Least Expensive Life Insurance for 36 Year Olds– If you are 36-years-old and are thinking about getting life insurance, then you’re likely worried about leaving financial responsibilities on your family. Many people seek out life insurance when they turn 36 so they can get a low rate locked down while they’re in optimal health.
Least Expensive Life Insurance for 36 Year Olds
Most parents will buy life insurance for their kids at the age of 36, too. You’ll have ample options for life insurance coverage and the rates are quite economical. Check out your choices and compare rates from the best life insurance companies.
Sample Rates for Life Insurance at Age 36
The following are sample rates for life insurance at age 36 applicable to people with a preferred health rating and who don’t smoke. Based on your circumstances, your rate might be higher or lower.
20 Term Life Insurance with a $500,000 Benefit
- 36-Year-Old Male – $22 per month
- 36-Year-Old Female – $19 per month
Whole Life Insurance Policy: $500,000 Level Benefit
- 36-Year-Old Male – $6237.00 annually
- 36-Year-Old Female – $5362.00 annually
Be mindful that the final rate that you qualify for is contingent on numerous factors, like whether you smoke, your personal and family health history, your hobbies and occupation, and even your record behind the wheel. When establishing your qualifications for a policy, life insurance companies consider all these aspects during the underwriting process.
When it comes to Whole Life, the sample rates above can change quite a bit depending on your goals and how the policy is structured.
Your Life Insurance Choices at 36 Years Old
There are a couple of main life insurance types to choose from when you’re 36-years-old: Permanent Life and Term Life Insurance.
Term life insurance is short-term coverage that can last for a set period of time. You can purchase a 1 year term or as much as a 30 year term life policy. It just depends on your choice of life insurance company. Term is an economical option since you obtain plenty of coverage for an affordable premium.
In comparison to term life insurance, permanent life insurance will remain active as long as you’re alive, assuming your premiums are paid. Further, on a tax-differed basis, your policy will accumulate cash value. Universal and whole life insurance are the most popular choices for permanent coverage.
See Related: Read more about Life Insurance Rates by Age from the 30s, 40s, 50s and 60+.
What If I Have Some Health Problems
While many 36-year-olds of either gender are in optimal health, you might be someone who may have a pre-existing health condition. This may have resulted over time, or perhaps originated from birth. In any event, affordable life insurance for 36-year-olds is still very possible.
The kind of policy you can be eligible for and the cost you pay depends on what specific health condition you have and how risky it is to the life insurance company. For instance, those with high blood pressure will be given a standard rate by most life insurers if the condition is properly regulated. If you’ve gone through a stroke or heart attack, or if you have heart issues, you might only be eligible for a guaranteed life insurance policy. You might have to pay even more if you are overweight since there is a connection between obesity and developing health problems.
The great news is that each company looks at you differently. This promotes competition which ultimately means a better opportunity for affordable coverage. It is best to speak with an experienced agent like Life Insurance Blog about your particular health situation. Your agent can help find the best life insurance carrier for your needs.
Affordable Life Insurance When You’re 36
Purchasing life insurance when you’re 36 should be fairly inexpensive since most applicants are expected to be healthy.
As such, a 20 or 30 year term policy is considered low risk for many insurance companies. Therefore, insurance companies will be pretty assertive with regards to fighting for your business. Life insurance companies who provide no exam policies have even started competing with policies that require an exam. This was not the case just a few years ago.
For instance, a 36-year-old man in optimal health who wants a $250,000 life insurance policy on a 20 year term life policy would pay a monthly rate of $16.93 with SBLI (No Exam) and just over $14 with Protective Life (Medical Exam Required).
A non-medical term life insurance policy can be a huge advantage over the policy requiring a medical exam. If you’re wanting a policy to be issued quickly, a No Exam policy is the way to go. Fully underwritten policies that require a medical exam can take 4-6 weeks on average. It can take longer to get an approval in some circumstances. For example, with SBLI you can get a 30-year fixed term with a face amount of $250,000 for just over $26 monthly and get your policy issued without an exam.
Looking for coverage to age 100? You can get a Guaranteed Universal Life policy (GUL) for $117 per month with Protective Life – one of the best GUL companies around. That rate is based on a 36-year-old man in optimal health who wants a $250,000 life insurance policy. For a 36-year-old healthy women, the GUL amount is a mere $101 per month.
Compare Rates by Getting a Quote Today
The initial step when looking for coverage is to browse companies. If you need a short-term policy, a specific set of years, or if you need something long-term, it is vital to contrast quotes from multiple companies.
Rates can differ by up to 70% per company based on your health, age, driving record, and smoking status. Ensure you obtain a complimentary no-obligation quote. You can check out several rates in seconds and have peace of mind knowing your loved ones will be taken care of.
If you want to get a quote by phone right now, give us a call. One of our professional representatives will assess your choices and give you a competitive quote.
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