The best way to get the most favorable rates on a $50,000 life insurance policy is to compare rates amongst many insurers. The days of an agent coming over your home and giving you quotes from only one company are done with, now everything is done online.
"You get the best rates when many companies quote you"
Insurance companies are not all the same, that's why it's good to quote several. Some are more familiar with certain situations, for example, like diabetes, and are able to offer better rates than others.
Because it's so easy to get a few quotes online, it's worth it to shop around in order to get the best premiums for your situation.
$50K is not a huge amount of money, so being approved may not be too difficult. Plus, you could always go with a guaranteed issue policy that gets approved without a medical exam or visit from a medical professional.
These policies are perfect to pay for final expenses like a funeral and paying off some debts.
The policy premiums will depend on many factors like: age, health condition, tobacco user, previous illnesses, risky activities, etc.
The policy rates will vary a lot depending on some major factors like, your health, your age, tobacco or drug use, previous medical conditions.
Monthly average costs for a $50,000 term life insurance policy, for a period of 10 years, for a woman in good health and non-smoker:
|65 years old||$40.25|
|66 years old||$43.80|
|67 years old||$45.85|
|68 years old||$50.10|
|69 years old||$53.84|
|70 years old||$58.72|
|71 years old||$64.90|
|72 years old||$68.25|
|73 years old||$75.83|
|74 years old||$84.25|
|75 years old||$94.18|