Life insurance rates for 50-year-old Males & Females
- November 21, 2022
For a 50 year old, life insurance rates will vary depending on the type of policy, the death benefit amount, and the length of the term.
Whole life insurance rates for a 50-year-old are typically higher than term life insurance rates. This is because whole life insurance policies have a guaranteed death benefit, while term life insurance policies do not.
You may want to see your life insurance quotes, but it’s important to know
Let’s dig in further.
Life Insurance Options for 50-year-olds
If you are considering buying a life insurance policy, it’s important that you understand your life insurance needs as well as what’s the best life insurance for you.
Whole Life Insurance (Permanent Life Insurance)
This type of life insurance offers seniors a death benefit, as well as cash value that can be used while you are alive. The policy pays out a death benefit to your beneficiary when you die. If you live to see the end of the policy term, the whole life policy will pay out the face value of the policy to you.
Simplified Issue Whole Life Coverage
What does simplified issue mean? It refers to how much detail your life insurance company wants about your health.
With traditional life insurance policies, the life insurance company will require a medical exam, look at your health history, and more. It’s an extensive process and it can take weeks or months to get your medical exam results and learn your application decision.
What Is Guaranteed Universal Life Insurance?
Guaranteed universal life insurance is a type of permanent life insurance that offers seniors coverage for their entire lives.
Unlike whole life insurance, which has a set death benefit and cash value, guaranteed universal life insurance policies have a death benefit that can increase over time. This means that the policy can keep up with inflation and provide more financial protection for your loved ones.
Guaranteed universal life insurance is a good option for seniors who want permanent life insurance coverage but do not need the cash value that comes with whole life insurance.
What Is Term Life Insurance Coverage?
Term life insurance is a type of life insurance that offers seniors coverage for a set period of time, usually 10, 20, or 30 years.
Unlike whole life insurance, which has a set death benefit and cash value, term life insurance policies do not have a cash value. This means that the policy will only pay out a death benefit to your beneficiary if you die during the term of the policy.
Level term life insurance quotes can be a good option for those who are younger (below 60 years of age) and who are in good health.
Term life insurance is a good option for seniors who need life insurance but do not want to pay for a policy with a cash value.
What is the best type of life insurance policy for 50-year-olds?
Seniors should get whole life insurance for a number of reasons.
First, it can provide a financial safety net for their family in the event of their death.
Second, it can help to cover the costs of final expenses, such as funeral and burial costs.
Third, whole life insurance policies do not expire, which means that seniors can continue to have coverage even if their health changes.
Lastly, whole life insurance can be used as a form of tax-advantaged savings account, providing seniors with a way to build up cash value that they can later use for retirement or other purposes. For all these reasons, seniors should consider getting whole life insurance.
How Much Life Insurance Coverage Do You Need?
Whether you are in good health or not, your life insurance needs will be the same.
How Do Life Insurance Companies Decide Your Price?
The insurance company will consider many factors when calculating your life insurance premiums. These include:
- Your age
- Your health
- Your lifestyle
- Whether you smoke or not
- The death benefit amount
- The length of the term
Your life insurance cost will be greater the higher your age, the worse your health, and whether you smoke or not.
When you are shopping for life insurance, it is important to compare life insurance quotes from multiple companies.
Each company uses different criteria to determine your premium, so you could end up paying more or less depending on which company you choose. For example, many life insurance companies will ding you for taking insulin, but there are companies, like Prosperity Life Insurance, are very lenient towards diabetic insulin use.
How Much Is Whole Life Insurance For A 50-Year-Old Male?
