Life insurance rates in your late 40s can be surprisingly affordable. Although life insurance rates increase with age, the amount of the incremental increase is not large. However, rates for people in their 50s, 60s and older experience much higher rates. Purchasing life insurance in your 40s can make sense for many reasons.
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People often reach their peak earning years in their mid to late 40s. With increased income, lifestyle changes are common. So, this is a very good time to reevaluate your retirement plans and protection needs. Making sure you have adequate coverage in place for life and disability insurance is important to do every few years, but especially with any major life changes.
This post will look specifically at guaranteed universal life (GUL) insurance rates for 48 year olds. Our goal is to make the process of shopping for life insurance as easy as possible. The sample rates are a quick and simple way to see the cost of GUL. The rates we use in the table are the lowest rates available for guaranteed universal life.
Rates change frequently, so we recommend using our instant quoting tool for the most accurate, up to date rates.
Guaranteed Universal Life Insurance Rates for 48 Year Olds – Lowest Rates
The rates in the tables below are based on two underwriting classifications for both men and women. We use the Preferred Non-tobacco and Standard Non-tobacco underwriting classes. Most carriers offer three or four underwriting classes for non-smokers. Almost all carriers offer a “Preferred Best” class. However, less than 10% of all applicants qualify for the best class. This varies among insurance companies. Carriers have their own underwriting guidelines and some are more lenient than others.
Tobacco rates are often double the rates of Non-tobacco users. Again, some carriers have more “aggressive” underwriting for tobacco users (or for those who recently quit). It’s important to discuss your situation with us, so we can advise you properly.
Male
- Preferred Non-tobacco and Standard Non-tobacco
- Age 100 Guarantee
- Monthly rates rounded
| Male Face Amount | $50,000 | $100,000 | $250,000 | $500,000 |
| Rates for 48 year old – Preferred Rate Class | $51 | $79 | $188 | $355 |
| Rates for 48 year old – Standard Rate Class | $61 | $94 | $226 | $431 |
Female
- Preferred Non-tobacco AND Standard Non-tobacco
- Age 100 Guarantee
- Monthly rates rounded
| Female Face Amount | $50,000 | $100,000 | $250,000 | $500,000 |
| Rates for 48 year old – Preferred Rate Class | $46 | $65 | $162 | $293 |
| Rates for 48 year old – Standard Rate Class | $52 | $80 | $190 | $353 |
Guaranteed Universal Life Has Many Other Names
Often times, GUL is referred to as Term to 100 or Term for Life. Sometimes people ask about term that doesn’t expire. Since guaranteed universal life insurance has many of the same characteristics as term life insurance, the alternate names are appropriate.
Word of Caution: Not all GULs are guaranteed for life. Most carriers allow you to select the guaranteed age (from 90 to 121), so if you select a guaranteed age of 90 or 95, it’s possible to outlive your policy.
Of course, it is possible to outlive a policy that is guaranteed to age 100 or 105, but highly unlikely. To be on the safe side, many people select the highest possible age guarantee of 120 (or 121 with some companies). We use age 100 for our sample rates, but you can request to see quotes for various guarantee ages.
A few companies refer to their GUL products as no-lapse universal life. This name serves to distinguish GUL from other types of universal life insurance. Many other types of universal life insurance have “moving parts” and do not offer the guarantees of a GUL policy. The no-lapse universal life name underscores the distinguishing characteristic of GUL. These plans are guaranteed never to lapse if the premium is paid. The premium is guaranteed never to increase.
To learn more about GUL and how they compare to other types of life insurance, please click here. We also make a list of the pros and cons of GUL in an article you can read by clicking here.
Is a Medical Exam Needed When Applying For Coverage?
To qualify for the best possible life insurance rates, you will need to complete an application and have an exam performed. The exam requirements vary, depending on age and face amount. Typically, an examiner will come to your home or office at a time that is convenient for you. The cost of the exam is free (paid for by the life insurance company). In cases involving higher face amounts, the company will require a blood and urine sample. The examiner will also take measurements, check blood pressure, and ask health questions.
Sometimes other tests, such as an EKG, are required. Also, insurance companies can request medical records if deemed necessary.
For people who are adverse to needles or simply don’t want an exam, there are some carriers that offer Guaranteed Universal Life insurance on a non-medical basis. This is often called “Simplified Issue” and the rates are usually similar to the Standard underwriting classification – sometimes slightly higher.
The Simplified Issue GUL can make sense for people who want a policy issued quickly and don’t want an exam. Again, the reasons for doing this vary. It’s a decent option, especially for folks who know they won’t receive the preferred rate due their current health.
How to Choose the Best Guaranteed Universal Life (Term for Life) Policy
We place a lot of emphasis on comparing rates and finding the company with the lowest premium. There are other important considerations which we expand on below.
- Financial Strength/Stability/Ratings. We cover the financial ratings of each carrier in our carrier reviews. It is important to select a carrier that has strong financial ratings and their financial outlook is positive.
- Policy Riders (Optional Benefits). Some of the most common riders are Child(ren) Life Insurance (usually available up to $10,000), Accidental Death Benefit, and Waiver of Premium. Waiver of Premium will keep policy in force by waiving premiums in the event of a disability.
- Policy Provisions (Built into the Policy). It’s easy to overlook policy provisions, but this can make a significant difference in your choice of carriers. The Chronic Illness Benefit and Return of Premium Benefit are offered as a policy provision by some companies. Other companies only offer these benefits as a Rider (with additional cost) and others don’t offer them at all.
We can help you understand the cost and value of Riders and Policy Provisions so you can make an informed decision and not waste money.
Final Thoughts
We always recommend working with an independent agent who has a lot of experience. You deserve to see all the best companies on the market, not just 5, 10 or 15. As independent agents, we have the ability to work with ALL the best life insurance companies. Also, make sure you work with someone who has at least 10 years experience as an agent/advisor. It takes a long time to become proficient in this industry and you deserve expert care and service.
