Replacing Employer-Sponsored Life Insurance Plan: For 47 Year Old man

By James Tobin, CFP®

Critical Takeaways

  • Choice of best carrier depends on your health
  • Rates Increase Significantly At Age 50
  • Independent agents are the best choice for applicants with existing health issues

Expert Review Of Life Insurance For 47 Year Old man

Jim Tobin promo

Reviewed by

Jim Tobin, CFP®

Why you can trust this review

At Workers Bequest, we value our editorial independence. We keep our reviews strictly factual so you can use them to make informed decisions. Life insurance carriers referred to on this site do not approve reviews. 

If you’re a 47-year-old man looking to get an upgrade for an Employer-Sponsored Life Insurance plan, you’re bound to have certain concerns and questions on your mind. But don’t worry – we’ve got your back. In this review, we’ll be answering a series of questions that we’ve been asked by many of our clients who were in your position.

However, please remember that these answers pertaining to life insurance are not a catch-all. There are many other variables that need to be taken into consideration as well. For instance, selecting the best insurance company for your needs will require a complete evaluation of your state of health and existing conditions.

Is  Age 47  A Good Time For A Man To Get Life Insurance

A lot of finance professionals advise their clients to obtain life insurance as early as possible if they have people who are dependent on them.

Although it’s not untrue, it does not answer a very important question – when is the right time to purchase an insurance policy?

It’s a twofold answer – For men, the best time would be when they’re healthier and younger. For women, we recommend the same strategy with a twist. The twist being that once they reach their 40's they will want to replace or ladder the existing policy to cover them until retirement.

Female life insurance with a twist

Here’s the reason – insurance premiums tend to be costlier as men start approaching the age of 50 whereas women can enjoy lower premiums even after reaching that age. If you purchase an affordable 30-year insurance policy, you’ll not have to be worried about insurance till your late 70s. Additionally, since most health issues tend to manifest themselves after the age of 50, it’s important to take action before it gets too late.

How Does A 47 Year Old man Decide On The Amount and term Of Coverage Needed?

Financial professionals make use of many methods for determining the right life insurance policy value that will be ideal for your needs. As a matter of fact, some are notorious for compiling 100-page reports before making a decision.

At Workers Bequest, we use a simple philosophy to guide our recommendations. Most clients are already aware of what it is that they’re looking for. They know their budgets perfectly as well. It doesn’t matter what your financial planner tells you – if you can’t afford the policy, there’s no use in compiling a report over it. It’s as simple as that.

If you’re unsure about how much insurance you need and want a professional opinion to guide you here, we’re happy to give you an estimation using our LIFE tool, which will account for all expenses, including loans, income, future plans, and education. You can find L.I.F.E. formula can be found here.

How Much Does Life Insurance cost For a 47 Year Old man?

Your life insurance premiums will be determined by what health insurance rating your application is assigned by the underwriters of the insurance company, the coverage period, and the coverage amount.

Using the quote tool, you can find more information regarding the best possible insurance rates for 6 different health categories, ranging from a standard smoker profile to a non-smoker preferred best rating. Below we have also provided sample rates for the most common situations facing 47 yaer old men.

Not, that the stanadar- preferred rage is usually the health class rage for the following situations:

  • life insurance for 47 year old man with controlled high blood pressure

  • life insurance for 47 year old man with controlled high cholesterol

  • Life insurance for 47 year old man 20 lbs overweight

Preferred Term Rates For 47 Year Old Man







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Standard Term Rates For 47 Year Old Man







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Smoker Term Rates For 47 Year Old Man







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How reliable are the quotes on this site For A 47 Year Old man?

Our website’s quote tool uses actual data gathered from carriers to generate an insurance quote based on your input. The quotes are 100% accurate, provided you’ve entered the right information.

However, most people tend to get their health rating wrong since they’re often poor judges of their own health condition. As a result, the actual quote they receive from the insurance company may vary from the quote generated here. Keep in mind that only around 10% of all applicants qualify for a preferred best insurance rating. A safe strategy that we use is pricing the policy on the assumption that you’ll be assigned a Standard or Standard+ rating. If you bag a rating better than that, that’s just the cherry on top.

What Are The Best Life Insurance Companies For A 47 Year Old man

We already stated at the beginning of the article that finding the right company for your needs isn’t a straight forward question. We’ll need to consider your health status, the financial stability of the insurance carrier, and the policies offered by them that are relevant to your requirements.

