30 Year Term Life Insurance Rates- Good Finanical Cents

In this day and age when you buy something, it always comes with an extended warranty.

It usually costs extra but the intent is to give you peace of mind for the lifetime of that product.

Unfortunately, many of these extended warranties only last maybe another three, four, or five years.

What if you could buy a product that offered a 30-year guarantee?

Would that give you the peace of mind that you need?

When buying life insurance, if purchasing a 30-year term life insurance policy, it will do just that.

So many things can happen in our lives; new kids, new jobs, new homes, more stress. A lot of life situations can lead to drastic changes in our health.

Where you may be a fit triathlete today, who knows what can happen tomorrow?

Why not have the peace of mind of locking in a 30-year term life insurance policy when you’re at your best health?

I’m amazed when I talk to young individuals that only want to purchase a 10-year term life insurance policy, or sometimes a 20-year term life insurance policy. The most common reason I hear is they want to save money.

Well they might be saving money in the short term, they don’t realize what could happen in the long term. I’ve seen several instances of individuals that were what my friend would call “superfit” and easily qualify for a preferred plus rating, but circumstances beyond their control lead to a deterioration of health.

So if they want to renew the policy, when their other term policies are coming to an end, they’re now going to have to pay a much higher rate if they can get any insurance coverage at all. It seems to me the most common item overlooked when buying a 30-year term policy is that if your needs change where you don’t need it anymore, then you just stop paying it. A 30-year term policy does not mean that you are locked in for a 30-year contract. It just means that you have the right to be insured for that time period. So if your needs ever change, it’s as simple as not making the payment anymore.

30 year life insurance with big savings.

Before buying a 30-year term policy, it’s important to compare all the different options and all the different insurance carriers at once. If you’re going to buy a contract for that period of time, you want to make sure that you’re buying it with the highest rated carrier possible. One measure that you can use is A.M. Best’s rating scale to see how the insurance company compares to its peers. When comparing rates, if you can save $10 a month by purchasing an insurance carrier with an A- A.M. Best rating versus an A.M. Best A+ rating, it would behoove you to pay the extra money to go with the more highly rated carrier.

What if you have pre-existing conditions?

Another common fear that individuals have in purchasing a 30-year term life insurance policy is that if they have health conditions, will that prevent them from not getting approved? Absolutely not. Just because you have high blood pressure, high cholesterol, diabetes, or any other high-risk condition, does not mean that you’ll get denied when applying for a 30-year term life insurance policy. What that does mean is that you may pay a higher rate.

When applying for the life insurance policy, make sure to be transparent with the underwriters in sharing everything that you can about your condition.

The more you share in the beginning will help your case when trying to get the approved coverage.

Can you get a 30-year term policy without a medical exam?

You sure can. This is sometimes called simplified issue or guaranteed acceptance life insurance policies. While you can qualify for these, it will most often be much cheaper to go the traditional underwriting route, but if you want to avoid the six- to eight-week process and you’ve never been denied for insurance, then getting a simplified issued policy will be as simple as answering a few questions and getting your policy delivered in approximately three business days.

There are a view advantages and disadvantages of these plans that you should be aware of before you purchase a plan without a medical exam. The first advantage is that anyone can purchase theses insurance policies, regardless of health or any preexisting conditions. Regardless of your health, you shouldn’t have to go without life insurance protection.

The next advantage is that you can get insurance protection much quicker than you would with a traditional insurance plan that requires you to take a medical exam before getting coverage. Because you don’t have to wait to take the medical exam or wait for the results, you can get insurance protection in a matter of days versus up to a month with a traditional insurance plan.

Just like every other type of plan, there are pitfalls that come along with these plans. One of them is the cost. A no exam plan is going to cost much more than a plan that requires the medical exam before you get approved for coverage. Because the insurance company doesn’t get as much information about your health, they are taking more of a risk by insuring you. They are going to offset that risk by charging you more every month. If you want to get the most affordable life insurance plan, you’ll want to choose a plan that requires a medical exam.

Another disadvantage to these plans is that there is a limit on how much coverage you can get. With a 30 year no medical exam, you’re going to be drastically limited on the amount of coverage you can get with your life insurance plan.

Quotes on a 30-year term life insurance.

A 30-year term life insurance policy does not cost as much as you think it would. Many people just assume that since it’s such a long term, that the costs are astronomical. It’s far from it.

Here are some examples of how much a 30-year term policy costs for both males and females.

$250,000 30 Term Policy Rates

Sex	AGE	30Yr Term Life Policy	Company 1	Company 2	Company 3
Male	25	Face amount $250,000	BANNER LIFE $212	GENWORTH FINANCIAL $225	MINNESOTA LIFE $230
Male	35	Face amount $250,000	BANNER LIFE $253	GENWORTH FINANCIAL $260	SBLI $263
Male	45	Face amount $250,000	GENWORTH FINANCIAL $518	BANNER LIFE $520	SBLI $528
Female	25	Face amount $250,000	SBLI $178	AMERICAN GENERAL $179	MINNESOTA LIFE $180
Female	35	Face amount $250,000	GENWORTH FINANCIAL $223	SBLI $223	BANNER LIFE $223
Female	45	Face amount $250,000	SBLI $420	BANNER LIFE $423	GENWORTH FINANCIAL $426

$500,000 30 Term Policy Rates

SEX	AGE	30YR TERM POLICY	COMPANY 1	COMPANY 2	COMPANY 3
MALE	25	$500,000 FACE AMOUNT	BANNER LIFE $360	AMERICAN GENERAL $369	GENWORTH FINANCIAL $381
MALE	35	$500,000 FACE AMOUNT	BANNER LIFE $440	GENWORTH FINANCIAL $442	AMERICAN GENERAL $454
MALE	45	$500,000 FACE AMOUNT	BANNER LIFE $975	GENWORTH FINANCIAL $976	AMERICAN GENERAL $979
FEMALE	25	$500,000 FACE AMOUNT	AMERICAN GENERAL $289	VOYA (FORMERLY ING) $293	SBLI $295
FEMALE	35	$500,000 FACE AMOUNT	AMERICAN GENERAL $379	GENWORTH FINANCIAL $380	BANNER LIFE $380
FEMALE	45	$500,000 FACE AMOUNT	GENWORTH FINANCIAL $770	SBLI $780	BANNER LIFE $780

$1,000,000 30 Term Policy Rates

SEX	AGE	30YR TERM POLICY	COMPANY 1	COMPANY 2	COMPANY 3
MALE	25	$1,000,000 FACE AMOUNT	BANNER LIFE $645	NORTH AMERICAN CO. $645	TRANSAMERICA $650
MALE	35	$1,000,000 FACE AMOUNT	BANNER LIFE $795	GENWORTH FINANCIAL $804	VOYA (FORMERLY ING) $808
MALE	45	$1,000,000 FACE AMOUNT	BANNER LIFE $1,885	GENWORTH FINANCIAL $1891	AMERICAN GENERAL $1,894
FEMALE	25	$1,000,000 FACE AMOUNT	AMERICAN GENERAL $514	NORTH AMERICAN CO. $515	SBLI $520
FEMALE	35	$1,000,000 FACE AMOUNT	SBLI $640	AMERICAN GENERAL $694	GENWORTH FINANCIAL $695
FEMALE	45	$1,000,000 FACE AMOUNT	SBLI $1,450	BANNER LIFE $1,455	AMERICAN GENERAL $1,456

As you can see, one of the biggest determining factors in calculating your monthly premiums is how much coverage you’re going to pay. It’s vital that you get enough life insurance coverage for your family.