Life Insurance for Widows [2024]
Life insurance for widows is available in whole and term policies, among others. Term life insurance offers coverage for a specific period of time, whereas whole life insurance lasts for a person's entire life. The best policy for you depends on multiple factors.
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Dorothea Hudson
Insurance and Finance Writer
Dorothea Hudson has been professionally writing in many spheres since 2013. She has written on entertainment, insurance, finance, travel, technology, AI, renewable energy, crypto, fundraising, and real estate for many websites. Her work has been published for British retailer Marks and Spencer, Kroger Magazine, the Vision Group, and more. Her passions include writing, music, running, travel, te...
Insurance and Finance Writer
UPDATED: Jun 19, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jun 19, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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It is challenging to lose a spouse. As you enter widowhood, getting quotes for life insurance may be the last thing on your mind. But it’s essential to plan ahead to protect your family and ensure you leave them with financial protection.
Widows may consider both term or permanent life insurance policies. Life insurance rates will vary depending on which type of policy you choose. Keep reading to learn how much life insurance for widows costs and how you can find the most affordable rates.
What life insurance should widows buy?
Once your spouse dies, you may have a lot you need to do. For example, will someone make arrangements for the funeral? Are there legal matters or debts that someone else would have to settle? These are just a few considerations that may help you understand why widows must purchase a life insurance policy.
While many financial experts agree that you should not make any significant financial decisions while grieving, you should still consider the type of life insurance policy that might work best for you.
The type of life insurance you should purchase as a widow depends on many factors. Some of the most common factors to consider when buying life insurance include:
- Age
- Gender
- Children and dependents
- Debts
- Amount of coverage
If you are in your 30s or early 40s, purchasing a term life insurance policy may be a good idea. Term life policies are ideal for couples or individuals who have young children and are just starting to build equity.
If you are in your 50s or older, you may want to consider purchasing a whole life policy rather than term life insurance.
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Do widows need whole life insurance?
Whole life insurance may be the safest bet for a widow. This type of policy offers both a level premium and a guaranteed death benefit for the beneficiaries. In addition, while term life insurance rates can increase as you age, whole life insurance rates often stay the same throughout the policy.
Some whole life policies also carry a cash value, allowing policyholders to borrow from their policies after paying premiums for a significant amount of time. You can use this to pay medical bills and help with other debts.
With a whole life insurance policy, your beneficiaries will automatically receive a lump sum of money if you pass away. And while this guarantee disappears with a term life insurance policy, it stays constant with any permanent life insurance option, including whole life insurance. Compare widows’ quotes for whole life insurance from multiple companies before making a decision.
How much is life insurance for widows?
The cost of life insurance varies for several reasons. Insurance companies consider several factors when determining a potential policyholder’s life insurance rates. Some of the most common factors include:
- Age
- Gender
- Height and weight
- Medical history
- Family health history
- Tobacco use
- Occupation
- Hobbies
- Lifestyle factors
If you are in your 20s or 30s and are considered healthy, you can expect to find very affordable life insurance rates for both term and whole life policies. But if you are in your 60s or older or have poor health, your life insurance rates may be higher than average.
The table below shows the average rates for a 20-year term life insurance policy based on age, gender, and coverage.
Policyholder Age $100,000: Male Average Term Life Monthly Rates $100,000: Female Average Term Life Monthly Rates $250,000: Male Average Term Life Monthly Rates $250,000: Female Average Term Life Monthly Rates $500,000: Male Average Term Life Monthly Rates $500,000: Female Average Term Life Monthly Rates
25 $14.53 $12.70 $23.27 $18.72 $34.79 $27.39
30 $14.96 $13.22 $24.59 $20.44 $37.39 $29.59
35 $17.57 $15.40 $26.09 $22.19 $40.04 $32.19
40 $21.40 $18.62 $33.72 $28.49 $54.79 $45.69
45 $26.54 $22.97 $45.47 $37.42 $79.19 $66.14
50 $36.02 $29.32 $69.59 $54.59 $126.14 $96.99
55 $50.98 $38.11 $105.72 $78.97 $203.14 $143.99
60 $84.91 $60.20 $183.79 $131.17 $355.39 $248.84
65 $144.51 $97.44 $323.42 $220.99 $625.09 $432.84
As you can see, rates for term life insurance increase significantly as people age. The next table shows the average life insurance rates for a whole life policy based on age, gender, and the coverage amount.
