If you’re 46 years old and you do not have life insurance or you’re thinking about getting additional coverage to protect your family, then this article is meant for you.
Now for most people seeking to buy life insurance in your 40s finding inexpensive life insurance is not hard and you should still be able to find it for a very low price. However, it can also begin to get really expensive if you make some common mistakes. Below are just a couple of things that you should consider in order to get the best deal on your life insurance at age 46.
Life Insurance for 46 year olds.
This tip is mainly for those of us who avoid going to the doctor. Basically, if you haven’t had a physical in the past year or more, and you’re not currently taking any prescription medications, why run the risk of having an insurance company diagnose you with one of the common ailments that plague many in their 40’s? We are referring to:
- high blood pressure,
- high cholesterol, or
- elevated blood sugar leading to diabetes.
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 life insurance 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 among 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. Go with an alternative policy that offers coverage with a no medical life insurance option first. See Exam versus No Exam.
TermLife2Go specializes in placing both medical and no 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.
Tip #2. Get the life insurance now!
Age is typically going to 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 46 year old males and females looking for cheap life insurance, waiting only means one thing: life insurance is going to cost more when you finally decide to take the next step and apply.
Here are some examples of what a 46 year old can expect to pay for $250,000 of life insurance with a 20 year fixed term.
For a preferred plus male age 46, a 250,000 20 year term will run $362.50 annually or $31.72 a month.
For a preferred plus female age 46, a $250,000 30 year term will run $290 a year or $25.38 a month.
For more on how age affects premium see our life insurance rates by age chart.
#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.
Our job at TermLife2Go is to know about the various life insurance niches. Niches such as marijuana users, overweight, diabetes, foreign residents, etc… If you truly want the best deal out in the life insurance market place then it is imperative you give us a call and let us guide you to the best company for your specific situation.
#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. TermLife2Go has access to dozens of top rated life insurance companies, each with their own specific niche. And as more and more carriers see the value in niche marketing, that list will continue to grow.
TermLife2Go also has a 4 Step Process for getting people with preexisting conditions life insurance. We truly go the extra mile for our clients.
Ultimately, 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 the right type of policy, whether it be Term, Whole Life, and Universal Life etc..
- 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.