Updated: September 15, 2025
Advertising & Editorial Disclosure
GEICO is the best life insurance company for 50-year-olds, with a MoneyGeek score of 99. Monthly costs average $104.
State Farm offers the best value proposition with strong performance at $50 monthly with excellent coverage and reliability.
Gerber Life provides consistent quality across multiple insurance categories with competitive $55 monthly rates.
GEICO leads MoneyGeek's rankings for the best life insurance for 50-year-olds with the highest rating in our updated study. GEICO excels for this age group, while the ideal provider varies based on your coverage needs and financial situation. Top companies by category:
Company | Best for | MoneyGeek Score | Monthly Cost |
|---|---|---|---|
GEICO | Best Overall | 100 | $104 |
State Farm | Best Value & Affordability | 81 | $50 |
Gerber Life | Best Consistent Quality | 83 | $55 |
GEICO leads MoneyGeek's rankings for the best life insurance for those over 50 with a perfect score of 100. Monthly premiums average $104, reflecting GEICO's market-leading position and superior performance across all rating categories. GEICO maintains perfect scores in specialized areas including guaranteed insurance and customer service while offering multiple payment options and strong financial backing. GEICO brings decades of market experience and top-tier financial ratings to provide stability. For 50-year-olds prioritizing comprehensive coverage and reliability, GEICO's premium pricing delivers exceptional value.
State Farm delivers exceptional value for 50-year-olds seeking quality coverage without premium pricing. At $50 monthly, State Farm offers one of the best score-to-cost ratios in the market at 1.63.
The company brings 101 years of industry experience and maintains an A++ AM Best rating. State Farm offers diverse coverage options, including whole life, term life, and final expense insurance. Its a limited pay whole life option that provides lifelong coverage without lifelong payments.
Low complaint rates demonstrate consistent customer satisfaction. While State Farm doesn't offer 24/7 chat support, its financial stability and product versatility make it an excellent choice for budget-conscious 50-year-olds who won't compromise on quality.
Gerber Life (Fabric) provides consistent performance across different insurance types, making it ideal for 50-year-olds who value reliability. Monthly costs of $55 deliver solid value.
The company performs well in guaranteed insurance, no medical exam policies, and overall coverage categories. This consistency demonstrates operational excellence and makes Gerber Life (Fabric) a dependable choice for various insurance needs.
Financial stability and diverse product offerings support long-term coverage needs. For 50-year-olds seeking reliable coverage from a company with proven multi-category expertise, Gerber Life (Fabric) offers an excellent middle-ground option.
Life insurance in your 50s provides financial protection for your family during peak earning years. This buying guide helps you compare options and secure the best policy for your coverage needs and budget.
Life insurance costs for 50-year-olds vary by age, health status, coverage amount and insurer underwriting. Allstate offers the cheapest insurance for men, while Transamerica provides the most affordable rates for women.
These costs reflect 10-year term policy quotes for healthy, nonsmoking 50-year-olds. The table below shows average life insurance costs from different insurers.
| Transamerica | $24 | $40 | $70 |
| Allstate | $24 | $40 | $69 |
| GEICO | $25 | $40 | $70 |
| Protective | $26 | $44 | $78 |
| Mutual of Omaha | $29 | $51 | $97 |
| Nationwide | $29 | $49 | $87 |
| Prudential | $31 | $54 | $92 |
| State Farm | $36 | $56 | $101 |
| AAA | $37 | $64 | $107 |
| Haven | $46 | $86 | $164 |
| Bestow | $51 | $91 | $174 |
| Fidelity | $63 | $113 | $208 |
| Progressive | $63 | $113 | $208 |
Guaranteed life insurance provides coverage for people over 50 without medical exams or health questions. While more expensive than traditional policies, guaranteed coverage benefits those with serious health issues who typically face coverage denial elsewhere. The table below shows average monthly costs for guaranteed life insurance at 50 with $10,000 and $25,000 coverage amounts.
| Ethos | $14 | $30 |
| Mutual of Omaha | $36 | $88 |
| Gerber Life | $44 | $109 |
| AIG | $56 | $137 |
| AAA | $59 | $128 |
| AARP | $59 | $146 |
Guaranteed acceptance life insurance provides coverage without medical examinations or health questions, making it accessible for people over 50 who struggle to obtain traditional coverage. Guaranteed acceptance policies carry higher premiums and offer lower coverage amounts because insurers accept greater risk without health screening.
Policies typically include a waiting period (usually two to three years) before full death benefits are available, with limited benefits during this period.
