Return of Premium Life Insurance Rates For 53-Year-Olds
- Updated: February 28, 2023
Fifty-three is an important age in life for many reasons. For one, it marks one’s transition into the later half of their life and is often a point of reflection and re-evaluation.
This can be a time for individuals to assess where they are in life and determine what changes they may want to make. At 53, many people have already achieved many goals and milestones, such as furthering their career, establishing their own family, and achieving a financial stability.
However, it’s also important to consider the responsibility and planning associated with achieving these goals. As people move into their 50s, they may begin to think more about retirement, planning for the future of their family, and the potential for unexpected medical conditions. These are all important considerations when it comes to life insurance at this age.
At 53, a person may be faced with unforeseen medical expenses that could cause financial hardship. Having a life insurance policy can help ensure that if anything unexpected were to happen, their family would have the necessary financial support. Additionally, life insurance policies can be beneficial for estate planning, as they can gain help to provide for loved ones and cover any final expenses.
Overall, 53 is an important age in life as it marks the transition into the later stages of life and brings with it new responsibilities. For this reason, it is important to consider the potential need for life insurance, which can provide financial support in the event of an unexpected illness or death.
(Note: See here for 52-year-old ROP rates or the cost of ROP term life insurance for a 54-year-old.)
Table of Contents
Male Return of Premium Rates (Age 53)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 53 | Men | No | $25,000 | $37 | $56 |
| 53 | Men | No | $50,000 | $69 | $105 |
| 53 | Men | No | $75,000 | $100 | $154 |
| 53 | Men | No | $100,000 | $132 | $203 |
| 53 | Men | No | $150,000 | $194 | $301 |
| 53 | Men | No | $200,000 | $257 | $398 |
| 53 | Men | No | $250,000 | $259 | $496 |
| 53 | Men | No | $300,000 | $309 | $594 |
| 53 | Men | No | $400,000 | $410 | $789 |
| 53 | Men | No | $500,000 | $445 | NA |
| 53 | Men | No | $1,000,000 | $870 | NA |
If you’re a 53-year-old man who doesn’t smoke, you can expect to pay different rates for different coverage amounts and term lengths. Let’s take a look at two coverage amounts: $100,000 and $500,000.
For a 20-year term policy with $100,000 coverage, you would pay $132 per month. However, if you opted for a 30-year term policy with the same coverage amount, you would pay $203 per month. That’s a difference of $71 per month.
If you were to choose $500,000 in coverage, you would pay $445 per month for a 20-year term policy. Unfortunately, there isn’t a rate available for a 30-year term policy at this coverage amount.
It’s also interesting to note that the cost per dollar of coverage varies across coverage amounts and term lengths. For example, if you were to choose a 20-year term policy with $25,000 in coverage, you would pay $37 per month. That means you’re paying $1.48 per dollar of coverage. However, if you were to choose a 20-year term policy with $1,000,000 in coverage, you would pay $870 per month. That means you’re paying $0.87 per dollar of coverage.
Overall, it’s important to carefully consider your coverage amount and term length when choosing a policy. The rates can vary significantly, and the cost per dollar of coverage can also be affected.
ROP Term Life Cost (Male Smokers; Age 53)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 53 | Men | Yes | $25,000 | $109 | NA |
| 53 | Men | Yes | $50,000 | $212 | NA |
| 53 | Men | Yes | $75,000 | $315 | NA |
| 53 | Men | Yes | $100,000 | $418 | NA |
| 53 | Men | Yes | $150,000 | $624 | NA |
| 53 | Men | Yes | $200,000 | $830 | NA |
| 53 | Men | Yes | $250,000 | $855 | NA |
| 53 | Men | Yes | $300,000 | $1,025 | NA |
| 53 | Men | Yes | $400,000 | $1,364 | NA |
| 53 | Men | Yes | $500,000 | $1,583 | NA |
| 53 | Men | Yes | $1,000,000 | $3,082 | NA |
If you’re a 53-year-old male smoker, the ROP term life insurance policy might be of interest to you. Let’s take a look at the rates for different coverage amounts and term lengths.
For a coverage amount of $100,000, the rate for a 20-year term policy is $418, while the rate for a 30-year term policy is not available. If you’re looking for a higher coverage amount, say $500,000, the rate for a 20-year term policy is $1,583, and again, the rate for a 30-year term policy is not available.
The difference in rates between a 20-year and a 30-year term policy is significant. For example, in the case of a $100,000 coverage amount, the 20-year term policy rate is $418, while the 30-year term policy rate is not available. However, for a $500,000 coverage amount, the 20-year term policy rate is $1,583, while the 30-year term policy rate is not available. This could be because the insurer considers a 30-year term policy to be riskier, and therefore, more expensive.
