Check Term Insurance Rates Now!

When it comes to life insurance, it doesn’t have to be expensive. There are plenty of options out there, especially for healthy people.

Compare rates from different carriers and apply as soon as you need coverage. This could be when you take on a new financial obligation, like getting a mortgage or having a child.

 

Key Article Takeaways

Life insurance rates can vary widely, so it’s important to compare quotes from multiple providers before buying a policy. The rates below are just a sampling of what you might see when shopping for life insurance, and your actual rates may be different depending on a variety of factors. Still, this can give you a good idea of what to expect when researching life insurance options. 

 

Cheapest Term Life Insurance Companies for 2023

There are many factors to consider when shopping for life insurance, and the cost is certainly one of the most important. However, it’s important to remember that the cheapest policy isn’t always the best option. With that in mind, here are some of the most affordable companies for a 20-year, $500,000 life insurance policy for preferred Plus applicants.

 

Here are the lowest monthly rates for a very healthy male non-smoker.

 

Actual rates for a $500,000 20-year Term Policy

Company  Age 25  Age 35  Age 45  Age 55

Legal & General  $18.61  $21.56  $49.13  $126.16

Protective  $18.61  $21.56  $49.13  $126.17

Pacific Life  $18.90  $21.69  $49.42  $126.85

Corebridge
Formerly AIG  $18.63  $21.58  $49.15  $126.19

Lincoln Financial  $18.90  $23.83  $53.79  $128.37

The monthly rates are even better for a female non-smoker who is also very healthy.

Company  Age 25  Age 35  Age 45  Age 55

Legal & General  $15.19  $17.39  $36.23  $113.27

Protective  $15.19  $17.39  $36.23  $113.27

Pacific Life  $15.26  $17.38  $36.41  $113.27

Corebridge
Formerly AIG  $15.21  $17.50  $36.25  $113.65

Lincoln Financial  $15.47  $19.05  $39.47  $114.64

 

The term life insurance business remains ultra-competitive even after insurance companies paid out substantial Covid 19 related claims in 2020 and 2021. There is no better time to buy the cheapest term life insurance than today! The cheapest term life insurance is still a bargain in any state in the U.S.

 

Why we trust these stellar Companies for other than just Low Rates

Financial Ratings

A.M. Best:  A+

S&P Global: AA-

Fitch: AA-

COMDEX Score: 94 ot of 100

 

Better Business Bureau Rating

B+

Optional Riders

Additional 20-year Term Rider

Accelerated Death Benefit Rider

Children’s Term Rider

Conversion Option

Other Products

Universal Life

Whole Life

Final Expense

AD&D Insurance

 
 
Financial Ratings

A.M. Best: A+

S&P Global: AA-

Fitch: A+

Moody’s: A1

Better Business Bureau Rating

A+

Optional Riders

Accidental Death Benefit

Accelerated Death Benefit

Waiver of Premium

Disability Income

Additional Purchase Option

Children’s Term Rider

Other Products

Universal Life

Whole Life

Variable Life

Children’s Life

 
 
Financial Ratings

A.M. Best: A+

S&P Global: A+

Fitch: A+

Moody’s: A1

Better Business Bureau Ratings

B

Optional Riders

Conversion Option

Accelerated Death Benefit

Waiver of Premium Rider

Children’s Term Rider

Other Products

Whole Life

Indexed Universal Life

Variable Universal Life

Annuities

 

Formerly American International Group AIG

 

Financial Ratings

Fitch: A-

Moody’s Baa2

S&P Global: BBB+

Better Business Bureau Ratings

A+

Optional Riders

Conversion Option

Accidental Death Benefit

Waiver of Premium

Children’s Ter, Rider

Other Products

Whole Life

Universal Life

Survivorship Life

 

Financial Ratings

A.M. Best: A+

S&P Global: AA-

Fitch: A+

Moody’s: A1

Better Business Bureau Ratings

A+

Optional Riders

Conversion Option

Accelerated Death Benefit

Waiver of Premium

Children’s Term Rider

Accidental Death Benefit

Other Products

Universal Life

Indexed Universal Life

Variable Universal Life

 

How can I check Insurance Rates from Other Companies?

Because of 21st-century technology, checking life insurance rates is easier now than ever before. It’s so much easier that we recommend checking your rates against all the insurers that will publish them (most of them do) a few weeks before your policy is due to renew.

 However, if you prefer to have an insurance professional in your corner while shopping for life insurance, you can contact the team of experts at LifeInsure.com at 866-868-0099 during normal business hours. We represent most of the highly-rated insurers and would be happy to present your quote request to all of them and them, answer any questions you have, and walk you through the underwriting and purchasing process.

 

Frequently Asked Questions

Is term life insurance the cheapest?

The rates for term life insurance are much cheaper than Universal Life and Whole Life insurance.
 
 
How much life insurance do I need?

When you are considering purchasing life insurance, the amount you should purchase depends on the risk you need covered. For example, if you want to make certain your spouse can his or her living expense for 5 or more years, you’ll need much more coverage than you would if you only want to cover your final expenses.

 

Why is term life insurance so cheap?

Since term life insurance is not permanent and does not have a cash value component attached, it is much cheaper than permanent life insurance that lasts a lifetime and accumulates cash value.

 

What is the conversion option.

The conversion option allows for a term insurance policyholder to convert their policy to a permanent policy without having to prove insurability.

 
 

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The post Cheap Term Life Insurance – 5 Best Companies appeared first on Lifeinsure.com.

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