Best Life Insurance for 48 Year Olds

Life Insurance Quotes for 48 Year Olds

When it comes to life insurance for people in their 40s, most people often believe that it will be quite expensive. Thankfully this is not the case, as life insurance for individuals in their 40s is often not much more expensive than life insurance for individuals in their 30s.

Age is a key component in your life insurance rates. Thankfully, it’s not the only one. You can’t do anything about your age, but you can control other factors.

Click here to access quality life insurance quotes from top rated carriers.

When people inquire about life insurance rates, we always recommend that they use free tools like the quote calculator featured on our website to help them figure out how much life insurance will cost them. If you’re looking for the perfect insurance carrier, check out some of our reviews, like our State Farm Life Insurance Review that could help you learn some facts before making a decision.

Cheap Term Life Insurance Quotes for 48 Year Olds

Let’s go ahead and get down to business. The main thing you’re probably concerned with is the price. It’s the question we get most often, “how much is my life insurance going to be?”

It’s a great question, but the answer isn’t that easy. There are a bunch of things the company uses to determine your coverage rates.
We can’t tell you how much you’ll pay without talking to you first, but we can give you some sample quotes of clients we’ve helped in the past.

Quick note: all of the sample quotes we’ve given are for non-smokers. If you smoke, these rates are not going to apply to you, but we can still help you find a plan for you.

Monthly premiums, term life insurance for a 48 year old male “Preferred” :

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term              $12          $14           $26           $47             $86
15 year term              $15          $19           $34           $63             $120
20 year term              $17          $24           $44           $82             $159

Same applicant, but in a standard rating class instead of preferred:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term              $16          $19           $40           $73           $140
15 year term              $19          $25           $53           $100         $186
20 year term              $23          $32           $67           $129         $244

Now, let’s look at the same policy, expect for a female for a 48 year old female “Preferred” health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term               $11         $12           $23           $40             $71
15 year term               $12         $15           $27           $49             $90
20 year term               $14         $18           $34           $62             $116

Term life insurance for a 48 year old female “Standard” health class (controlled health issues), monthly rates:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term              $14          $15           $28           $50             $94
15 year term              $17          $20           $42           $77             $143
20 year term              $19          $24           $52           $97             $182

How to Save Money on Your Life Insurance

The quotes above are for applicants who are in excellent health, don’t have any pre-existing conditions, and don’t smoke. Unfortunately, not every applicant falls into these guidelines. In fact, the vast majority of people will not qualify for these rates.

The good news is you can still buy a plan you can afford with your budget. With the quotes above, those are rates from only one company. The same customer could get cheaper coverage somewhere else, or if they picked the wrong company, the rates could go up drastically.

Just like with any other kind of purchase, you want to do some shopping around. All insurance companies aren’t built the same.

One of the most common examples of variations in premiums is for life insurance if you’re overweight. Every company can have their own weight chart. Meaning, some companies can see you as overweight, while others will put you in a healthy weight class.

You need to choose a company who has the most relaxed views to help you save money. You don’t have to sift through all those companies. We can bring the companies to you. Call us, and you can sit back and we do the work.

If you want to save money on your life insurance coverage is to cut out any cigarettes or chewing tobacco. We already mentioned you would pay more, but how much more? A LOT more. At least twice as much.

If you have health problems, you should get those under control before apply. Go to your doctor, discuss your health, and come up with a plan. Sure, it’s going to take some work, but it will save you hundreds, if not thousands of dollars.

Life Insurance Policy at Age 48

At this stage of life, your insurance needs are very different than they were when you were 20. Each person is different, but in most cases, a term insurance policy is going to be the best option.

Why term? It’s going to be the cheapest way to get the most amount of protection.
Also, you can buy a plan which will expire when you no longer need life insurance. With a whole life insurance policy, you might end up paying for life insurance after you no longer need it.

If you choose to go with term life insurance, then you need to decide how big of a plan you’re going to buy. It’s easier than it sounds.

Take your annual income, multiply it by 7, and then add in your debts. It’s as easy as that. That’s how much life insurance you need.

 

Getting Life Insurance

Hopefully, you have all the info you need to get quality insurance protection. We know buying life insurance isn’t the most enjoyable purchase, but you should suck it up and do it!

If you don’t have life insurance, and you were to pass away, what would happen to your debts? They are going to your family, will they have enough money saved up to clear those debts? Probably not.

Sure, you can go the long way and call the companies yourself, or buy a policy from one of your friends, but it’s probably not going to be the best choice. It’s our mission to help you get quality coverage at the lowest price.

About Jeff Root

is the owner of rootfin.com. He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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2 Comments

Rodney Small

I am 48yrs old. I am interested in life insurance. I have a mortgage that I owe 80,000, and I have a 16yr old daughter that will be attending college. Which insurance is best for my situation?

November 17, 2015 at 11:46 am
    Jeff Root

    Rodney, just going off that information, I’d buy an $80,000 policy on a 10 year term. In 10 years your mortgage will be paid down enough and your daughter will be in the workforce and be able to make it if you weren’t around.

    October 16, 2016 at 9:21 pm
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