$25,000 Term Life Insurance Policy: What are my options?

If you are looking for a $25,000 term life insurance policy, you may be surprised that there are limited choices. Many life insurance companies have minimum coverage amounts of $50,000 or $100,000. In this article I’ll highlight a couple of life insurance companies that do offer $25,000 of coverage and discuss when a medical exam is required and when you wouldn’t need a medical exam. I’ll also provide some examples of pricing in this article. Continue reading to learn more about Life Insurance quotes over 50.
When you’re buying life insurance, it can be a complicated process. There are dozens of different factors that you’ll need to consider and thousands of different companies that you can choose between. It’s vital that you get the best plan to meet your needs. Luckily, we are here to make the process as quick and straightforward as possible. We understand how important life insurance is, and we want to help you make the best decision for your family.
You can compare rates for yourself right below this paragraph, or continue reading for more information on a $25,000 term life insurance policy.

$25,000 Term Life Insurance Policy: Transamerica Life Insurance

When it comes to looking for a life insurance policy under $100,000, Transamerica is an excellent choice. Transamerica has competitive rates and offers coverage starting at $25,000.
Here are some highlights of what Transamerica offers:                                                                   $25,000 Term Life Insurance Policy

  • Issue Ages from 18-80. Yes even if you are in your 70s or 80 years old, you can get a term life policy with Transamerica.
  • Ages 18-60 - No medical exam required between $25,000-$99,000
  • Ages 61-70 – No medical exam required between $25,000-$50,000
  • Transamerica offers term lengths of 10,15,20,25, and 30 years.

Term Life Insurance with Transamerica – Examples of Quote

For this example, let’s take an example of a 65 Year Old Male Non-Smoker applying for $25,000 of 10,15, and 20 year term, rates will be much higher for a smoker applying for life insurance coverage.
Here are examples of pricing:

  • $25,000 10 Year Term Life for 65 Year Old: $43.73 Monthly
  • $25,000 15 Year Term Life for 65 Year Old: $49.85 Monthly
  • $25,000 20 Year Term Life for 65 Year Old: $60.11 Monthly

As you can see from these examples, pricing even at age 65 is affordable for term life with Transamerica.

Transamerica No Medical Underwriting:

Between ages 18-70 Transamerica will not require that you have a physical exam to get coverage for any amount under $50,000. They will however request your medical records from your doctor and will use the information in your medical records to make a decision for coverage. Expect about 3-4 weeks for a decision from the time of application.
Because these policies are much smaller than a traditional life insurance plan, they are not going to require a medical exam, which is an excellent benefit for anyone that’s in poor health or has been declined for life insurance coverage in the past. Everyone deserves to have life insurance, and your health shouldn’t get in the way of you having that protection.

High Risk Life Insurance Without A Medical Exam

One of the benefits of Transamerica is that you can get a policy without a medical exam. Even if are considered “high risk”. For example if you have diabetes, hepatitis C, asthma, Crohn’s disease, Multiple Sclerosis (MS), sleep apnea, or other pre-existing conditions, you may still qualify for a policy with Transamerica. Transamerica will order your doctor’s records, and potentially approve you based on previous medical history. Unlike other no medical exam companies that don’t order your medical records and would not approve you in these cases.
In addition if you are in the state of New York, you can get coverage with Transamerica. I bring up NY State specifically because there are very limited options in NY for no medical exam life insurance.

$25,000 Term Life Insurance – Fidelity Life

If you are looking to get a $25,000 term life insurance policy in place quickly, Fidelity Life is a great choice. Unlike Transamerica, Fidelity Life will approve you for  Fidelity coverage typically within 24 hours.

Here are some highlights of Fidelity Life’s Rapid Decision Express No Medical Life Insurance:

  • Anywhere from $25,000 - $250,000 of coverage available.
  • Ages 18-65 Available
  • Term options for 10,15,20,30 year term depending on age.

Let’s give an example again of a 65 year old looking for $25,000 term life insurance policy. In this case Fidelity Life will only offer a 10 year term option.

Pricing: $46.07 monthly for a 65 year old male non smoker.  A 65 year old female non smoker would pay $33.73 per month.

Differences Between Transamerica And Fidelity Life

  • If you need to get coverage quickly, Fidelity Life will take 24 hours to approve you, while Transamerica will take a few weeks.
  • Transamerica offers coverage up to age 80, while Fidelity Life offers coverage up to age 65.
  • If you have a pre-existing health condition, Fidelity Life is not likely to approve you, while Transamerica will.

How Much Life Insurance Do You Need?

Before you buy one of these $25000 term life insurance plans, it’s important that you calculate how much life insurance your family will need if something tragic were to happen to you. Not having enough life insurance could leave your family with additional expenses and no money to pay off those bills. There are several different factors that you’ll need to account for when determining your life insurance needs.
The first number that you should look at is your debts and other final expenses. Your family will be responsible for any outstanding debt when you pass away. Your life insurance plan will give them the money that they need to pay off any of your debts and other final expenses like funeral fees. If you don’t have a large of major debts like a mortgage, one of these smaller insurance plans could be an excellent option for you.
The next number that you should consider is your annual income and how many people rely on that source of income every month. The secondary goal of your plan is to give your loved ones the money that they need to replace your paycheck if something tragic were to happen to you. If you don’t have anyone that relies on your paycheck, then you can consider purchasing one of these smaller policies and save money on your insurance coverage.

Getting Quality Term Life Insurance

Looking for life insurance is not the most fun purchase. Nobody wants to think about his or her own death, but it’s vital that you plan for the worst. Not having life insurance coverage could leave your family with a mountain of debt. Finding the perfect insurance policy can be an overwhelming process, but it doesn’t have to be. Our agents are here to help connect you with the best life insurance plan to meet your needs. It’s our goal to ensure that you’re getting the best plan at an affordable rate.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family will need. If you have any questions about life insurance or the different options available to you, please contact one of our agents today. We would be happy to answer those questions and get the life insurance process started.