Finding the cheapest life insurance rates by age requires options. At TermLife2Go, we provide our client with options from dozens of top rated best ranked life insurance companies, including no medical exam life insurance policies. Call today to see how we can help you save on life insurance at age 45.
Life Insurance at age forty-five (45).
If you’re 45 years old and you do not have life insurance yet or your thinking about getting additional coverage to protect your family, then this article is meant for you. Life insurance at age 45 can be super inexpensive if you know where to look, but it can also begin to get really expensive if you make some common mistakes.
And just so you know, getting a million dollar life insurance policy with an exam and without an exam is available.
Now if you are buying life insurance in your 40s, here are just a couple of things that you should consider in order to get the best deal on your life insurance at age 45.
For clients seeking life insurance at age 45, if you haven’t had a physical in 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 common ailments that plague many in their 40’s.
Ailments such as:
- high blood pressure,
- high cholesterol,
- or elevated blood sugar (see diabetic life insurance).
Most fully underwritten life insurance policies, but not all, are going to require a medical exam which is paid for by the insurance company. This medical exam will help the insurance company determine what type of risk that you pose.
This information will be used to determine what rate you will receive and whether or not the insurance company wants to insure you at all. This information will also be shared amongst the other insurance carriers so that they can protect themselves against risk.
Which is why if you’re not sure that the medical exam is going to come back perfect, don’t take one. If you are looking for life insurance at age 45, go with an alternative policy that offers coverage with a no medical option first. For more on this, see Exam v. No Exam.
TermLife2Go specializes in placing both medical and no medical term life insurance policies and have found that many of the no medical options are currently as competitive if not more competitive than those requiring full medical exams.
#2. Get it now!
Age will most likely be the number one determining factor in the premium you pay. For this reason, today really is the cheapest life insurance is going to get for you. So don’t delay!
Now there may be a few situations where it may make sense to delay getting coverage immediately, such as when:
- 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.
But for most people applying for cheap life insurance who are age 45, waiting only means one thing: life insurance is going to cost more when you finally decide to take the next step and apply.
#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. Which is important to know because some may have companies really strict guidelines when it comes to certain conditions while others may not consider it an issue at all.
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 “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 zero in 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, it’s key for you as a consumer to work with an agency that is not bound to any one specific carrier and will really have your best interest at heart.
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 by not only offering the best rates but by also being the “right fit” for you when it comes to the underwriting process
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, choosing from among the different types of life insurance, whether it be Term Life Versus Permanent 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.