Average Costs of Life Insurance Over 50
Being a male or female in your fifties is an ideal age bracket to get cheap rates on life insurance.
If your health is fairly good, you don't have or had any major illnesses, don't smoke or are overweight, then getting affordable rates on life insurance is easy.
"With people's life expectancy increasing every year, insurance companies are more than happy to cover people aged 50 plus"
Typical Life Insurance Amounts For Individuals Over Fifty (50):
A Few Facts About Life Insurance Over Fifty
Term life insurance for men and women over 50 rarely covers suicide in the first two years that the policy is owned. Some policies will not cover suicide ever. You cannot be denied a life insurance policy in most cases.
While the rates may be higher if you have had cancer, heart disease or other concerning health issues, most states require insurance companies to offer everyone some form of coverage, so if you are looking for a life insurance policy, you should be able to get some kind of coverage.
Life insurance prices for people over 50 are set for every five-year span. Cheapest premiums are offered to those who are between the ages of 50 and 55. The next rate levels cover those 55 to 60 and so on.
Over 50? Get a Custom Life Insurance Quote!
How Much Are The Premiums
You will find that typical premiums for a man or woman after fifty, range from $20 a month for a $15,000 policy, to $70 for a $50,000 policy. See more price examples here.
Just remember, the earlier you start shopping for life insurance, the cheaper your rates will be.
Term life insurance rates are generally cheaper than other permanent types like, universal and whole life.
The last thing you will want to do, is leave your spouse, significant other, or children with no money to pay for your funeral and outstanding debts. This is why some sort of life insurance coverage is a must-have.
Ages quoted: 50, 51, 52, 53, 54, 55, 56, 57, 58, 59
Compare Rates and Get a Low Cost Life Insurance Policy!
AARP Life Insurance
AARP is perhaps the largest of these companies. AARP offers memberships for $16.15 per year. The membership is for both the person who is 50 and his or her spouse or partner.
Membership with AARP offers many benefits including discounted policies for term life insurance for people over 50, automobile insurance, homeowner's insurance, and even travel discounts. AARP also offers masses of information on common problems and situations that middle-aged people experience.
CLICK HERE for a Life Insurance Quote!
Example Life Insurance Policies For Men and Women Over 50
Here are some examples of term life insurance policies for males and females 50 years old and over. These rate examples are just a guide and most likely are not the rates you'll get. As you can see, they are very affordable. To get your own rates, please go here.
Average monthly pricing for a 10 year level term policy for a non smoker woman in good health:
| AGE | $100,000 | $200,000 | $300,000 | $500,000 | $1,000,000 |
| 50 year old woman | $13.48 | $21.96 | $24.25 | $35.68 | $66.13 |
| 51 year old woman | $14.35 | $22.14 | $25.90 | $38.84 | $72.69 |
| 52 year old female | $15.10 | $24.51 | $28.15 | $42.83 | $79.19 |
| 53 year old woman | $16.12 | $26.54 | $30.26 | $46.38 | $87.55 |
| 54 year old female | $17.35 | $28.71 | $33.18 | $50.75 | $95.71 |
| 55 year old woman | $18.48 | $31.16 | $35.88 | $56.10 | $104.23 |
| 56 year old female | $19.34 | $32.35 | $38.43 | $58.96 | $110.30 |
| 57 year old woman | $20.28 | $34.60 | $40.86 | $63.92 | $120.45 |
| 58 year old woman | $21.26 | $36.79 | $43.75 | $68.85 | $130.14 |
| 59 year old female | $22.77 | $39.23 | $47.87 | $75.49 | $143.50 |
| 60 year old woman | $23.98 | $42.70 | $51.15 | $82.25 | $156.62 |
| 61 year old woman | $25.78 | $46.55 | $55.83 | $90.15 | $171.50 |
| 62 year old female | $27.48 | $50.64 | $60.55 | $98.45 | $187.25 |
| 63 year old woman | $29.59 | $54.88 | $66.45 | $107.63 | $206.55 |
| 64 year old woman | $32.15 | $59.75 | $73.41 | $119.45 | $229.61 |
| 65 year old woman | $37.26 | $66.87 | $81.23 | $148.70 | $287.15 |
Female life insurance prices as off 10/27/2024. Your rates may be different - these are just examples of average rates.
Here are some examples of the average monthly costs of a 20 year term policy for a male, non-smoker, in good health and with no major medical issues:
| Your Age | $100K | $200K | $300K | $500K | $1 Million |
| 50 year old male | $27.34 | $47.99 | $54.45 | $90.25 | $170.35 |
| 51 year old man | $28.88 | $50.96 | $59.74 | $ 97.91 | $185.95 |
| 52 year old male | $31.28 | $55.95 | $66.16 | $108.30 | $ 209.15 |
| 53 year old man | $32.75 | $59.80 | $67.38 | $117.88 | $227.15 |
| 54 year old male | $34.68 | $61.86 | $71.40 | $119.15 | $232.31 |
| 55 year old man | $37.48 | $67.45 | $78.15 | $130.38 | $255.39 |
| 56 year old man | $40.65 | $73.69 | $85.92 | $144.42 | $282.59 |
| 57 year old male | $46.14 | $81.55 | $94.20 | $157.16 | $309.75 |
| 58 year old man | $51.78 | $97.55 | $120.66 | $198.31 | $388.24 |
| 59 year old male | $59.68 | $109.53 | $137.41 | $223.75 | $435.25 |
Male life insurance rates as off 10/27/2024. Your rates will most likely be different - these are just examples of typical rates.