Return of Premium Life Insurance Rates For 28-Year-Olds
- Updated: February 20, 2023
At age 28, many individuals are entering into new stages in their life and taking on additional responsibilities. At this age, they may be entering into important relationships such as marriage or serious committed relationships, establishing a career, beginning to accumulate wealth, and in some cases, welcoming their first child into the world.
As individuals take on more lifelong commitments, it is important for them to also plan for the future, including their own mortality. Life insurance is a necessity at age 28, as it can provide financial security for your family in the event of an unexpected death.
This can include helping to pay debts, providing for children’s future educational needs, or covering funeral expenses. Furthermore, life insurance can also be used to help fund a retirement plan, pay off a mortgage, or to help pay for long term care if needed. When purchased at a younger age, like 28, life insurance is typically less expensive, meaning an individual can secure a policy that will cover their future needs over the long term.
In summary, 28 is an important age in life, as it marks the entry of an individual into a new stage of adulthood and new responsibilities. For these reasons, life insurance is an invaluable tool to protect individuals and their families against the potential financial hardship caused by an unexpected death.
(Note: See here for 27-year-old ROP rates or the cost of ROP term life insurance for a 29-year-old.)
Table of Contents
Male Return of Premium Rates (Age 28)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 28 | Men | No | $25,000 | $10 | $9 |
| 28 | Men | No | $50,000 | $14 | $12 |
| 28 | Men | No | $75,000 | $18 | $15 |
| 28 | Men | No | $100,000 | $22 | $19 |
| 28 | Men | No | $150,000 | $29 | $25 |
| 28 | Men | No | $200,000 | $37 | $31 |
| 28 | Men | No | $250,000 | $36 | $33 |
| 28 | Men | No | $300,000 | $42 | $38 |
| 28 | Men | No | $400,000 | $53 | $49 |
| 28 | Men | No | $500,000 | $65 | $59 |
| 28 | Men | No | $1,000,000 | $118 | $105 |
If you’re a 28-year-old non-smoking man looking for a return of premium life insurance policy, you can expect to pay between $10 and $118 per month, depending on the coverage amount and term length. Let’s take a closer look at the rates for two coverage amounts.
For a $50,000 policy, the 20-year term rate is $14 per month, while the 30-year term rate is $12 per month. This means you’ll pay $2 less per month for the longer term policy. For a $500,000 policy, the 20-year term rate is $65 per month, while the 30-year term rate is $59 per month. Here, the difference between the two term lengths is $6 per month.
As for the cost per dollar of coverage, we can see that it varies across coverage amounts and term lengths. For example, the cost per dollar of coverage for a $25,000 policy is $0.40 for both the 20-year and 30-year terms. However, for a $1,000,000 policy, the cost per dollar of coverage is $0.118 for the 20-year term and $0.105 for the 30-year term. In other words, the cost per dollar of coverage decreases as the coverage amount increases and as the term length increases.
Overall, it’s important to carefully consider your coverage needs and budget when choosing a return of premium life insurance policy. With the above rates as a starting point, you can work with an insurance agent to find the right policy for you.
ROP Term Life Cost (Male Smokers; Age 28)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 28 | Men | Yes | $25,000 | $18 | $15 |
| 28 | Men | Yes | $50,000 | $30 | $24 |
| 28 | Men | Yes | $75,000 | $41 | $34 |
| 28 | Men | Yes | $100,000 | $53 | $43 |
| 28 | Men | Yes | $150,000 | $77 | $61 |
| 28 | Men | Yes | $200,000 | $100 | $79 |
| 28 | Men | Yes | $250,000 | $106 | $85 |
| 28 | Men | Yes | $300,000 | $126 | $101 |
| 28 | Men | Yes | $400,000 | $165 | $133 |
| 28 | Men | Yes | $500,000 | $194 | $157 |
| 28 | Men | Yes | $1,000,000 | $382 | $304 |
This table shows the cost of ROP term life insurance for male smokers aged 28. The rates vary based on the coverage amount and term length. Let’s take a closer look at the data.
For coverage amounts, let’s choose $100,000 and $500,000. For a 20-year term policy with $100,000 coverage, the rate is $53, while for a 30-year term policy, the rate is $43. For $500,000 coverage, the rate for a 20-year term policy is $194, while for a 30-year term policy, the rate is $157. The difference in rates between a 20-year and a 30-year term policy is significant, with the 30-year policy being cheaper.
