The Truth About Affordable Life Insurance Over 50 [2022 Guide]


There are several misconceptions regarding life insurance, including how much you should purchase. This article will clarify what life insurance is, who needs it, and where to obtain inexpensive rates for people over 50. Some of the truths that are disclosed in this essay will surprise you!

In your 50s Life Insurance

The details of over 50 insurance plans and over 50 insurance for life coverage will be covered in this article. It is crucial to understand that the items discussed in this post will differ depending on the state. Also, coverage quantities may change according on the product and customer age.

Please feel free to leave a remark at the end of the post.

I’m over 50; can I still purchase affordable life insurance?

Can I Get Affordable Life Insurance For Over Age 50

You’ll learn if you keep reading!

Exists affordable life insurance for people over 50?

Agreed, but you don’t have to keep kicking the can down the road!

Well, we are no longer 25 years old. But you can still accomplish this!

How can I find affordable life insurance over 50 if I am older and have delayed getting coverage? Stop putting things off.

As we age, our health typically deteriorates, which ultimately has an impact on rates. Once you turn 50, the majority of Americans are statistically more likely to develop diabetes, heart disease, and other health problems.

As a result, firms charge greater rates for life insurance for persons over 50 as they get closer to the mortality age. To secure your health rating and provide you with piece of mind, it is always a good idea to enrol in coverage as soon as feasible.

For instance, it could be challenging to acquire inexpensive coverage for those with any serious medical conditions. The cost of coverage will decrease as health impairment increases.

Do not put off getting life insurance if you are over 50 because the cost will be based on your age and health. Also, the 30-year term will push you past the mortality age when you are in your 50s, making term lengths more difficult.

Life Insurance For 50 And Over

If there has been a decline, they can determine that they just cannot obtain the required coverage. The alternative of no medical exam life insurance, such as a Guaranteed Acceptance Policy, is always available.

At this age, treated high blood pressure, treated high cholesterol, or treated diabetes are the most prevalent health issues. The basic message is that you shouldn’t start looking for family protection once you reach Social Security retirement age of 65.

The most critical thing you can do for your loved ones is to purchase life insurance. ASK WHY RIGHT NOW!

Life Insurance For 50 Years And Over, Is It Too Late

It’s still possible!

We cannot emphasise enough how crucial it is to protect your family. It’s the finest approach to guarantee that your loved ones will be comfortable after your passing.

Fortunately, there are various options accessible for persons over 50 who are looking for coverage. The younger you are, the better; you don’t want to be searching for life insurance at age 75.

In your late 50s, the 20-year term policy should be adequate. There are also more than 50 life insurance policies available without medical tests.

For those with major health issues or high risk, rates will be raised before application. For instance, those seeking coverage for conditions like diabetes or multiple sclerosis.

Smoking, employment, and driving history, including DUI, are other risk factors that can significantly affect your premiums.

As a result, there is always the assured acceptance insurance policy if you have denied coverage.

Even so, it is still highly likely that you can find reasonable insurance. Over all, term life insurance will cost at least twice as much after age 50 as it did before. Hence it is best to compare life insurance quotes over 50 as soon as possible.

For instance, a highly rated company will require good health in order to offer reasonable life insurance to people over 50. As opposed to insurance without a medical exam, it is more affordable to purchase coverage that does.

This enables the carrier to access risk, improving your chances of receiving a lower premium.

Also, a paramedical exam will be part of the underwriting procedure when applying for a fully underwritten policy.

This is when a trained examiner visits your home to collect blood and urine samples, measure your height, weight, and blood pressure.

When using a skilled examiner, this typically takes 30 minutes. Within three days following the examination, the outcomes of the blood test and urine samples are often known.

Why Buy Life Insurance Over 50

Being over 50, Does Life Insurance Still Make Sense?

Indeed, life insurance is still necessary at any age. There are a number of reasons to maintain coverage even if you are no longer financially dependent on someone. Thus, life insurance for people over 50 is still crucial. See some of these justifications below:

  • Estate taxes – If you don’t have adequate insurance, your family could be left with all of your debt and taxes.
  • Last Costs – Final expenses include things like casket, funeral bills, and burial plots.
  • Life insurance as a Savings Tool – With the right protection, you can invest on a tax-deferred basis and accumulate cash value.
  • Retirement/Pension Replacement – Keep in mind that after you pass away, your loved ones won’t have access to any income you may have been receiving, which may leave them vulnerable financially.
  • Replacement of income – If you’re married, your spouse will likely rely on you. It will be easier for your spouse to adjust to life without you if you get life insurance for persons over 50.

