If you are a 52 year old or soon to be 52, then let us assure you that it’s not too late to qualify for affordable life insurance rates. Because people are living longer, mortality tables have changed in recent years. This change has had a positive impact on life insurance rates. This article will look specifically at sample guaranteed universal life insurance rates for 52 year olds.
Use Our Instant Quote Engine On This Page to See Rates for Term and Guaranteed Universal Life Insurance. Choose “Lifetime” in the drop down box.
There are many reasons to consider purchasing life insurance in your early 50s. Sometimes, there is a new need for coverage due the birth of a child, adoption, marriage or other significant life changes. Other times, it can be an article or advisor that helps that drives home the need for additional life insurance.
Perhaps this is something you have considered doing for a while and now is the right time. Regardless of the impetus, making the decision to protect loved ones from financial struggles due to your premature death is a noble thing to do.
Why Consider Guaranteed Universal Life Insurance (GUL)?
Oftentimes, people consider a guaranteed universal life insurance policy because they like the idea of providing tax-free life insurance proceeds regardless of their time of death. Purchasing a 20-year or 30-year term policy is more affordable, but it is likely you will outlive the term policy. We are big advocates of term life insurance, but we also know that permanent life insurance has it’s place. We want to help you make a decision that makes the most sense for you.
We wrote a review of Guaranteed Universal Life insurance and explain how it compares to other types of permanent life insurance in an article here. We also cover the pros and cons of GUL policies in a post you can read by clicking here.
The rates in the tables below are accurate rates (and the lowest available) at the time of this writing. However, life insurance rates change daily, so please use our instant quoting tool on this page to see the most current, up-to-date rates.
Lowest Guaranteed Universal Life Insurance Rates for 52 Year Olds
- Preferred Non-tobacco (2nd highest rate class) and Standard Non-tobacco (average health).
- Age 100 Guarantee
- Monthly rates rounded to nearest dollar.
|Male Face Amount||$50,000||$100,000||$250,000||$500,000|
|Rates for 52 year old – Preferred Rate||$60||$94||$227||$433|
|Rates for 52 year old – Standard Rate||$73||$114||$275||$532|
- Preferred Non-tobacco (2nd highest rate class) AND Standard Non-tobacco (average health).
- Age 100 Guarantee
- Monthly rates rounded to nearest dollar.
|Female Face Amount||$50,000||$100,000||$250,000||$500,000|
|Rates for 52 year old – Preferred Rate||$53||$79||$190||$361|
|Rates for 52 year old – Standard Rate||$60||$96||$226||$428|
Guaranteed Universal Life Insurance – Also Known As Term for Life
GUL is commonly referred to as Term for Life or Term to 100. We like those names since they help folks understand that GUL is different from other types of permanent life insurance. The rates above (and the ones you will see in the quote engine) are based on rates guaranteed to age 100.
We caution people and explain that referring to GUL as Term to age 100 and Term for Life can be a little misleading. Insurance companies generally allow people to select the guarantee age anywhere from age 90 to 120 or 121. Sometimes GUL plans can have much lower guarantee ages. We recommend selecting a guarantee age of 100 to 121, just to be on the safe side. Yes, rates are a little higher for longer guarantees, but it greatly reduces the risk of outliving your policy.
No-Lapse Universal Life: Another name for GUL
A couple of carriers refer to GUL as no-lapse universal life to distinguish it from the other UL products they offer. With a GUL, you are guaranteed never to have a premium increase and never to have your policy lapse, as long as the level premium is paid. This differentiates GUL from other permanent products that have “moving parts” that can cause rates to increase or policies to lapse. We have even heard GUL referred to as Universal/Term, but we’re not thrilled with that name since it is rather confusing.
How to Select the Best Guaranteed Universal Life Policy
First off, there isn’t one company or policy that we consider the best. Insurance companies tend to have “sweet spots” for various face amounts, ages, and underwriting classes. That’s why it’s important to shop and do a health assessment. We can help you understand your most probable rate classification.
In addition to the factors mentioned above (which mostly relate to the premium), there are other important considerations.
- Policy Riders: We call riders “optional benefits” that require additional premium. Some riders are really not necessary and you are better off passing. Children Life Insurance is a rider that most people do not really need. Accidental Death Benefit can sometimes makes sense. One of the most popular riders is Waiver of Premium. Waiver of Premium will keep policy from lapsing by waiving premiums in the event of a disability.
- Policy Provisions: Policy provisions are different from Riders because they are “built into” the premium. This can be a very important differentiator. The Chronic Illness Benefit and Return of Premium Benefit are offered as as built-in policy provisions by some companies. Most companies offer these benefits as a Rider (at an additional cost) and others don’t offer them at all.
- Financial Strength & Ratings. For the most part, we don’t recommend carriers that have an AM Best rating that is less than A-. A carrier’s financial ratings and outlook are important since you don’t want to have to worry about insolvency issues down the road. Selecting a company with strong financials greatly minimizes this risk.
We will gladly provide you with comparison quotes and point out the key differences in policy provisions, riders, and financial ratings.
We strongly recommend working with an independent agent to help you find the life insurance that makes the most sense for you. Independent agents offer the most choice. If we find that a financially sound carrier offers a new term or GUL policy, we will check it out thoroughly so we can offer the very best options.
In addition to working with an independent agent, you deserve someone with a lot of experience. Some of the major call centers or online agencies simply can’t ensure all their workers have the knowledge, training and experience to handle difficult situations. If you receive an unfavorable offer from a carrier you want an agent to advocate strongly on your behalf. It takes time to develop relationships with underwriters and know how to work with them.
Please call us if you would like customized quotes or if you have any questions. We’re glad to help.