If you are looking for low cost life insurance quotes for 47 year olds, you have come to the right website. Sample quotes are shown below or use the instant life insurance quote calculator on this page for a custom quote. Our quote software will pull up the least expensive rates from the nation’s leading insurance companies for your situation.
Whether you’re male or female we have provided quotes for both genders.
Every family has their own specific needs when it comes to buying life insurance and many families will find that term life insurance is exactly what they require.
Reasons to Buy Term Life Insurance for 47 Year Olds
There are many valid reasons why term life insurance is the perfect choice. But, did you know that most Americans who have already bought some form of life insurance, either through their employer or on their own, are under-insured?
Most experts suggest that the optimum amount of life of insurance coverage that you should have should be the equivalent of 10 X your current salary. The average cost to raise a single child to the age of 18 costs $245,000 in the U.S.
So, if your thinking about how life insurance you should get then these are some of the main reasons you might want to consider when deciding how much you need:
• Income replacement – If you were to die unexpectedly you need to ask how your family will cope when they no longer have the benefits of your pay check.
• Debts – Even after you are gone, someone will still be obligated to pay any outstanding debts that you might have incurred such as for credit cards, your car lease and for personal loans.
• Children’s Education – Everyone wants their child to succeed in life, but with the spiraling cost of education, will they be able to afford a college education?
• Funeral Costs – Nobody likes to think about dying but it happens to all of us. The average cost of a funeral in the U.S. is around $10,000.
• Business Insurance – Many people are self-employed these days but have not taken out any business life insurance. This is especially important if you are a sole proprietor or have a small business with just a few employees. Even after you’re gone, there are costs to not only dissolve the business but also to take care of any outstanding financial obligations to suppliers and clients.
• Health Care Costs – Even though you have a health care plan, will it be enough to cover all your financial needs if you incur a long term disability?
• Mortgage – If you own a home, will you have enough to ensure that the mortgage is paid for so your family can remain in the home?
As you can see, deciding how much life insurance you need takes a lot more thought and planning than just picking any old number out of the air. Take your time in considering the reasons you want life insurance.
Sample Quotes of Reasonable Priced Term Life Insurance for 47 Year Olds
Here are some sample quotes that we researched for both males and females who are 47 year olds.
Term life Insurance – 47 Year Old Male rated as “Preferred –Non Tobacco” health class which means only minor health issues.
Monthly Rates for Term Life Insurance – Male
|10 Year Term||$14.29||$24.88||$43.75||$76.50|
|20 year Term||$22.49||$40.38||$73.60||$137.90|
|30 Year Term||$36.40||$67.81||$128.95||$241.30|
Term Life Insurance – 47 Year Old Female rated as “Preferred-Non Tobacco” health class rating which means minor health issues
Monthly Rates for Term Life Insurance – Female
|10 Year Term||$13.12||$21.63||$37.15||$65.20|
|20 year Term||$17.35||$31.72||$55.90||$111.30|
|30 Year Term||$27.30||$49.66||$99.40||$171.50|
(Life Insurance Calculator) – To compare rates from the nation’s leading life insurance companies for your exact age – please use the Instant Life Insurance Quote calculator on this page.
If you want to get an idea of how much life insurance you need, please use our life insurance needs calculator which will help you determine the right amount for your unique situation.
Permanent Life Insurance Options for 47 Year Olds
Even though term life insurance is the most affordable there could be other life insurance options more suitable for your needs.
The other type of life insurance which is available is known as “Permanent Life Insurance” and includes other types of policies such as Universal Life, Indexed Universal Life, or Whole Life for example.
The primary difference between term and permanent insurance is that term insurance provides death benefits only. This is also provided by permanent insurance, but these types of policies include a cash value accumulation feature that grows over the life of the policy. You can borrow against this cash in the future for any purpose without penalties.
Permanent life insurance can also provide some tax benefits which can be handy if earn a lot of money or if you have estate issues and can be used to maximize your 401(k).
Always talk to an independent agent so you can get the best possible information on these types of products.
No Exam Life Insurance for 47 Year Olds
If you hate needles and want a policy quickly then consider getting a No Medical Exam Life Insurance policy. These types of policies do cost a bit more but you can be approved in as fast as 2 days or even as quickly as 15 minutes….just ask and we will point you in the right direction. These policies offer convenience especially if you are in a hurry so this might be the perfect choice for your particular needs.
Where to Find More Low Cost Life Insurance Quotes for 47 Year Olds
It doesn’t matter whether you’re in excellent health or if you have a serious health condition because we at Abrams Insurance Solutions have access to over 70 life insurance companies. We are experts at guiding our clients to apply with the life insurance company that will offer the lowest premium for your situation.
If you are 47 and have questions or need some advice on obtaining low cost life insurance, then call us at 858-703-6178 or email us to get the process started.