Above all, life insurance is crucial in your fifties for protecting your loved ones.

Best Value Life Insurance For In Your 50’s

What Factors Influence the Coverage of Life Insurance?

Without a history of pre-existing conditions, it is possible to find the best life insurance for people over 50.

Also, applying for a fully underwritten application process would be a fantastic choice. Getting the best rate over 50 will be a lock as long as the results are within range!

You have around 15 years after turning 50 before you start receiving social security. The cost of life insurance as a whole will triple between 50 and 60. Finding the finest over 50 life insurance coverage is very crucial.

Given that men and women have similar life expectancies of 77 and 81 years, respectively, the earlier you buy life insurance, the greater your chance of locking in low premiums.

Because of this mortality age disparity, female mortality rates will always be lower. More than 50 life insurance comparisons can be seen here.

An illustration of a $500,000 30-year term for a healthy male and female is provided here.

Why Is Age Important In Life Insurance​​

How are the costs of life insurance determined?

These are excellent inquiries to make!

Your premium is in fact impacted by your age. If you don’t get life insurance for yourself, you can expect to spend more every year.

In addition to your age, health problems may also develop.

Your rates may be impacted, particularly if there is a medical history in the family. Our general health is a significant factor.

This is why getting life insurance as soon as possible, preferably RIGHT NOW, is so important.

Speak to an experienced underwriter at PinnacleQuote to obtain the best life insurance prices!

You don’t want to pay more than necessary for life insurance. especially if you plan to have a fixed income.

Hence, if you are over 50 and in good health, NOW is the time to buy insurance so you won’t have to worry about your rates going up because you turned another year older or a health problem developed.

Myth: Customers believe that waiting until their birthday to purchase life insurance or to review their current policy is a good idea.

NO!!! If your birthday is in June, you should purchase an insurance at least one month, ideally two, in before. Furthermore, “Age Closest,” which adds a year to your age six months before your birthday, is used by the majority of carriers.

You should allot time for the medical examination, the underwriting review, and any unforeseen problems or inquiries that might occasionally occur. The best life insurance rates for people over 50 can be obtained with proper planning.

Term Life Insurance Over 50 VS. Whole Life Insurance In Your 50’s

Should I purchase term or full life insurance?

You must first choose between a permanent life insurance policy and a long-term option like a 20-year term life insurance policy. The distinction is briefly explained below:

  • Term Life Insurance —What age is ideal for purchasing term life insurance? You are protected from death benefits for a predetermined period of time with a low-cost term policy. Typically, you have a range of 5, 10, 15, 20, or 30 years to determine your coverage terms. The most fundamental but also least expensive type of insurance is a term life policy. If, for instance, you have a 30-year mortgage on your home, you might desire a 30-year term life insurance policy. In this manner, in the event of your passing, your family won’t be left to pay the mortgage themselves. The least expensive type of insurance is offered through term policies. When you are in your 30s is the ideal time to secure coverage.
  • Permanent Life Insurance —Lifelong protection is provided by permanent life insurance, as opposed to term life insurance. Other differences exist as well. One benefit is that a perpetual insurance policy provides funds to fund investment options, and the growing sum of money is tax-free. A further distinction is the premium, which is fixed for permanent life insurance. While initially more expensive than term life insurance, this can ultimately save you money, especially if your health starts to deteriorate. As long as you keep up with your premium payments, whole life is permanent. Nonetheless, they are level and significantly more expensive than term insurance. While weighing your budget and coverage objectives, it is always best to compare and contrast the costs of term and whole life insurance.

In conclusion, whole life insurance over 50 is typically the best option, especially when considering final expense insurance.

Although though life insurance is most affordable in your 20s, by this time in your life your kids are adults. Most likely, you’ll want to make arrangements for your burial insurance so that your loved ones, your children, and their children won’t have to worry about the cost.

Ask one of our independent agents about final expenditure insurance right away!

Life Insurance For Parents Over 50

What kind of insurance should I purchase for my parents?

So here you are, searching for the finest insurance plan for your parents as adult children. You can feel overwhelmed and not know where to start.

A simplified issue whole life insurance is the ideal choice for your parents at this point in their lives.

I have a specialty in last expense insurance for seniors because I am a field underwriter with a state licence.

