Finding the best life insurance rates for 30 year olds begins with the most frequent question asked.
Which life insurance company is the best?
That’s a short question, but a difficult answer.
Keep reading and learn how to find the best life insurance company that you can qualify for based on your health, lifestyle and goals.
What do Jim Croce, Andy Gibb, Lisa Lopes and Patsy Cline all have in common? They all passed away at age 30.
Life Insurance Rates for 30 Year Olds
Life insurance rates by age can sometimes vary by a wide margin depending on your age and the life insurance company that you choose.
If you have a current or preexisting health condition, it can make an even bigger difference in what you will end up paying.
Shopping for life insurance when you’re in your 30s is an ideal time.
You more than likely have begun to add responsibilities during this phase of your life.
You may have gotten married recently and may even have children. Your career is often underway and you may have purchased your first home.
All of these responsibilities need protection with life insurance.
If you were to pass away, your family will be left without your current and future income.
Life insurance is the perfect solution for this dilemma.
You are able to secure a great rate when you purchase life insurance at age 30.
It’s a great time to buy, because rates are at an all time low for Whole Life or Term Life insurance.
For the majority of 30 year olds, buying life insurance is:
Life insurance is inexpensive the younger you buy.
Underwriting is usually quicker in your 30s, especially with No Medical Exam life insurance.
Purchasing life insurance is simple, because most 30 year olds don’t have significant health issues that complicate the process.
Calculating how much life insurance you’ll need isn’t very difficult when you’re 30.
You should have a good idea how much your salary is now and your future earning potential.
Life Insurance at 30- Buy Now or Later?
Postponing life insurance is usually a bad idea.
It is only advised for a few situations like with tobacco use or DUI. Purchasing life insurance when you’re 30 and healthy shouldn’t be put off. Rates will only increase as you age.
You are at a very competitive age for the life insurance companies.
They work hard and crunch the numbers trying their best to lower rates and stay competitive in the market.
This results in an excellent buying opportunity for you.
You’ll get to choose from any of the insurance companies providing excellent rates.
This goes for medical and non medical exam life insurance. You can read more about this in our article, pros and cons of no exam life insurance.
What if you have a health condition? Just know that every life insurance carrier is different with their underwriting rules.
Some health conditions will be looked at more favorably by some life insurance carriers than others.
At LifeInsuranceBlog, we don’t use a cookie cutter quoting system like the big call centers. Instead, we get to know you, research your options and find you the best companies based on your unique situation. Call us at 888-411-1329 for a personalized quote.
Read on to find out just how much you should expect to pay for life insurance when you’re 30 for a variety of life situations.
Life Insurance At Age 30
For most 30 year olds, buying term life insurance will typically not be difficult.
In fact, it should be quite easy and fast.
When you are researching the lowest priced life insurance rates for 30 year olds, you need to understand 3 things.
These 3 questions should be answered before putting in an application.
- Am I choosing the best term life insurance policy at age 30?
- Should I get a policy that requires a Medical Exam or a No Exam policy?
- Is there a benefit with shopping directly with the insurance company?
Choosing the Best Term Life Insurance Plan at Age 30?
Nobody is exactly like you.
Your health, family history, height, weight and other factors make you unique.
What isn’t unique is the term lengths that 30 year olds buy.
20 and 30 term life insurance policies are very common because you’re young.
But you need to ask what is the purpose of your policy?
If you recently purchased a home, you may have a significant amount left on your mortgage.
Your income will probably be difficult to replace at this age.
Do you have children or planning in the future? Will your life insurance policy pay for their education?
These questions are very important and need to be addressed.
Sometimes term life insurance won’t meet your goals.
Perhaps you’re looking for life insurance that won’t expire in 20 or 30 years. Guaranteed Universal Life (GUL) can give you coverage to a certain age.
GUL policies can be bought to cover you up to a maximum age 121. This life insurance option is perfect for those that need peace of mind because GUL will cover you for your entire life.
Should I Buy a Medical Exam or No Exam Life Insurance Policy?
Typically, a life insurance policy requires a medical exam before you can buy.
This might be the only type of life insurance you’ve heard of if you’re a first time buyer.
