Life Insurance for 81-Year-Olds

Whole Life Insurance Rates For 81-Year-Old Men

Monthly premium costs for a final expense policy for an 81-year-old man, broken down by whether the individual is a non-smoker or a smoker.

The first column represents the death benefit or the amount paid to your loved ones upon the policyholder’s death. The columns to the right represent the monthly premium cost for a non-smoker and a smoker, respectively.

Coverage amounts in this table range from $2,000 to $25,000, and monthly premiums range from $33 to $618. While the monthly premiums vary significantly, one thing to note is that for every $5,000 of coverage you would buy or consider adding, expect the rates to go up by $74 for a non-smoker and $123 for smokers.

Remember that the rates for an 81-year-old male may be relatively high compared to those for younger individuals.

As we age, the likelihood of death increases, making it more expensive for insurance companies to provide coverage. Additionally, as we age, we may be more likely to have health issues that could make us a higher risk for the insurance company.

Waiting until you are 82 years old to buy insurance is not recommended.

The average increase in monthly rates between 81 and 82 years old is around 7.5% for non-smokers and 8.6% for smokers. For example, your monthly rate of $10,000 of coverage can go up from $151 to $163 by holding off for a year.

How Much Is Life Insurance For An 81-Year-Old Woman?

Rates for women are lower than those for men of the same age.

This is because, on average, women have a longer life expectancy than men, so insurance companies may consider them less risky and therefore charge lower rates.

The coverage amounts range from $2,000 to $25,000, and because women typically live longer than men, rates do not increase as considerably. For example, for every $5,000 of coverage you add, you can expect the rates to increase by about $53 for non-smokers and $83 for smokers.

This table shows women’s final expense insurance coverage ranges from $2,000 to $25,000.

One thing to note is that Non-smokers have much lower rates than smokers, which is another benefit of quitting smoking. For example, a non-smoker would pay $25 for a $2,000 policy, while a smoker would pay $37.

Holding off on buying life insurance comes at a cost.

Waiting until your next birthday will increase your rates by almost 7%. For the same $10,000 of coverage, rates will jump from $109 to $116 if you push out until your next birthday. That’s an extra $84 per year.