Similar to the Financial Conduct Authority in the UK, the financial department of the state in which you reside regulates these plans. for my British clients.

Seniors make up the majority of my clients. Making sure customers have the greatest policy at the best price is my responsibility. This holds true regardless of your age, from birth to 90, and whether you are in your 30s or 40s. Everyone can follow our policy.

Many of the carriers I recommend to my customers specialise in same-day immediate approval over the phone with the customer, the carrier, and myself.

Depending on the company and the state where you live, you can purchase insurance for anywhere from $1500 to $40,000.

You can reach me personally at or by phone at (855) 380-3300, ext. 2. I’m looking forward to working with you and your parents to protect your loved ones.

See if you or your parents are eligible right now!

Best Life Insurance Rates and how to get them in your 50’s

How much does 50-year-old life insurance cost?

Before choosing an insurance provider, you should constantly compare several options. Get 50-year-old prices from the top insurance providers, including Banner Life.

After that, you’ll be able to compare prices and choose the finest possible insurance plan. Above all, you should ensure that the life insurance providers you research have an A/A+ rating with A.M. Best.

Working with a PinnacleQuote professional is something we highly suggest. We can put you in touch with the top life insurance providers. Get you the cheapest policies, in fact.

This is because we are aware of which businesses are the most understanding regarding your age, financial situation, and/or state of health. In some circumstances, even if you are over 65, getting coverage may only need you to answer a few health-related questions.

We can connect you with reasonable coverage, even if you are over 50. Keep in mind that you don’t want to leave your family with debts or final obligations like burial costs.

Stop waiting. Your charges will increase each year that passes. To summarise, these insurance provide a lump sum death payout that is tax-free.

Below are the rates for males and females between the ages of 50 and 59.

As you can see, purchasing insurance early on will allow you to save money. The GUL to age 90 will also be your best option if you are 59 years old and seeking a 30-year term.

Life Insurance For over 50 Years Of Age, What are Women Paying Compared To Age 40

What factors into the cost of my term life insurance premiums?

As we’ve previously stated, the longer you wait to buy life insurance, the more expensive your premiums will be.

Your health varies as you age.

And as a result, it’s crucial to life insurance.

Your age does matter, and here’s why.

What is the cost of life insurance for a 50-year-old then?

For comparison, the rate tables for women aged 40, 50, and 58 are shown below: How much is life insurance between the ages of 40 and late 50s?

Rate table for a woman in her 40s:

What type of life insurance is ideal for persons over 50?

You can see that a lady in her fifties will have twice as much life insurance between the ages of 40 and 50.

Life Insurance For Over 55 Years Old

Below, you can see how even at age 55, prices are substantially greater than they are at that age.

Rate table for life insurance for females aged 58:

Try Not to Give Up!

The three charts above show that your monthly premium rises as you get older. In the event that you are still without insurance at the age of 50. Don’t let that get you down!

Affordable insurance is available.

especially if you employ a freelance agency.

They are connected to reputable carriers and underwriters.

In fact, finding low-cost life insurance policies is our area of expertise at PinnacleQuote.

In order to match your budget, we will create for you the finest coverage with the best life insurance prices.

Age, lifestyle, and medical history do have an impact, but that is why you speak with your agent.

He’ll assist you in making the right decisions.

To be clear, PinnacleQuote works for YOU.

Not the insurance firms, though.

You do not pay us anything at all.

The insurance company pays us whenever you are satisfied and receive what you paid for! Thus, we do your work for FREE! You only receive payment once you are completely satisfied.

When you call, we shop you around to several carriers at once, go over every detail, and address all of your inquiries.

If you choose a carrier, the insurance company will pay us once your policy is accepted by you and in effect (you have 30 days after receiving your policy to accept or decline it).

Life Insurance For 50-Year-Old Male

What type of life insurance is most suitable for a male 50-year-old?

We must include the Guys in this, of course. The fact that female rates are generally a little less expensive is the strongest supporting evidence here, at least in my opinion.

Men over the age of 50 will always pay more for life insurance than women do. As we have previously established, women typically outlast males in terms of statistics.

Rate Table for a Male 40 Years Old:

Male 50-year-old life insurance rates:

You can see once more how crucial it is to purchase life insurance as soon as possible to avoid paying a hefty premium.

Best Life Insurance Policy For 55 Year Old And Over Male

I am aware that I seem to be circling the waggons. But it’s crucial to understand how much money you would save by purchasing life insurance as soon as you turn 55 and earlier!!