A medical exam (or paramedical exam) nurse or examiner will gather the following details:
- Blood Pressure
- Blood Sample
- Urine Sample
The medical exam is very much like a yearly physical.
The results of the medical exam will be sent to the life insurance company to be analyzed.
The medical exam is free.
It is paid for by your life insurance agent or the life insurance carrier.
Life Insurance Agents
Working with an independent life insurance agent can save you a significant amount of money.
Your life insurance agent should be asking you important questions that the life insurance companies will be underwriting.
A good life insurance agent will gather all of your health and lifestyle details so they can quote you correctly.
Your quote will be directly dependent on your information. If you leave out anything, your quote could be wrong!
The details you provide is key. Your quote is only based on the information you provide your life insurance agent.
Applying to a company based on inaccurate information can be a disaster.
Now, what if something does pop up on the medical exam or health history?
Of course this will all depend on what was found during underwriting. The life insurance company may even deny you a policy altogether if the results were severe.
No Exam Life Insurance
Do you hate needles?
Do you want a policy approved quickly?
These are just a few of the reasons why someone would want an No Exam Life Insurance policy.
These policies are extremely convenient for the life insurance shopper.
Many people hate giving blood samples and scared of needles.
No Medical Life Insurance policies have much shorter approval times. process.
No Exam policies usually have a list of medical questions, a medication database check, and a motor vehicle report.
Some policies are approved in less than a day and some instantly!
Medical vs. Non Medical Insurance Rates for a 30 Year Old
Instantly compare life insurance rates for no medical and medical exam life insurance.
Just use our free online quoters to compare.
COMPANY TIPS: No Exam life insurance is becoming much more accessible.
More life insurance companies are offering No Exam policies.
The following are several of the stronger companies for Non Medical life insurance.
Transamerica and American National will not require a medical exam, but your medical records from your doctor will be requested.
Since they request these records, their approval typically takes about 3-4 weeks.
Sagicor can approve your policy in less than 15 minutes and up to 48 hours. Fidelity has approval times around 24 hours.
If you need to get your life insurance policy fast – choose Fidelity Life or Sagicor.
Should I Buy Directly From a Life Insurance Company?
When you buy from the life insurance company it can be a potential disaster.
Every life insurance company sends their life insurance rates for approval to each state’s insurance department.
Life insurance companies will come up with their rates prior to submitting them.
When the insurance department approves the rates, the companies must sell at those rates.
You will not receive a better rate for the same policy by going direct or with an agent or broker.
When you buy direct, you’ll never know if that company is the best rate that YOU qualify for.
The life insurance company is not going to let you know if their competitor will save you money.
An independent life insurance agent can.
This is even more important if something comes up during the underwriting process.
What if your cholesterol or blood pressure is elevated? If you buy direct, you might get rated up to a different health class. This simply means your rate will be higher than when you applied.
How will you know which company is the best for you?
Only agents have access to the underwriting guides to every life insurance company.
The best way to get the lowest life insurance rate is to work with an independent life insurance agent.
At LifeInsuranceBlog, we work with over 60 of the best rated life insurance companies.
We’ll find the best life insurance companies that will give you the best chance of coverage at the best price.
Best Term Life Companies For a 30 Year Old?
You’re young and most likely healthy when you’re 30 years old.
Finding a life insurance company to meet your goals and budget should be pretty simple. If you have any health conditions such as High blood pressure, cholesterol, diabetes, you’ll want to apply quickly.
Putting off life insurance with health conditions may make it difficulty or impossible later on.
Whether you’re healthy or have some health issues, there is a competitive life insurance company for your unique situation.
Some companies offer the best rates when you’re in perfect health. Other companies are more competitive with certain health risks. Applying with the right company is key
Although the market changes every year – the life insurance companies below generally have the cheapest rates and best term life insurance coverage for 30 year olds.
Compare Life Insurance Rates Today and Get a Quote
By working with LifeInsuranceBlog you get personal service from start to finish.
Your agent will begin the process with you and research all of your options. You’ll receive personalized quotes to choose from and we’ll even help you apply.
Updates and communication will be provided throughout the process up to the final outcome or approval.
No matter the outcome, Life Insurance Blog will make sure you’re getting the deal even after your approval.
Life insurance rates can vary up to 70% depending on the company!
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