Life Insurance at Age 50

I have quite a few clients who call me and are worried because their 20 or 30 year term policies have ended or they’ve lost their group coverage because of retirement or being laid off. They think that its going to cost an arm and a leg to get life insurance at age 50. In most cases, this isn’t true. Because the need for life insurance doesn’t end at age 50, there are many companies who offer very affordable rates to healthy 50 year olds. If you have some health issues, you can still qualify for life insurance through graded or guaranteed life insurance programs.

So how much is life insurance at age 50?

Here’s an idea of what a 50 year old might pay for $100,000 20 year term life insurance policy. These rates are based on a preferred health rating and they are examples only.

50 year old non-smoking male: $250.00 per year
50 year old non-smoking female: $203.00 per year

50 year old smoking male: $467.00 per year
50 year old smoking female: $350.00 per year

Because there are so many variables that go into your life insurance premium by age, it is important to speak with an experienced agent to get the most accurate quote. Make sure that they work with multiple companies to be sure you get the absolute lowest rate for your situation. Get a free quote today to compare rates for life insurance at age 50. Remember that rates can vary by as much as 70% so it definitely pays to compare.

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