It may be hard to believe, but insurance rates on some term plans may be going for less as you get older. As seen in Kiplinger magazine’s March 2009 edition, “Premiums have plummeted over the past decade and you may be able to save hundreds of dollars by re-shopping your policy, even though you’re older now.

Term-insurance prices varied widely in 1998, and many major insurers were charging a 40-year-old man at least $750 per year for a $500,000, 20-year term policy.” Rest assured that prices on term policies at Navy Mutual have always compared favorably with commercial products.

For example, today with Navy Mutual, a healthy 40-year-old male, can get a 20-year term, $500,000 plan for as low as $378 per year. A healthy 40-year-old female, can get this policy for as low as $312 per year.

A wise woman once said to me, “It’s not what they say; it’s what they don’t say.” There are many life insurance companies that will market their great products, but once they hear you’re actively in the military, they slowly back off.

Mary Rose, a Navy Mutual membership representative who has been in the industry for several years cautions that, “The important thing for members to consider is that all commercial companies will quote at their very best and most deeply discounted rate. Industry wide, only about 2 percent of the general population is able to qualify for that very best rate classification.  In the military population, those eligible for that best rate is often lower due to issues such as foreign travel, aviation activities, and other acts deemed as risky by the insurance company that may be inherent to your service duties.”

At Navy Mutual, we are committed to providing low cost, term and permanent life insurance to those who are actively serving, reservists or retired.  There is no war, no aviation, or hazardous duty restrictions. Take advantage of our premiums and the passion we have for insuring those who serve.

Looking for affordable life insurance? Get free rate quotes from military-friendly insurance companies at Military.com

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