Welcome to Huntley Wealth Insurance, where we provide you with many life insurance policy options from 10 year term life insurance to universal life insurance. We assist people of all ages, and particularly enjoy offering life insurance for 58 year olds. Are you an individual who is 100% healthy taking no medication? We love healthy people. But we also specialize in helping individuals with recent or past health concerns. So if you currently have depression or epilepsy, or whatever else you can think of, you are also are in the right place! Call us at 877-443-9467 for quotes or use the form on the right.
Term Insurance at 58 Years Old Taking Medication
A couple insurance companies will be more liberal on particular health impairments than other providers. Say you have a history of diabetes, for example. Every life insurance company is going to treat that impairment differently. That means the most prudent way to find cost effective insurance coverage with medical issues will be to apply with the company who is going to be the most liberal on your particular health issues. It’s wise to let an independent agent help you who can impartially shop your case out to many companies to find the one who will be your best bet.
How Tobacco Use Affects a 58 Year Old’s Term Premium
You can expect to pay approximately triple the premium for life insurance at 58 years old if you use cigarettes than if you’re a non smoker. The good news is there are some life insurance providers whose niche is offering low premiums to cigarette smokers. You may qualify for standard non tobacco ratings if you can quit smoking for 12 months and apply for coverage, but you don’t want to be without coverage for 12 months, so we recommend applying for a policy now and paying the higher cost, and then if you are able to quit, you can wait 12 months and replace the policy with a lower cost non smoker rated policy, or apply for a rating reconsideration with your existing carrier. Affordable coverage is also available for most cigar users and social marijuana users. Just select “Yes” for tobacco use in our quote form on the right for a smoker quote.
Sample 30 Year Term Life Insurance Pricing
Let’s look at a sample quote for life insurance for 58 years old. The quotes are for a 30 year term policy for a female in preferred health, non smoker. I’ll also show you the male quotes. This type of policy keeps your premiums guaranteed to stay level for 30 years. You can also use our form on the right for quotes at other term lengths.
Age $100,000 $500,000
58 Year Old Female $624 Per Year $2581 Per Year
58 Year Old Male $1086 Per year $4774 Per Year
*Premiums are subject to increase.
What Factors Are Considered In Determining My Premium?
The five variables which determine your premium are 1. Age 2. Gender 3. Health Rating 4. Amount of Coverage 5. Length of Term. A 30 year term costs more than a shorter term such as 10 or 20 years. Females also pay less than males.
Term and Whole Life Insurance – Which One is Right for Me?
Many of our clients need term life insurance. Term is usually going to be less expensive than whole life and serves to meet a temporary coverage need, such as 10 or 20 years. That’s because life insurance is most frequently needed for salary replacement in the event of a spouse’s unexpected passing. So at 58 years old, you may only plan to work 15 more years. A 15 year term policy may be the most suitable product for you. Term life insurance does not build cash value, so if you cancel it, you won’t get any money returned to you. Your payments are fixed for the entirety of the term. So 30 year term means your premiums are guaranteed to stay level for 30 years. Whole life insurance provides guaranteed coverage, and builds cash value. If cash accumulation is not your goal, you may actually want a guaranteed universal life policy to age 120. Guaranteed universal life may offer coverage for life, but you will not see the build-up of as much cash value.
I Want to Buy Term Life Insurance – How to Get Started
Please get a free quote using the form on the right. On the next page, you can request an application for the policy you’d like. We offer term life insurance quotes from over a hundred insurance providers. If you prefer, call us at 877-443-9467 to discuss term life insurance for 58 year olds over the phone.*Written by Chris Huntley. Huntley Wealth Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.