When attempting to find the lowest life insurance rates by age it pays to have options. TermLife2Go works with dozens of top rated best life insurance companies, offering both exam and no exam life insurance.
Life Insurance at age 52.
If you’re 52 years old and you do not have life insurance yet or you’re thinking about getting additional coverage, then this article is meant for you. Life insurance at age 52 can still be pretty inexpensive if you know how to look. But you are going to want to act fast because once you hit your early 50s rates really begin to increase quickly. The good news is a million dollar life insurance policy is still within reach.
With that being said, let’s take a quick look at some really important things you need to know before you make any decisions on buying life insurance at age 52.
#1. If you don’t know, don’t test!
Here is the thing: if you are looking for cheap life insurance in your 50s and you haven’t had a complete physical with a blood draw within the past 12 months, and you’re not currently taking any prescription medications, don’t run the risk of having an insurance company discover that you have one of the following ailments:
- high blood pressure,
- high cholesterol,
- or elevated blood sugar (See life insurance with diabetes)
Because once you’ve been diagnosed with any one of these aliments, you will typically end up having to pay more for your life insurance then you would have had you not been diagnosed.
Additionally, it’s important to know that insurance companies will share the information collected during your application with one another on the medical information bureau. So, once an insurance company performs a medical exam on you, that information will be recorded and saved 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 much better off by going with an alternative policy that offers coverage with a non medical option first.
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!
Age will usually be the number one factor determining the premium that an applicant will pay. So today really is the cheapest your life insurance is going to be for you. So don’t delay!
***Now 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 52 year olds looking to buy cheap 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.
#3. Not all Insurance Carriers are the same!
This is particularly true for clients in their early 50s. As a consumer, it’s important to know that each insurance company has its own rules and guidelines that it uses when underwriting an application. Some insurance companies may have very strict guidelines when it comes to certain preexisting conditions while other carriers may not be concerned about 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 certain “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 life insurance carriers competing for your business, it’s key for you to work with an agency that is not bound to any one specific life insurance company. Your agent should be able to shop your life insurance 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 cheapest life insurance 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, selecting from among the different types of life insurance, including Term Life or Cash Value Whole Life.
- 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 acknowledge that at age 50, life can become really complicated and really expensive. Which is why we fully understand just how difficult it can be first qualify for a great term or whole life insurance policy and then be able to pay for it!
Who wouldn’t want to purchase a 100 million dollar term or whole life insurance policy on ourselves so that our loved ones will be forever taken care of should we pass away too soon, but when it comes down to choosing a place to live over an excessive life insurance policy, well it’s pretty obvious what most people are going to choose!
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.
And since we still have your attention…
One can assume that “most” folks who end up purchasing a term or whole life insurance policy do so, so that their loved ones would be protected “financially” in the event of their death.
But what happens if you get sick but don’t die?
Would your family’s financial future still be protected? Probably not. This is why we like to encourage folks to also take a look at some of our other articles that discuss other “types” of insurance policies as well so that regardless of what happens in the future, your family will be well prepared:
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