Rates for people in their mid-40s are more affordable than one might think. Yes, life insurance premiums increase as we get older, but they climb at a much higher rate for people in their 50s and 60s. In your 40s, the rates climb by a smaller amount each year.
People in their mid-40s tend to take financial decisions more seriously. At age 46, you are only 16 years away from Social Security eligibility (age 62). This is a very good time to make sure retirement savings are on track and protection needs are in place.
Sometimes, people purchase a level term policy early in their career or when they first have children. When they are well into the term period, they might realize that they will need or want to keep some life insurance beyond the current term period. Another term policy or a guaranteed universal life policy can make sense at that point.
As a starting point in your search, we provide sample term life quotes in the tables below. Keep in mind, rates fluctuate often and carriers continually introduce new product lines. To see the most current, up-to-date rates, please use our instant quote engine.
Click here for our instant quote engine for both term and Guaranteed Universal Life insurance rates.
Guaranteed Universal Life Insurance (GUL) Has Many Other Names
We often refer to GUL as Term to age 100 or Term for Life. Other names include “term that doesn’t expire” or “no-lapse” universal life. It’s important to note that some GUL policies CAN expire before your life ends. Most carriers allow you to choose your “dial-in” guaranteed age from age 90 to age 121. We recommend selecting policies that are guaranteed to age 100, 105, 110, or 121.
If you select a policy with a guaranteed age of 90 or 95, then the rate will be slightly lower, but it might not be a Term for Life policy and it certainly isn’t “term to age 100”. Some folks are fine selecting a dial-in age of 90 or 95. However, there is the risk of outliving the policy, just like other term insurance.
A couple of carriers use the name, “no-lapse” universal life. This name simply gives people assurance that regardless of interest rates, policy fees, or other internal policy costs, this type of universal life policy is guaranteed never to lapse (as long as the premium is paid).
Let’s take a look at the rates below and then we’ll expand further on guaranteed universal life and explain how to choose the best policy.
Lowest Guaranteed Universal Life Insurance Rates for 46 Year Olds
Male
- Preferred Non-tobacco (2nd best rate class) and Standard Non-tobacco (3rd or 4th best rate class).
- Guaranteed to 100.
- Riders not added
- Monthly rates
- Rounded to nearest dollar.
| Male Face Amount | $50,000 | $100,000 | $250,000 | $500,000 |
| Rates for 46 year old – Preferred Rate Class | $47 | $72 | $172 | $327 |
| Rates for 46 year old – Standard Rate Class | $56 | $85 | $204 | $393 |
Female
- Preferred Non-tobacco (2nd best rate class) AND Standard Non-tobacco (3rd or 4th best rate class).
- Guaranteed to 100.
- Riders not added
- Monthly rates
- Rounded to nearest dollar.
| Female Face Amount | $50,000 | $100,000 | $250,000 | $500,000 |
| Rates for 46 year old – Preferred Rate Class | $43 | $58 | $145 | $266 |
| Rates for 46 year old – Standard Rate Class | $49 | $72 | $173 | $319 |
Selecting the Best Life Insurance Policy at Age 46
If you are reading this, you are interested (or just curious) about this unique life insurance product: GUL. While we like guaranteed universal life and see how it rounds out many financial protection plans, we realize it’s not for everyone. For some people, term life insurance provides affordable protection. We understand that most people want to spend as little as possible on life insurance – and get the best value.
We look at Guaranteed Universal Life insurance more closely in article that you can read here. We also discuss the pros and cons of GUL in a separate article. This article can be accessed by clicking here.
When shopping for a GUL, it is fairly easy to compare rates with companies that have the same guaranteed age. However, there is more to life insurance than rates, especially with guaranteed universal life. It’s important to look at a company’s financial strength. Another factor and an increasing trend in our industry is for carriers to offer “living benefits”. Several carriers now offer living benefits on their level term policies. So, it isn’t always so easy to compare apples-to-apples.
Check out our “5 Best Companies” article to see some of the highlights of the carriers we recommend. One carrier – that now has very competitive rates (especially for women) – is Nationwide Insurance. This carrier is not listed in the 5 Best article, but is a carrier we recently started to recommend. The article shows a couple of carriers that you won’t see on the quote engine. We can provide you with a customized quote, showing all the top companies.
Living Benefits with Term and Guaranteed Universal Life Insurance
The most common living benefits usually fall under the umbrella of Accelerated Death Benefit Riders. These riders allow the policyholder to use a percentage of the death benefit for the following: Terminal Illness, Chronic Illness, and Critical Illness. Carriers define these benefits differently. Some carriers call them policy provisions; others call them riders. The riders can sometimes be optional (at an extra cost).
It’s important to consider these benefits and riders when evaluating policies. We are glad to help with this and can point out where certain carriers have stronger riders than others. Not all living benefits are the same.
Other Important Points to Consider When Shopping for Life Insurance
We strongly recommend working with an agent who is:
- Independent
- Experienced
- Reputable
Independent agents have access to all the best carriers. The last thing you want is to purchase a life insurance policy only to find out there is one that is better several months later. We can assure you that we work with all the best carriers. Unlike some of the mega agencies, we have discretion and are not limited to only certain preferred carriers.
We recommend working with an agent who has a minimum of 10 years experience as a life insurance agent. It takes a lot of time to learn the ropes and develop relationships with case managers and underwriters. Experienced agents know how to advocate for their clients and not settle for unfavorable underwriting decisions. This is something we do for all of our clients.
A good reputation is essential. Know with whom you work. Take some time to read testimonials and verify they are legitimate ones. Our testimonial page is from real people you can look up (and contact) if desired.
Please call us for advice – we will be glad to help you.
