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30 Year Term Life Insurance for 60-65 Years Old

30 Year Term Life Insurance for 60-65 Year OldsIs it possible to purchase a 30 year term life insurance policy for 60 to 65 year olds?

It depends.

“Excuse me?” you say.

Well… If you asked me in 2012, the answer would be yes, but Genworth discontinued their Colony Term UL 30 policy.  I’ll get to this answer in a second.

We do have another wonderful option, Guaranteed Universal Life to Age 90 to 95 offering:

  • Option for Low, Fixed premiums for 30 years (Just like 30 year term)
  • A long term coverage solution
  • A fraction of the cost of whole life
  • Guarantees a level death benefit to age 90
  • .. and level payments to age 90

IMPORTANT NOTE: When we say “life insurance TO age 90, 95, or 100 in this article, we are talking about purchasing coverage when you are younger and the policy LASTS until age 90, 95, or 100. We are NOT able to insure individuals over age 90! We are sorry for any confusion.

How is the Policy to Age 90 Different from 30 Year Term?

The reason I said “it depends” if you could find a 30 year term in your sixties is because if you are 60 years old, it actually works just like a 30 year term, so if you’re 60, the answer is “yes”.

However, if you are between the ages of 62 to 65, while it offers coverage for a very long time, it’s not technically a 30 year term.

It’s actually very similar to the old Genworth 30 year term product.  You are basically paying for a guaranteed level death benefit and premium payment to age 90.  It’s technically a permanent (or cash value) type of policy, but you don’t overpay for cash build up as you do in whole life policies.  You pay the lowest possible premium for coverage to age 90 and you’ll get little to no cash value accumulation.

Here are a few sample quotes.

*                      $100,000 Face Value
Age      Guar. UL to 121 — Guar. UL to Age 90
60 Years Old    $131.50     $100.99
61 Years Old    $142.40     $104.23
62 Years Old    $150.90     $108.15
63 Years Old    $159.90     $114.91
64 Years Old    $169.10     $123.57
65 Years Old    $178.30     $131.41

*These quotes are accurate as of 7/3/13 and are based on a male, non tobacco user, in excellent health, and are subject to change.

Currently, the company I’m quoting above is Protective, but you should know they may change their rates or product offerings at any time.  They also have a policy which offers guaranteed level premiums and coverage to age 85, which is another 15% cheaper than the option to age 90, so if you only need coverage to your mid-80’s that could be a great option for you.

The rest of this post was first posted in 2010 and the rates are no longer applicable.  Your best bet is to call us at 877-443-9467 to discuss your options at this point, or you can get some quotes using our quote form on the right.

This policy  guaranteed you coverage for 30 years (taking you out to age 90-95, depending on your age), and offered coverage at a substantial premium discount to a guaranteed universal life policy to age 100.  That was Genworth’s Colony Term UL 30 product, which allowed you to pay term rates for 30 years, but has since been discontinued.

30 Year Term vs. Universal Life Insurance Rates, 60-65 Years Old

*                      $100,000 Face Value
Age      Guar. UL to 100 — 30 Year Term
60 Years Old    $115.50     $70.19
61 Years Old    $127.08     $77.78
62 Years Old    $137.98     $84.42
63 Years Old    $145.19     $92.06
64 Years Old    $154.39     $101.64
65 Years Old    $161.64     $110.73   (Guaranteed Coverage until age 95)

*Premium Quotes assume male, non smoker, in good health, quotes are as of 8/16/2010, subject to change.

Genworth has really hit a home run with this ColonyTermUL30 product.  While many life insurance companies offer 30 year term, none of them (except Genworth) offer 30 year term past age 60.  In fact, I represent over 130 carriers, I can can say that to my knowledge, Genworth is the only one, and I suspect the only company in the U.S., offering 30 year term rates for 60 to 65 year olds.

Who is this Product Suitable For?

If you began your internet search today thinking you wanted some type of whole life insurance, permanent life insurance, or universal life guaranteed to age 100, and you are between the ages of 60 and 65, you should seriously consider Genworth’s 30 year ColonyTermUL product.  You’ll save 46% to 64% over a guaranteed universal life policy, and maybe 70-80% over a whole life policy.

