Life insurance with critical illness. Cheap Life Insurance Options for 52 Year Olds - Rootfin

We’ve lost so many great talents way too young at age 52 – Roy Orbison, Frank Zappa, Harry Nilsson, Christopher Reeve (Super Man) and Grace Kelly to name a few. I’m sure we all know someone in our circle of family and friends as well. Cheap life insurance.

Making sure your family is unaffected financially if you were to pass unexpectedly is so important and I know that’s why you’re reading this.

Lots of people who are over 50 and looking to buy life insurance are victims of the misconception that they can’t afford it. They think that life insurance increases a lot when they enter their 50s, which is true although life insurance will increase every year no matter what age you are.

There’s not any acceleration of these price increases when you hit your 50’s.

Your rates are directly rated to your health. Bad health equals bad rates. If you’re in your 50s, you might not be in the best shape of your life, which means you won’t get the best premiums.

Since you are likely to still have some sort of debt or mortgage at this age it would not be fair to put that financial burden on your family, especially right when they are grieving your death. A life insurance policy will protect them from that burden.

Cheap Term Life Insurance Quotes for 52 Year Olds

To help you start out in your search for life insurance quotes, we have prepared the following table of sample rates that you might expect to pay for life insurance.

These are only sample quotes of clients we’ve worked with in the past. Unless you’re identical to this client, your quotes are going to be different.

For example, these clients were both non-smokers. If you smoke, your rates are going to be much, much higher.

Term life insurance for a 52 year old male “Preferred” health rates, monthly rates:

$50,000 $100,000 $250,000 $500,000 $1,000,000

10 year term $15 $18 $36 $67 $126

Low cost health insurance

15 year term $19 $25 $49 $91 $177

20 year term $22 $32 $60 $116 $219

Same client, but “Standard” health class (controlled health issues), monthly rates:

$50,000 $100,000 $250,000 $500,000 $1,000,000

10 year term $21 $25 $53 $99 $192

15 year term $27 $33 $73 $140 $261

20 year term $31 $44 $93 $187 $356

$50,000 $100,000 $250,000 $500,000 $1,000,000

10 year term $12 $15 $29 $53 $95

15 year term $16 $18 $36 $65 $118

20 year term $18 $23 $45 $85 $162

Time life insurance company

$50,000 $100,000 $250,000 $500,000 $1,000,000

10 year term $17 $18 $36 $66 $126

15 year term $19 $25 $54 $100 $186

20 year term $24 $32 $72 $133 $254

Saving Money on Coverage

Hopefully, the numbers above don’t shock you too much. The rates for a 52 year old can be reasonable.

We’ve built relationships with more than 60 companies. Our interest is not giving business to them, but instead to get you the best rate we can.

We recommend you start out by using our free online tool that will help you find a quote. All this information is up-to-date and you can have a quote back to you in less than a minute.

If you have something atypical in your medical history whether past or present, then you will need to work with an agent. The agent will dig deeper into your health and get specific information about your condition.

Don’t worry though, we do this every day and can grab you the best possible plan.

Saving money isn’t always easy. You have to decide to make some tough changes. Remember how you’ve been wanting to quit smoking? Need extra motivation? How does a couple thousand dollars sound? This is what you’ll save if you finally quit.

Choosing the Best Life Insurance Policy At Age 52

Before you can buy a plan, you have to figure out why you’re buying a plan in the first place. The purpose of your life insurance is going to dictate the kind and size of policy you buy.

Benefits of life insurance

Think about how long you will need the policy for. Do you want coverage until you retire or when your mortgage is paid off? Do you want coverage forever?

One thing that many 52 year old people do is to take out a life insurance policy until they retire while also purchasing a burial insurance policy that stays the same rate for as long as they are alive.

A common option for 52 year olds is buying a 15 year term policy. They have life insurance until 67, and then the plan expires, which means no more premiums.

Because there are so many options, you can always find a plan perfectly tailored to meet your needs.

Two Other Types of Policies to Consider

In most cases, a whole life insurance plan is too expensive for a 52-year-old. Unless you want a small amount of insurance, a whole life insurance is probably going to be way too expensive.

Another good option is guaranteed universal life insurance which is a much more permanent answer that lasts until the day that you die. Guaranteed universal life insurance lets anybody get coverage, but only a small amount. You can run quotes on our website for guaranteed universal life insurance, otherwise known as “term for life”.

With either of these you are best off by purchasing a policy as soon as you can. A person who is 57 and interested in purchasing permanent life insurance will pay a lot more than a 52 year old. So getting a policy early will make a huge difference in how much you pay monthly.

Bottom Line

We definitely understand that your life insurance needs to be affordable. Your best bet to find a cheap plan is to use an independent insurance agency, like ourselves who can help you compare all of your options.

We can be your personal experts on life insurance. You don’t have to spend a hundred hours researching life insurance, we’ve already done it. You shouldn’t have to make such an important decision alone.