Life insurance for 50 year olds
At 50, a 20-year level term policy is the most common choice, and it covers you to 70. Some carriers still sell 30-year terms at 50, but several stop there or at 55. The table below shows estimated monthly rates for $250,000, $500,000 and $1 million at ages 50 to 58.
Updated · Editorial standards
- A 20-year term bought at 50 ends at
- Age 70
- 30-year term cutoffs seen
- Ages 50 to 60, by product
- Mutual of Omaha TLE max after 50
- $250,000 (ages 51 to 60)
Estimated monthly cost: 20-year term at ages 50 to 58
| Age | $250K | $500K | $1M | |||
|---|---|---|---|---|---|---|
| Men | Women | Men | Women | Men | Women | |
| 50 | $40.23 | $33.22 | $71.75 | $58.44 | $131.30 | $106.08 |
| 52 | $46.36 | $38.13 | $83.40 | $67.76 | $153.37 | $123.74 |
| 54 | $53.60 | $43.92 | $97.16 | $78.77 | $179.44 | $144.59 |
| 56 | $62.15 | $50.76 | $113.40 | $91.76 | $210.21 | $169.20 |
| 58 | $72.24 | $58.83 | $132.57 | $107.10 | $246.53 | $198.27 |
Estimated monthly cost: 15-year term at ages 50 to 58
| Age | $250K | $500K | $1M | |||
|---|---|---|---|---|---|---|
| Men | Women | Men | Women | Men | Women | |
| 50 | $34.62 | $28.74 | $61.10 | $49.92 | $111.12 | $89.94 |
| 52 | $39.77 | $32.86 | $70.89 | $57.75 | $129.67 | $104.77 |
| 54 | $45.86 | $37.72 | $82.44 | $67.00 | $151.56 | $122.29 |
| 56 | $53.03 | $43.47 | $96.09 | $77.91 | $177.40 | $142.96 |
| 58 | $61.51 | $50.25 | $112.19 | $90.79 | $207.92 | $167.37 |
What people in their 50s buy life insurance for
At 50, the need often shifts from raising kids to finishing the mortgage and protecting retirement plans. College costs may still be ahead. A spouse may depend on your income until you both retire.
Some people at 50 have less need than before because savings have grown. Others carry more debt than expected. Add up what would be left unpaid, then subtract savings, using our calculator.
Your 50s are also a good time to review old policies. A term policy bought at 30 may end at 50 or 60, so check the end date before it surprises you.
Term lengths: 30-year options start to close
Your 50s are when the longest terms start to disappear. American Amicable's Home Protector allows a 30-year term only through issue age 50, while its Easy Term and Term Made Simple go to 55. Americo's Term 125 allows 30 years through 60.
A 20-year term is open at most carriers through your 50s and covers you to your early 70s. If you only need to cover a mortgage with 15 years left, a 15-year term costs less. Compare both tables above.
No-exam limits drop after 50
No-exam coverage gets smaller in your 50s. Mutual of Omaha's Term Life Express allows up to $550,000 through age 50, then $250,000 from 51 to 60. American Amicable's Easy Term and Home Protector cap coverage at $300,000 after 45.
If you need $500,000 or more, a fully underwritten policy with an exam is often the route. Healthy applicants may also get better rates that way. Read about no-exam life insurance and its trade-offs.
Health factors that weigh more at 50
At 50, underwriters look closely at conditions such as high blood pressure, type 2 diabetes, sleep apnea and heart disease. How well each is controlled matters most. Recent test results, medications and follow-up care all count.
A diagnosis does not always mean a decline. Simplified-issue products from carriers like American Amicable and Americo each ask different health questions. An independent agent can match your history to the right one. If you have a condition, see our final expense guides for options that accept more health issues.
Term vs permanent life insurance at 50
Term still gives the most coverage per dollar at 50. Permanent coverage starts to make more sense if you want money for final expenses or heirs no matter when you die.
Final expense whole life becomes available in your 40s or 50s. Mutual of Omaha's Living Promise starts at 45 and American Amicable's older-age final expense at 50. These policies are small, usually tens of thousands of dollars, and meant for funeral costs and final bills. See final expense insurance over 50.
Some people keep term for the mortgage and add a small whole life policy for burial costs. Compare with whole life or IUL if you want cash value.
Mortgage-focused policies at 50
If your main goal at 50 is the house, look at products built for mortgages. American Amicable's Home Protector still offers 15, 20 and 25-year terms at 50, and Americo's Payment Protector pays your family a monthly income.
Payment Protector is decreasing term with terms of 15 to 30 years and a to-age-70 option. Compare it with level term, which keeps the full amount. See mortgage protection cost by age.
Riders that end around retirement age
Some riders stop at set ages, so check them before you buy at 50. Mutual of Omaha's Disability Waiver of Premium Rider stops covering new disabilities at 60 or when the level period ends, if sooner.
Its Accidental Death Benefit Rider can only be added at issue ages 18 to 55 and ends at 65. Know these dates so you do not pay for coverage you will not have when you need it.
Which term lengths you can buy in your 50s
Maximum issue ages from carrier product sheets for no-exam, simplified-issue term. Fully underwritten products may differ.
| Carrier and product | 30-year | 25-year | 20-year | 15-year |
|---|---|---|---|---|
| American Amicable Home Protector | Through 50 | Through 55 | Through 60 | Through 65 |
| American Amicable Easy Term | Through 55 | Not offered | Through 65 | Not offered |
| American Amicable Term Made Simple | Through 55 | Not offered | Through 65 | Through 70 |
| Americo Term 125 / Term 100 | Through 60 | Through 65 | Through 70 | Through 75 |
Questions people ask
What happens to a term policy at the end of the term?
Coverage ends unless you renew or convert. Renewal premiums rise every year; Transamerica, for example, increases Trendsetter Super premiums annually after the level period.
Can a 50 year old get a 30-year term life policy?
Yes, at some carriers. American Amicable's Home Protector allows a 30-year term through 50, and Americo's Term 125 through 60, but availability varies by state and health.
How much does life insurance cost for a 50 year old?
It depends on health, tobacco use, coverage and term length. The tables above show estimated monthly rates for 15 and 20-year term at common amounts.
Can I get life insurance at 50 without a medical exam?
Yes. Mutual of Omaha's Term Life Express offers up to $550,000 without an exam through age 50 and up to $250,000 from 51 to 60.
Is it worth getting life insurance at 50?
It is worth it if someone would struggle without your income. It also makes sense if you have a mortgage or debts you do not want to leave behind. If your savings already cover those, you may need less.
What is the best type of life insurance for a 50 year old?
For income and mortgage protection, level term usually gives the most coverage for the money. For burial costs, a small whole life or final expense policy lasts for life.
Should I buy life insurance before or after 50?
If you need it, sooner is usually better. Several no-exam products lower their maximum coverage after 50, and premiums are based on your age when you apply.
Can I still get a no-exam policy at 55?
Yes, though limits are lower. Mutual of Omaha's Term Life Express allows up to $250,000 from ages 51 to 60. American Amicable's Easy Term allows up to $300,000 after 45.
Sources
- American Amicable Group: Products at a Glance (revised 8/25)
- Americo: Instant Decision Term Series Portfolio at a Glance (09-051-1, 02/24)
- Mutual of Omaha: Term Life Express product sheet (285243_0426)
- Mutual of Omaha: Living Promise Whole Life plan highlights (615060)
- Policygenius: Best life insurance for seniors
This page is for education and is not financial, tax or legal advice. Products, features and availability vary by carrier and state.
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