The cost per dollar of coverage varies across coverage amounts and term lengths. For instance, for a $100,000 coverage amount, the cost per dollar of coverage for a 20-year term policy is $4.18, while for a $500,000 coverage amount, it is $3.17. This means that as the coverage amount increases, the cost per dollar of coverage decreases. Similarly, for a 20-year term policy, the cost per dollar of coverage decreases as the coverage amount increases. However, this trend may not hold for a 30-year term policy, as the rates for this term length are not available.
ROP Life Insurance Prices (Female Smokers; Age 53)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 53 | Women | Yes | $25,000 | $86 | NA |
| 53 | Women | Yes | $50,000 | $167 | NA |
| 53 | Women | Yes | $75,000 | $247 | NA |
| 53 | Women | Yes | $100,000 | $327 | NA |
| 53 | Women | Yes | $150,000 | $488 | NA |
| 53 | Women | Yes | $200,000 | $648 | NA |
| 53 | Women | Yes | $250,000 | $694 | NA |
| 53 | Women | Yes | $300,000 | $831 | NA |
| 53 | Women | Yes | $400,000 | $1,106 | NA |
| 53 | Women | Yes | $500,000 | $1,233 | NA |
| 53 | Women | Yes | $1,000,000 | $2,440 | NA |
For 53-year-old women who do not smoke, the table above shows the rates for return of premium term policies with various coverage amounts and term lengths. Let’s take a closer look at the rates for two coverage amounts.
For a $50,000 coverage amount, the 20-year term policy rate is $57, while the 30-year term policy rate is $105. This means that the 30-year term policy is more expensive than the 20-year term policy by $48.
For a $300,000 coverage amount, the 20-year term policy rate is $230, while the 30-year term policy rate is $594. This means that the 30-year term policy is more expensive than the 20-year term policy by $364.
As we can see, the cost per dollar of coverage decreases as the coverage amount increases. For example, the cost per dollar of coverage for a $25,000 coverage amount is $1.24, while the cost per dollar of coverage for a $1,000,000 coverage amount is $0.64. Additionally, the cost per dollar of coverage increases as the term length increases. For example, the cost per dollar of coverage for a $50,000 coverage amount with a 20-year term policy is $0.0011, while the cost per dollar of coverage for the same coverage amount with a 30-year term policy is $0.0021.
Overall, it’s important to consider both the coverage amount and term length when choosing a return of premium term policy, as these factors can greatly impact the cost per dollar of coverage.
ROP Life Insurance Prices (Female Smokers; Age 53)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 53 | Women | Yes | $25,000 | $86 | NA |
| 53 | Women | Yes | $50,000 | $167 | NA |
| 53 | Women | Yes | $75,000 | $247 | NA |
| 53 | Women | Yes | $100,000 | $327 | NA |
| 53 | Women | Yes | $150,000 | $488 | NA |
| 53 | Women | Yes | $200,000 | $648 | NA |
| 53 | Women | Yes | $250,000 | $694 | NA |
| 53 | Women | Yes | $300,000 | $831 | NA |
| 53 | Women | Yes | $400,000 | $1,106 | NA |
| 53 | Women | Yes | $500,000 | $1,233 | NA |
| 53 | Women | Yes | $1,000,000 | $2,440 | NA |
Looking at the table, we can see the ROP life insurance prices for female smokers at the age of 53. The rates are provided for different coverage amounts and term lengths. Let’s analyze the data.
If we choose the coverage amount of $100,000, the rate for a 20-year term policy is $327, and for a 30-year term policy, the rate is not available (NA). For a coverage amount of $500,000, the rate for a 20-year term policy is $1,233, and for a 30-year term policy, the rate is also not available (NA).
We can see that the rates for a 30-year term policy are not available for some coverage amounts. This may be due to the fact that the rates for longer term policies are not provided for all coverage amounts.
The difference in rates between a 20-year and a 30-year term policy varies across coverage amounts. For example, for a coverage amount of $100,000, the rate for a 20-year term policy is $327, while the rate for a 30-year term policy is not available. On the other hand, for a coverage amount of $25,000, the rate for a 20-year term policy is $86, while the rate for a 30-year term policy is not available. Therefore, we cannot make a general statement about the difference in rates between the two term lengths.
The cost per dollar of coverage varies across coverage amounts and term lengths. For example, for a coverage amount of $25,000, the cost per dollar of coverage for a 20-year term policy is $0.00344, while for a coverage amount of $1,000,000, the cost per dollar of coverage for a 20-year term policy is $0.00244. We can see that the cost per dollar of coverage decreases as the coverage amount increases. However, we cannot compare the cost per dollar of coverage across different term lengths, as the rates are not available for all coverage amounts.