| Company | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| Aetna (Protection) | $18.53 | $33.74 | $48.94 | $64.14 | $79.34 |
| American Amicable | $18.02 | $32.52 | $47.03 | $61.53 | $76.03 |
| CVS/Aetna | $18.94 | $34.39 | $49.83 | $65.28 | $80.72 |
| Foresters | $17.57 | $32.00 | $46.42 | $60.85 | $75.27 |
| Liberty Bankers | $17.57 | $30.51 | $43.45 | $56.39 | $69.33 |
| Sons of Norway | Coverage N/A | Coverage N/A | Coverage N/A | Coverage N/A | $60.01 |
| Mutual of Omaha | $16.94 | $30.68 | $44.42 | $58.15 | $71.89 |
| Prosperity | $19.06 | $34.52 | $49.97 | $65.43 | $80.89 |
| Royal Neighbors | Coverage N/A | $37.89 | $55.53 | $73.17 | $90.81 |
| Transamerica | $17.08 | $30.55 | $44.01 | $57.48 | $70.95 |
| AIG | $28.99 | $55.99 | $82.98 | $109.97 | $136.96 |
| Gerber Life | $22.50 | $44.09 | $65.68 | $87.27 | $108.86 |
| Great Western | $31.24 | $59.56 | $87.88 | $116.20 | $144.53 |
| $21.36 | $42.73 | $64.09 | $85.46 | $106.82 |
Whole Life Insurance Rates For A Male Smoker (Age 50)
| Company | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| Aetna (Protection) | $24.99 | $46.65 | $68.31 | $89.96 | $111.62 |
| American Amicable | $22.49 | $41.47 | $60.44 | $79.41 | $98.38 |
| CVS/Aetna | $25.55 | $47.60 | $69.65 | $91.70 | $113.75 |
| Foresters | $24.30 | $45.45 | $66.60 | $87.75 | $108.89 |
| Liberty Bankers | $22.44 | $40.25 | $58.06 | $75.87 | $93.68 |
| Sons of Norway | Coverage N/A | Coverage N/A | Coverage N/A | Coverage N/A | $75.57 |
| Mutual of Omaha | $20.74 | $38.27 | $55.80 | $73.34 | $90.87 |
| Prosperity | $26.47 | $49.35 | $72.22 | $95.09 | $117.97 |
| Royal Neighbors | Coverage N/A | $49.46 | $72.88 | $96.31 | $119.73 |
| Transamerica | $22.93 | $42.25 | $61.57 | $80.89 | $100.21 |
| AIG | $28.99 | $55.99 | $82.98 | $109.97 | $136.96 |
| Gerber Life | $22.50 | $44.09 | $65.68 | $87.27 | $108.86 |
| Great Western | $31.24 | $59.56 | $87.88 | $116.20 | $144.53 |
| $21.36 | $42.73 | $64.09 | $85.46 | $106.82 |
How Much Is Whole Life Insurance For A 50-Year-Old Female?
| Company | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| Aetna (Protection) | $14.99 | $26.66 | $38.32 | $49.98 | $61.64 |
| American Amicable | $15.53 | $27.54 | $39.56 | $51.57 | $63.58 |
| CVS/Aetna | $15.40 | $27.30 | $39.20 | $51.10 | $63.00 |
| Foresters | $14.60 | $26.05 | $37.50 | $48.95 | $60.40 |
| Liberty Bankers | $15.10 | $25.57 | $36.04 | $46.51 | $56.98 |
| Sons of Norway | Coverage N/A | Coverage N/A | Coverage N/A | Coverage N/A | $55.38 |
| Mutual of Omaha | $13.75 | $24.31 | $34.86 | $45.41 | $55.96 |
| Prosperity | $16.38 | $29.15 | $41.93 | $54.70 | $67.48 |
| Royal Neighbors | Coverage N/A | $32.19 | $46.98 | $61.77 | $76.56 |
| Transamerica | $13.92 | $24.23 | $34.55 | $44.86 | $55.17 |
| AIG | $20.29 | $38.58 | $56.87 | $75.16 | $93.45 |
| Gerber Life | $17.69 | $34.47 | $51.24 | $68.02 | $84.79 |
| Great Western | $26.24 | $49.56 | $72.89 | $96.21 | $119.54 |
| $16.58 | $33.17 | $49.75 | $66.33 | $82.92 |
Whole Life Insurance Rates For A Female Smoker (Age 50)
| Company | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| Aetna (Protection) | $21.87 | $40.40 | $58.93 | $77.47 | $96.00 |
| American Amicable | $17.84 | $32.16 | $46.49 | $60.81 | $75.13 |
| CVS/Aetna | $22.44 | $41.39 | $60.33 | $79.28 | $98.22 |
| Foresters | $20.50 | $37.85 | $55.20 | $72.56 | $89.91 |
| Liberty Bankers | $18.15 | $31.67 | $45.20 | $58.72 | $72.24 |
| Sons of Norway | Coverage N/A | Coverage N/A | Coverage N/A | Coverage N/A | $70.68 |
| Mutual of Omaha | $17.37 | $31.54 | $45.71 | $59.88 | $74.05 |
| Prosperity | $20.96 | $38.31 | $55.67 | $73.03 | $90.38 |
| Royal Neighbors | Coverage N/A | $44.33 | $65.18 | $86.04 | $106.90 |
| Transamerica | $18.99 | $34.37 | $49.76 | $65.14 | $80.52 |
| AIG | $20.29 | $38.58 | $56.87 | $75.16 | $93.45 |
| Gerber Life | $17.69 | $34.47 | $51.24 | $68.02 | $84.79 |
| Great Western | $26.24 | $49.56 | $72.89 | $96.21 | $119.54 |
| $16.58 | $33.17 | $49.75 | $66.33 | $82.92 |
Life Insurance Rates For Ages 50 to 59
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- Life insurance rates for 51-year-olds
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Life Insurance Rates For Ages 60 to 60
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Life Insurance Rates For Ages 70 to 79
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