Rate table for a male 58 years old:

To emphasise, all of the prices shown above are valid until age 58, for instance.

I did this since you can still get a 30-year coverage at age 58. On the other side, that choice is no longer an option beyond age 59.

Even 51-year-old males will have trouble obtaining 30-year terms for life insurance.

You might now research guaranteed universal life insurance. Up until the age of 90, this will cover you.

Types Of Life Insurance Companies for over 50 – PINNACLEQUOTE’S TOP A+ RATED PICKS!

The greatest life insurance plan for people over 50 is detailed below.

  • Protective Life **
  • AIG
  • Banner Life
  • Prudential
  • American National

New York life does not appeal to me much because their prices are not competitive.

Life Insurance Over 50 No Medical Exam VS. Medical Exam

No Medical Exam    : If you opt for a no medical exam, a nurse does not need to visit you at home. Nonetheless, the health/lifestyle medical questionnaire will still be required by underwriters.

Remember that some customers believe they won’t have to disclose all of their medical history, background, or limitations if they choose this course of action.

This is definitely not the case. When speaking with your agent and completing your insurance application, be fully truthful.

Medical Exam   – This is a paramedical exam where a nurse does a physical examination in your home or even at your place of employment.

They will take your blood pressure, fill out some papers related to the application you completed with your agent, and draw some blood. You won’t be charged for this.

This examination is covered by the insurance company.

You can schedule it for whenever is most convenient for you.

It doesn’t require more than 20 to 30 minutes of your time in total.

Life Insurance In Your 50’s

Best Joint Life Insurance Policy

Two types of joint life policies:

  • First to die life insurance
  • Second to die life insurance

Let’s define a combined whole life policy first.

Furthermore, what does joint life insurance actually mean? It is a two-life insurance policy.

They are frequently referred to as “survival” policies. For descriptions of each, see below. These policies are complicated since so few carriers will provide this choice.

Find out if a joint-life policy will benefit you by asking your agent.

When the first person passes away, first to die life insurance will pay out a reward.

The policy will then come to an end. Yet, the surviving spouse could cover their home mortgage, credit card debt, and funeral expenses.

insurance for the second death.

After the second insured passes away, the benefits are paid out.

Life Insurance for 50 year olds, Do I Worry About It Expiring

As a result, assets owned by both individuals and businesses are shielded from inheritance taxes.

The beneficiary receives the death benefit in the event that both insureds pass away. With these policies, insurable interest is crucial.

Do I Need to Worry About My Life Insurance That Doesn’t Expire? I’m 50 years old.

Theoretically, your term life insurance does not stop after the coverage period is through. What occurs is as follows. During that term, the rate you locked in expires.

10, 15, 20, 25, or even 30 years is an example of a term period.

The most economical approach to maintain coverage is to renew it.

The way of life evolves over time.

Your insurance requirements today may change from those you had at age 20, 30, or even 40. Keep in mind that life insurance might pay for other debts like medical expenses.

Speak with your independent agent to go over all of your options in order to receive the best life insurance quotes for people over 50.

PinnacleQuote Life Insurance Specialists – DANNY RAY

Danny Ray, Owner/Independent Agent, is my name.

My objective is to provide your family with a life insurance policy that is specifically designed to meet their needs.

Which will give you piece of mind knowing that, should the time ever come, even though your family will mourn you, they will understand how much you care for them since you made sure they will be taken care of financially when you pass away.

It is the main purpose of life insurance. The very last way to express your love!

We prefer to keep things as straightforward as possible because, after all, it’s life insurance.

So, give PinnacleQuote Life Insurance Experts a call if you’re seeking for over 50 life insurance with instant coverage. Our headquarters are in Jacksonville, Florida. M-F 9 p.m. to 9 a.m. (est.)

Also, I am on call every Saturday and Sunday to assist you with all of your life insurance needs, and we are available to our West Coast clients until midnight.


If you are over 50, you might be surprised by how inexpensive life insurance can be. Don’t delay; there are numerous plans and solutions available for people of all ages. Your family could end up saving a tonne of money if you shop around today. Today is the day to get started on getting coverage for yourself or your loved ones from our trusted partners because tomorrow might not come as quickly as we expect.”

Life insurance specialists at PinnacleQuote

Call PinnacleQuote by calling (855) 380-3300.