Cheap Life Insurance

Buying term life, comparing online quotes, and knowing how many companies set their premiums can help you find a cheaper life insurance policy.


cheap life insurance


Cheap Life Insurance for adults

cheap life insurance for adults Finding cheap life insurance quotes online is easier now than before. There are two ways to get cheap life insurance for adults: directly from the company website and through independent insurance agents. Also, remember that each life insurance provider charges different premiums for a similar amount of coverage, so it is wise to shop around first to find the best deal before deciding to get one. Here at Coach B, we can find the cheapest life insurance companies and guide you in finding the best company that suits your individual needs and budget.


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Nine Factors Affecting Pricing For Cheapest Term Life Insurance

cheapest term life insurance

  1. Length of the term
  2. Age
  3. Amount of the coverage that you need
  4. Gender
  5. Family
  6. Health history
  7. Tobacco use
  8. Occupation
  9. Hobbies

Length of Term: In this case, the longer your term is, the higher premium to pay. 

Amount of Coverage: The number of benefits and the type of life insurance will dictate your monthly premium. Therefore, the more comprehensive your coverage is, the higher rates will be.

Age: It is the most crucial factor that will determine the cost of an insurance policy. Hence, the older you are, there is the higher chance of filing a claim, and so the more you need to pay higher. 

Gender: Women, according to statistics, live longer than men. So, insurance companies are giving higher rates for men.

Health and Family History: Questions about health and family history are an important part of any insurance provider’s underwriting process. It will help them determine how risky you are as an insured. 

Bad Habits and Lifestyle: If you are a chain smoker, it will come out on the result of your medical exam. Smoking and other bad habits like drinking alcohol are detrimental to health. Also, if you are doing a risky job and dangerous hobbies like sky diving, hiking, and others, it may affect the rates.

Cheap Life Insurance for family

cheap life insurance for familyGetting term life insurance is crucial for the whole family as it can offer security, so it is essential to look for the right policy that suits your needs. However, it does not mean that you should tradeoff quality over the cheapest policy. It is still possible to acquire a comprehensive plan, even a cheap life insurance no medical exam policy without breaking the bank. It is easier to scout for the best plan that fits into your budget if you start young, get a term life policy, and compare quotes from diverse insurance providers. Comparing quotes can save you around $1,300 every year.

How to get cheap life insurance without a medical exam, you may consider the following companies. SBLI, Assurity, Mutual of Omaha and Foresters is far way more affordable than others.  These companies can offer the best deal when it comes to life insurance packages.  These carriers are known for providing affordable life insurance with no medical exam.


Best Cheap life insurance for seniors

cheap life insurance for seniorsBecause of your age and current health situation, it may leave you with fewer options to get cheap life insurance  seniors. If your age is below 70 and you are in good health, there aren’t any significant restrictions. You may have to widen your search to a broader set of insurance companies, as some insurers will have specific limits for the age group that can purchase a particular product.

Suppose you’re below 80 or reasonably healthy. In such a case, you should qualify for the term or guaranteed universal life insurance policies that offer low rates for seniors. However, if you do have some pre-existing medical conditions, guaranteed whole life insurance may be your best option for getting coverage.

Whatever your age, you should still evaluate life insurance policies according to your family’s needs goals, as these are important to determine your best coverage.

The cheapest an best life Insurance companies

best life insurance companiesOne of the biggest reasons for acquiring life insurance is to take care of your loved ones once you are gone. Therefore, your family’s security is in the hands of the insurance company, so better to choose one with a good reputation of providing quality and affordability at the same time. Aside from the three companies mentioned above, take a look at the list below if want you know where to get cheap life insurance with full medical exam underwriting.

  • Banner Life: This company is on top of the list when it comes to the cheapest coverage with the lowest monthly premium of $46.63. This amount is based on a healthy 35-year-old woman and acquired a 20- year term policy.
  • Pacific Life: It lands in the second place to offer a $46.72 monthly premium rate. 
  • Principal: This insurance provider can offer an approximately $47.18 monthly rate for an average healthy individual.
  • Protective: You can get as low as a $57.32 monthly premium from Protective Life Insurance. 

Using online platforms like Coach B’s quote and apply can help you to compare prices and packages from different insurance providers. Also, getting the help of an independent insurance provider like Coach B. can save you time and money because they will make the comparison for you according to your unique needs and budget.

Cheap Life Insurance Quotes

cheap life insurance quotesBuying life insurance is one of the biggest decisions that you will make in your life. Therefore, it is important not to rush if you want to find cheap life insurance. It is crucial to know first how much you and your family needs, your financial stability, and what type of policy suits you. 

