Return of Premium Life Insurance Rates For 55-Year-Olds
- Updated: February 27, 2023
At age 55, many individuals have reached several key milestones in their personal and professional lives. By this point, most people have had plenty of time to establish their career, whether they are retired or still working.
This is usually a point where a person has achieved financial stability and is beginning to consider long-term plans for their future. However, 55 is also an age where people may begin to think about the importance of preparing for their later years, including the need for life insurance.
At this point, many people may have children who may still depend on them for support, so life insurance could provide an essential safety net for them in the event of an unexpected death. Additionally, 55 is an age where many people begin to face increased health risks and complications. Having life insurance coverage can help ensure that an individual’s loved ones can access any necessary medical treatments and care.
Furthermore, life insurance can be an important part of estate planning and can provide much-needed funds to cover funeral expenses and other end-of-life costs. Ultimately, life insurance at age 55 is an important and wise choice to help ensure that an individual’s loved ones can access the support they need in the event of the unexpected.
(Note: See here for 54-year-old ROP rates or the cost of ROP term life insurance for a 56-year-old.)
Table of Contents
Male Return of Premium Rates (Age 55)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 55 | Men | No | $25,000 | $42 | $66 |
| 55 | Men | No | $50,000 | $79 | $124 |
| 55 | Men | No | $75,000 | $115 | $182 |
| 55 | Men | No | $100,000 | $152 | $240 |
| 55 | Men | No | $150,000 | $224 | $356 |
| 55 | Men | No | $200,000 | $297 | $473 |
| 55 | Men | No | $250,000 | $305 | $589 |
| 55 | Men | No | $300,000 | $364 | $705 |
| 55 | Men | No | $400,000 | $484 | $938 |
| 55 | Men | No | $500,000 | $530 | NA |
| 55 | Men | No | $1,000,000 | $1,047 | NA |
Looking at the table above, we see the rates for male return of premium policies at age 55. Let’s take a closer look at the rates for two coverage amounts. For a $50,000 policy, the rate for a 20-year term is $79, while the rate for a 30-year term is $124. For a $300,000 policy, the rate for a 20-year term is $364, while the rate for a 30-year term is $705.
As we can see, the rates for a 30-year term policy are generally higher than those for a 20-year term policy. This is because the insurance company is taking on more risk by insuring the individual for a longer period of time. The difference in rates between the two term lengths varies based on the coverage amount, but is generally significant.
In terms of cost per dollar of coverage, we can see that the cost per dollar decreases as the coverage amount increases. For example, for a $25,000 policy, the rate for a 20-year term is $42, which means the cost per dollar of coverage is $0.00168. However, for a $1,000,000 policy, the rate for a 20-year term is $1,047, which means the cost per dollar of coverage is $0.001047. This means that as the coverage amount increases, the cost per dollar of coverage decreases, making it more cost-effective to purchase a higher coverage amount.
Overall, when choosing a return of premium policy, it is important to consider the coverage amount and term length, as well as the cost per dollar of coverage. By comparing rates for different coverage amounts and term lengths, individuals can make an informed decision about which policy is best for their needs and budget.
ROP Term Life Cost (Male Smokers; Age 55)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 55 | Men | Yes | $25,000 | $128 | NA |
| 55 | Men | Yes | $50,000 | $249 | NA |
| 55 | Men | Yes | $75,000 | $371 | NA |
| 55 | Men | Yes | $100,000 | $492 | NA |
| 55 | Men | Yes | $150,000 | $735 | NA |
| 55 | Men | Yes | $200,000 | $978 | NA |
| 55 | Men | Yes | $250,000 | $1,019 | NA |
| 55 | Men | Yes | $300,000 | $1,221 | NA |
| 55 | Men | Yes | $400,000 | $1,626 | NA |
| 55 | Men | Yes | $500,000 | $1,937 | NA |
| 55 | Men | Yes | $1,000,000 | $3,726 | NA |
If you are a male smoker at age 55, the ROP Term Life insurance policy offers coverage ranging from $25,000 to $1,000,000. The rates for a 20-year term policy range from $128 for a $25,000 policy to $3,726 for a $1,000,000 policy. However, there are no rates available for a 30-year term policy.
