In this article I’m going to write about 10 year term life insurance rates – including which companies have the best rates for 10 year term life insurance, examples of quotes for 10 year term,medical vs non medical exam 10 year term life insurance.
If you would like to compare rates for term life insurance you can use our instant quote tool right below this paragraph, otherwise keep reading for more information on 10 year term life insurance rates.
There are several reasons to consider a 10 year term policy:
10 Year Term Life Insurance is Cheap:
If you are looking to get the most coverage at the cheapest price, a 10 year term policy is the way to go. 10 year term will not make sense for everybody, for some 15,20,or 30 year term may make more sense, however 10 year term will be your best priced option for life insurance – so if you need life insurance and have a limited budget, 10 year term life is the way to go.
Life Insurance to Secure a Loan
If you need life insurance to secure a personal or business loan, a 10 year term life insurance policy would be the best choice. Typically your loan will be for 10 years or less and this coverage will satisfy the lender, bank or the SBA (small business administration).
10 Year Term Life Insurance – Coverage for the Years You Need it
A 10 year term policy would also be suitable to secure coverage when you need it most. If you have kids over age 10, a 10 year term policy would make sure that your kids are protected until they are able to be on their own and not rely on you for income.
Perhaps you are in your 50s or 60s and within 10 years of retirement – a 10 year term policy would make sure that your spouse/partner would have a replacement of your income should the worst happen.
10 Year Term Life Insurance Rates – Examples of Pricing
So you have an idea of pricing for 10 year term life insurance, I’ll provide some examples of pricing for a 40 year old, 50 year old and 60 year old male for $250,000 and $500,000 of coverage. Note that pricing for females of the same age would typically be less since women have longer life expectancy than men. I’ll provide pricing at Preferred Best Non Tobacco rates for those in excellent health, standard non tobacco for those in average health (for example overweight individuals) and standard tobacco rates. The rates below are monthly rates.
10 year term life – $250,000 40 year old Male:
$12.09 at Preferred Plus Rates
$21.57 at Standard Rates
$61.69 Smoker Rates
10 year term life – $500,000 40 year old Male:
$18.99 at Preferred Plus Rates
$37.85 at Standard Rates
$117.50 Smoker Rates
10 year term life – $250,000 50 year old Male:
$24.59 at Preferred Plus Rates
$48.94 at Standard Rates
$143.28 Smoker Rates
10 year term life – $500,000 50 year old Male:
$43.50 at Preferred Plus Rates
$92.66 at Standard Rates
$280.88 at Smoker Rates
10 year term life – $250,000 60 year old Male:
$62.09 at Preferred Plus Rates
$116.80 at Standard Rates
$301.88 at Smoker Rates
10 year term life – $500,000 60 year old male
$117.68 at Preferred Plus Rates
$215.52 at Standard Rates
$589.60 at Smoker Rates
10 Year Term Life – Companies with the most competitive rates:
While we work with over 30 life insurance carriers, here are the top 10 life insurance companies for 10 year term life with the most competitive quotes:
Top 10 Life Insurance Companies for 10 Year Term Life
Medical Vs. Non Medical 10 Year Term Life
If you need to get your life insurance quickly, or if you simply want to avoid having a medical done, consider getting a No Medical Exam Life Insurance policy. You can typically get up to $250,000 of coverage without a medical exam. If you are in excellent health, you will get better rates with a medical exam, and we can help you compare rates for between companies that require a medical vs life insurance companies that don’t require a medical exam. If you are considering another term period we can also help you compare rates, for example 10 year term vs 20 year term.