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Best Life Insurance for Under $50 Month

best life insurance under $50 month

Best Life Insurance for Under $50 Month

A quality life insurance policy will allow you to continue providing for your dependents if you were no longer here.  It can eliminate certain bills such as the mortgage or rent payments, and pay for the day to day expenses such as food, auto, and other costs you may currently be obligated to pay.  Also, a good life insurance can provide immediate funds to satisfy a funeral, which runs an average of $7k to $15k-due immediately. 

Most importantly, a good life insurance policy will provide you with peace of mind, knowing that if anything were to happen to you, those depending on you and your paycheck will not become destitute. 

So you have a budget of $50 month or less that you want to spend on life insurance-what type of policy can you get?

Fortunately, since prices have dropped to all-time lows, the amount of coverage you can purchase for this price is unbelievable.

Let’s take a look at some of the best policies available for under $50 month:

30-Year Old-excellent health, non-smoker

Male-$500,000 policy 30 year term= $33 month with SBLI

Female-$500,000 policy 30 year term= $27 month with SBLI

40-Year Old-excellent health, non-smoker

Male-$750,000 policy 20 year term= $44 month with Banner Life

Female-$750,000 policy 20 year term= $38 month with Banner Life

50 Year Old-excellent health, non-smoker

Male-$300,000 policy 15 year term= $40 month with North American Life

Female-$300,000 policy 20 year term= $29 month with SBLI

60 Year Old-excellent health, non-smoker

Male-$100,000 policy 15 year term= $40 month with SBLI

Female-$100,000 policy 15 year term= $31 month with North American Life

Permanent Coverage-Universal Life-60 Year Old-excellent health, non-smoker

Male-$25,000 policy, permanent coverage, $42 month with North American Life

Female-$25,000 policy, permanent coverage, $37 month with North American Life

Bottom Line

As you can see above, there are terrific deals on life insurance available if you choose the right company.  Since every company has its own underwriting guidelines and niches, the only way to know if you are receiving the lowest rate is to shop around.  You can do this by receiving quotes from different companies individually or use a broker who can do the shopping for you. 

See what rates you qualify for.  Just enter your zip code and compare!

Looking for a free needs analysis or prefer to speak with a live agent for free?  Call (888) 988-5394

*Rates as of 5/06/2013. The information in this post is for informational purposes only and is not a guarantee of rates and insurability.  Rates and eligibly are subject to the underwriting guidelines of the insurance companies and state in which you live.

Photo: 401(k) 2013