Obtaining Life Insurance at 47 Years Old

Life Insurance Quotes for 47 Year Old

You probably haven’t thought about your life insurance in a long time. Most people bought a plan when they were in their 20s, and it’s been sitting there ever since.

Hopefully, you have life insurance coverage. If you don’t, why haven’t you bought any? Do you think you don’t need it, or do you think it’s too expensive? Both of these are wrong.

Click here to access free, instant quotes.

Whenever someone asks, we always encourage them to run an instant life insurance quote to see just how inexpensive life insurance can really be. If you are concerned about qualifying for life insurance with diabetes, we can help ease your mind and get you the coverage you deserve.

Not only can we help you get the cheapest rates, but we can also help ease your mind knowing you’re buying coverage from a reputable carrier. We’ve taken the time to outline all of the most popular companies out there, like our State Farm Life Insurance review. 

Cheap Term Life Insurance Quotes for 47 Year Olds

Without knowing more about you, we can’t tell you exactly what you’re going to pay, but we can give you a rough estimate.

Term life insurance monthly premiums for a 47 year old male “Preferred” health class, doesn’t smoke:

$50,000 $100,000 $250,000 $500,000 $1,000,000
10 year term               $11        $14          $25          $44           $79
15 year term               $14        $17          $31          $57           $109
20 year term               $16        $22          $40          $74           $144

Same 47 year old male, but “Standard” health class monthly rates:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term               $15         $18           $37           $68           $129
15 year term               $18         $24           $49           $92           $172
20 year term               $22         $30           $62           $122         $226

Term life insurance for a 47 year old female “Preferred” health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term                $10         $12           $21           $37            $65
15 year term                $12         $14           $25           $45            $84
20 year term                $13         $17           $32           $57            $107

Term life insurance for a 47 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          $14           $26           $46            $86
15 year term              $15          $19           $39           $73            $138
20 year term              $18          $23           $48           $89            $167

How to Save Money on Your Life Insurance

If you’re worried about the price for your life insurance coverage, don’t worry, it’s not as bad as you might think. Sure, you won’t get as cheap of a plan as you would as a 20-year-old, but it won’t break your bank.

When you apply for life insurance, the company is going to want a complete view of your health, and the starting point is your age. Luckily, there are a lot of other factors after that you can improve.

Before you even think of applying, there are some improvements you can make. Eat healthy, start exercising, go to the doctor, do whatever it takes to get healthy. Sure, it can be a lot of work, but it can also save you thousands of dollars. Talk about motivation, right?

The next thing you should do is find the perfect carrier. Not every insurance company is made the same. Some of them offer more reasonable prices than other companies.

There are a lot of companies which specialize in giving plans to middle-aged applicants. While other companies prefer to give life insurance to younger customers, those companies are going to charge you drastically more. You need to find one of the companies with the cheapest premiums.
How do you find one of those companies? Well, you have two options.

The first one is to start calling carriers. You won’t know the rates until you talk to the agents. Because there are so many companies, you could spend days and days calling them.

The other option (and the more time efficient) is to use an independent company. If you want to get the rates from the best companies, but you don’t want to call all of them, you can fill out the quote form or contact one of our agents.

May the BEST quote win!

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Choosing the Best Life Insurance Policy at Age 47

Aside from picking a carrier, you also have to choose a plan. Each company will have more than one option. You can choose the standard term insurance option, or you can pick one of the other choices out there.

In the majority of cases, term coverage is going to be the best option. It’s the most affordable and lets you get the most coverage for your buck.

One of the unique benefits of term coverage is you can customize the plan to meet your needs. They aren’t permanent coverage, you can buy a plan which is only effective for the length of your needs. You can buy term insurance for 2 years or 30 years.

If you want longer coverage, you should compare the permanent options. Whole life, universal life, indexed universal life, and more. Each of these plans offer slightly differing advantages.

Don’t get overwhelmed by all the options. Take your time to look at each policy and consider if it will meet your needs.

Bottom Line


Life insurance is important. End of story. But a lot of people shy away from buying a policy because of the cost. People want to save money, and to them, life insurance seems like a waste of money.

Don’t think life insurance is a waste!

Your debts are going straight to your relatives. They would have to pay thousands and thousands of dollars. Life insurance helps them pay off those debts and get through the emotional pain without having to worry about money.

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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