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Life Insurance for 50 to 59 Years Old | Tips & Sample Quotes

At Huntley Wealth Insurance, we specialize in understanding and meeting the life insurance needs of individuals ages 50-59.

Whether you are coming to us as a healthy, non-smoker, or if you have medical conditions such as diabetes, previous bouts with cancer or heart troubles, overweight, or are a smoker, we are experts at helping you find the most affordable premiums from the highest rated insurance companies.

Monthly Premiums for Healthy Male, Ages 50-59 Years Old

Age                       $100,000  $200,000  $300,000  $400,000
50 Year Old Male    $14.44    $21.15    $28.14    $35.84
51 Year Old Male    $14.70    $22.87    $31.26    $39.66
52 Year Old Male    $15.66    $24.57    $33.82    $43.07
53 Year Old Male    $17.11    $27.47    $38.17    $48.87
54 Year Old Male    $18.40    $30.36    $42.31    $54.27
55 Year Old Male    $19.69    $32.94    $46.18    $59.43
56 Year Old Male    $21.16    $35.86    $50.57    $65.27
57 Year Old Male    $22.88    $39.30    $55.73    $72.15
58 Year Old Male    $24.94    $43.49    $61.60    $80.39
59 Year Old Male    $26.80    $48.07    $66.56    $87.00

(10 Year Level Term Life Insurance Quotes – Premiums based on healthy, male, non-smoker.  Rates valid as of 6/24/2013, subject to change)

Reasons Life Insurance is Needed in Fifties

  1. Income replacement – You’re still working and want to leave your spouse, partner, or children a death benefit.
  2. Estate Planning – You may need to add liquidity to an estate filled with real estate or business holdings, or after 2010, you may need the insurance to pay for estate taxes.
  3. An Inheritance – You don’t care how old you are when you pass.  You want to leave something to your family.
  4. Business Insurance
  5. Used in Conjunction with a Trust – Common uses are to fund an AB or Bypass trust, or Irrevocable Life Insurance Trust.

Example Life Insurance at 52 Years Old – The Cost of Putting off Life Insurance to 53 Years Old

If you need life insurance at age 50 or older, please be aware that your premiums change substantially each year you wait.  For example, I had a 52 year old applicant wait to apply until a couple months after he turned 53 years old, and his premium went up from $592 per year at age 52 to $642 per year at 53 years old, for a 20 year term with $250,000 coverage.  That’s an 8% increase.  It’s higher if you wait longer.

For example, the jump from 56 years old to 57 years old is approximately 10% per year.  That’s because the older we get, the higher the annual increase is for waiting an extra year.  So if you’re in your early fifties, like 51 years old or 52 years old, you can expect about an 8% increase for each year you put off buying life insurance, whereas if you’re in your late fifties, say 58 or 59 years old, you’ll pay around 10% extra.

How much life insurance does a 50 year old need?
How much life insurance does a 51 year old need?
How much life insurance does a 52 year old need?
How much life insurance does a 53 year old need?
How much life insurance does a 54 year old need?

Guaranteed Level Term – 10, 15, 20, or 30 Years – Also, remember you should lock in your coverage for as long as you need life insurance.

Say a 54 year old male buys a 15 year term life insurance policy.  His premiums will be guaranteed to stay level until he’s 69. Many people in their early fifties may only need a 10 year term or 15 year term life insurance policy because they are nearing retirement an no longer need the coverage in 10 or 15 years.

Here’s how this works.  Let’s say a 51 year old purchases a 10 year term policy.  At the end of the 10 year term, the policy does not just cancel itself.  The 51 year old, now 61, will be offered a renewal rate, which will probably be too high to pay, and he’ll probably let the policy go, but he’ll at least have the option to keep it without proof of insurability.

That’s why it doesn’t matter if you’re 51 or even 57 years old; you should buy a term policy for a length that matches the amount of time you’ll need coverage.  You don’t want to buy a 15 year term policy at age 53 if you just refinanced your mortgage and need coverage for the next 30 years to cover your mortgage, right?

How much life insurance does a 55 year old need?
How much life insurance does a 56 year old need?
How much life insurance does a 57 year old need?
How much life insurance does a 58 year old need?
How much life insurance does a 59 year old need?

The key to finding the best term life insurance rates is using an independent agency like ours who can shop your case out to all the top rated carriers. For more information about us, please visit our About Us page and my .

For instant quotes on 10, 15, 20, 25, and 30 year term, at ages 50 years old, 51 years old, 52 years old, 53 years old and 54 years old, along with return of premium and whole life insurance quotes, use the quote form on the right.  Please note for whole life to choose an option with level premiums to age 100 or 120.  We also have life insurance quotes at age 55 years old, 56 years old, 57 years old, 58 years old, and 59 years old.

*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

Quotes on 10 year, 15 year, 20 year, 30 year term life insurance, return of premium term life insurance, and universal life insurance, for men in their fifties (Ages 50, 51, 52, 53, 54, 55, 56, 57, 58, & 59), showing premiums for face values of $100,000, $200,000, $300,000 & $400,000 policies.


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{ 20 comments… add one }

  • Elbert Nieves September 10, 2010, 7:47 pm

    I am interested on the $400,000 life insurance for 30 years, for
    52 Year Old Male at $43.07, please send me all the information.
    Elbert Nieves

  • anthony Colon February 25, 2011, 6:59 pm

    I am 55 and need a term life $50.000 policy.

