Lifequotes.com: Life Insurance Rates Fall to All-Time Lows; Great Deals Abound For Life Insurance Shoppers

DARIEN, Illinois (February 17, 2016) – Lifequotes.com, the online, paperless life insurance exchange, announced today the results of a new survey of 50 leading life insurance companies that confirms life insurance rates are now at all-time lows.

“Continuing a 15 year trend, life insurance rates are now at all-time lows,” said Rob Goss, executive vice president.  “In addition to low prices, we’ve even seen a loosening of some underwriting guidelines in recent years.  By providing instant quotes from up to 50 leading companies, and allowing customers to buy online in total privacy, Lifequotes.com is dedicated to simplifying and speeding up the process of buying life insurance.”

For example, some of the lowest premiums include:

  • A 30 year-old female who stands up to 5’8″ in height and weighs as much as 190 lbs. can now buy a $250,000, 10-year term life policy for only $102 per year.
  • A 40 year-old female with a cancer death in her immediate family history can buy $250,000 of 30-year level term insurance for just $299 per year.
  • A 50 year-old male can buy a $500,000, 20-year term life policy for $924 per year, even if he smokes a cigar during his weekly golf outing.
  • A 55 year-old male whose blood pressure is controlled by medication can now buy $1 million of 20-year term life insurance for only $2,743 per year.
  • A following annual sample annual premiums were obtained from a survey completed by Lifequotes.com of 50 leading life insurance companies as of February 2016.

$250,000 Term Life Sampler
Female Annual Premiums
Age10 Year20 Year30 Year
30$102$140$205
35$104$146$235
40$126$182$294
45$177$271$434
50$238$374$624
55$342$582$1,104
$250,000 Term Life Sampler
Male Annual Premiums
Age10 Year20 Year30 Year
30$112$156$238
35$112$165$267
40$136$211$357
45$197$336$525
50$277$382$843
55$444$761$1,547
$500,000 Term Life Sampler
Female Annual Premiums
Age10 Year20 Year30 Year
30$144$210$329
35$149$221$384
40$192$298$519
45$289$466$764
50$413$658$1,169
55$608$1,071$2,124
$500,000 Term Life Sampler
Male Annual Premiums
Age10 Year20 Year30 Year
30$164$240$394
35$164$254$454
40$212$341$627
45$328$591$989
50$485$900$1,555
55$821$1,441$3,002
$1,000,000 Term Life Sampler
Female Annual Premiums
Age10 Year20 Year30 Year
30$219$347$570
35$228$371$680
40$289$519$950
45$495$837$1,424
50$732$1,222$2,000
55$1,105$1,983$3,982
$1,000,000 Term Life Sampler
Male Annual Premiums
Age10 Year20 Year30 Year
30$247$413$704
35$257$433$814
40$319$614$1,190
45$556$1,103$1,889
50$870$1,698$2,970
55$1,507$2,743$5,686

“Because life premiums are at or near historic lows, buyers can now lock-in great rates for their choice of ten to thirty years. And we also offer lifetime policies that feature level death benefits and level premiums for life,” Goss continued.

Economic uncertainties have made the need for basic life insurance more important than ever because personal life insurance proceeds are generally not taxed as income to the beneficiary.

When it comes to life insurance, many U.S. adults are uninsured or underinsured. According to the Life Insurance Market Research Association (LIMRA), a whopping 30 percent of U.S. households (35 million) do not have any life insurance and only 44 percent of U.S. households own an individual life insurance policy. Individual life insurance sales are currently at a 50-year low.

Lifequotes.com advises that it is important to obtain the advice of a competent, licensed insurance agent and have a full understanding of what the conversion and/or renewability privileges are for the policy you are considering.

According to the Life and Health Insurance Foundation for Education (www.lifehappens.org), the cost of basic term life insurance has fallen by about 50 percent over the past decade.

Past Accolades for LifeQuotes.com

  • 2021: LifeQuotes.com Celebrates 1,000 Google Reviews Averaging 4.8 Stars
  • "2017 Life Insurance Innovation" award winner... Life Insurance Direct Marketing Association
  • "The premier Web site in terms of details and ease of use..." -- Yahoo! FINANCE
  • Twice Ranked #1 life insurance website by Kiplinger's
  • Named a "100 Most useful website" by MSN Money
  • Past Winner: Forbes' "Best of the Web"
  • "The best website I've found..." -- Dallas Morning News
  • "...we'd recommend you do your insurance shopping here..." -- Barron's
  • "...outstanding - as good as a Web site on insurance can possibly be. Hats off and a gold star to the top insurance site on the Web." -- Insurance for Dummies

About LifeQuotes.com

LifeQuotes.com is an insuretech pioneer that caters to self-directed life insurance shoppers at www.lifequotes.com. The company's innovative technology allows customers to instantly view quotes from 40 insurers and buy from the company of their choice on a paperless basis. The company's comparative rater also reveals underwriting guidelines for improved accuracy. More than 390,000 people have purchased policies through LifeQuotes.com since the firm's founding in 1984. According to Data Bridge Market Research, the insuretech market is expected to witness market growth at a rate of 42.4% in the forecast period of 2021 to 2028 and is expected to reach $46 billion by 2028.

Survey Methodology

Life insurance policies described, quoted, shown and illustrated in this press release may not be available in all states and certain terms may vary by state where required by state law. The supplemental policies described provide limited benefits and are NOT comprehensive health insurance or major medical insurance and they do NOT satisfy a person's individual obligation to secure the requirements of minimum essential coverage under the Affordable Care Act (ACA). For more information about the ACA, refer to http://www.HealthCare.gov. Policies examined include American Family Life Insurance Company, Madison, WI, policy form ICC14-LD10001; American National Insurance Company, Galveston, TX, policy form ART 12; Assurity Life Insurance Company, Lincoln, NE, policy form I L1702; Banner Life Insurance Company, Urbana, MD, policy form ICC08-LIA, and William Penn Life Insurance Company, Garden City, NY, policy form LIA-WP, both Legal & General America companies; Foresters Financial of Toronto, Canada, under form ICC16 770620; Haven Life Insurance Agency, Issued by C.M Life Insurance Agency, LLC, a subsidiary of Massachusetts Mutual Life Insurance Company (Mass Mutual) of Springfield, MA. Policy form # ICC19PCM-SI 0819); Lincoln Life & Annuity Insurance Company of New York, Syracuse, NY, policy form LEF06321-18_7-10, and The Lincoln National Life Insurance Company, Fort Wayne, IN, policy form LEF06321_5-12, both insurance company affiliates of Lincoln National Corporation, whose marketing name is Lincoln Financial Group; John Hancock Life Insurance Company (U.S.A) of Boston, MA 02117, on policy form number ICC16 2016TERM and John Hancock Life Insurance Company of New York, Valhalla, NY 10595, Minnesota Life Insurance Company and Securian Life Insurance Company of St. Paul, MN under policy number F76777-15; Pacific Life Insurance Company of Newport Beach, CA, policy form P16YLT. North American Company for Life & Health Insurance, Chicago, IL, policy form LS174; Penn Mutual Life Insurance Company of Horsham, PA, under policy form ICC13-LT; Principal Life Insurance Company of Des Moines, IA, under policy form ICC17 SN 104; Protective Life and Annuity, Birmingham, AL, policy form TI-15; Pruco Life Insurance Company of New Jersey, Newark, NJ, policy form ORD 96200-2010, me