Protective Insurance, Mutual of Omaha, Legal & General, Lincoln Financial and Ethos lead MoneyGeek's rankings for the best life insurance for 50-year-olds with the highest rating in our updated study. These insurers excel for this age group, but the ideal provider varies based on your coverage needs and financial situation.
Best Life Insurance for 50-Year-Olds & Over in 2025
Updated: October 11, 2025
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Key Takeaways
Protective Insurance is the best life insurance company for permanent policies, including whole and universal.
Mutual of Omaha ranks first for guaranteed acceptance life insurance for 50-year-olds and over.
Legal & General offers the best term life insurance for 50-year-olds, while Lincoln Financial is the top provider for no-exam term policies.
Ethos provides the best customer experience, earning the highest MoneyGeek rating for this category.
What is the Best Life Insurance for 50-Year-Olds?
Permanent Coverage | Protective Insurance | 5 | Whole: $1,076 (men) $954 (women) Universal: $421 (men) $366 (women) | Whole: $12,918 (men) $11,447 (women) Universal: $5,046 (men) $4,386 (women) |
Guaranteed Acceptance | Mutual of Omaha | 4.7 | $40 (men) $30 (women) | $482 (men) $364 (women) |
Term Coverage | Legal & General | 4.5 | $118 (men) $84 (women) | $1,412 (men) $1,010 (women) |
No-Exam Term | Lincoln Financial | 4.4 | $89 (men) $69 (women) | $1,067 (men) $829 (women) |
Customer Experience | Ethos | 4.2 | $166 (men) $127 (women) | $1,995 (men) $1,526 (women) |
The rates for term, no-exam, whole and universal life insurance are average quotes for $500,000 coverage for 50-year-olds. For guaranteed acceptance, we used a coverage amount of $10,000. Your rates will vary based on health, lifestyle, insurer underwriting and other factors. Contact insurers directly for personalized quotes.
Best Permanent Life Insurance: Protective Insurance
Protective
MoneyGeek Rating
5/ 5
5/5Affordability
5/5Customer Experience
5/5Coverage Options
Average Monthly Cost
Whole: $1,076 (men); $954 (women) Universal: $421 (men); $366 (women)Based on average quotes for $500,000 coverage for 50-year-old nonsmokers with average weight and health ratings.Average Annual Cost
Whole: $12,918 (men); $11,447 (women) Universal: $5,046 (men); $4,386 (women)Based on average quotes for $500,000 coverage for 50-year-old nonsmokers with average weight and health ratings.
Best Guaranteed Acceptance: Mutual of Omaha
Mutual of Omaha
MoneyGeek Rating
4.7/ 5
4.9/5Affordability
4.5/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost
$40 (men); $30 (women)Based on average quotes for $10,000 coverage for 50-year-old nonsmokers with average weight and health ratings.Average Annual Cost
$482 (men); $364 (women)Based on average quotes for $10,000 coverage for 50-year-old nonsmokers with average weight and health ratings.
Best Term Life Insurance: Legal & General
Legal & General
MoneyGeek Rating
4.5/ 5
4.3/5Affordability
4.7/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost
$118 (men); $84 (women)Based on average quotes for $500,000 20-year term policy for 50-year-old nonsmokers.Average Annual Cost
$1,412 (men); $1,010 (women)Based on average quotes for $500,000 20-year term policy for 50-year-old nonsmokers.
Best No-Exam Term: Lincoln Financial
Lincoln Financial
MoneyGeek Rating
4.4/ 5
5/5Affordability
3.3/5Customer Experience
4/5Coverage Options
Average Monthly Cost
$89 (men); $69 (women)Based on average quotes for $500,000 20-year term policy for 50-year-old nonsmokers.Average Annual Cost
$1,067 (men); $829 (women)Based on average quotes for $500,000 20-year term policy for 50-year-old nonsmokers.
Best Customer Experience: Ethos
Ethos
MoneyGeek Rating
4.2/ 5
3.6/5Affordability
5/5Customer Experience
5/5Coverage Options
Average Monthly Cost
$166 (men); $127 (women)Based on average quotes for $500,000 20-year term policy for 50-year-old nonsmokers.Average Annual Cost
$1,995 (men); $1,526 (women)Based on average quotes for $500,000 20-year term policy for 50-year-old nonsmokers.
Best Life Insurance for Over 50: Buying Guide
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.
How Much Is Life Insurance for a 50-Year-Old?
Life insurance costs for 50-year-olds vary by age, health status, coverage amount and insurer underwriting. The tables below show average costs of life insurance for 50-year-olds by policy type.
Term Life Insurance Cost for 50-Year-Olds
Data filtered by:Results filtered by:
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Gender:Female
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Term Length:10 years
| $100,000 | $23 | $276 |
| $250,000 | $38 | $459 |
| $500,000 | $65 | $778 |
| $750,000 | $97 | $1,165 |
| $1,000,000 | $124 | $1,482 |
Whole Life Insurance Cost for 50-Year-Olds
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Gender:Female
| $100,000 | $205 | $2,460 |
| $250,000 | $513 | $6,150 |
| $500,000 | $1,025 | $12,300 |
| $750,000 | $1,538 | $18,449 |
| $1,000,000 | $2,050 | $24,599 |
Universal Life Insurance Cost for 50-Year-Olds
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Gender:Female
| $100,000 | $79 | $943 |
| $250,000 | $196 | $2,356 |
| $500,000 | $393 | $4,713 |
| $750,000 | $589 | $7,069 |
| $1,000,000 | $785 | $9,425 |
Guaranteed Acceptance Life Insurance Cost for 50-Year-Olds
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Gender:Female
| $1,000 | $5 | $57 |
| $5,000 | $24 | $283 |
| $10,000 | $39 | $464 |
| $15,000 | $69 | $831 |
| $20,000 | $97 | $1,163 |
| $25,000 | $121 | $1,454 |
All rates above are based on our sample profiles (50-year-old nonsmokers with average weight and health ratings). Actual premiums will vary based on your profile and coverage needs. Contact insurers for personalized quotes.
