Inexpensive Life Insurance for 54 Year Olds [Instant Quotes]
Posted in Life Insurance in Your 50s last updated on June 6, 2020Inexpensive life insurance for 54 year olds is available! At Abrams Insurance Solutions we show you how to save time and money on your life insurance purchase at any age.
It doesn’t matter whether you are in great shape or have health issues. We shop the market for the best prices with the companies most lenient with any medical history you or a loved one may have.
To jump to a particular section, use the links below:
- Keeping premiums low
- Why use an independent agent?
- Term life rates
- Life insurance for smokers
- Permanent life insurance
- No exam life insurance
- How Abrams can help
(Use the INSTANT QUOTES form on this page to immediately view rates for your exact age. Rest assured these are the lowest rates available from the leading life insurance companies and there is no obligation. Please continue reading below to view sample life insurance rates for a 54 year old. You will also learn how you can save money on life insurance.)
Anyone and at any age can have a sudden need for life insurance. It is true that the cost of life insurance premiums increase as you get older. But, there are plenty of ways to save if you know how. And that’s where we can help.
Health issues (even minor ones such as high blood pressure, high cholesterol, weight) can all effect what you pay.
Life Insurance Tip: One thing many people don’t know is that NOT ALL INSURERS ARE THE SAME! The underwriting guidelines vary significantly from company to company. Some insurers are very strict while others are much more lenient and give a better rating. A better rating means you save money.
Independent agents such as the ones here at Abrams Insurance Solutions know which companies are more lenient. So, if you have a health issue or pre-existing condition, call us right now at 858-703-6178.
Finding Inexpensive Life Insurance for 54 Year Olds
There are several steps you have to follow when it comes to buying life insurance.
The very first thing you need to clearly determine is how much coverage you will need. The way to achieve this is to clearly define the what you want the policy to cover.
As this can be difficult for some who aren’t quite sure how big a policy to get, we have the perfect tool. It’s our easy to use Life Insurance Needs Calculator.
But, if you do have a good idea of how much you need you can get a quick life insurance quote which you can find on this page.
The second stage in finding inexpensive life insurance for 54 year olds is to ALWAYS use an INDEPENDENT LIFE INSURANCE AGENT.
Why Use an Independent Life Insurance Agent?
Independent agents don’t work for a single company like captive agents. Independent agents use the service of dozens of life insurance companies. And, we don’t use pushy sales tactics like you find with life insurance call center agencies. Instead, we provide the most suitable and affordable life insurance products for your family.
My last piece of advice is to tell you to never apply directly to a particular life insurance company. They can only give 1 quote – their quote. Most likely, you will be able to find a much cheaper policy using an independent agent who can get multiple quotes.
The other reason why you should never apply directly to an insurance company is because you might not get the best rating.
Sometimes, just a few points difference in your blood pressure or cholesterol levels can mean getting a different rating class. The maximum amounts they allow vary. Each change in a rating class can mean a 25% increase OR savings on what you pay.
If you have questions or need some advice – call us direct at 858-703-6178. We would be happy to discuss your situation in detail and provide you with a quote.
And if you need life insurance today, contact us for no-medical life insurance because we can get you approved fast. Or, if you simply want to start the process now, we can take your application over the phone.
Any man or woman who is looking for inexpensive life insurance for 54 year olds, and finds the rating (cost) is different than what we applied for – we may switch life insurance companies. Our goal is to see that you always get the least expensive policy.
Bottom Line: At Abrams Insurance Solutions, we will ONLY provide you with the life insurance protection you need. And, we will provide you with life insurance at the lowest possible price.
Term Life Insurance Quotes for 54 Year Olds
Here are some recent quotes for what you would pay monthly for a policy and for different health ratings.
Term Life Insurance Quotes for Non-Smoking 54 Year Old Man
Male – 20 Year Term Policy – $300,000 – 54 Years Old – Monthly Rate
Preferred Plus– $79.74
Preferred – $88.66
Regular Plus – $103.70
Regular – $156.96
Term Life Insurance Quotes for Non-Smoking 54 Year Old Woman
Female – 20 Year Term Policy – $300,000 – 54 Year Old – Monthly Rate
Preferred Plus– $57.29
Preferred – $66.68
Regular Plus – $73.87
Regular – $101.41
You can compare these rates to the cost of waiting by comparing them to the rates of term insurance at age 55 and age 56.
Life Insurance for 54 Year Old Smokers
If you are smoking at age 54, you can expect to pay more for any life insurance product.
Using the same rate comparison from above, a 54 year old male who smokes and wants to buy a $300,000 – 20 year term policy and gets the a Preferred health rating can expect to $286.70 per month.
A 54 year old Female smoker applying for the same policy can expect to pay around $192.46 per month for the same health classification.
It’s quite obvious that smokers will have to pay a lot more than what non-smokers pay for life insurance. However, as an independent life insurance agent, I will shop all of the smoker rates to make sure you receive the lowest cost on your policy.
