Choosing the right life insurance plan is an important decision, particularly for adults in their 40s. At this juncture of life, adults may have specific financial goals in mind such as providing for their children's education or saving for retirement
But there are other questions to ask as well, such as "How much is term life insurance for 48-year-olds?" In this article, we'll explore the different aspects of term life insurance for adults at this stage of life, including factors that affect premiums and considerations for choosing the right coverage. By understanding these components of term life insurance for mid-aged adults, you'll be empowered to make an informed decision.
Burial Insurance
20-Year Term Life Insurance Cost (Men; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Men | No | 20 Years | $25,000 | Mutual of Omaha | $21 |
| 48 | Men | No | 20 Years | $50,000 | American Amicable | $29 |
| 48 | Men | No | 20 Years | $100,000 | American Amicable | $52 |
| 48 | Men | No | 20 Years | $250,000 | American Amicable | $119 |
The table above shows the cost of 20-year term life insurance for men at age 48. The table includes information about the coverage, company, smoker status, and the monthly rate for each policy
Mutual of Omaha offers $25,000 in coverage for $21 a month. American Amicable offers $50,000, $100,000, and $250,000 in coverage for $29, $52, and $119 a month, respectively.
30-Year Term Life Rates (Male; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Men | No | 30 Years | $25,000 | Mutual of Omaha | $28 |
| 48 | Men | No | 30 Years | $50,000 | American Amicable | $37 |
| 48 | Men | No | 30 Years | $100,000 | American Amicable | $67 |
| 48 | Men | No | 30 Years | $250,000 | American Amicable | $154 |
This table outlines the cost of term life insurance for a 48-year-old male who is not a smoker. The data provided includes the company offering the coverage, the term of coverage (30 years), and the option to choose coverage sums of $25,000, $50,000, $100,000, and $250,000
For example, the Mutual of Omaha offers a 30-year term life insurance policy with a coverage sum of $25,000 for a 48-year-old male who does not smoke for a monthly rate of $28. If the same individual were to choose a $50,000 coverage sum from American Amicable, their monthly rate would be $37. For a coverage sum of $100,000 from American Amicable, their monthly rate would be $67, and for a coverage sum of $250,000, the monthly rate would be $154.
20-Year Life Insurance Pricing (Male Tobacco; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Men | Yes | 20 Years | $25,000 | Mutual of Omaha | $36 |
| 48 | Men | Yes | 20 Years | $50,000 | Foresters | $63 |
| 48 | Men | Yes | 20 Years | $100,000 | Foresters | $120 |
| 48 | Men | Yes | 20 Years | $250,000 | Foresters | $293 |
At age 48, the rates for term life insurance are slightly higher than at earlier ages because the idea behind life insurance is to protect dependents who would be left without financial support in the event of the insured's death. For a 48-year-old male tobacco user, Mutual of Omaha offers a 20-year policy with $25,000 of coverage at a rate of $36/month. For a 20-year $50,000 policy, Foresters provides coverage at $63/month
If a higher level of coverage is desired, Foresters also offers $100,000 of coverage for $120/month, and $250,000 of coverage for $293/month.
Burial Insurance
30-Year Term Rates (Male Smokers; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Men | Yes | 30 Years | $25,000 | Mutual of Omaha | $45 |
| 48 | Men | Yes | 30 Years | $50,000 | Mutual of Omaha | $85 |
| 48 | Men | Yes | 30 Years | $100,000 | Mutual of Omaha | $164 |
| 48 | Men | Yes | 30 Years | $250,000 | Mutual of Omaha | $402 |
The rates for a 48-year-old male smoker for a 30-year term life insurance policy provided by Mutual of Omaha are shown in the table above. With a $25,000 policy, the monthly rate is $45; with a $50,000 policy, the rate is $85; with a $100,000 policy, the rate is $164; and with a $250,000 policy, the rate is $402
This information is relevant to those shopping for term life insurance, particularly smokers, as it provides insight into potentially different, or the same, rates that could be available to them.
20-Year Term Premiums (Women; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Women | No | 20 Years | $25,000 | Mutual of Omaha | $20 |
| 48 | Women | No | 20 Years | $50,000 | American Amicable | $22 |
| 48 | Women | No | 20 Years | $100,000 | American Amicable | $38 |
| 48 | Women | No | 20 Years | $250,000 | American Amicable | $85 |
This table provides a snapshot of the costs of term life insurance for a 48-year-old female who does not smoke from two different companies: Mutual of Omaha and American Amicable. According to the table, Mutual of Omaha is the cheapest option for a 20-year term with a coverage of $25,000, with a monthly rate of $20
For the same term, American Amicable offers a coverage of up to $250,000 for a monthly rate of $85. This shows that the monthly rates increase significantly with larger coverage amounts.
30-Year Term Policies (Women; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Women | No | 30 Years | $25,000 | Mutual of Omaha | $26 |
| 48 | Women | No | 30 Years | $50,000 | American Amicable | $25 |
| 48 | Women | No | 30 Years | $100,000 | American Amicable | $44 |
| 48 | Women | No | 30 Years | $250,000 | American Amicable | $99 |
The table above shows the estimated cost of 30-year term policies for a 48-year-old female non-smoker. Looking at this information, it is clear that a policy’s size and the company providing coverage both have an impact on the associated cost of life insurance policies
For example, Mutual of Omaha is offering a $25,000 policy with a 30 year term for $26 per month. Meanwhile, the same coverage with American Amicable costs $25, and the coverage amount can go up to $250,000, but the rate is then $99 per month.
20-Year Term Monthly Premiums (Women Smokers; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Women | Yes | 20 Years | $25,000 | Mutual of Omaha | $34 |
| 48 | Women | Yes | 20 Years | $50,000 | Prosperity Life | $51 |
| 48 | Women | Yes | 20 Years | $100,000 | Prosperity Life | $95 |
| 48 | Women | Yes | 20 Years | $250,000 | Prosperity Life | $228 |
The table above shows the rates for 20-year term life insurance policy premiums for women aged 48 who are smokers. Coverage amounts from $25,000 to $250,000 are available from Mutual of Omaha and Prosperity Life
For example, for a $25,000 coverage amount, Mutual of Omaha’s rate is $34 per month, while Prosperity Life’s rate is higher at $51 per month. Prosperity Life’s rate increases with the coverage amount to $95 per month for $100,000 in coverage and peaks at $228 per month for $250,000 in coverage. The cost of term life insurance policies increases with age and the risk of the policyholder, so women aged 48 should expect to pay higher premiums than younger women.
Burial Insurance
30-Year Term Insurance Quotes (Female Smokers; Age 48)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 48 | Women | Yes | 30 Years | $25,000 | Mutual of Omaha | $40 |
| 48 | Women | Yes | 30 Years | $50,000 | Foresters | $56 |
| 48 | Women | Yes | 30 Years | $100,000 | Foresters | $106 |
| 48 | Women | Yes | 30 Years | $250,000 | Foresters | $257 |
One of the most important questions for life insurance buyers to consider is how much does it cost? This table provides a glimpse into the cost of term life insurance for a 48-year-old female smoker, focusing on policies that last up to 30-year terms. It can be seen from this table that Mutual of Omaha offers a $25,000 policy for a monthly rate of $40
Foresters is slightly more expensive at $56 for a $50,000 policy. $106 per month is required for a $100,000 policy from the same company. Their $250,000 policy requires $257 per month
It appears that the higher the amount of coverage chosen, the bigger the cost of the policy.