Your life insurance premiums will cost more if you use tobacco. Smoking is linked to health complications like cancer, which can shorten your life expectancy. Smokers typically pay more than twice as much for life insurance as nonsmokers, as the table below shows.
| Average Cost per Year | $ 776 | $ 1,811 |
**NOTE: The costs above are based on a policy with $500K coverage. We used two profiles for comparison: (1) A healthy, nonsmoking 50-year-old male who is 5 feet, 11 inches tall and weighs 175 pounds with a 10-year term policy. (2) A 50-year-old male who smokes but is otherwise in good health with a 10-year term policy.
Compare quotes from multiple life insurance providers to find the best rates for your coverage needs. Use the quote tool below for instant price comparisons.
We’ll give you a suggested amount of cover to buy in just 3 easy steps. — it's free, no personal information required, no spam.
Rates updated:
Sep 15, 2025
When determining life insurance quotes for those over 50, insurers consider various factors to assess risk and set premiums accordingly. Understanding these factors can help you find the most suitable coverage options.
Age is a primary determinant of life insurance costs. As you age, premiums typically increase because the risk of health issues rises, making policies more expensive.
Your overall health impacts life insurance rates significantly. Insurers often require medical exams to assess conditions that may increase the risk of early death. Life insurance for those over 50 with no medical exam is available, but it might come with higher premiums due to the lack of medical assessment.
Smoking, alcohol use and engagement in high-risk activities can lead to higher premiums. Life insurance for men over 50 who smoke, for instance, is usually more expensive than for those who do not.
Women tend to have longer lifespans than men, which may result in slightly lower life insurance costs for a 50-year-old woman than for a man of the same age.
The length and amount of coverage also affect the cost. Longer terms and higher coverage amounts increase premiums. Term life insurance for 50-year-old individuals is generally cheaper than permanent plans.
If there is a history of hereditary diseases in your family, insurers might consider you at higher risk, potentially increasing your premiums.
Life insurance coverage can be costly in your 50s. Fortunately, there are steps you can take to lower the cost of your premiums. The following tips can help you find the most affordable policy for your needs.
Life insurance is an investment, so buying insurance earlier will save you more money in the long run. Insurance companies also offer cheaper premiums and higher limits for younger applicants.
Several insurance providers may consider giving you lower rates if you are working toward improving your health. However, you may need to submit new medical records and allow time to pass first.
Although prices are important, consider the value you’ll get for your money and if the policy you’re considering will meet exactly what you need. When comparing companies, consider factors like customer satisfaction, complaints and likelihood of claims payouts.
Insurance providers consider your life expectancy when setting rates, so smoking will increase the cost of your insurance. If you’re looking to quit, different companies have varying time requirements until they no longer count you as a smoker or tobacco user. You typically must wait at least a year before you’re eligible for nonsmoker rates.
Having a balanced diet is equally important to pair with your regular exercise. Your overall health will affect your premiums, so it’s best to maintain a normal BMI to ensure you get the best over-50 life insurance rates possible.
Compare life insurance companies for distinct advantages, premium rates and policy features matching your over-50 coverage needs. Read customer reviews to identify providers with excellent service and reliability while evaluating rates and benefits.
Buying life insurance in your 50s offers significant advantages over waiting until your 60s. Purchasing coverage earlier represents the right time to purchase an insurance policy for lower premiums, easier medical underwriting and more time to evaluate coverage options for your beneficiaries.
Life insurance becomes more expensive and harder to obtain with age due to increased health risks. At 50, the annual cost of a 20-year term policy is approximately $2,162 less than the same coverage at 60. A 10-year term policy saves about $917 per year compared to purchasing at 60.
The table shows how life insurance rates increase with age:
| 50 | $65 | $776 | $7,763 |
| 60 | $141 | $1,693 | $16,934 |
| 70 | $410 | $4,922 | $49,215 |
**NOTE: The policy cost details above are average premiums for 50-, 60- and 70-year-old men who are nonsmokers in good health, purchasing a 10- or 20-year term plan with a coverage amount of $500K.
Determining the right amount of life insurance coverage is highly individualized. For someone aged 50 or older, evaluating coverage needs involves careful consideration of their financial situation and future goals. Here are some steps to help you decide the appropriate coverage amount:
List all your debts, including mortgages, car loans and other liabilities. Estimate future expenses like college tuition for children or retirement needs. This step helps ensure that your life insurance policy covers any outstanding debts and supports your dependents' future.
Determine the financial support your family would require to sustain their current lifestyle in your absence. A common rule is to aim for 10-15 times your annual income, especially if you're a primary earner. This factor is vital in choosing the best life insurance for those over 50.
