Life Insurance Quotes Based By Age | Coomes Insurance & Financial Services

When shopping for life insurance quotes online, it is important to include your correct age in order to get an accurate estimate of what a policy will cost you. The older you get, the more expensive acquiring a life insurance policy will become.

Depending on your current stage of life and circumstances, you may have various reasons for purchasing life insurance. At any age, the two most common needs for buying life insurance that we see are to either 1) protect your loved ones from the financial burden if you were to die or 2) protect a business interest.

Below you will find more information about life insurance options depending on your age.

Instant Term Life Insurance Quotes by Exact Birthdate

Our instant term life insurance quoter can provide you quotes based on your exact birth date, smoker status, and health rating. You may also customize the death benefit amount desired. To view these custom quotes based on your birthday, use the quoting tool to the right (bottom if on a mobile browser), or you can visit our instant life insurance quote page.

Insurance Age: Age Nearest or Current Age

Life insurance companies will use one of two methods when determining your “insurance age.” Most companies use a method called age nearest when determining your age on your policy, which means that if you’re within 6 months of your next birthday at the time your policy is issued (after underwriting and approval of your health class) by the insurance company, they will actually determine your rate as if you were one year older. So if your birthday was on January 1, your policy would need to be issued before July 1 to avoid an age increase. This age increase would result in your premiums being slightly more expensive.

Insight: By law, an insurance agent is able to backdate a policy’s issue date up to 6 months. If you received an age increase because you were within 6 months of your next birthday, we will look at whether backdating your policy issue to a date that falls right before that 6 months to next birthday date.

There are several term life insurance companies that use your current age to determine your age when presenting you an offer. In this case, as long as your policy is approved and issued before your next birthday, then your rates will be based on whatever your current age is. Prudential Life Insurance is an example of a company who uses current age.

In the majority of cases there will not be any change in your “insurance age” between the time you apply for life insurance and to the time the insurance company issues your policy. If you are in a situation where you could have an insurance age change, the recommended course of action would be to have your application processed as soon as possible and then ask your insurance agent whether or not backdating the policy makes sense.

If you have any questions about insurance age, please don’t hesitate to call us at (866) 609-4909.

Now that you know how a life insurance company will view your age, it is important to remember that when viewing online term life insurance quotes or the sample quotes by age that we have provided may be different than your actual rates.

Sample Life Insurance Rates by Age

Life Insurance in your 20s

If you are in your 20s and looking at purchasing life insurance, you are probably doing so because you want to protect a loved one and / or your family against the risk of your premature and untimely death. It is our experience that income protection is by far the most common need for purchasing term life insurance at this age. Although, there could be various other reasons for buying life insurance in your twenties, including: to protect a business, to cover outstanding student loans in case of your death (if your parents are cosigners on your loans, they could be on the hook), or perhaps to be used as a supplemental retirement savings vehicle to your 401(k) or Roth IRAs. Remember that life insurance premiums are based on age, health, and lifestyle. It is very likely that the cost of life insurance will never be more affordable than it is at your current age.

Inexpensive Life Insurance in your 30s

Purchasing life insurance when you’re in your 30s could be one of the best financial decisions you ever make. If you are in reasonably good health, your rates will be extremely inexpensive when compared to waiting to purchase in your forties or fifties. We usually recommend our 30 year old clients to consider maximizing the term length on their policies in order to lock in these cheap rates for as long as possible. More importantly, you want to secure life insurance coverage while you’re are in good health. Whether you have a minor change in health such as elevated blood pressure, high cholesterol or develop a more significant health issue such as type II diabetes, you are risking paying a much higher cost for life insurance coverage. Unless this purchase is to cover a short term debt obligation, it is very likely you will want to be insured for at least the next 20-30 years.

• Life Insurance Options for a 30 year old

Term Life Insurance Rates in your 40s

By the time you’ve reached your 40s, it is likely that your annual income has increased as well as your assets that you need to protect. If you have a spouse or family and still have yet to purchase a life insurance policy, there is no better time than now to do so. Rates will be much more affordable now compared to if you waited until you were in your 50s. Also keep in mind that any future health changes could make it much more costly to get insurance. Perhaps you have a small policy through your work or an small individual policy, but you’re wondering if that is enough to cover all of your needs. It may make sense to purchase additional life insurance to supplement what you already have.

Buying Life Insurance in your 50s

As someone in their 50s, there could be several reasons you are considering purchase life insurance. If you are in good health, you will find that there are still many affordable options to choose from at this age. Even if you are not in perfect health, there are options available to you.

Working with an independent agent is critical at this age because you will find that certain companies are going to provide better rates than others. Many individuals will have some type of past health history or current health condition that will be important to consider when searching for the right life insurance company. If you have any significant health condition and are willing to confidentially disclose it the information in detail with us, we can find a company that will view your health status in the most favorable light, thus offering you the most affordable premium. Our process involves contacting the insurance company and presenting your cases completely anonymously. No names, SSNs, or any other personal information. Just the facts that they will need to be able to provide a tentative offer.

Purchasing Life Insurance in your 60s

If you’re in your 60s and considering purchasing life insurance, you may be doing so for a few reasons. Perhaps you are still working and you and your spouse rely on the income, in this case you may want to protect that income with a term life insurance policy.

Life insurance can be an important piece to an estate plan or a family trust. If you are very wealthy and have an estate in excess of approximately $5.4MM, permanent life insurance could help minimize estate taxes in the event of your death. Perhaps you want to provide a financial legacy to your children or your favorite charity once you are no longer around.

Life Insurance in your 70s

At this age, you may be wondering if there are any viable life insurance plans available to you. Although your universe of life insurance products may be more limited, there are still several options to consider.

The fact is that people are living much longer than ever before. Someone in their 70s could live well into their 80s and even 90s. Life insurance companies know this and have designed specific products to cater to the senior age demographic.

More than likely you are enjoying retirement or nearing the end of your working years, and beginning to eliminate past debt obligations such as a mortgage or your children’s college education. A 70 year old who is looking to get life insurance is probably doing either for estate planning purposes, or perhaps for final medical expenses / burial expenses.

There are both term life insurance options as well as permanent insurance options available at this age. Choosing which type is suitable for you will depend on several variables including: purpose of insurance, amount needed, age, and health.

Interestingly, rates for a permanent policy at this age could be more affordable than a term policy with a short benefit period.

Life Insurance in your 80s

Hopefully by now your working years are behind you. If you do still work, it is probably because you enjoy what you do rather than depend on the income. You might be wondering if life insurance in retirement is necessary, or even possible.

Many people we speak with are surprised when they hear that life insurance is still available once you reach your 80s. If you’re considering purchasing life insurance at this age, you probably have much different motivations for purchasing life insurance than you did previously. The fact is, at this age, you are probably no longer relying on a working income and no longer have any financial dependents. Additionally, you have hopefully eliminated many of the debt obligations that were around in your younger years.


-Life insurance rates are determined largely by the age of the applicant. The older you are, the more expensive a life insurance policy will be.

-Life insurance companies use one of two methods to determine your “insurance age”, either age nearest or current age.

-You can view immediate rates from over 30 of the top rated companies based on your exact birth date by using our term life insurance quoting tool

-Age is only one factor in determining your life insurance rates. Health, occupation, and lifestyle must also be considered.

We are here to help answer any questions you may have. Please feel free to give us a call at (866) 609-4909 or email