The cost per dollar of coverage varies across coverage amounts and term lengths. For example, for a 20-year term policy, the cost per dollar of coverage for $25,000 is $0.72, while for $1,000,000 coverage, it is $0.38. This means that the cost per dollar of coverage decreases as the coverage amount increases. Similarly, for $100,000 coverage, the cost per dollar of coverage for a 20-year term policy is $0.53, while for a 30-year term policy, it is $0.43. This shows that the cost per dollar of coverage decreases as the term length increases.
In conclusion, this table provides useful information for male smokers aged 28 who are looking for ROP term life insurance. The rates vary based on coverage amount and term length, and the cost per dollar of coverage decreases as the coverage amount and term length increase.
ROP Life Insurance Prices (Female Smokers; Age 28)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 28 | Women | Yes | $25,000 | $14 | $13 |
| 28 | Women | Yes | $50,000 | $21 | $20 |
| 28 | Women | Yes | $75,000 | $29 | $26 |
| 28 | Women | Yes | $100,000 | $37 | $33 |
| 28 | Women | Yes | $150,000 | $52 | $47 |
| 28 | Women | Yes | $200,000 | $67 | $60 |
| 28 | Women | Yes | $250,000 | $68 | $64 |
| 28 | Women | Yes | $300,000 | $81 | $76 |
| 28 | Women | Yes | $400,000 | $106 | $99 |
| 28 | Women | Yes | $500,000 | $130 | $117 |
| 28 | Women | Yes | $1,000,000 | $250 | $224 |
Looking at the table, we can see the rates for female return of premium term policies for a 28-year-old non-smoker. Let’s choose two coverage amounts and compare the rates for a 20-year and a 30-year term policy. For a $100,000 coverage amount, the rate for a 20-year term policy is $15, while the rate for a 30-year term policy is $14. For a $500,000 coverage amount, the rate for a 20-year term policy is $40, while the rate for a 30-year term policy is $41.
We can see that for both coverage amounts, the rate for a 30-year term policy is slightly higher than the rate for a 20-year term policy. The difference in rates is only $1 for the $500,000 coverage amount, but it is more significant for the $100,000 coverage amount, where the rate for a 30-year term policy is $1 lower than the rate for a 20-year term policy.
Looking at the cost per dollar of coverage, we can see that it varies across coverage amounts and term lengths. For example, for a $25,000 coverage amount, the cost per dollar of coverage is $0.32 for both a 20-year and a 30-year term policy. However, for a $1,000,000 coverage amount, the cost per dollar of coverage is $0.074 for a 20-year term policy and $0.077 for a 30-year term policy.
Overall, it’s important to consider both the coverage amount and the term length when choosing a policy, as the rates and cost per dollar of coverage can vary significantly.
ROP Life Insurance Prices (Female Smokers; Age 28)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 28 | Women | Yes | $25,000 | $14 | $13 |
| 28 | Women | Yes | $50,000 | $21 | $20 |
| 28 | Women | Yes | $75,000 | $29 | $26 |
| 28 | Women | Yes | $100,000 | $37 | $33 |
| 28 | Women | Yes | $150,000 | $52 | $47 |
| 28 | Women | Yes | $200,000 | $67 | $60 |
| 28 | Women | Yes | $250,000 | $68 | $64 |
| 28 | Women | Yes | $300,000 | $81 | $76 |
| 28 | Women | Yes | $400,000 | $106 | $99 |
| 28 | Women | Yes | $500,000 | $130 | $117 |
| 28 | Women | Yes | $1,000,000 | $250 | $224 |
If you’re a 28-year-old female smoker, you might be curious about the cost of ROP life insurance. We’ve compiled a table of rates for various coverage amounts and term lengths to help you make an informed decision.
Let’s say you’re interested in a $50,000 or $250,000 coverage amount. For a 20-year term policy, the rate for $50,000 of coverage is $21, while the rate for $250,000 of coverage is $130. If you opt for a 30-year term policy, the rate for $50,000 of coverage is $20, while the rate for $250,000 of coverage is $117.
As you can see, the rates for a 30-year term policy are slightly lower than those for a 20-year term policy. However, the difference is not significant. The cost per dollar of coverage decreases as the coverage amount increases. For example, the cost per dollar of coverage for a $50,000 policy is higher than that of a $1,000,000 policy.
In conclusion, if you’re a 28-year-old female smoker, you can expect to pay different rates depending on the coverage amount and term length you choose. It’s important to consider your budget and long-term needs when selecting a policy.
