Term life insurance is an important financial product and the decision of how much coverage to purchase and at what age is a personal one. For individuals aged 32 and younger, term life insurance can be an attractive product, particularly for those who are married and/or have children as it provides financial protection in the event of an untimely death
In this article, we'll discuss the factors impacting the cost of term life insurance for 32-year-olds and provide tips for finding the right policy for you.
Burial Insurance
20-Year Term Life Insurance Cost (Men; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Men | No | 20 Years | $25,000 | Mutual of Omaha | $10 |
| 32 | Men | No | 20 Years | $50,000 | Prosperity Life | $14 |
| 32 | Men | No | 20 Years | $100,000 | Prosperity Life | $20 |
| 32 | Men | No | 20 Years | $250,000 | Prosperity Life | $40 |
The table above shows the 20-year term life insurance rates for a 32-year old male who is not a smoker. Mutual of Omaha offers a $25,000 policy for $10 per month
Prosperity Life offers policies for $50,000, $100,000, and $250,000 for $14, $20, and $40 per month respectively.
30-Year Term Life Rates (Male; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Men | No | 30 Years | $25,000 | Mutual of Omaha | $11 |
| 32 | Men | No | 30 Years | $50,000 | Prosperity Life | $17 |
| 32 | Men | No | 30 Years | $100,000 | Prosperity Life | $26 |
| 32 | Men | No | 30 Years | $250,000 | Prosperity Life | $55 |
This table shows 30-year term life insurance rates for a 32-year-old male who is not a smoker. It reflects the amount of coverage, the company offering the policy, and the associated monthly rate
For example, a policy of $25,000 of coverage with Mutual of Omaha costs $11 per month, while a policy of $250,000 of coverage with Prosperity Life costs $55. Rates vary widely based on the amount of coverage.
20-Year Life Insurance Pricing (Male Tobacco; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Men | Yes | 20 Years | $25,000 | Mutual of Omaha | $14 |
| 32 | Men | Yes | 20 Years | $50,000 | Foresters | $22 |
| 32 | Men | Yes | 20 Years | $100,000 | Foresters | $39 |
| 32 | Men | Yes | 20 Years | $250,000 | Americo | $87 |
The table above shows life insurance pricing from four different companies for a 32-year-old male who is a tobacco smoker. The four different amounts of coverage are $25,000, $50,000, $100,000 and $250,000 and all are for a 20-year term
Mutual of Omaha offers the lowest rate of $14 per month for $25,000 of coverage. Foresters charges $22 per month for $50,000 of coverage and $39 per month for $100,000. The highest rate offered is for $250,000 of coverage from Americo at $87 per month.
Burial Insurance
30-Year Term Rates (Male Smokers; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Men | Yes | 30 Years | $25,000 | Mutual of Omaha | $18 |
| 32 | Men | Yes | 30 Years | $50,000 | Foresters | $27 |
| 32 | Men | Yes | 30 Years | $100,000 | Foresters | $49 |
| 32 | Men | Yes | 30 Years | $250,000 | Foresters | $115 |
The table above shows the monthly rates for 30-year term life insurance policies for male smokers aged 32. It covers four different life insurance coverage amounts from Mutual of Omaha and Foresters, which are $25,000, $50,000, $100,000 and $250,000 respectively
For Mutual of Omaha, the monthly rate for a $25,000 coverage is $18. For Foresters, the monthly rate for a $50,000 coverage is $27, for $100,000 coverage is $49 and for $250,000 coverage is $115.
20-Year Term Premiums (Women; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Women | No | 20 Years | $25,000 | Mutual of Omaha | $10 |
| 32 | Women | No | 20 Years | $50,000 | Prosperity Life | $12 |
| 32 | Women | No | 20 Years | $100,000 | Prosperity Life | $18 |
| 32 | Women | No | 20 Years | $250,000 | Prosperity Life | $33 |
The above table shows term life premiums for 32-year old female non-smokers for different coverage amounts. Mutual of Omaha offers 20-year term coverage for $25,000 with a monthly rate of $10
Prosperity Life offers 20-year term coverage for $50,000, $100,000, and $250,000 with monthly rates of $12, $18, and $33, respectively.
30-Year Term Policies (Women; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Women | No | 30 Years | $25,000 | Mutual of Omaha | $11 |
| 32 | Women | No | 30 Years | $50,000 | Prosperity Life | $14 |
| 32 | Women | No | 30 Years | $100,000 | Prosperity Life | $22 |
| 32 | Women | No | 30 Years | $250,000 | Prosperity Life | $43 |
The table above provides detailed information on the cost of 30 year term policies for a 32 year old female non-smoker. The table reveals that for a coverage of $25,000, Mutual of Omaha charges $11 per month, while Prosperity Life charges $14 per month for $50,000 coverage and $22 per month for $100,000 coverage
Lastly, Prosperity Life charges $43 per month for $250,000 coverage.
20-Year Term Monthly Premiums (Women Smokers; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Women | Yes | 20 Years | $25,000 | Mutual of Omaha | $14 |
| 32 | Women | Yes | 20 Years | $50,000 | Foresters | $20 |
| 32 | Women | Yes | 20 Years | $100,000 | Foresters | $35 |
| 32 | Women | Yes | 20 Years | $250,000 | Prosperity Life | $81 |
This table shows the monthly premiums of various life insurance policies with a 20-year term for female smokers aged 32. For example, Mutual of Omaha offers a $25,000 coverage policy with a monthly rate of $14, while Foresters offers a $100,000 coverage policy with a monthly rate of $35
Prosperity Life also offers a $250,000 coverage policy, with a monthly rate of $81.
Burial Insurance
30-Year Term Insurance Quotes (Female Smokers; Age 32)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 32 | Women | Yes | 30 Years | $25,000 | Mutual of Omaha | $17 |
| 32 | Women | Yes | 30 Years | $50,000 | Foresters | $25 |
| 32 | Women | Yes | 30 Years | $100,000 | Prosperity Life | $42 |
| 32 | Women | Yes | 30 Years | $250,000 | Prosperity Life | $94 |
The table above provides a 30-year term life insurance quote comparison for a woman aged 32 who smokes. The quotes provide coverage from Mutual of Omaha, Foresters and Prosperity Life and provide coverage amounts of $25,000, $50,000, $100,000 and $250,000
Prices for the quotes range from $17-$94 per month.