  • James Hayward July 27, 2011, 7:59 pm

    In Re: “Save Age”

    You recently mentioned a 60 year old male purchasing a Genworth policy and you sent him an email suggesting he save age. One thing you DID NOT mention (And I would be interested in your comments) is that if he back dates the policy 2 months, yes he has to pay those premiums but he also reduces his policy term by two months. I am age 50.5 and I am contemplating the same thing with GNW Life $500k 30 Yr. the premium in the first month after year 30 is approximately $2,700 per month or $5,400 total. If the policyholder passes during that 60 day period his beneficiary won’t get the death benefit. All things being equal with the grace period on both policies.

    With kindest regards,
    James

    • Chris July 28, 2011, 1:36 pm

      Hello James,
      I can’t say I follow your logic. Are you suggesting that you would alter your decision about whether or not to backdate 2 months because your policy will now only provide coverage for 29 years, 10 months, rather than 30 years? If that’s what you’re saying, then you have to weigh the cost savings of backdating with the fact that your term length will be shortened by 2 months. I’m sure the savings will be SUBSTANTIALLY worth backdating. How much per month will you save by backdating? I’ll run the #’s for you. But my overall comment is that’s a pretty small window to be concerned about dying inside of a 60 day period 29+ years from now. If it helps ease your apprehension, there’s a good chance that if you were to pass away during that time frame, you may already know that you’re dying prior to the term’s expiration, which would make it an easy decision to continue paying the premiums at that point. If you’re 80 and your term is about to expire, and you’re still in excellent health, then you probably won’t continue paying the premiums, and will let the policy lapse.

      • David July 13, 2013, 12:56 pm

        I need information on 400000 for 51 old male.

        • Chris Huntley July 30, 2013, 11:08 am

          Hello David,
          Sorry it took a while to get back to you. I’ll email you some questions about this.

  • Ted September 22, 2013, 7:33 am

    I’m looking at retiring Jan 31, 2014. I’m 55 & 1 month. My question is a comp type; currently thru my employer I pay $184 for a basic life (my salary @ 1.5), I also have an elective of 5 times my salary. Total comes to approx. 400k in life insurance. Would it be better to get my own single policy or continue with what I currently have.
    Right now I don’t know how my premiums will change in retirement with what I currently have. You thoughts?

    • Kimberly Ely October 3, 2013, 11:45 am

      Hello Ted – It’s wonderful when an employer provides life insurance to their employees, however, you are wise to thoroughly investigate the details of your coverage, as well as comparing prices to an individual policy of your own. Often, employer-owned policies are not Level Term and/or Level Premium products. They are often designed with premiums that will increase as you age, and/or death benefits that will be reduced as the years go by. So, to be on the safe side, read the policy thoroughly, including the fine print, to see if the coverage and term remain the same until the end of your life. And, at the same time, get yourself some qualified quotes, based on your accurate health rating, for an individual policy – you might find a better product that will meet your needs, at a more affordable price. Please let me know if I can be of service! 877-443-9467

  • Jeff g January 11, 2014, 8:01 pm

    Looking for 300.000 policy I am 54 yrs old

    • Chris Huntley March 26, 2014, 1:27 pm

      I just sent you an e-mail, Jeff. Give us a call at 855-247-9555.

  • Helen zabinski March 8, 2014, 11:35 am

    I’d like a cheap quote for me age 54 can’t afford to pay these high premiums I look forward to hearing from someone

    • Chris Huntley March 26, 2014, 10:48 am

      I just sent you an email Helen. Give us a call at 855-247-9555.

  • Rajeev June 8, 2014, 1:55 am

    Sir, for 52 years old man which policy best

    • Chris Huntley June 12, 2014, 10:32 am

      It really depends on your needs and financial plan moving forward. Some people only have a short term need for coverage, like for a business loan. Some people want coverage for the rest of their lives. So I hope you see it’s impossible to answer that based on the limited info you provided. Give us a call to discuss at 877-443-9467.

  • Earl Davis July 9, 2014, 6:16 pm

    I know this is a little off topic, but, I recently retired from the Air Force after 25 years, and am searching for a replacement for the military life insurance. I have a couple of months to search something before the military retirement policy either runs out. (I do have the option to keep it but it becomes very expensive after age 50) Can you let me know what 400k on a 43yr old male would be?
    Thanks.

    • Chris Huntley July 21, 2014, 2:43 am

      We will email you some questions so we can give you a quote.

  • Al C. July 10, 2014, 6:45 pm

    I am a 52 year old male and looking for a 500.000 life insurance. 10 or 15 yrs depending on price.

    • Chris Huntley July 21, 2014, 2:48 am

      We will email you some questions so we can give you a quote.

  • Rene August 22, 2014, 1:40 pm

    Hi,

    I was interested in receiving pricing for a 250k, 400k, or 500k level term for 15 yrs. I am 53 years old, non smoker.

    Thank you in advance.

    • Chris Huntley September 6, 2014, 1:29 pm

      Hi Rene,
      Unfortunately, we cannot speak as to any rider clause your current policy may have. Each company and policy holds their own set of riders and specifications. You can always feel free to give us a call at 877-443-9467.

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