Life Insurance At Age 38
If you are shopping for life insurance at age 38, then you are
probably concerned about leaving a financial burden on your loved ones. Most shoppers look for life
insurance at age 40 so that they can lock in a low rate while they are young and in perfect
health. Many parents will also purchase life insurance for their children at this age. One thing
you can be sure of is that you have plenty of choices for life insurance coverage and the cost is
very affordable. Learn more about your options and compare rates from several
highly rated carriers.
Life Insurance At Age 38 - Your Options
You have two basic options for life insurance at age 38 - term
life insurance and permanent life insurance. Term life insurance is
temporary coverage that can last anywhere from one year or as long as 30 years, depending on the company that you
choose. Term is very affordable coverage because you can get a lot of coverage for a very reasonable premium.
Unlike term insurance, permanent life insurance will last you for your entire lifetime, as long as you continue to
pay your premiums. Your policy will also accumulate cash value on a tax-deferred basis. Whole life and universal life are the 2
most common permanent coverage options.
Life Insurance At Age 38 - Sample Rates
Here are a few sample rates for life insurance at age 38. These are based on a non-smoker with a preferred
health rating. Your rate could be lower or higher depending on your situation.
$500,000 20 Year Term Life Insurance:
38 Year Old Male - $570 per year
38 Year Old Female - $445 per year
$200,000 Level Pay Whole Life Insurance:
38 Year Old Male - $2075.00 per year
38 Year Old Female - $1785.00 per year
Keep in mind that the actual rate that you will pay is going to depend on several variables such as your smoking
status, your health history, your family health history, your occupation and hobbies, and even your driving
history. Life insurance companies look at all of these things when determining your eligibility for a policy.
Life Insurance At Age 38 - Health Problems?
Although most 38 year olds have excellent health, there are some people who have pre-existing health
conditions from birth or other things that have developed during childhood or the teenage years. In most cases, you
can still get affordable rates for life insurance at age 38. The type of policy that you can qualify for and the rate you pay
will depend on what that particular health issue is. For example,if you have juvenile diabetes, then some
insurers will offer you a standard rate if your A1C is 7 and below. If you have some heart problems, then you
may only qualify for a guaranteed issue life insurance
policy. It is best to speak with an experienced agent about your particular health situation because he or she
can guide you towards the best carrier for your needs.
Life Insurance At Age 38 - Get Started Today
The first step when shopping for life insurance at age 38 is to shop around. Rates can vary by as much as 70%
from one company to another so it definitely pays to compare. Get a free no obligation
quote today and compare multiple quotes from highly rated carriers. This will ensure that you get the most
competitive quote for your age and your overall needs.