38 year old male, healthy No health exam done $168 per month payment good in RI ?
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That’s probably a standard rating (the fourth-best rating). If you’re healthy (low BMI, no medications, and no family history of heart disease or cancer before age 60) and don’t have risky hobbies, you can likely find a lower-priced option. I ran some quick quotes and found rates of $100-$120 per month for a preferred rating (the second-best health rating). The best health rating, depending on the company, could be even cheaper than that.
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Agree. Several no-exam options under 100/mo for pfNT. Even stNT below 150/mo.
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I pay $78 a month for a term life policy with New York Life, but it only covers $376,000. I think I’m definitely paying too much.
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Sounds ok. Got $1m 30 year term for 50 year old female for 174 pm. Preferred non tobacco rate obviously
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What company . I pay $87 for only 367,000. I’m 54. I’ve had it for 11 years.
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First, if you believe you’re healthy, consider requesting an underwriting with a health exam to get a better rating. Second, a term life insurance policy with living benefits can often cost even less, just for your reference.
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What’s term with life benefits? Like when people get a terminal illness, scan access the insurance money before passing?
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It’s more than that. If you are critically I’ll you access to the money. If you chronically I’ll you get monthly payment to use the care service. Some has critically injury benifit and alzheimer benefit as well. They are not more expensive than the basic term.
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The best rates for a $1,000,000, 30-year term policy for a 38-year-old male in good health in Rhode Island range from $74 to $90 per month. Within this price range, you can also find a 30-year term policy that includes chronic and critical illness living benefits.
I recommend shopping around a bit more to find the best deal.
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What company ?
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Visit Zander.com. It’s linked to Dave Ramsey and offers multiple quotes from highly-rated companies. If you’re in good health, consider getting a policy that includes a health exam to help reduce your rate.
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Consider Banner, Corebridge, Pacific Life, Protective Life, SBLI, or Penn Mutual.
There are too many variables to recommend one without knowing more about your history. Each insurer has different guidelines, and some offer better benefits than others, such as improved conversion options, chronic and critical illness living benefits, or easier qualification without an exam.
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Why do 30 year instead of 20 year?
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I’m a 49-year-old male and got a $1 million, 20-year term policy with Banner Life for $130 a month. I weighed the options between a 20-year and a 30-year term and ultimately chose 20 years, as it covers my remaining working years. The price for a 30-year term would have been double, and I also appreciated that there was no medical exam required with Banner.