However, we often recommend insurance products from Prudential, Protective Life, and Banner Life to our clients.

Protective life caters to a niche customer base in the insurance industry. Not only do they offer competitive prices, but they also let you continue the policy after it has reached the end of its term period without hiking the prices. However, the benefit amount will be slashed. Their products are great for customers who cannot find insurance elsewhere but still need it.

Banner Life is the current price leader in the industry for most products. Their customer service and underwriting terms are also pretty great for most applications.

Prudential happens to be a great company that is known for its impeccable products. Apart from being a household name, they are also rather lenient when it comes to underwriting the applications of patients with certain health conditions. People with pre-existing conditions will almost always find the best insurance deals to be offered by Prudential. While its policies may seem more expensive compared to others, their favorable underwriting outlook is a strong reason why you should consider them.

How Does a 47 Year old man obtain the best rates with existing health conditions

Now this part might seem a bit self-serving. But it’s also the truth, we assure you that. An independent insurance agency may offer insurance policies from over 50+ A-rated insurance carriers.

Independent agents are well-acquainted with the underwriting guidelines used by these carriers as well. For instance, we’re aware that women suffering from a thyroid condition are better off applying for a policy from Prudential compared to AIG, Mutual of Omaha. However, the public is often unaware of such information.

It is also quite difficult to find these details anywhere since they’re closely guarded by the insurance industry and the agents as well.

But did you know that you don’t need to pay anything extra to engage our services?

Yep, not a single penny.

Insurance rates tend to be set by each state’s Department of Insurance. Policies cost the same, regardless of whether you purchase it directly or via an independent insurance agent. However, going for the latter ensures that you won’t mistakenly wind up taking the wrong policy just because you were not informed about other policies that offered the same features with cheaper premiums.

What is the life insurance application process for a forty seven year old Female

The application process  process tends to be the same everywhere, regardless of health conditions or age:

  • Select a policy type
  • Pick your policy terms
  • Obtain a pricing estimation
  • Submit your application
  • Complete a paramedical examination
  • Wait till the underwriting process is done
  • Review the insurance offer issued to you
  • Policy delivery

You can find more information regarding this 8-step process on this site’s homepage.

Note: People opting no exam option insurance policies need not undergo an examination. Additionally, you’ll also be issued the underwriting offer at a faster pace..

What is different about the Workers Bequest?

Are you thinking about why you should go for our services when there are so many other alternatives? That’s a fair question – allow us to present our case.

Firstly, while you may find many independent insurance agents out there, the fact of the matter is that you found our website only because your search engine determined that we were best suited to answer your queries. That’s not bad, eh?

Additionally, we’re also open to receiving more question – shoot them over either by phone or email. Why are we willing to answer all your questions? We’ve been in this industry for a long time now. We have inside access to numerous life insurance carriers and their products. If you need life insurance in a hassle-free manner, there’s no one better equipped to provide you with that experience than us.

We offer transparent, fast, and reliable life insurance services remotely, thus helping you purchase insurance right from the comfort of your living room.

What does that mean? We’ll complete your application either via computer or the phone, submit it to the right carriers, and book a paramedical examination for the application at a time and place of your choosing (unless you’d prefer a no-exam policy). We’ll constantly be updating you about any progress and ensure it is approved by the carrier’s underwriting department without any hassles.

Once your policy gets approved, we’ll set up your payments schedule (either on an annual or monthly basis) and deliver your insurance policy online. We’ll also conduct annual follow-ups to ensure that you’re satisfied with your policy.

Every professional insurance agent ought to do this – but many of them simply don’t. That’s not surprising though. With the captive insurance agent turnover rate being a staggering 92% for three years, it’s highly unlikely that the agent who sold you the policy will be there in another year. The ones who advertise aggressively on TV are the same – insane employee turnover. 

When you need us , we will still be here and no 1-800 Muzak from the 1980's.

Next Step

Well now you know what  it takes for a 47 year old man to obtain life insurance, why it's smart and what it will cost. The next step is to act so that you are not reading about life insurance for a forty eight year old man next year.

We are glad about the efforts you've made on checking out for a better upgrade for your Employer Sponsored Life Insurance Plan and finally decided on Workers Bequest. We are committed to a totally transparent process (we'll even share our computer screen with you if you'd like), and making the application process as painless as possible.

Simply give us a call or shoot an email over and we can get you started. If you have any questions, We'd also like to hear them.

The Time to get covered is now!...

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