But you have to be comfortable with the fixed premiums expiring in 30 years.  Is that long enough for you?  Think about your family history.  Did you parents live to normal life expectancies (mid 70’s) or longer?  How is your health?  Do you expect to be alive and well in 30 years?  For most people, I suspect, insuring to age 90-95 is plenty.  If you are one of them, call me, Christopher J. Huntley, for assistance at 877-443-9467.

Note: To see instant quotes for this product, fill in the fields on the right, buy you won’t be able to select “guaranteed 30 year term” for the duration, as it is no longer available.


*Huntley Wealth Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.
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

All Comments

  1. Patricia M. Root on January 23, 2011, 11:56 am

    I am looking for a small life insurance policy to cover the costs of my death. I am 62 years old and would like to be insured until I am 90-95 in the amount of $20,000. I am healthy. Do you have a policy for me?

    • Chris on January 26, 2011, 1:13 am

      Hello Patricia,
      Yes, a 62 year old can get life insurance with guaranteed level premiums for a 30 year term through Genworth that would meet your needs to age 92. However, they are one of only two companies who offer 30 year term to people over age 60, and have a minimum face value of $50,000, so if you want less than 50K, you’ll need to buy a form of permanent insurance, such as whole life or universal life, but I’m sure Genworth’s premium for $50,000 will be lower. Please call us for a quote at 877-443-9467. Thank you!

  2. maria on April 3, 2011, 1:02 pm

    i need to insure my grandparents. they are older 92 and 88 .
    how much would the premiums be ? do you know of anything available?
    they have good health they have arthritis.
    thank you

    • Chris on April 8, 2011, 10:54 am

      Hello Maria,
      90 is my cut-off for the oldest I can help someone buy insurance, but please understand it is very expensive. For example, the average cost for a 90 year old male to purchase $50,000 of coverage is $7,800 per year, for a lifetime guaranteed policy. And that’s because you have to figure even the healthiest 90 year old’s life expectancy is only 4 or 5 years, so the insurance company has to recover costs quickly. Also, in policies for younger people, you’ll find a high percentage of policies lapsing, so the insurance company can give you great rates providing tremendous leverage with most insurance policies. However, they figure if a 90 year old is taking out a policy and willing to spend over 7K to put it in force, he is going to stick with the policy until there is a death.

      So everyone is clear, the purpose of this post is NOT to provide life insurance to people between the ages of 90 to 95… It is to provide coverage to ages 60 to 65 for a 30 year period, which will offer guaranteed level premiums until the ages of 90 to 95, depending on their age at issue.

  3. Betty Hull on April 16, 2011, 12:51 am

    How does one purchase term insurance that will last to death even if you live to be 120+ years old? Thanks

  4. Linda on August 30, 2011, 6:48 pm

    What if you are 67 and in excellent health? Are you policies only available up to age 65?

  5. nichole on February 4, 2012, 8:02 pm

    need to find life insurance for my 61 year old mother. She only has 5,000 dollars policy. if i was interested in a 100,000-200,000 dollars life insurance policy, how much will it cost monthly or annually.

    • Chris Huntley on February 8, 2012, 1:56 pm

      Hello Nichole,
      Sorry but it’s impossible to give a quote without knowing some details about your mother’s health. Can you give us a quick call at 877-443-9467? I’ll be happy to help you. Just ask for Chris.

  6. Susan on April 26, 2012, 11:57 pm

    Hi Chris my mom is 61 years old with graves disease and they took her thyroid out if I wanted life insurance for 200,000 whole or per can I do that but that’s all!

    • Chris Huntley on May 8, 2012, 11:18 am

      Hello Susan,
      Well, I can’t quote you without knowing what state you and she are in. If she’s in good health, otherwise, Standard rates or possibly a bit better may be available. Graves disease after successful treatment doesn’t have a big impact on life expectancy.

  7. donald e. shuster on May 10, 2012, 12:39 pm

    i am 81 now. i was looking for life insurance to 95 – 100. i am in good tobacco, no smoking . its possible to have the life insurance policy cover for me.

