≡ Menu

≡ Menu


Download The Life Insurance Essentials Guide for FREE

  • This field is for validation purposes and should be left unchanged.

Life Insurance Quotes Over 50 [Top Policies from the Best Companies]

life insurance quotes over 50

Getting life insurance over 50 years old can be more difficult than when you were younger, but the good news is there are still plenty of options available.

The good news is you can still qualify for 30 year term life insurance up to age 58. So if you are looking to lock into life insurance for a long time, that will still be possible.

Further, you can always consider another type of life insurance, such as whole life or universal life, to make sure you have coverage the rest of your life.

How Much Does Term Life Insurance Cost for a 50 Year Old?

The following term life insurance rates for a 50 year old.

All quotes are from top rated insurance companies for both a male and female in excellent health.

Please give IBUSA a call for a personalized rate quote.

MaleFemale
Life Insurance In Your 50s
The following 50-59 year old sample quotes are based on a male qualifying at the top rate class.
10 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$24.17$42.22$59.38$72.38
51$26.34$46.53$67.26$81.26
52$28.67$51.19$74.45$90.87
53$31.36$56.55$82.49$101.92
54$34.39$63.33$91.55$113.77
55$37.34$68.49$100.40$126.56
56$40.64$74.85$109.93$139.05
57$44.46$82.22$120.99$153.54
58$49.06$91.09$134.29$170.30
59$54.03$100.66$148.65$189.81
15 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$31.26$55.58$81.03$103.33
51$33.67$60.15$87.88$112.71
52$36.33$65.17$95.42$123.02
53$39.41$71.02$104.19$135.02
54$43.07$77.94$114.57$149.21
55$47.00$85.36$125.70$164.45
56$51.59$93.97$138.61$181.58
57$56.87$103.87$153.46$201.31
58$63.22$115.74$171.27$224.81
59$69.96$128.81$190.88$250.74
20 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$39.33$71.54$104.73$135.88
51$42.47$77.67$113.92$148.75
52$46.14$84.83$124.67$162.76
53$50.52$93.38$137.49$179.49
54$55.72$103.54$152.99$199.44
55$61.49$114.82$169.65$221.63
56$68.10$127.22$188.25$245.95
57$75.71$141.53$209.72$274.07
58$84.82$158.68$235.68$307.81
59$95.01$177.85$264.44$345.63
25 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$57.68$104.93$154.82$198.58
51$64.77$117.00$172.93$221.60
52$71.56$131.00$193.19$248.33
53$79.61$147.60$218.82$280.06
54$89.34$167.70$248.97$318.53
55$100.20$190.15$282.65$361.61
56$115.47$220.00$327.42$415.71
57$131.36$250.57$373.28$470.77
58$149.54$283.33$426.84$538.80
59$170.33$326.67$487.44$610.05
30 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$68.68$127.73$189.26$244.79
51$76.19$142.45$211.33$274.46
52$84.90$159.52$236.95$308.98
53$95.18$179.70$266.96$349.89
54$107.66$204.21$303.74$399.74
55$121.93$232.31$345.89$457.14
56$150.50$272.62$407.64$537.50
57$168.99$305.73$457.31$603.72
58$190.92$345.72$517.29$683.70
59N/AN/AN/AN/A
All sample quotes are based on a monthly premium as of 03/01/2020 from an A- Rated Carrier and higher. Sample quotes are for a preferred plus male. Rates are for informational purposes only and must be qualified for.
Life Insurance In Your 50s
The following 50-59 year old sample quotes are based on a female qualifying at the top rate class.
10 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$20.78$34.27$49.07$59.02
51$22.26$37.32$53.36$65.65
52$23.85$40.22$57.19$72.00
53$25.46$43.34$62.67$78.80
54$27.09$46.49$67.40$85.66
55$28.75$49.71$72.23$92.69
56$30.86$53.67$78.17$100.05
57$33.12$57.91$84.53$107.93
58$35.70$62.73$91.03$115.90
59$38.46$67.92$99.32$126.54
15 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$23.95$40.80$58.85$75.18
51$25.73$44.18$63.81$81.66
52$27.48$47.47$68.66$88.06
53$29.35$51.04$74.01$94.86
54$31.37$54.91$79.88$102.21
55$33.52$59.01$86.18$110.06
56$36.42$64.15$93.88$120.28
57$39.63$69.85$102.43$131.65
58$43.57$76.82$112.89$145.58
59$48.18$85.01$125.18$162.00
20 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$30.44$54.39$79.25$98.04
51$32.84$59.12$86.34$108.78
52$35.34$64.05$93.74$118.75
53$38.23$69.75$102.29$130.29
54$41.54$76.29$112.10$143.57
55$45.33$83.77$123.32$158.79
56$49.71$91.41$134.77$173.51
57$54.63$99.99$147.64$190.09
58$60.70$110.59$163.55$210.60
59$67.78$122.97$182.12$234.61
25 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$43.75$79.66$116.94$147.60
51$48.52$89.01$130.94$165.38
52$53.87$98.40$145.02$184.64
53$59.89$109.41$161.53$205.55
54$66.64$122.06$180.51$229.64
55$74.23$136.64$202.39$257.46
56$83.19$156.81$232.63$295.20
57$93.32$176.31$261.89$333.22
58$104.75$200.13$297.64$378.83
59$117.67$225.57$335.81$428.76
30 Year Term
FACE VALUE$250,000$500,000$750,000$1,000,000
50$52.10$94.24$139.03$179.34
51$57.99$105.12$155.34$201.56
52$64.58$117.29$173.60$226.53
53$72.28$131.55$194.99$255.89
54$81.29$148.26$220.05$290.43
55$91.56$167.33$248.66$329.99
56$110.30$205.97$307.67$389.58
57$124.70$233.06$348.30$441.18
58$138.89$260.15$388.94$492.78
59N/AN/AN/AN/A
All sample quotes are based on a monthly premium as of 03/01/2020 from an A- Rated Carrier and higher. Sample quotes are for a preferred plus female. Rates are for informational purposes only and must be qualified for.

