Return of Premium Life Insurance Rates For 32-Year-Olds
- Updated: February 23, 2023
Turning 32 is an important age for many individuals for a number of reasons. For instance, at 32, many people have progressed further in their career paths and have a clearer idea of which direction they’d like to take in life.
In addition, 32-year-olds may have already achieved a financial stability, having saved up for retirement and establishing a solid budget. However, this age can also be a time to start reflective on the future.
32-year-olds may begin to seriously consider their long-term plans and think about protecting their assets in the event of an unexpected death. At this age, life insurance can be especially important, as it can provide at least some peace of mind that your loved ones are taken care of even if something were to happen to you. Life insurance can also be an important part of estate planning.
Having life insurance coverage can help pay for any final expenses, such as funeral and burial costs, should the unfortunate circumstance arise. Additionally, a life insurance policy can help cover any financial obligations should you not live to see them fulfilled. Ultimately, life insurance at any age can help protect your family and loved ones from any financial hardship, but 32 can be an important time to consider it as you are likely more financially secure and may already have dependents that need care and protection.
(Note: See here for 31-year-old ROP rates or the cost of ROP term life insurance for a 33-year-old.)
Table of Contents
Male Return of Premium Rates (Age 32)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 32 | Men | No | $25,000 | $10 | $10 |
| 32 | Men | No | $50,000 | $15 | $13 |
| 32 | Men | No | $75,000 | $19 | $17 |
| 32 | Men | No | $100,000 | $23 | $20 |
| 32 | Men | No | $150,000 | $32 | $27 |
| 32 | Men | No | $200,000 | $40 | $35 |
| 32 | Men | No | $250,000 | $38 | $38 |
| 32 | Men | No | $300,000 | $45 | $45 |
| 32 | Men | No | $400,000 | $58 | $58 |
| 32 | Men | No | $500,000 | $70 | $67 |
| 32 | Men | No | $1,000,000 | $128 | $119 |
Looking at the table above, we can see the rates for male non-smokers at age 32 for various coverage amounts and term lengths. Let’s choose two coverage amounts to analyze: $100,000 and $500,000.
For a $100,000 policy, the rate for a 20-year term is $23 and for a 30-year term is $20. For a $500,000 policy, the rate for a 20-year term is $70 and for a 30-year term is $67. So, we can see that the rates are slightly lower for the 30-year term compared to the 20-year term for both coverage amounts.
When we look at the cost per dollar of coverage, we can see that it decreases as the coverage amount increases. For example, for a 20-year term policy, the cost per dollar of coverage for a $25,000 policy is $0.40, while for a $1,000,000 policy it is $0.13. Similarly, for a 30-year term policy, the cost per dollar of coverage for a $25,000 policy is $0.40, while for a $1,000,000 policy it is $0.12.
In conclusion, the rates for a 20-year term policy are slightly higher than for a 30-year term policy for the same coverage amount. Also, the cost per dollar of coverage decreases as the coverage amount increases.
ROP Term Life Cost (Male Smokers; Age 32)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 32 | Men | Yes | $25,000 | $22 | $17 |
| 32 | Men | Yes | $50,000 | $38 | $29 |
| 32 | Men | Yes | $75,000 | $54 | $40 |
| 32 | Men | Yes | $100,000 | $70 | $51 |
| 32 | Men | Yes | $150,000 | $101 | $74 |
| 32 | Men | Yes | $200,000 | $133 | $96 |
| 32 | Men | Yes | $250,000 | $138 | $103 |
| 32 | Men | Yes | $300,000 | $164 | $122 |
| 32 | Men | Yes | $400,000 | $217 | $161 |
| 32 | Men | Yes | $500,000 | $253 | $190 |
| 32 | Men | Yes | $1,000,000 | $489 | $365 |
If you are a 32-year-old male smoker, you might be interested in knowing the cost of term life insurance. The table above shows the rates for ROP term life insurance for different coverage amounts and term lengths.
Let’s say you are interested in getting coverage for $50,000 or $250,000. The rates for a 20-year term policy for $50,000 and $250,000 coverage are $38 and $138, respectively. If you opt for a 30-year term policy, the rates for the same coverage amounts increase to $29 and $103, respectively. This means that the difference in rates between a 20-year and a 30-year term policy is higher for the $50,000 coverage amount than for the $250,000 coverage amount.
