Life Insurance by Age – 56 Years Old

by Chris Huntley

When searching for life insurance at 56 years old, the biggest factors affecting your premium will be the type of coverage needed and your health.  Typically by the time you reach your mid fifties, you’re almost always dealing with some sort of medical condition or medication.  We see everything from people taking only a blood pressure medication to insulin-dependent diabetics, to Olympic athletes in stellar health.  The point is whether you’re in excellent health or have some pre-existing conditions, we have many life insurance options for 56 year olds from highly rated companies.

Life Insurance at 56 Years Old – Policy Types

Ninety percent of my clients who purchase life insurance at age 56 only need coverage for 10, 15, or 20 years.  That’s because their purpose of the coverage is to replace lost income from their job.  Since at this age, most people will only work another 10 to 20 years, it’s understandable that upon retiring, they will no longer have a need for life insurance.  If this is your situation, term life insurance is the answer for you.  Term is allows you to purchase a large amount of coverage for a reasonable premium, and is used to meet temporary insurance needs.  However, you may need coverage permanently.  If your desire is to have lifelong coverage, then whole life insurance could be your solution.

How Much Does Life Insurance at 56 Years Old Cost?

Below please find a couple sample quotes for a healthy male and female non smokers needing life insurance at the age of 56.  These rates assume a “preferred plus non-tobacco” rating class.

20 Year Term Life Insurance:

Death Benefit              $500,000         $1,000,000

56 Year Old Male       $1655/year      $3135 per year

56 Year Old Female   $1205/year      $2215 per year

Guaranteed Level Premiums for Whole Life:

Death Benefit                         $100,000         $250,000

Male – Age 56                        $1169/year      $2833 per year

Female – Age 56                   $966/year        $2388 per year

Please note quotes are accurate as of 3/25/2011, but are subject to change.  Your actual premium may be higher if you cannot qualify for the best class.  In order to determine whether you can qualify for this rating, we’ll need to know your date of birth, tobacco use or non-smoker, and height and weight.  Some other factors that can affect a life insurance rating are driving history, family history of disease in parents or siblings, and hazardous hobbies, occupation, or travels.  It’s important to disclose whether any of these apply to you for an accurate quote.

How Is a 56 Year Old’s Rating Class Determined?

In the example above, if the 56 year old man or woman takes some medications for well controlled blood pressure, cholesterol, or mild anxiety, the quote may be accurate.  Some common high risk medical issues that can drop the applicant out of preferred plus status could be diabetes type 2, being obese or overweight, history of heart disorders such as replaced valve, coronary artery disease, or a need for a pacemaker.  Even with these issues, though, “Standard” or better may be available for life insurance at 56 years old.  For standard non smoker, use “regular” in our instant quote form on the right.

For an instant, no-obligation quote for life insurance for 56 year olds, feel free to use our quote form on the right to compare quotes from over 130+ top rated carriers.  Since we work with so many companies, we feel we have the lowest premiums anywhere online.  Plus, you don’t have to answer pages and pages of intrusive questions.  Once you hit “Compare Now”, you’ll see your quotes for term or whole life insurance at age 56.

*Written by Chris Huntley. Huntley Wealth Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.
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Chris Huntley
Chris Huntley is the owner of Huntley Wealth Insurance, a San Diego life insurance agency. You can find him on Google + and Facebook. Over the past 8 years, Chris has consulted with over 2000 individuals about their insurance needs. He is a proud husband and father to three adorable girls.
Chris Huntley
Chris Huntley

{ 5 comments… read them below or add one }

term life insurance May 7, 2011 at 6:03 am

Amazing facts are mentioned in the above article and yes people should have life insurance by the age of 56 years.It is beneficial for them and to their family as well. And having insurance at 56 years of age only need coverage for 10, 15, or 20 years that’s because their purpose of the coverage is to replace lost income from their job.


wayne siu December 29, 2013 at 11:34 pm

want insurance quote


Chris Huntley March 26, 2014 at 1:35 pm

I just sent you an email, Wayne. Give us a call at (855) 322-0784


Pam May 31, 2014 at 8:16 pm

I need quotes for whole life insurance policies for
Male- 58 years young- Nonsmoker-Nondrinker
Female-56 years young-Nonsmoker-Nondrinker
Thank you from Louisiana,


Chris Huntley June 12, 2014 at 10:34 am

Hi Pam,
I hope you know this is a public commenting forum. I’d prefer not to send those quotes to you publicly. One of my agents will email you.


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