Factor in potential health care costs that might arise. Chronic illnesses or long-term care expenses can significantly impact your family's finances, so consider how much of these costs you'd want your life insurance to cover.
Take stock of any savings, retirement accounts or existing life insurance policies. This review helps you understand how much additional coverage you might need to support your family adequately.
Ensure the coverage amount accounts for future inflation and cost-of-living increases. This consideration can help maintain the policy's relevance over time, particularly with life insurance for people over 50, where the policy might not pay out for many years.
By following these steps, you can make informed decisions about life insurance for those 50 and over, ensuring it aligns with your financial goals and your family's needs. You can also use our life insurance coverage needs calculator for an estimate.
Life insurance riders are optional benefits that you can add to a standard life insurance policy to enhance coverage or provide extra protections. For individuals 50 years old or over, these riders can tailor a policy to better meet specific needs or concerns that arise with age. Some particularly suitable riders include:
These riders enhance the value and utility of life insurance for those over 50, ensuring that their insurance can adapt to changing circumstances.
Life insurance at 50 provides financial security for your family, ensuring your spouse or children maintain financial stability after your death while covering funeral expenses to ease the burden on loved ones.
MoneyGeek analyzed policies and ranked the best life insurance companies for 50-year-olds based on cost, financial stability and coverage options. GEICO leads with a perfect MoneyGeek score of 100 as the top provider for 50-year-olds, though your ideal choice depends on your family's specific needs and circumstances.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
MoneyGeek's experts answered common questions about life insurance coverage for 50-year-olds.
The best life insurance for people over 50 depends on individual factors like age, health and lifestyle. Based on MoneyGeek's analysis, GEICO leads as the best life insurance company for 60-year-olds and offers the best life insurance for seniors aged 61 to 70.
Life insurance for healthy 50-year-olds with $500,000 coverage costs around $776 annually on average for a 10-year term policy. Your final cost depends on health, medical history, gender, age and lifestyle factors.
Yes, you can buy life insurance in your 50s through universal, whole and term life policies. Some insurers offer customized policies with added benefits. Compare options to determine the right coverage type and investment level for your needs.
Age 50 remains a good time to buy life insurance, though earlier purchases offer lower premiums and higher coverage limits. Buying coverage at 50 still provides cost advantages compared to waiting until your 60s.
Whether you need life insurance after 50 depends on your financial circumstances and goals. Coverage at this age protects loved ones financially and covers essential obligations like funeral costs.
The best life insurance type for 50-year-olds balances coverage needs with budget constraints. Term life insurance works best for short-term financial obligations, while permanent policies suit those wanting lifelong coverage and legacy planning.
Whole life insurance for 50-year-olds varies by health status and coverage amount. These policies cost more than term coverage due to lifetime protection and cash value benefits.
Life insurance after 50 is worth considering for securing financial stability for dependents, covering final expenses or leaving a legacy.
The best life insurance for parents over 50 depends on family and financial situations. Consider policies offering flexible benefits that adjust as responsibilities change, plus options for critical illness or long-term care payouts.
At age 55, you need coverage equal to 10 to 15 times your annual income. Adjust this amount based on outstanding debts, future expenses and financial goals.
Why Trust MoneyGeek?
We analyzed 1,488 life insurance quotes alongside customer satisfaction, financial stability reports, product offerings and more to determine the best life insurance companies for 50-year-olds.
Recency
Coverage costs and company information for life insurance providers were updated in 2025.
Methodology
MoneyGeek created a scoring system to compare life insurance companies across five categories and ranked them based on their scores. We chose to review these companies based on their broad national coverage and ability to provide an online quote.
MoneyGeek’s Scoring System
In our scoring system, companies can earn up to five points in each of the 5 categories. We then use these category scores to calculate an overall MoneyGeek score out of 100. We applied the following weightings to score insurers:
MoneyGeek calculated company scores and determined the best whole life insurance companies for 50-year-olds using the following weights:
Meanwhile, we determined the company scores and ranked the best life insurance providers for final expense life insurance policies using the following weights:
For no-medical-exam policies, we used the following weights:
We did not weigh affordability as we did not collect whole life, final expense and no-exam life insurance quotes.
Each company’s score incorporates:
Sample Customer Profile
MoneyGeek used a standard profile to obtain life insurance quotes:
Premiums are based on the standard profile unless otherwise noted.
We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect various quotes and determine the best life insurance company for several types of customers. We also collected quotes for term life insurance with varying term lengths and coverage amounts.
We identified trends in the dataset and used those patterns to calculate projections and extend the data beyond what was originally collected.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