About Term Life Insurance

Term life is great because it gives you the coverage you need for a specified time. You don’t have to pay the higher premiums for permanent coverage. Instead, you choose a term length and your life insurance rates are determined by how long you plan on having the term policy.

Obviously the drawback is the term policy ends. When a term life policy ends, the policy can typically be renewed, but at an increased premium. Over time, the insurance premium increases too much and most people are forced to drop the coverage.

However, for many, life insurance over 50 only requires a small whole life policy, where the death benefit can be used to pay for final expenses and burial.

Final Expense Insurance

Not everyone age 50 and older can qualify for ordinary life insurance. For those with health issues, final expense life insurance is a great option.

Final expense insurance, also known as burial insurance for seniors, is whole life insurance coverage that provides fixed premiums, fixed death benefit and guaranteed cash value growth.

Sample $25,000 final expense whole life insurance quotes from top rated companies.

All whole life rates shown below are fixed and will stay the same for your lifetime.

AgeLevelGradedGuaranteed Issue
5064.8082.09108.85
5167.8384.41117.10
5271.0689.02124.67
5374.4893.65131.77
5478.0598.28137.96
5581.55102.91143.46
5685.36107.55147.58
5789.33112.16151.25
5893.07119.11154.46
5996.97126.06156.75

Sample $10,000 final expense whole life insurance quotes from top rated companies. 

All whole life rates shown below are fixed and will stay the same for your lifetime.

AgeLevel BenefitGraded BenefitGuaranteed Issue
50$27.92$36.90$44.09
51$29.12$38.83$47.39
52$33.52$40.75$50.42
53$34.25$42.94$53.26
54$34.97$45.12$55.36
55$35.70$47.30$56.90
56$35.95$49.21$58.55
57$37.54$51.22$60.01
58$39.04$52.31$61.31
59$41.84$54.22$62.21

About Final Expense Insurance

Final expense insurance is usually cash value whole life. The policy’s premium payment is fixed for your lifetime. Further, the death benefit is locked in and never changes.

And since it is whole life, the policy builds cash value that can be used to borrow against, pay premiums for a time, or use to buy paid-up life insurance.

Do People Over 50 Need Life Insurance?

There are many reason life insurance when you are older still makes sense.

Income Replacement:

Life insurance in your 50s might simply be needed because you are planning on working until age 65 or 70, so you want coverage in place that will protect your income if you were to die prematurely. In that case, a 10 or 15 year term life insurance policy makes a lot of sense.

Estate Planning:

Life insurance is a tax favored vehicle. The death benefit is paid to your beneficiary income tax free. So life insurance over 50 makes a lot of sense if you are looking to provide liquidity for your estate or want to make sure you leave your kids with a legacy.

Business Succession:

Life insurance is great at providing liquidity for a business so that the family inheriting the business has time to pay down any existing debts, and wait for a proper buyer to come along.

Alternatively, the family might be interested in continuing the business, so life insurance provides liquidity while the new owners take time to transition into their new role.

Burial and Final Expenses:

Sometimes all you need is to make sure your burial and final expenses are paid so you don’t leave debt and the financial burden of a funeral to your loved ones.

A final expense insurance policy provides peace of mind knowing that your debt and funeral are paid for.

Other Types of Life Insurance

Most people over 50 choose term life insurance because it is the cheapest life insurance for 50 year olds. However, just because something is more affordable does not mean it is necessarily better.

There are various types of life insurance that people over 50 can qualify for.

Life insurance over 50 options include:

  • Term Life Insurance
  • Universal Life Insurance
  • Whole Life Insurance

Term Life Insurance

As mentioned above, term life lasts for a specified time, the “term” of the policy. After the term expires, the policy can usually be renewed, but the premium typically increases. Over time the premium is too expensive and most people have to let the policy lapse.

For people 50 and older needing term life insurance, you can get up to 30 year term life at age 58. Other term lengths available are 10, 15, 20 and 25 year terms.

Universal Life Insurance

Universal life insurance is flexible life insurance coverage that is designed to last your entire life. We say “designed to” because sometimes universal life won’t last your lifetime unless you increase the equired premium payments.

Universal life comes in three primary flavors: Guaranteed Universal Life, Indexed Universal Life, and Variable Universal Life.

Guaranteed universal life is great because it offers fixed premiums. It is guaranteed so that as long as you pay the minimum premium required by the life insurance company, your policy will remain in force.

Indexed universal life works by providing a return on your cash value based on an index, such as the S&P 500 index. Your policy provides a guaranteed floor, typically around 1% or 0%, with a maximum cap rate of 10% or more.

Variable universal life is tied to the stock market. You have the option of having your cash value in a fixed account or in an account that works similar to a mutual fund. Your policy grows (or shrinks) based on the stock market’s performance.

Whole Life Insurance

Whole life insurance in your 50s might be a great option if you want to lock into lower premiums for a policy that lasts your entire life.

The best whole life insurance for 50 year olds would be participating life insurance, where the policy offers annual dividend payments.

Whole life insurance offers a guaranteed fixed premium, guaranteed death benefit, and guaranteed cash value growth.

Have some questions about life insurance over 50?

At IBUSA, we will take the time to answer all your questions and provide you with multiple options based on your specific criteria.

Whether you are considering term life, universal life, whole life or final expense insurance, we represent dozens of the top life insurance companies.

Give us a call today to see how we can help you find the best life insurance based on your unique criteria.

0 comments… add one

Leave a Comment

four × five =