Top Life Insurance Options for 37 Year Olds

Top Life Insurance Options for 37 Year Olds

If you are 37 or getting ready to turn 37, you are probably starting look around for a good life insurance policy to protect your family should anything happen to you.  You’re wanting to know the top life insurance options for 37 year olds. 

Most people start thinking about life insurance when they turn 37 in order to get the best rates, especially if you are in great health.  This is the age when parents start thinking about their kids, should anything happen to them.  There are so many different options available for life insurance policies along with costs that are very affordable. 

Let’s look at several options for you to compare and find the company that will work best for you and your family.

Top Life Insurance Options for 37 Year Olds

There are two primary options for life insurance when you turn 37.  You are given the option of Term Life Insurance and Permanent Life Insurance.  Here’s the breakdown explaining both:

Term Life Insurance:

This is a temporary option that can last from one year to 30 years, all depending on the company providing the insurance.  Usually, term life is quite affordable and you will get a great coverage with a very reasonable premium.

Permanent Life Insurance:

Unlike, term life insurance, permanent life insurance is a plan that will last your entire life, as long as you keep up with your premium payments.  Another advantage to this option, you will accumulate cash value on your tax-deferred basis.  There are two options under permanent life insurance – Whole Life and Universal Life.

Life Insurance Rates At Age 37

Here are some rates that vary for a number of reasons.  They’re based on whether you are a smoker or not, have a good health rating, and your overall rate will be higher or lower, depending on all underwriting circumstances and situations.

30-Year $500,000 Term Life Policy

  • $42 a month for a Male who is 37-years-of-age
  • $36 a month for a Female who is 37-years-of-age

$250,000 Whole Life Insurance

Whole life insurance rates can change quite a bit depending on your age, your salary, and what you do for a living.  Someone who has a desk job will pay a lower rate than someone who has a high-risk job.

  • $290 a month for a Male who is 37-years-of-age
  • $249 a month for a Female who is 37-years-of-age

Again, insurance companies take many things into account to determine your eligibility.  Your smoking habits, your health, your family’s health history, your occupation, hobbies, and driving history.

The rates above may be higher or lower depending on your health, the company you choose, and other underwriting details.

What Happens If My Health Is Not Perfect?

Even if you have a pre-existing health condition that you developed over the years or you were born with, you can still get very affordable rates for life insurance when you turn 37.

The insurance policy you will qualify for and what you will pay will be based on what your particular health issue or risk might be.

If you have a heart condition or had a heart attack in the past, you may qualify for a traditional policy or a Guaranteed Issue Life Insurance Policy depending on when it occurred.

If you have high blood pressure, some companies will only offer a standard rate, as long as your condition is under control.

If you are overweight, you could possibly have to pay a higher rate.  This is usually determined based on your risk of obesity or other health issues that might develop.

It’s highly recommended that you meet with an experienced insurance agent and discuss any health issues you might have.  Your agent can show you different insurance companies that will fit your needs.

Getting Affordable Life Insurance For 37 Year Olds

Because most applicants who are 37-years-of-age are healthy, their health status typically allows them to easily opt for an affordable 20 to 30-year term life policy that is seen as a low-risk by the insurance companies.  Life insurance companies are going to seriously vie for your attention due to your age and health condition. 

You will also receive offers from “No Examination Life Insurance Companies”.  They will offer much lower rates and no hassles such as scheduling a medical exam.

Examples:

A perfectly healthy 37-year-old-male applying for a $500,000 life insurance policy with a 20-year fixed term will only pay $24 a month and with Lincoln Financial, just over $24 with Banner Life, both A rated life insurance companies.  The guaranteed cash value of an Foresters whole life insurance policy will constantly grow, regardless of the economy.

Another option is a non-medical term life insurance policy with a value of $500,000 on a 20-year fixed term for as little as $28 a month with SBLI.  A male in perfect health who applies for a $250,000 Guaranteed Universal life policy will only pay around $114 a month with Protective.

A perfectly healthy 37-year-old female will pay approximately $13 a month for 20 year term.  When you think about it, there are very few things that $13 will cover in this day and age, so why not spend it on a $250,000 term life insurance policy?

See Related:

Life Insurance Rates by Age

Life Insurance Shopping & Getting Quotes

It doesn’t matter what your age is, whether you are 37 or in your 60s, you should shop around to find the best options for your needs.  Whether you want a temporary policy for a set number of years or you want a permanent policy that will be with your for your entire life.  It’s important that you compare quotes from different life insurance companies.

Rates can vary by as much as 70%, depending on your age, health, and whether you smoke or not.  In some cases, your driving history could come into play.  Always shop around and get free, no-obligation quotes before making a decision.  You can compare rates within in a few minutes right here and decide which plan will work best for you and your family.

Simply use our free instant life insurance quoter found on this page or call us at 888-411-1329 for a customized life insurance quote.

If you prefer to talk to someone in person, please feel free to call us toll-free.  At Life Insurance Blog, you’ll work with a licensed experienced independent agent who will go over all your options and make sure you get the best quotes for your age and your specific needs!  Never choose a policy until you understand how you and your family will benefit from a certain plan.

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Michael Quinn

Michael Quinn

Michael Quinn is the owner of Life Insurance Blog. Please email or call us at 888-411-1329. We're here to answer your questions & help you get the best policy available.