Return of Premium Life Insurance Rates For 58-Year-Olds
At 58, many individuals have achieved significant accomplishments in their personal and professional lives. They may have established a career and may have retired or be close to retirement.
A 58 year old may also be financially stable, with a home, investments, and other assets.At this age, individuals may be at a turning point in their life, which can carry both opportunities and risks.
Specifically, 58 is an age when many people plan for their future and reflect on their mortality. This is particularly important when it comes to life insurance.Life insurance can be a critical tool for ensuring that loved ones are taken care of in the event of an unexpected death.
As individuals reach their late 50s, they may start to experience health issues that can make it difficult to obtain life insurance coverage. By purchasing life insurance at a younger age, such as 58, individuals can help ensure that they are covered in the event of an unexpected illness or injury.Furthermore, life insurance can also provide peace of mind during this time of transition.
With life insurance, individuals can have the confidence of knowing that their financial needs will be taken care of and that their loved ones will be secure in the event of an untimely death. .
(Note: See here for 57-year-old ROP rates or the cost of ROP term life insurance for a 59-year-old.)
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Male Return of Premium Rates (Age 58)
|Age||Gender||Smoker||Coverage||Rate (20-Year)||Rate (30-Year)|
If you are a 58-year-old non-smoking male looking for a return of premium life insurance policy, you may be interested in the rates provided in the table above. The rates are broken down by coverage amount and term length.
Let’s say you are interested in a $100,000 or $500,000 policy. For the $100,000 policy, the 20-year term rate is $196 and the 30-year term rate is not available. For the $500,000 policy, the 20-year term rate is $703 and the 30-year term rate is not available.
As for the difference in rates between the 20-year and 30-year term policies, it is important to note that the 30-year term rate is not available for all coverage amounts. However, for those coverage amounts where both rates are available, the 30-year term rate is typically higher than the 20-year term rate. This is because the insurance company is taking on a greater risk by providing coverage for a longer period of time.
When it comes to the cost per dollar of coverage, it varies across coverage amounts and term lengths. Generally, the cost per dollar of coverage decreases as the coverage amount increases. Additionally, the cost per dollar of coverage is typically lower for longer term lengths. This is because the insurance company is able to spread out the risk over a longer period of time.
Overall, if you are interested in a return of premium life insurance policy as a 58-year-old non-smoking male, you may want to consider the rates provided in the table above and compare them to rates from other insurance companies to find the best policy for your needs.
Looking at the table, we can see the rates for female return of premium term policies for those who are 58 years old and do not smoke. Let’s take a look at the rates for two coverage amounts to see how they vary.
For a coverage amount of $100,000, the rate for a 20-year policy is $157, while the rate for a 30-year policy is not available. For a coverage amount of $500,000, the rate for a 20-year policy is $532, while the rate for a 30-year policy is not available.
We can see that the rates for a 30-year policy are not available for all coverage amounts. Additionally, the rates for a 20-year policy are generally lower than those for a 30-year policy.
When it comes to the cost per dollar of coverage, we can see that it varies across coverage amounts and term lengths. For example, for a coverage amount of $25,000, the rate for a 20-year policy is $44, which means the cost per dollar of coverage is $0.00176. However, for a coverage amount of $1,000,000, the rate for a 20-year policy is $1,006, which means the cost per dollar of coverage is $0.001006.
Overall, it’s important to carefully consider coverage amounts and term lengths when choosing a policy, as the rates and cost per dollar of coverage can vary significantly.