Best Life Insurance for 50-Year-Olds

Best Life Insurance for 50-Year-Olds

May 01, 2024

fessional Advice on the Best Life Insurance Policies for 50-Year-Olds
Anthony M. Calabrese


Why is life insurance more expensive for people over 50?
Generally, insurance costs are based on health, tobacco use status and, of course, age. As individuals age, their longevity decreases. Thus, for individuals over 50, their life expectancy decreases considerably, and health issues begin to materialize more frequently.

How can individuals aged 50 optimize life insurance into their estate planning strategies?
One thought process is to consider second-to-death or survivorship life insurance policies. Considering the policy is based on two lives, costs become lower. Additionally, if cash flow warrants, one can consider front loading or reducing paying a permanent life policy to age 65 while still working. For example, take out a permanent life policy at age 50 that lasts until age 100, but pay all premiums from age 50–65 and then nothing during retirement.

Are there specific features of life insurance policies that become essential when considering options for individuals beyond 50?
Chronic illness and long-term care riders are, without question, more essential as individuals grow beyond age 50. The possibility of a need for care increases, and thus, in turn, the possibility of a need to pay the cost of care increases; chronic illness or LTC riders allow the use of the death benefit for purposes of long-term care needs.

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Best Life Insurance for 50 Year Olds


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risk including loss of principal. No strategy assures success or protects against loss.

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state’s insurance department for more information.Please keep in mind that insurance companies alone determine insurability and some people may be deemed uninsurable because of health reasons, occupation, and lifestyle choices.