This article will look specifically at guaranteed universal life insurance rates for 49 year olds. Applying for coverage in your late 40s can make sense for many reasons. We often reach our peak earning years in our mid to late 40s. Increased income can sometimes lead to new homes or other purchases that bring more debt. This can require a need for additional insurance.
Sometimes the need for life insurance diminishes as we get older. Your kids may be independent and your debts may be much smaller. Every situation is different and we all have unique needs and desire. Your late 40s is a good time, regardless of income, to evaluate your life and disability polices to ensure adequate protection.
See instant rates for GUL (Term for Life) on our quote engine on this page
Rates increase by a greater amount each year in your 50s, so this is a good time to lock in lower rates. Your 50th birthday is a big milestone; we would like to stay in our 40s for as long as possible! Life insurance companies seem to push you into your next birthday since most of them base their rates on your nearest birthday. So, if you are within six months of your 50th birthday, then you can look at our rates for 50 year olds.
However, companies permit “backdating” policies up to six months so you can lock-in rates as a 49 year-old. This can be a smart move, especially if the premium savings is significant. It usually makes sense for policies with a term longer than 10 or 15 years.
We work with ALL the top companies that offer Guaranteed Universal Life Insurance
We use one of the best quote engines available. However, not every insurance company shows up on the quote engines. For this reason, you won’t see every carrier. For example, our “5 Best Guaranteed Universal Life Insurance Companies” article shows companies that you will AND won’t see on the quote engine. Nevertheless, we will provide you with a customized quote, showing all the top companies.
The sample quotes below are based on the lowest-cost rates available. Keep in mind that rates fluctuate frequently, so to see the most current rates, please use our instant quoting tool.
The Lowest Guaranteed Universal Life Insurance Rates for 49 Year Olds
Male
- Preferred Non-tobacco (2nd highest rate class) and Standard Non-tobacco (average to good health).
- Guarantee Age = 100.
- Monthly rates
| Male Face Amount | $50,000 | $100,000 | $250,000 | $500,000 |
| 49 year old – Preferred Rate Class | $54 | $82 | $197 | $370 |
| 49 year old – Standard Rate Class | $64 | $98 | $238 | $452 |
Female
- Preferred Non-tobacco (2nd highest rate class) and Standard Non-tobacco (average to good health).
- Guarantee Age = 100.
- Monthly rates
| Female Face Amount | $50,000 | $100,000 | $250,000 | $500,000 |
| 49 year old – Preferred Rate Class | $47 | $69 | $169 | $308 |
| 49 year old – Standard Rate Class | $54 | $83 | $200 | $370 |
The Various Names for Guaranteed Universal Life
You may have heard about a product called “Term to 100” or “Term for Life”. Some people have heard that there is term insurance that doesn’t expire. Well, those are names we hear when speaking to folks. In fact, we often refer to GUL as Term for Life. Even though GUL is “built on a universal life chassis” so to speak, it is similar to term insurance in several ways.
- Term and GUL have a guaranteed death benefit.
- Term and GUL have guaranteed level premiums.
- Term and GUL don’t have “moving parts” that can affect the policy.
- Term Life and GUL were not designed to build cash value.
So, you can see that the names, Term to age 100 and Term for Life, are appropriate.
Caution: GUL plans allow you to select a “dial-in” guarantee age anywhere from 90 to 121. Sometimes, you can select a guarantee age under 90. So, it’s possible to outlive a GUL policy if the selected guarantee age is under age 100. Of course, it’s still possible to live past 100. To be on the safe side, we recommend a guarantee age between 100 and 121.
Another name used by a couple of carriers, including Nationwide Insurance (see our Nationwide review here), is No-Lapse Universal Life. This name serves to emphasize a key feature of guaranteed universal life and distinguish it form other types of universal life.
A lot of folk associate universal life with market risk. Traditional universal life policies had guaranteed and non-guaranteed interest rates. The possibility of a UL policy lapsing was fairly high, especially the ones sold in the 1980s when interest rates were extraordinarily high. By underscoring the “no lapse” feature, companies allay the fears of policy lapses.
To look more closely at GUL and see how it compares to other types of permanent insurance, please read our Review of Guaranteed Universal Life Insurance. We also wrote a helpful article that covers the Pros and Cons of Guaranteed Universal Life.
How to Select the Best Guaranteed Universal Life Insurance Company
It is fairly easy to compare GUL rates. Unlike other types of permanent insurance, that require an illustration showing projected cash values, GUL is very easy to quote and compare. We realize that the cost of the insurance is of primary importance. It’s not difficult to find the lowest cost guaranteed universal life insurance. If you have health concerns, it can take a little more time, but we can help determine the proper underwriting classification.
Although guaranteed universal life insurance is comparatively easy to quote, there are key differences between products.
Below are a few factors that should be considered.
- Financial Ratings / Strength and Stability With most permanent life insurance products, a company’s financial strength is of utmost importance. With GUL, there are no internal charges that can increase and adversely affect the policy. Nevertheless, financial ratings and stability are important.
- Policy Riders. We distinguish, like most insurance companies, between policy riders and policy provisions. Riders are usually optional benefits that cost additional premium. Some common Riders are: Waiver of Premium for Disability, Accidental Death Benefit, and Children’s Term life insurance. The riders have varying names and can differ in terms cost and coverage.
- Policy Provisions. This is an important factor to consider. Some carriers offer benefits such as a “Return of Premium” benefit and a Chronic Illness Benefit as policy provisions – with no additional premium. These provisions can make a policy a comparatively better value than similarly priced policies without these benefits.
