November, 24 2017

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Cheapest Life Insurance Companies 2015

Cheapest Life Insurance Companies 2015

  • Price
  • Underwriting
  • Financial Strength

Who are the cheapest life insurance companies 2015?  The truth is the cheapest life insurance company will vary from person to person.  Age, health and tobacco use are just a few of the items that will determine which company will offer the lowest rate.  Since there are so many good life insurance companies in America, it’s crucial to shop around and receive multiple quotes to ensure you are receiving the best rate available.  This equates to more life insurance for your family and a lower monthly payment for you.  

Also, note that life insurance is a product that can and in most instances should be purchased based on price.  A rule of thumb is to choose a fully-underwritten policy with an insurer that has an A (Excellent) or better rating by the preeminent rating agency A.M. Best, and for no-medical exam life insurance with an A- (Excellent) rated company or better.  If you follow this rule, you will have the peace of mind knowing you are choosing a highly rated insurer and getting the best rate in country.


 

Cheapest Life Insurance Companies 2015

Since there are over 900 life insurance companies in America and countless scenarios in which one company may be cheaper over another, for the purposes of this post we will list some common scenarios to illustrate the cheapest life insurance companies 2015.  (To find the cheapest company for you, simply use the quote engine located on the right panel.)

 A 40-year old male in excellent health; best rating class $500,000 policy 20 year term:

$500,000 – 20 Year Level Term

Custom Choice UL – 20 Year No Lapse
$30.26 Select Preferred Non-Tobacco

Colony Term 20
$31.06   Preferred Best No Nicotine Use

Colony Term 20
$31.06  Preferred Best No Nicotine Use

Pacific PRIME Term 20
$31.26 Super Preferred NonTobacco

Select-a-Term – 20 Year
$31.85 Preferred Plus Non-Tobacco

 

A 40-year old female in excellent health; best rating class $500,000 policy 20 year term:

$500,000 – 20 Year Level Term

Custom Choice UL – 20 Year No Lapse
$26.43  Select Preferred Non-Tobacco

T-20/20 – 20 Year Term (NEW)
$26.54 Preferred Plus Non-Nicotine

OPTerm 20 – 20 Year Term
$27.13 Preferred Plus Non-Smoker

Colony Term 20
$27.13   Preferred Best No Nicotine Use

Colony Term 20
$27.13  Preferred Best No Nicotine Use

 

 A 40-year old male smoker in excellent health; best rating class $250,000 policy 20 year term:

$250,000 – 20 Year Level Term

TT Level Term 20
$61.75  Premier Tobacco

Pacific PRIME Term 20
$65.01   Preferred Tobacco

Trendsetter Super 20
$68.69  Preferred Smoker

OPTerm 20 – 20 Year Term
$69.78 Preferred Smoker

TermSmart 20 – 20 Year Term
$70.88  Preferred Tobacco

 

 A 40-year old female in excellent health; best rating class no exam life insurance $250,000 policy 20 year term:

$250,000 – 20 Year Level Term

SI – Sage Term 20 (Simplified Issue)
$25.76  Preferred Non-Tobacco

ANICO Signature Term Express 20
$35.64  Standard Non-tobacco

SI – Sage Term 20 (Simplified Issue)
$41.51  Standard Non-Tobacco

SI – Non Med Term 350 – 20 Year Level
$42.90 Select Non-Tobacco

SI – Non Med Term 350 – 20 Year Level
$59.18  Standard Non-Tobacco

 

A 55-year old male in great health; second best rating class, preferred, universal life insurance to age 121 $250,000:

$250,000 – To Age 121 (No Lapse U/L)

Secure Lifetime GUL II – to age 121
$269.60   Preferred Non-Tobacco

Essential Guaranteed UL 3 ($250K plus)
$270.75  Preferred Non-Tobacco

Custom Guarantee Gen 7 ($250K plus)
$270.75 Preferred Non-Tobacco

Guaranteed Protection UL – gtd to 121
$276.31  Preferred Non-Tobacco

Custom Choice UL – No Lapse to 121
$276.98  Preferred Non-Tobacco

 

Where to Find Cheap Life Insurance?

The most convenient and transparent way to find the cheapest life insurance 2015 is to use a life insurance quote engine, such as the one on this site.  Life insurance quote engines work by returning the published rates from the nation’s top companies for your age and health class.  Quote engines do have some limitations as they cannot determine who has the cheapest rates for serious pre-existing conditions such as recent caner or heat issues.  In these instances it’s best to speak to an agent directly who can ask the underwriter about your situation to give you an estimated rate.  If you work with an independent agent, he or she can shop the case around to find the lowest rate or you can call the different insurance companies independently yourself.