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$1,000,000 Term Life Insurance Quotes with the Lowest Possible Rates

Jack Venturi Million dollar face amounts, Term life insurance Comments Off on $1,000,000 Term Life Insurance Quotes with the Lowest Possible Rates

$1,000,000 term life insurance quotesIf you are planning on applying for term life insurance with a face amount of $1,000,000 or higher, this is the article just for you. Probably the first question you will have is what company has the lowest rates. This is exactly what we are going to find out by breaking down Term life insurance rates with a side by side comparison. This article should answer many of your questions and point you in the right direction.

You will also find out how simple applying for these high death benefit policies really are. We are going to review Term life insurance rates from several of the most trusted and competitive life insurance companies in the nation.

$1,000,000 plus face amounts allow Term life insurance rates to be very cost effective due to the very best rate bands they fall into.

$1,000,000, $2,000,000, $3,000,000 face amounts are much more affordable than you may believe especially when you apply at a fairly young age.

We will split these quotes into three different age groups starting with age 25, 35 and then moving into age 45 to see what a ten-year difference makes on the rates. We will use a Preferred Non-Tobacco rate class with a 20-year term period. We will choose a $1,000,000 face amount for illustration purposes.

Note the results of our $1,000,000 Term life insurance quote for a 25-year-old male. 
• MetLife – $519.00
• John Hancock – $539.00
• Protective Life – $548.21
• Transamerica – $550.00
• Assurity Life – $550.00
• AXA Equitable – $555.00
• Banner Life – $556.54
• SBLI Ins. Co.- $563.99
• American General – $564.00
• North American – $575.00
• Principal National – $582.00
• United of Omaha – $582.50
• American National – $600.00
• Prudential – $605.00
• Lincoln National – $650.00
• Minnesota Life – $675.00
• Foresters – $820.00
There you have it, you can now see the $1,000,000 premium breakdown from some of the best companies available.

Let’s now look at an additional 10 years to age 35 and see what the difference the makes in the premium breakdown. (age 35 male)
• John Hancock – $561.00
• MetLife- $569.00
• Protective Life – $595.00
• Banner Life – $599.00
• Principal National – $6.00
• SBLI – $613.99
• American General – $614.00
• North American – $625.00
• American National – $640.00
• United of Omaha – $642.50
• AXA Equitable – $655.00
• Transamerica – $660.00
• Nationwide – $695.00
• Prudential – $805.00
• Lincoln National – $810.00
• Assurity – $860.00
• Prudential – $865.00
• Foresters – $870.00

*As you can see by the rates, there is very little difference in the premiums from age 25 to age 35. As you can see a 35-year-old male who qualifies for a Preferred-Non Tobacco rate class could purchase a million-dollar Term life insurance policy for less than $600.00 per year.

Here is the final comparison of $1,000,000 Term life insurance rates for a 45-year-old male in the Preferred Non-Tobacco rate classification. (45 year old male)

• John Hancock – $1,224.00
• Protective Life – $1,292.00
• MetLife – $1,299.00
• Banner Life – $1,329.00
• Principal National – $1,300.00
• Axa Equitable – $1,335.00
• Lincoln National – $1,336.00
• SBLI – $1,349.00
• Transamerica – $1,360.00
• American General – $1,364.00
• North American – $1,375.00
• American National – $1,420.00
• Prudential – $1,445.00
• United of Omaha – $1,462.00
• Minnesota Life – $1,485.00
• Nationwide – $1,535.00
• Foresters – $1,570.00

*We just increased the age of the applicant from age 35 to age 45 and we saw the rates more than double. The rates doubled due to the fact the statistics show a 45-year-old mail has a much greater change to die within the 20-year term period that would a 25 or 35-year-old would.

The statistics speak for themselves and this is exactly how the life insurance company actuaries adjust their Term life insurance rates before they publish them.

One of the morals of the story we have just learned is the importance of buying life insurance at the earliest age possible. People who are tire kickers and put off buying life insurance always pay more money if and when they ever do apply. Your age makes all the difference in the world to rates and the best rate band classifications allow you to receive a wholesale purchase price. Just about all of us will need life insurance in our lifetime, so it make sense to get it when the prices are low.

Fill out our quoting form and activate our free life insurance quote engine as much as you would like.

Our quoting system will quote up to $10,000,000 face amounts. When you are using our quoting system you will have choices in the “health class” drop down menu. I would recommend choosing “preferred” if you are in good health and “standard” if you have some medical conditions. We can give you a very accurate quote after we speak with you so there will be no surprises in the underwriting process if you decide to apply. The Term life insurance rates are always accurate and kept up to date at all times. If you have any questions or simply would like us to quote your life insurance over the phone, we can easily do that also. Keep in mind that the life insurance underwriters always have the final word on what the rates will be once the underwriting process has been completed.

Life insurance procrastination will always cost you more money. Apply for your life insurance as early as possible so you don’t have to pay any more than you have to.

Here is our service area where we shop the market to help our clients find the best low cost life insurance products at the lowest possible premiums. Thank you for visiting our website and reading our blog post. Feel free to call us 7 days a week and evenings with any questions you may have.

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About the author

Jack Venturi

Jack Venturi is the owner of and is a licensed Insurance Broker with more than 25 years experience specializing in all forms of life insurance products. You may learn more about him at

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