Let’s take a closer look at the rates for two coverage amounts: $100,000 and $500,000. The rate for a 20-year term policy for $100,000 coverage is $492. On the other hand, the rate for a 20-year term policy for $500,000 coverage is $1,937. This means that the cost per dollar of coverage decreases as the coverage amount increases.
Additionally, there is a difference in rates between a 20-year and a 30-year term policy. Unfortunately, the rates for a 30-year term policy are not available for this particular plan.
ROP Life Insurance Prices (Female Smokers; Age 55)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 55 | Women | Yes | $25,000 | $101 | NA |
| 55 | Women | Yes | $50,000 | $196 | NA |
| 55 | Women | Yes | $75,000 | $291 | NA |
| 55 | Women | Yes | $100,000 | $386 | NA |
| 55 | Women | Yes | $150,000 | $577 | NA |
| 55 | Women | Yes | $200,000 | $767 | NA |
| 55 | Women | Yes | $250,000 | $818 | NA |
| 55 | Women | Yes | $300,000 | $980 | NA |
| 55 | Women | Yes | $400,000 | $1,304 | NA |
| 55 | Women | Yes | $500,000 | $1,448 | NA |
| 55 | Women | Yes | $1,000,000 | $2,862 | NA |
Looking at the table above, we can see the rates for female return of premium term policies for individuals aged 55. The table provides rates for both 20-year and 30-year term policies.
Let’s take a closer look at the rates for two coverage amounts. For a $50,000 policy, the rate for a 20-year term is $66, while the rate for a 30-year term is $124. For a $300,000 policy, the rate for a 20-year term is $265, while the rate for a 30-year term is $705. As we can see, the rates increase significantly for higher coverage amounts and longer terms.
The difference in rates between a 20-year and a 30-year term policy is also noteworthy. For a $50,000 policy, the difference in rates is $58, while for a $300,000 policy, the difference is $440. This indicates that the longer the term, the higher the rate, which is expected.
When it comes to 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 $1.44, while for a $1,000,000 policy, it is $0.76. The same trend can be seen for 30-year term policies. This means that individuals can get more coverage for their money with higher coverage amounts.
Overall, the rates for female return of premium term policies for individuals aged 55 vary based on coverage amount and term length. It is important for individuals to consider their coverage needs and budget when selecting a policy.
ROP Life Insurance Prices (Female Smokers; Age 55)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 55 | Women | Yes | $25,000 | $101 | NA |
| 55 | Women | Yes | $50,000 | $196 | NA |
| 55 | Women | Yes | $75,000 | $291 | NA |
| 55 | Women | Yes | $100,000 | $386 | NA |
| 55 | Women | Yes | $150,000 | $577 | NA |
| 55 | Women | Yes | $200,000 | $767 | NA |
| 55 | Women | Yes | $250,000 | $818 | NA |
| 55 | Women | Yes | $300,000 | $980 | NA |
| 55 | Women | Yes | $400,000 | $1,304 | NA |
| 55 | Women | Yes | $500,000 | $1,448 | NA |
| 55 | Women | Yes | $1,000,000 | $2,862 | NA |
If you are a female smoker who is 55 years old, you might be interested in knowing the rates for ROP life insurance. Let’s take a look at the table above to see what you can expect.
First, let’s focus on coverage amounts. If you are looking for a policy that covers $50,000, you can expect to pay $196 for a 20-year term policy. If you are looking for a policy that covers $250,000, you can expect to pay $818 for a 20-year term policy.
Now, let’s compare the rates for 20-year and 30-year term policies. Unfortunately, the table only provides rates for 20-year policies for female smokers who are 55 years old. However, we can see that there is no rate listed for a 30-year policy, which means that it is not available for this demographic.
When it comes to the cost per dollar of coverage, we can see that it varies depending on the coverage amount. For example, if you are looking for a policy that covers $25,000, you can expect to pay $4.04 per $1,000 of coverage for a 20-year term policy. However, if you are looking for a policy that covers $1,000,000, you can expect to pay $2.86 per $1,000 of coverage for a 20-year term policy.
In conclusion, if you are a female smoker who is 55 years old, you can expect to pay different rates depending on the coverage amount and term length you choose. The cost per dollar of coverage also varies across coverage amounts and term lengths.