Will you still have to pay expensive premiums even if you quit? The answer is no because if you quit for a year or more, many life insurers will be happy to re-evaluate you and give you non-smoking rates. The amount of time you will have to be nicotine free can vary from company to company.
This is a great way to save a lot of money and find inexpensive life insurance for 54 year olds.
Another thing to keep in mind is that some insurers will allow occasional use of tobacco products such as cigars, e-cigarettes or even marijuana. Most companies will charge full tobacco rates for occasional users, but here at Abrams Insurance Solutions we know which ones are more liberal.
Call us at (888) 905-0333 here at Abrams Insurance Solutions to help you find approval for non-smoking rates as we can help.
Permanent Life Insurance Rates for 54 Year Old Male and Female
For some 54 year olds, term insurance may not be the right choice. You might be seeking an alternative tax free investment vehicle to invest your money. Or, you might have a large estate and are concerned about liquidity and estate taxes.
Another reason to consider a permanent life insurance policy is because you want insurance coverage for life.
If any of these instances apply to you then you might want to consider a permanent life insurance policy.
There are many hybrid variations of permanent policies where you can find the right fit. The most flexible options available include Universal life and Indexed Universal life. Universal policies provide flexibility in how you make premiums and in the amount of death benefits.
The cash value accumulation portion of many Universal life insurance policies allow flexibility in how the money is invested. This provides you with greater control and comfort.
Those who are adverse to risk might want to opt for a Whole life policy which is much more rigid.
Another option available which provides coverage into your 80’s and later is a GUARANTEED UNIVERSAL Life insurance or GUL policy.
GUL policies provide an array of options to tailor your policy to suit your individual requirements. You can opt for a fixed premium to a specific age like 90, 95, 100 and up to age 121.
One of the main reasons why Guaranteed Universal policies are much more attractive than other types of permanent policies is because they are MUCH MORE AFFORDABLE. They are a fraction of the cost.
Finally, you also the ability to transfer the cash surrender value of an existing permanent life insurance policy to a GUL policy through a Section 1035 Exchange.
Choosing a permanent life policy of any type can be a difficult choice. To learn more about the one which suits you, then talk to us here at Abrams Insurance Solutions at 858-703-6178. We can help you find inexpensive life insurance for 54 year olds.
54 Year Old – No Exam Life Insurance
Many life insurers are advertising these policies because of their convenience. However, if you are relatively in good health, and aren’t in a rush to buy a policy, a fully underwritten policy may save you some money.
No-exam policies can be a good choice if you need life insurance right away or if you don’t want to take a medical exam. Even if you have a health issue, you should talk to us first so we can take a close look at your situation. You may still be able to find approval for a cheaper term policy with a medical exam.
Most no-exam policies generally ask a few health questions. Approval can be provided in 48 hours or less.
Here, at Abrams Insurance Solutions, we have found no-exam policies for clients up to $500,000 in coverage. Plus we can provide no-exam policies for both Term and Permanent life insurance. We would be happy to offer our expertise to you.
Call us here at Abrams Insurance Solutions at 858-703-6178 for no-exam, inexpensive life insurance for 54 year olds.
Why Health Ratings Matter
One of the main underwriting factors in finding inexpensive life insurance for 54 year olds is in how your health is rated by the insurance company.
Life insurers have as many as 16 rating classifications when it comes to your health. The best health rating, which is often known as “Preferred Best”, or something similar will give you the best rates on your premium. Each change in classification below that will cost as much as an additional 25% more on what you pay.
Even a few points difference in such areas like your weight, blood pressure and cholesterol levels can make a huge difference in what you pay per month. Any improvement that you can do to enhance your health can save you money.
Keep in mind that each life insurer is different in the cut off points they use. Some companies will not approve you if you have had cancer. Others will consider certain types of cancer for example.
This is another important reason why you should always use an independent agent like the ones here at Abrams Insurance Solutions. We can always find the most lenient insurer when it comes to health issues and save you money in the process. Call us now at 858-703-6178 to buy inexpensive life insurance for 54 year olds.
Why use Abrams Insurance Solutions for Your Life Insurance
The main reason why we suggest you use Abrams Insurance Solutions is because YOU SAVE MONEY.
The agents here are Independent Agents who have access to dozens of life insurance companies so we comparison shop on your behalf.
We can save you TIME, and can ensure you get the best price on your coverage. We are different from captive life insurance agents which only represent one company. A captive agent can only provide a single quote and you may not even receive approval through that insurer.
Need more reasons…. see 10 Ways We Save You Time and Money When Shopping for Life Insurance
Bottom Line:
We work for you and not the insurance companies. Our goal is to use our knowledge of life insurance underwriting and our extraordinary selection of companies to get you approved for coverage at the lowest rate available.
Start now by checking rates in the INSTANT QUOTES form on this page.
Need inexpensive life insurance for 54 year olds right now? Call Abrams Insurance Solutions today at 858-703-6178.
