Return of Premium Life Insurance Rates For 59-Year-Olds
At 59, people may find themselves looking back on their life with a sense of accomplishment. Many people at this age have achieved their professional goals, have a secure financial situation, and a strong family.
59 is a great time for many to relax, travel, and enjoy their golden years.However, 59 is also an age at which people may choose to plan for their future.
It is important to prepare carefully for the stage of life beyond retirement. In addition to having a retirement plan in place, having the right life insurance policy can provide financial security and peace of mind in the event of an unexpected death.Life insurance can be particularly important for those at 59 who may still have dependents, such as young adult children who rely on them for financial support.
Plus, life insurance can be an important part of estate planning, as it can provide for loss of income and final expenses if something were to happen.In many cases, individuals at 59 may also start to experience various health issues, making it more difficult to obtain life insurance coverage. By purchasing life insurance at a younger age such as 59, individuals can help ensure that they are covered even if health issues occur.
(Note: See here for 58-year-old ROP rates or the cost of ROP term life insurance for a 60-year-old.)
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Male Return of Premium Rates (Age 59)
|Age||Gender||Smoker||Coverage||Rate (20-Year)||Rate (30-Year)|
If you are a 59-year-old non-smoking man looking to purchase a return of premium life insurance policy, you can expect to pay varying rates depending on the coverage amount and term length. Let’s take a look at the rates for two different coverage amounts.
For a $100,000 policy, the 20-year term rate is $214, while the 30-year term rate is not available. For a $500,000 policy, the 20-year term rate is $773, and the 30-year term rate is not available. As you can see, the rates increase as the coverage amount increases.
Additionally, the cost per dollar of coverage decreases as the coverage amount increases. For example, for a $25,000 policy, the rate is $58, which translates to $2.32 per $1,000 of coverage. However, for a $1,000,000 policy, the rate is $1,486, which translates to $1.49 per $1,000 of coverage.
Finally, it’s worth noting that the rates for 20-year term policies are generally lower than those for 30-year term policies. However, in this case, the 30-year term rates are not available for the coverage amounts listed.
If you are a 59-year-old woman who does not smoke and is looking for a return of premium term life insurance policy, you have several coverage options to choose from. The rates for these policies vary based on the coverage amount and the term length.
Let’s take a look at two coverage amounts to see how the rates compare. For a $100,000 policy, the 20-year term policy rate is $169, while the 30-year term policy rate is not available. For a $500,000 policy, the 20-year term policy rate is $583, while the 30-year term policy rate is not available. Unfortunately, the rates for the 30-year term policy are not provided for all coverage amounts, so we cannot make a direct comparison between the two term lengths.
When we look at the cost per dollar of coverage, we can see that it decreases as the coverage amount increases. For example, the cost per dollar of coverage for a $25,000 policy is $0.00188, while the cost per dollar of coverage for a $1,000,000 policy is $0.00111. This means that you get more coverage for your money with a larger policy.
Overall, if you are a 59-year-old woman who does not smoke and is interested in a return of premium term life insurance policy, you have several coverage options to choose from. The rates vary based on the coverage amount and the term length, so it is important to carefully consider your needs and budget when selecting a policy.