Busy individuals who want to get cheap life insurance quotes can count on Coach B. to compare different free quotes available online from diverse insurance providers. It is possible to get cheap life insurance with no physical exam, especially if you get quotations from different providers. However, prices may vary depending on the type and coverage you choose and personal factors like your age, gender, and health status. 


Cheap Life insurance no medical exam

cheap life insurance no medical examTwo standard life insurance policies don’t require a medical exam: simplified issue and guaranteed issue. Understanding what they both offer and the differences between them can help you make an informed decision about which cheap life insurance without medical exam will work best for your needs.

Simplified issue

A simplified issue policy requires you to answer a detailed questionnaire about your health, medical history, and family medical history. You will also need to provide access to your previous medical records. You will not have to undergo a medical exam. The answers to your questionnaire and medical records are all that’s needed.

The premiums for this kind of policy are higher than for a traditional approach with a health exam. Coverage may be capped at anywhere from $25,000 for $300,000, depending on the results of your evaluation. Depending on your policy, simplified issue insurance can be written for term life or whole life coverage.

A simplified issue can be a good fit if you’re looking for:

  • Convenience: Simplified insurance is a good bet if you don’t want to deal with a medical exam. A recent study found that 47% of Americans prefer to buy life insurance through a simplified process.
  • Quick approval: With no medical exam, you can get covered right away, rather than waiting weeks for processing and results. This may work well if you need coverage fast, like for an upcoming trip.
  • Coverage with health issues: Concerned about your health? Health issues like controlled diabetes or a GI condition can complicate life insurance approval. Simplified issue is designed to help people who may not qualify for traditional policies get the coverage they need and protect their families.

One reminder: It’s essential to disclose any medical conditions when applying for a policy. If the insurance company discovers you didn’t say something after you die, the carrier can void your policy. If this happens, your beneficiaries won’t receive the death benefit you planned.

Guaranteed issue

If you don’t qualify for traditional or simplified issue life insurance, either due to pre-existing conditions or premiums that are unaffordable for you, you still have options. You may want to try and consider a guaranteed issue life insurance policy.

When you apply for guaranteed issue life insurance, there is no medical exam. Guaranteed issue policies require answers to only a few questions about your health information and medical history.

These policies generally have higher premiums concerning the death benefit, usually capped at $25,000 or less. Many policies come with graded death benefits, meaning that if you die within the first two or three years after policy issuance, your beneficiaries may receive an amount equal to only premiums plus interest.

The guaranteed issue may be a good fit if you’re looking for:

  • No-questions-asked coverage. Guaranteed issue lives up to its name, helping to make sure that you’re covered regardless of your health or age. A type of permanent insurance, it will last as long as your premiums are paid. If you’re facing a severe condition, like cancer or heart disease, the guaranteed issue can help provide for your family after you’re gone.
  • A way to cover final needs. Since the coverage amounts are lower than other types of life insurance, many people use the guaranteed issue as a form of final expense insurance. It can help you cover funeral expenses or related medical bills and pay off end-of-life debts. The guaranteed issue can also give you the means to leave a small legacy behind for your children or grandchildren.


Which is cheapest form of life insurance?

Term life insurance is typically the cheapest form of life insurance because it has no cash value and only covers you for a specific number of years. Once a term life insurance policy ends, you will no longer have coverage, and if you pass away after the term ends, your beneficiary won’t receive a payout.

How Much Life Insurance Do I Need?

  • Debt and final expenses: Add up your debts, other than your mortgage, plus an estimate of your funeral expenses.

  • Income: Decide for how many years your family would need support, and multiply your annual income by that number.

  • Mortgage: Calculate the amount you need to pay off your mortgage.

  • Education: Estimate the cost of sending your kids to school and college.

By adding all of these obligations together, you get a much more well-rounded view of your needs. However, while this formula is more comprehensive, it doesn’t account for the life insurance coverage and savings you already have. It also doesn’t consider the unpaid contributions a stay-at-home parent makes.

How Much Is Life Insurance?

The average cost of life insurance is $27 a month. This is based on data provided by Quotacy for a 40-year-old buying a 20-year, $500,000 term life policy, which is the most common term length and amount sold. But life insurance rates can vary dramatically among applicants, insurers and policy types.

Meet the team

About Coach B.

After starting his financial career with Phoenix Home Life Insurance Company back in 1992, Scott decided he wanted to provide people with an easier and more enjoyable way to buy life insurance. That was the start of Coach B. Life Insurance, whose mission is to be transparent, honest, and helpful to customers — without ever bugging or pushing them.

In the years since then, he has worked tirelessly to improve the process of shopping for insurance. His goal is to make sure that everyone who comes to Coach B. — whether they end up buying a policy or not — has the best possible experience.

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