not require full medical exams in an effort to earn your business.
Average cost of term life insurance for 34 year olds
For example, as of August 1st 2017, 34 year old male in perfect health taking out a $250,000 20 year term policy would pay less than $14 a month with some A rated competitors. And a universal life policy for $250,000 to age 100 would run a little over $89 a month. That same 34 year old male would only pay around $20 a month for a 20 year term non medical exam life insurance policy.
Qualifying for Life Insurance
Qualifying for life insurance at age 34 should also be pretty simple because as stated before, most 34 year olds are going to be in pretty good shape.
At age 34, most applicants probably won’t be taking medications for:
- High cholesterol.
- High blood pressure.
- High blood sugar
Since you are most likely healthy and aren’t using any major medications, getting life insurance now is key to securing the best possible rate for you and your family.
After all, you will never be younger than you are today.
And your current age is a huge factor in determining life insurance rates.
Tough Medical Issues? We Can Save You Up to 73% on Term Life Insurance!
Do you have a pre-existing health problem or a disability?
Not to worry, we can help you.
One of the biggest insurance myths is that you cannot find affordable insurance if you have a medical condition.
More options to choose from
Buying life insurance at age 34 will give you a greater variety of options to pick and choose from.
This variety is extremely important when considering which life insurance policy works best for your goals: term versus permanent life insurance, is best for you and your loved ones.
Best type of life insurance for a 34 year old
The most common types of life insurance are:
- Term Life Insurance Policies
- Whole Life Insurance policies
- Universal Life Insurance policies
Each of these different types of policies should be considered as possible alternatives to traditional term life insurance simply because at the age of 34, these alternatives may still be very affordable.
But the primary focus should be on getting enough life insurance.
Therefore, you may need to consider a shorter term policy with a big death benefit.
The licensed professionals at Life Insurance Blog can help walk you through an in depth needs analysis to make sure you are getting the best policy for you and your family.
Life Insurance Blog
By working directly with Life Insurance Blog you will have an assigned agent dedicated to your application.
This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
So what are you waiting for? Just give us a call at 888-411-1329 to see just what we can do for you!
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