It is also interesting to note that the cost per dollar of coverage decreases as the coverage amount increases. For example, the cost per dollar of coverage for a 20-year term policy for $50,000 coverage is $0.76, while for a $1,000,000 coverage, it is $0.49. Similarly, the cost per dollar of coverage decreases as the term length increases. For example, the cost per dollar of coverage for a $250,000 coverage amount for a 20-year term policy is $0.55, while for a 30-year term policy, it is $0.41.
In summary, the rates for ROP term life insurance vary based on coverage amount and term length. The cost per dollar of coverage decreases as the coverage amount and term length increase.
ROP Life Insurance Prices (Female Smokers; Age 32)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 32 | Women | Yes | $25,000 | $18 | $15 |
| 32 | Women | Yes | $50,000 | $30 | $23 |
| 32 | Women | Yes | $75,000 | $42 | $32 |
| 32 | Women | Yes | $100,000 | $54 | $40 |
| 32 | Women | Yes | $150,000 | $79 | $57 |
| 32 | Women | Yes | $200,000 | $103 | $74 |
| 32 | Women | Yes | $250,000 | $101 | $82 |
| 32 | Women | Yes | $300,000 | $120 | $97 |
| 32 | Women | Yes | $400,000 | $158 | $127 |
| 32 | Women | Yes | $500,000 | $188 | $146 |
| 32 | Women | Yes | $1,000,000 | $361 | $276 |
If you are a 32-year-old non-smoking woman looking for a return of premium term life insurance policy, you can choose from a range of coverage amounts. For instance, you can opt for a $25,000 coverage for just $9 per month, or a $1,000,000 coverage for $97 per month.
If you prefer a longer term policy, you can opt for a 30-year term instead of a 20-year term. For instance, if you choose a $50,000 coverage, you will pay $11 per month for a 30-year term policy, while you will pay $12 per month for a 20-year term policy. Similarly, if you choose a $1,000,000 coverage, you will pay $90 per month for a 30-year term policy, while you will pay $97 per month for a 20-year term policy.
Looking at the cost per dollar of coverage, it is clear that the larger the coverage amount, the lower the cost per dollar of coverage. For example, while a $25,000 coverage costs $9 per month, a $500,000 coverage costs $50 per month, which means that the cost per dollar of coverage decreases as the coverage amount increases. Similarly, for the same coverage amount, the cost per dollar of coverage decreases for longer term policies.
ROP Life Insurance Prices (Female Smokers; Age 32)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 32 | Women | Yes | $25,000 | $18 | $15 |
| 32 | Women | Yes | $50,000 | $30 | $23 |
| 32 | Women | Yes | $75,000 | $42 | $32 |
| 32 | Women | Yes | $100,000 | $54 | $40 |
| 32 | Women | Yes | $150,000 | $79 | $57 |
| 32 | Women | Yes | $200,000 | $103 | $74 |
| 32 | Women | Yes | $250,000 | $101 | $82 |
| 32 | Women | Yes | $300,000 | $120 | $97 |
| 32 | Women | Yes | $400,000 | $158 | $127 |
| 32 | Women | Yes | $500,000 | $188 | $146 |
| 32 | Women | Yes | $1,000,000 | $361 | $276 |
If you’re a 32-year-old female smoker looking for life insurance, you might be interested in the rates offered by ROP. The rates vary based on 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 $30, while the 30-year term rate is $23. This means that the 30-year term policy is cheaper per year than the 20-year term policy. For a $250,000 policy, the 20-year term rate is $101, while the 30-year term rate is $82. Again, the 30-year term policy is cheaper per year than the 20-year term policy.
The cost per dollar of coverage varies across coverage amounts and term lengths. For example, the cost per dollar of coverage for a $50,000 policy is higher than the cost per dollar of coverage for a $1,000,000 policy. This is because the fixed costs of issuing the policy (such as underwriting and administrative costs) are spread out over a smaller coverage amount. Additionally, the longer the term length, the higher the cost per dollar of coverage. This is because the insurer is taking on more risk by guaranteeing the premium rate for a longer period of time.
