We help our clients find the lowest price life insurance rates by age by providing each client with the best life insurance companies in the USA, including no exam life insurance, for that specific client.
No two companies or clients are the same. That is why having choices is essential for finding the cheapest life insurance at age 49.
Life Insurance at age 49.
If you’re 49 years old and you do not have life insurance yet or your thinking about getting additional coverage, then this article is meant for you.
Life insurance at age 49 can still be really inexpensive if you know where and how to look. But you are going to want to act fast because once you hit your 50s, rates really begin to increase. Therefore, buying life insurance in your 40s is key.
And just so you know, getting a million dollar life insurance policy with an exam and without an exam is available.
So before you make any decisions, be sure to consider the following:
4 Tips to finding the best rates on life insurance at age 49.
#1. If you don’t know, don’t test!
If you haven’t scene your primary care physician or had a physical within the past 12 months, and you’re not currently taking any prescription medications, don’t run the risk of having an insurance company diagnose you with one of the following ailments:
- high blood pressure,
- high cholesterol,
- or elevated blood sugar (see diabetes life insurance).
Because being diagnosed with any one of these aliments will increase amount the premium that you will pay for your life insurance.
Additionally, you should know that insurance companies will share the information obtained during an application with one another. So, once an insurance company performs a medical exam on you, that information will be recorded and stored for other insurance companies to review in the future.
For this reason, if you’re not sure that your medical exam is going to come back perfect, don’t take one. You would be served by going with an alternative policy that offers coverage with a no medical exam option first. See, exam v. no exam.
TermLife2Go specializes in placing both medical and non medical term life insurance policies and have found that many of the non medical options are currently as competitive if not more competitive than those requiring full medical exams.
#2. Get it now!
An applicant’s age will usually be the number one factor determining the premium that will be charged. So today really is the cheapest your insurance is going to be for you. So don’t delay!
*** It should be noted that in some cases delaying getting coverage may make sense, for example:
- You are currently trying to stop smoking and need to wait a year to get non-tobacco rates.
- You need to wait a year to clear up a DMV issue.
- You have a pre-existing medical condition that may require a waiting period before a life insurance company will underwrite you.
However, for most 49 year olds looking to buy life insurance, waiting only means one thing: your life insurance policy is going to cost more when you finally do decide to take the next step and apply.
$500,000 30 year term life insurance for a 49 year old at a preferred plus rate runs about $125 a month. That same policy jumps $10 a month for a 50 year old. That is $120 a year or $3,600 over the life of the policy. Obviously, it is better to lock in sooner rather than later.
#3. Not all Insurance Carriers are the same!
Each insurance company has its own rules and guidelines that it will follow when underwriting an application. Some insurance companies may have very strict guidelines when it comes to certain preexisting conditions while carriers may not even consider them at all. This is why it’s really important to know which carrier to use and why!
Now the good news is that the life insurance industry is just like every other industry out there competition is always pushing insurance companies to fight for your business. As a result, different life insurance carriers take on different “niches” in an attempt to gain market share. These niches may shift from time to time but generally life insurance companies become known within the industry to focus on certain groups.
Which brings us to our next point…variety is the key to saving money!
#4. Find someone that is working for you, not the insurance company.
With so many options to choose from and so many different carriers competing for your business, it’s essential for you as a consumer to work with an agency that is not bound to any one specific life insurance company. The agency that you choose should be able to shop your application to dozens of different life insurance carriers forcing them to compete for your business.
Only by choosing to work with an agency that represents multiple life insurance carriers can you ensure that you are getting the best policy to protect you and your family. After all…
Doesn’t it make sense to work with an agency whose sole focus is you?
Totally confused?…. Don’t be, this is where TermLife2Go steps in, as an independent agency our agents are committed only to you and your family. Our main goal is to help guide you through the process of:
- First, considering the different life insurance types, such as term life or whole life insurance
- Second, determining the appropriate coverage amount.
- And third, determining which carrier will give you the best rate available.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
We’d like to take a moment and let you know that we here at TermLife2Go don’t live in a bubble! And that fully understand how difficult it is for a family to simply “get by” nowadays. And while we would all love to be able to purchase a 100 million dollar term or whole life insurance insurance policy on ourselves so that our loved ones will be forever taken care of should we pass away too soon, but who can afford such things!
This is why…
We’ve also chosen to write several articles sharing some of the knowledge that we have acquired over the years working with 1000’s of clients concerning how they make a living.
Just about every time we complete a life insurance application for one of our clients, one of the first questions that we have to ask is:
“what do you do for a living?” and “what would you estimate your annual income as?
Which means that over the years, we’ve become really familiar with a wide range of different career paths and opportunities that a person can take.
Some of which you would probably never think of on your own!
Our number one goal here at TermLife2Go is to help individuals and families secure their own financial security and independence, we wanted to share with you what we’ve learned.