Age & Gender $100,000 Policy $250,000 Policy $500,000 Policy $1,000,000 Policy
25-Year-Old Male $94 $85 $225 $203
25-Year-Old Female $108 $97 $260 $234
35-Year-Old Male $128 $113 $311 $273
35-Year-Old Female $154 $132 $376 $321
45-Year-Old Male $191 $156 $468 $381
45-Year-Old Female $235 $192 $578 $470
55-Year-Old Male $295 $243 $728 $599
55-Year-Old Female $399 $312 $989 $770
65-Year-Old Male $528 $422 $1,311 $1,045
65-Year-Old Female $712 $568 $1,525 $1,215
Like a term life policy, whole life insurance policy rates increase as policyholders age. But whole life policies are automatically more expensive than their term life counterparts.
Life insurance rates may be a major factor when considering the life insurance policy you want to purchase. Ultimately, you will need to choose a policy that fits within your budget.
How can I find life insurance quotes for widows?
There’s no specific life insurance company that caters to widows. Similar to finding health insurance for widows, finding the best widow and widower quotes will be a matter of comparing rates from many companies and choosing the best option based on your unique circumstances.
Some of the most popular companies that offer competitive life insurance rates include:
- Prudential
- AIG
- Lincoln Financial
- Equitable
- Mutual of Omaha
- Pacific Life
- Protective
Read more:
These companies are a great place to start. It will also help to compare quotes for widows from several other local companies to see which companies offer the coverage you want at a price that works for you.
If life insurance rates seem too expensive, shop around with multiple options from different companies hear you. For example, you could choose a different type of life insurance policy, consider going with a different company, or choose a lower level of coverage to save money on monthly premiums.
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Case Studies: Exploring Life Insurance Options for Widows
Case Study 1: Jane’s Term Life Insurance
Jane, a widow in her 30s with two young children, was looking for life insurance coverage to protect her family. After careful consideration, she decided to purchase a term life insurance policy. This type of policy offered her affordable coverage for a specific period of time, which aligned with her current needs as a young parent.
Case Study 2: Emily’s Whole Life Insurance
Emily, a widow in her 60s, wanted a life insurance policy that would provide a guaranteed death benefit for her beneficiaries. She opted for a whole life insurance policy that offered both a level premium and a guaranteed death benefit.
Additionally, the policy’s cash value feature allowed her to have financial flexibility and access to funds if needed.
Case Study 3: Sarah’s Affordable Life Insurance
Sarah, a widow in her 40s, was concerned about the affordability of life insurance rates. She compared quotes from multiple insurance companies and explored various options. By shopping around and considering different policy types and coverage amounts, Sarah was able to find a life insurance policy that fit within her budget.
Read more: Life Insurance for Parents
Life Insurance for Widows: The Bottom Line
It can be devastating to lose the spouse you know and love, and adjusting to life in their absence is difficult and painful. However, purchasing a life insurance policy is a good way to ensure your loved ones are protected after you pass.
Many widows choose to purchase a whole life insurance policy because of the guaranteed death benefit and monthly premiums. You can find and compare quotes for term and whole life insurance policies online to see which company offers the best coverage at the lowest price.
Frequently Asked Questions
What type of life insurance should widows buy?
Widows can consider both term and permanent life insurance policies. The best choice depends on individual circumstances and factors such as age, financial situation, and family needs.
Do widows need whole life insurance?
Whole life insurance can be a suitable option for widows. It offers a level premium, a guaranteed death benefit, and may accumulate cash value over time. However, the choice depends on personal preferences and financial goals.
How much does life insurance for widows cost?
The cost of life insurance varies based on factors such as age, health, coverage amount, and policy type. Generally, younger and healthier individuals can secure more affordable rates, while older individuals or those with health issues may pay higher premiums.
How can I find life insurance quotes for widows?
To find life insurance quotes for widows, it’s advisable to compare rates from multiple insurance companies. Online platforms and insurance brokers can help facilitate this process and provide access to various quotes and coverage options.
Why is life insurance important for widows?
Life insurance provides financial protection for widows and their families in the event of the insured person’s death. It can help cover funeral expenses, outstanding debts, mortgage payments, and provide income replacement to ensure financial stability for the surviving family members.
Your life insurance quotes are always free.
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Dorothea Hudson
Insurance and Finance Writer
Dorothea Hudson has been professionally writing in many spheres since 2013. She has written on entertainment, insurance, finance, travel, technology, AI, renewable energy, crypto, fundraising, and real estate for many websites. Her work has been published for British retailer Marks and Spencer, Kroger Magazine, the Vision Group, and more. Her passions include writing, music, running, travel, te...
Insurance and Finance Writer
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.