Obtaining Life Insurance at 47 Years Old

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Life Insurance Quotes for 47 Year OldOne thing that can be a constant source of amazement for people in their 40s, is the fact that term life insurance is not all that much more expensive than it was when they were in their 30s. Of course the rates are going to go up each year as you get older, but most people in their 40s are surprised at just how cheap they can get a life insurance policy for.

Regardless of how old you are, it’s possible to get affordable life insurance coverage. One of the most common reasons that people don’t have life insurance protection is because they assume that it’s going to be too expensive. In most cases, that couldn’t be further from the truth. Not having life insurance is one of the worst mistakes that you could ever make for your loved ones. Don’t let your age keep you from getting the insurance protection that your family deserves.

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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. We also have some reviews available such as our State Farm Life Insurance Review to help you make the best decision for you and your family.

Cheap Term Life Insurance Quotes for 47 Year Olds

To get you started, we have prepared a table full of sample rates for you to go over. Please keep in mind that these rates are just samples and they should be used as guidelines only. This is because the rates fluctuate daily so if you want to find your accurate, up-to-date rate then your best bet is to use our free online quote calculator, that is featured on our website.

The rates listed below are for NON-SMOKERS. If you are a smoker, the rates will generally be double the rates seen below.

Term life insurance for a 47 year old male “Preferred” health class (minor or no health issues), monthly rates:

                              $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

Term life insurance for a 47 year old male “Standard” health class (controlled health issues), 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 (minor or no health issues), monthly rates:

                               $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 all you’re looking for is the cheapest term life insurance possible, all you need to do is seek out an independent life insurance agency who can contact all the top-rated life insurance companies in your area. This same agent can also help you compare these quotes side-by-side and help you pick the policy that is best for you. If you’re healthy though, our online quote tool will provide up-to-date and accurate rates, which are the same ones we would give to you if you were to contact us directly. All you need to do is choose the cheapest option. If you have health issues and wondering if you can qualify for life insurance if you’re overweight, we can answer this question and help you obtain the coverage you deserve.

If you have any pre-existing conditions or a complicated medical history though, we will first need to qualify your health before we can do any research on your behalf. Since every life insurance company has a different way in which they assess risk, we will need to contact each one of them individually to find the best rate. This is something that could easily take you several days to do, so having an agent on your side is extremely helpful.

Since we do this day in and day out, we have become experts in our field and we always try to find our customers the best rates possible. Unlike a traditional insurance agent that you can work with, we represent dozens and dozens of highly rated companies across the nation. That means that we can bring all of the lowest insurance premiums directly to you.

If you tried to get all of these insurance quotes by yourself, you could spend hours and hours on the phone. Instead of wasting all of that time, let one of our agents do the dirty work for you.

May the BEST quote win!

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Choosing the Best Life Insurance Policy at Age 47

The first thing you need to ask yourself is what you’ll be using this policy for. Is it just to replace your income for your spouse? Or is it the cover any mortgages and outstanding debts that you may still have? Or are you trying to cover your children’s college expenses? Your answers to these questions will help you figure out just what type of coverage you’ll need.

After that it is time to think about term length. If you’re trying to protect your income then you want to take out the policy that will last until you retire. If it is to cover any of outstanding debts or mortgages, then you’ll want a policy that lasts until you feel they will be paid off. If it is for your children to cover their college expenses, then you need to figure out how long it will be that they will be in college for. Once again, your answers to these questions will help you figure out just what type of policy will be right for you.

For most people, the point is not to break the bank trying to pay for life insurance but to get something in place to protect their families. We always say that it is better to have some insurance than no insurance so find something affordable that you can pay for comfortably.

Consider Guaranteed Universal Life Insurance

Many people out there are simply looking for a life insurance policy that will never expire, and those people should consider guaranteed universal life insurance. This policy is quite popular for people in their 40s who are looking for the cheapest amount of life insurance that will never expire. It is also referred to as term for life because it is a permanent life insurance policy that maintains level premiums for life. You can compare these policies on our website as well.

Many people in their 40s will end up taking out a combination of guaranteed universal life and term coverage. They tend to buy majority of their coverage in term life insurance and add on a smaller amount in permanent coverage so they have something to depend on once the term life insurance expires.

Bottom Line

Remember to always work with an independent life insurance agency who can explore all of your options for you. We know there is a lot of information here to take in all at once so please do not hesitate to contact us if you have any questions whatsoever. Also don’t forget to use the free tool on our website if you have any questions about how much life insurance should cost you.

You can’t predict the future, which means that you shouldn’t wait any longer to get the life insurance coverage that your family needs. If you didn’t have life insurance coverage, and something tragic were to happen to you, your family would not only suffer emotional pain, but they would struggle with financial troubles as well.

We know that nobody wants to think about his or her own death, but not planning for the inevitable is one of the worst mistakes that you could make. If you have any questions about getting affordable life insurance for a 47-year-old, please contact one of our agents today. We would be happy to answer those questions and connect you with the best plan possible.

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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