    • Chris Huntley on May 10, 2012, 12:48 pm

      Hello Mr. Shuster,
      Please call us at the office so we can give you a quote. There are many options at age 81. 877-443-9467. Ask for Chris.

  8. Keith Campbell on July 30, 2012, 10:07 am

    Are the premiums quoted on this website for 63 year old with no health issues “monthly premiums”?. I could not find the answer to this question. thanks, Keith

    • Chris Huntley on August 13, 2012, 12:54 pm

      Hi Keith,
      Yes, they are monthly premiums.

  9. pat on December 28, 2012, 10:12 am

    want to get life for mother she is 87 righr now in good health send some quotes please

  10. pat on April 4, 2013, 12:38 pm

    Checking for excellent health – male age 91 how much coverage and what premium


    • Chris Huntley on April 21, 2013, 11:26 pm

      Sorry, we can insure up to a max age of 89. Thanks.

  11. Richard K. on April 26, 2013, 6:01 am

    Hello I am in good health and still working as a chef. I’m looking for a quote of $100,000.00. I do not smoke and in good health. I would like someone to e-mail me with a quote for 30 years at $100,000.00 at age 67 Thank-You waiting to hear from you

    • Chris Huntley on May 1, 2013, 10:03 am

      Hello Richard,
      I have responded to you by email, and also deleted your last name from your comment, since this is a publicly viewed comment. Thanks for your comment.

      Call us at 877-443-9467 if you have any questions. Thanks.

  12. Linda on May 4, 2013, 8:07 pm

    I am looking for 1oo,000 policy for my husband who has seizures due to a potassium drop, about 1 every year. he is otherwise healthy. possible first to die or universal policy as well.

    • Chris Huntley on May 14, 2013, 9:09 am

      Hello Linda,
      We can help you with that. Give us a call at 877-443-9467 for a quote.

  13. Barb on May 6, 2013, 1:29 pm

    Did you send me a quote yet

  14. Gene L on June 20, 2013, 3:00 pm

    Could you send me a quote for life insurance.
    I’m 70 in great health no meds , not smoking.

    • Chris Huntley on June 24, 2013, 3:40 pm

      Hi Gene,
      I just sent you some quotes based on our email correspondence. Thank you for your comment.

  15. Norma on July 23, 2013, 2:37 pm

    I am 62 female looking for a policy that will help pay off my debts at the time of my passing so my children will not be left shacking their heads. I am in fair to good health non smoker non drinker. I have a few health issues that are controlled by medicines and diet.Looking for some thing that is cheaper than the policy I have that will not cover ever thing.

    • Chris Huntley on July 30, 2013, 10:43 am

      Hello Norma,
      Thank you for your comment. I will send some additional questions to your email.

  16. andy on August 12, 2013, 7:43 pm

    My mother is 62 and I am thinking of buying a term policy for her in the range of $300k. what would be the monthly premium????
    She has an excellent health , non smoker and non drinker.

  17. Luana terry on August 25, 2013, 8:21 am

    I go by terry. I am looking for 30 to 50 thousand dollars whole life where my preimum wont escalate like term does. I just turned 65 and am in excellent health. Please email me

    • Luana terry on August 25, 2013, 8:25 am

      I live in tx

  18. Charles Infantino on October 13, 2013, 8:29 am

    Hi, I am 63 years old have atrial fib and a pace maker. I work out 6 days a week and have no problems. Looking for 50,ooo what would it cost?

    • Chris Huntley on November 13, 2013, 12:23 pm

      Please call us at 877-443-9467 so we can get a few more details.

  19. Tai Le on January 23, 2014, 7:24 pm

    Hi Chris,
    I was born 07-1954 and leave in IA. I am looking for my term life ins, 30 years.I just need to be covered 50.000 if you have it. I am taking high cholesterol, prostate and acid reflux.

    • Chris Huntley on March 26, 2014, 12:51 pm

      I just sent you an email, Tai. Give us a call at (855) 247-9555 if still in need help.

