Return of Premium Life Insurance Rates For 57-Year-Olds
- Updated: March 1, 2023
At age 57, many individuals have achieved significant personal and professional milestones. Many people have established a successful career, have raised their children, and may have achieved a level of financial stability.
This is also a time when people become more aware of the importance of taking care of their health and planning for their future. At age 57, it is likely that people would benefit from having a life insurance policy.
Life insurance can be an important part of estate planning and provide vital support for loved ones in the event of an unexpected death. Additionally, it can help provide for development of loved ones’ futures and provide a safety net for family members in the event of a financial setback due to death. Furthermore, life insurance can be an important part of retirement planning.
As people age, they may take on increasing financial obligations, such as medical or long-term care costs. Life insurance can help cover these expenses, as well as provide loved ones with additional funds to ensure their financial security in later years. Overall, 57 is an important milestone in life and purchasing life insurance can help ensure that one’s future is secure and their loved ones are taken care of.
(Note: See here for 56-year-old ROP rates or the cost of ROP term life insurance for a 58-year-old.)
Table of Contents
Male Return of Premium Rates (Age 57)
| Age | Gender | Smoker | Coverage | Rate (20-Year) | Rate (30-Year) |
|---|---|---|---|---|---|
| 57 | Men | No | $25,000 | $50 | NA |
| 57 | Men | No | $50,000 | $93 | NA |
| 57 | Men | No | $75,000 | $136 | NA |
| 57 | Men | No | $100,000 | $180 | NA |
| 57 | Men | No | $150,000 | $267 | NA |
| 57 | Men | No | $200,000 | $354 | NA |
| 57 | Men | No | $250,000 | $359 | NA |
| 57 | Men | No | $300,000 | $429 | NA |
| 57 | Men | No | $400,000 | $571 | NA |
| 57 | Men | No | $500,000 | $639 | NA |
| 57 | Men | No | $1,000,000 | $1,250 | NA |
At age 57, non-smoking men can expect to pay varying rates for different coverage amounts in a return of premium policy. For instance, a coverage amount of $50,000 will cost $93 for a 20-year term policy, while a coverage amount of $500,000 will cost $639 for the same term length.
It’s worth noting that the rates for a 30-year term policy are not available for all coverage amounts. However, for a coverage amount of $50,000, the rate for a 30-year term policy is not available. For a coverage amount of $500,000, the rate is also not available.
The difference in rates between a 20-year and a 30-year term policy is not available for the coverage amounts mentioned above. However, it’s worth noting that a longer term policy is likely to come with a higher rate due to the extended coverage period.
When it comes to the cost per dollar of coverage, it’s clear that the higher the coverage amount, the lower the cost per dollar of coverage. For instance, a coverage amount of $50,000 will cost $1.86 per dollar of coverage for a 20-year term policy, while a coverage amount of $1,000,000 will cost $1.25 per dollar of coverage for the same term length.
In conclusion, when choosing a return of premium policy at age 57, non-smoking men should consider the coverage amount and term length that best suits their needs and budget. The rates per dollar of coverage are likely to vary based on these factors.
At age 57, non-smoking women can purchase return of premium term life insurance policies with coverage ranging from $25,000 to $1,000,000. The cost per dollar of coverage varies across coverage amounts and term lengths.
For example, for a coverage amount of $100,000, the rate for a 20-year term policy is $146, while a 30-year term policy is not available. For a coverage amount of $500,000, the rate for a 20-year term policy is $486, while a 30-year term policy is not available.
The difference in rates between a 20-year and a 30-year term policy varies based on the coverage amount. For example, for a coverage amount of $100,000, there is no difference in rates between the two term lengths since a 30-year term policy is not available. However, for a coverage amount of $500,000, the rate for a 30-year term policy would likely be higher than the rate for a 20-year term policy if it were available.
Overall, the cost per dollar of coverage decreases as the coverage amount increases. For example, the cost per dollar of coverage for a $25,000 policy is higher than the cost per dollar of coverage for a $1,000,000 policy. Additionally, the cost per dollar of coverage for a 20-year term policy is higher than the cost per dollar of coverage for a 30-year term policy, all else being equal.
