Life Insurance Costs For Men and Women Over 50
Often, women and men in their fifties think that it is difficult to get life insurance coverage, or it is no longer affordable, because they are over 50 years of age. This is not the case at all.
With the life expectancy going up every year, life insurance companies have no problems insuring a person over 50 at very affordable rates, being it a man or woman, smoker or non-smoker, in excellent health or not.
Because medicine is so advanced and life expectancy has improved over the years, it is very common to live into the eighties and beyond, especially if you are a woman.
Get A Quote On These Common Amounts of Life Insurance:
The surest way to find the best rates and most affordable premiums on life insurance over 50 is to compare rates among a good number of companies, and there isn't a better way to do that then using an online resource.
The days of an agent representing only one life insurance company visiting your home are gone.
Why should you only have one company to choose from? This is a sure way not to get the best coverage possible for your situation.
The reasons to get life insurance coverage are plenty: Your family will have money to pay off the mortgage, money for your children's college tuiton, money for funeral expenses, etc.
Check out these examples of life insurance rates for people over 50:
- A 10 year level term policy for a 55 year old man, non smoker, in good health, in the amount of $500,000 will cost around $80 per month - from a A+ rated company.
- A 20 year level term policy for a 50 year old woman, non smoker, with no health problems, in the amount of $200,000 will cost an average of $22 per month.
- A 30 year level term policy for a 50 year old woman, smoker, in fair health, in the amount of $400,000 will cost around $370 per month.
Not surprisingly , if you are a smoker the price of a policy will go up a great deal, on average, it will double.
Monthly average costs for a 20-year life insurance policy for a man in his fifties, in good health, non-smoking:
| AGE | $100,000 | $200,000 | $300,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 50 year old man | $27.34 | $46.46 | $54.52 | $89.85 | $170.25 |
| 51 year old man | $28.74 | $49.65 | $58.37 | $97.45 | $186.10 |
| 52 year old male | $31.28 | $54.25 | $64.65 | $106.55 | $204.92 |
| 53 year old man | $32.85 | $59.55 | $67.64 | $116.55 | $226.45 |
| 54 year old male | $35.54 | $61.60 | $71.70 | $118.88 | $231.85 |
| 55 year old man | $37.26 | $67.22 | $78.25 | $131.04 | $256.12 |
| 56 year old male | $41.64 | $72.39 | $86.53 | $142.82 | $283.24 |
| 57 year old man | $45.45 | $81.57 | $94.35 | $156.49 | $309.26 |
| 58 year old male | $51.95 | $97.93 | $120.55 | $196.85 | $387.50 |
| 59 year old male | $57.68 | $108.55 | $137.52 | $223.22 | $434.25 |
Monthly average costs for a 20-year life insurance policy for a woman in her fifties, in good health, non-smoking:
| AGE | $100,000 | $200,000 | $300,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 50 year old woman | $13.48 | $22.16 | $24.15 | $35.68 | $66.32 |
| 51 year old female | $14.35 | $23.10 | $25.95 | $38.53 | $72.79 |
| 52 year old woman | $15.26 | $24.54 | $28.35 | $42.83 | $79.46 |
| 53 year old female | $16.22 | $26.34 | $30.53 | $46.34 | $87.95 |
| 54 year old woman | $17.33 | $28.74 | $33.47 | $50.27 | $95.82 |
| 55 year old female | $18.35 | $31.25 | $35.59 | $56.23 | $104.15 |
| 56 year old woman | $19.37 | $32.36 | $38.24 | $58.62 | $110.31 |
| 57 year old female | $20.29 | $34.67 | $40.84 | $63.48 | $120.76 |
| 58 year old woman | $21.27 | $36.48 | $43.76 | $68.19 | $130.37 |
| 59 year old female | $22.62 | $39.32 | $47.85 | $75.34 | $143.15 |