  20. Tai Le on January 23, 2014, 7:27 pm

    Sorry, Chris.
    I forgot to let you know, I quitted cegarette smoking since 2009.
    Thank you

  21. frank on February 6, 2014, 6:07 pm

    Looking for quotes for parents. Mom is 61 non smoker has type 2 diabetes. Father 61 hypertension non smoker. Looking for 30 year term. Not sure about this if pass away in this time how much will they receive? Only amount put in? How many years before can. Collect policy amount t looking at 100,000 each or 50000. Live i n Louisiana

    • Chris Huntley on March 26, 2014, 12:21 pm

      Frank, I just sent you an email. Give us a call at 855-247-9555 and we’ll help determine your parents’ most affordable options.

  22. John V on June 11, 2014, 7:20 pm

    Please email a life insurance quote. Do not call the house as my 94 year old mother will answer the phone and get everything mixed up. Email will get a better response.Thank you

  23. Dawn on July 8, 2014, 11:02 am

    My dad is 66 years old he doesn’t smoke and is in good health. We are looking for a $100,000 life insurance for under $190 a month.
    Can you help or what is the best you can offer?

    • Chris Huntley on July 21, 2014, 2:39 am

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

  24. Tim Krichbaum on September 2, 2014, 12:13 pm

    I will turn 65 in February. I’m in good health, I’m not a smoker, and I have longevity in my family (my parents are near 90 and I have relatives who range in age from mid their nineties to 100. Is it possible for me to get coverage to the age of 90 (25 year term policy), and what would my monthly premium be for a $70,00, $100,000, and $140,000 policy? Thanks in advance for your help.

    • Chris Huntley on September 6, 2014, 1:52 pm

      Hi Tim,
      We would love to put together a few quotes for you. You can expect to hear from us to get things moving in the right direction.

  25. Janice goldman picker on October 22, 2014, 1:55 pm

    Can u call me I’m looking for 30 yr term for my husband aged 65

    • Chris Huntley on November 7, 2014, 2:45 pm

      Hi Janice,
      We would be more than happy to give you a call and help you with your insurance needs.

  26. Bishnu on November 26, 2014, 6:42 am

    Hello, my dad is 63 and I’m thinking of buying a turm policy for him in the range of 4 hundred thousend . What would be the monthly preminum he has an excellent health non smoker and non drinker.

    • Chris Huntley on November 30, 2014, 11:13 pm

      Hi Bishnu,
      One of my colleagues will be in touch with you to work up a few quotes for your Father’s insurance needs.

  27. Francisco Greaves on February 8, 2015, 7:57 pm

    Please be specific. Describe the term level premium. I need a premium that will be fixed for the maintenance of the policy. I am 62 years of age going into retirement on a fixed income, and I don’t need to travel through my golden years with unaffordable financial obligations. Therefore, please give me more clarity to that term used: “level premium”.

    • Chris Huntley on April 29, 2015, 11:49 am

      You can get a quote on our site which tells you the exact premium.

  28. mario garza on March 5, 2015, 8:21 am

    i am 65 years old, and retired. i am currently on hp and cholesteral meds. i need between 75 to 100 thousand life insurance.

    • Chris Huntley on March 16, 2015, 4:27 am

      Hi Mario,
      We will be getting in touch with you with a few questions to help us find the most affordable option for you.

  29. Beverly on November 5, 2015, 1:15 pm

    Hello i read your information concerning life insurance for ages 60 to 65 well im 63 year old female and is asking for a afforable rate insurance of around 20,000 could you give me a quote or give me your mailing address, im on a fixed income also im a widow Thanks

    • Chris Huntley on November 8, 2015, 10:41 pm

      Hi Beverly,
      I’ve forwarded your information to Cliff Pendell to help you with your insurance needs

  30. George Moore on February 17, 2016, 8:01 am

    Chris, I’m 60yrs old, looking for a insurance policy for 50k that will cover me till death. I had two stents put in Oct 2010.

    • Chris Huntley on February 20, 2016, 5:43 pm

      Hi George,
      I have forwarded your information to Jason Dana to help you with your insurance needs.

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