MONEYGEEK DICTIONARY
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.
Average Cost of Life Insurance for 50-Year-Olds Who Smoke
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 thrice as much for life insurance as nonsmokers, as the table below shows.
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Gender:Female
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Smoking Status:No
| 10 years | $65 | $778 |
| 15 years | $80 | $956 |
| 20 years | $95 | $1,142 |
| 25 years | $156 | $1,876 |
| 30 years | $165 | $1,975 |
The costs above are based on a policy with $500,000 coverage. We used two profiles for comparison: (1) A healthy, nonsmoking 50-year-old with a $500,000 term policy. (2) A 50-year-old who smokes but is otherwise in good health with a $500,000 term policy.
Compare Life Insurance Quotes for 50-Year-Olds
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.
Life Insurance Calculator
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Life Insurance Costs for 50-Year-Olds: Factors Affecting Rates
When determining life insurance quotes for those over 50, insurers consider various factors to assess risk and set premiums accordingly. Learning about these factors can help you find the most suitable coverage options.
Age
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.
Health
Your overall health impacts life insurance rates. 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.
Lifestyle Choices
Smoking, alcohol use and engagement in high-risk activities can lead to higher premiums. Life insurance for 50-year-old who smokes, for instance, is usually more expensive than for those who don’t.
Gender
Women tend to have longer life expectancies 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.
Policy Duration and Amount
The length and amount of coverage also affect the cost. Longer terms and higher coverage amounts increase premiums. Term life insurance for a 50-year-old is generally cheaper than permanent plans.
Family Medical History
If there's a history of hereditary diseases in your family, insurers might consider you at higher risk, potentially increasing your premiums.
How to Get the Best Life Insurance Rates for 50-Year-Olds
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.
- 1
Buy sooner than later
Buying life insurance earlier will save you more money in the long run. Insurance companies also offer cheaper premiums and higher limits for younger applicants.
- 2
Get your policy re-evaluated if you improve your health
Several insurance providers may consider giving you lower rates if you’re working toward improving your health. You may need to submit new medical records and allow time to pass first.
- 3
Shop around
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.
- 4
Kick your smoking habit
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.
- 5
Maintain a healthy weight and exercise
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.
MONEYGEEK EXPERT TIP
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.
Should You Buy Life Insurance in Your 50s?
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 for men is $1,532. This is $2,710 less than the same coverage at 60. A 10-year term policy saves approximately $1,916 per year compared to buying a policy at 60.
The table shows how life insurance rates increase with age:
Data filtered by:Results filtered by:
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Gender:Female
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Term:10 years
| 20 | $18 | $220 |
| 30 | $20 | $235 |
| 40 | $31 | $369 |
| 50 | $65 | $778 |
| 60 | $174 | $2,087 |
| 70 | $479 | $5,746 |
The policy cost details above are average premiums for nonsmokers in good health, purchasing a term life insurance plan with a coverage amount of $500,000.
How Much Life Insurance Do I Need at 50?
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:
Evaluate Your Financial Obligations
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.
Consider Your Income Replacement Needs
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.
Assess Future Health Care Costs
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.
Review Existing Financial Resources
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.
Plan for Inflation and Cost of Living Adjustments
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.
Types of Life Insurance for 50-year-Olds
Choosing life insurance at 50 means evaluating options that match your changing financial priorities. Here's how the main policy types work for people in their 50s and what specialized coverage might make sense.
Provides coverage for a specific period (10, 20 or 30 years) with fixed premiums. | 50-year-olds who need temporary coverage to protect dependents or pay off debts like mortgages until retirement. | |
Combines permanent coverage with a cash value component that grows over time. Premiums cost three to five times more than term but remain active for life. | People with dependents who will always rely on their income or those using life insurance for estate planning. | |
Offers permanent coverage with flexible premiums and death benefits you can adjust based on your financial situation. | 50-year-olds whose income might fluctuate approaching retirement and want permanent coverage flexibility. | |
Covers burial and funeral costs with $10,000 to $25,000 in coverage.. | Those who want affordable coverage specifically for funeral costs and have health issues preventing traditional coverage. | |
Requires no medical questions or exams with guaranteed approval if you meet age requirements. Coverage is limited to $25,000 maximum with higher premiums. | 50-year-olds with serious health conditions who can't qualify for other coverage types. | |
Traditional coverage without requiring a medical exam, though health questions may apply. | Busy professionals who want substantial coverage without the exam hassle and are in good health. | |
Consider term life if you need temporary coverage to protect dependents or pay off debts. Choose permanent coverage if you want lifelong protection or plan to use life insurance for estate planning. For those with health concerns, guaranteed acceptance or simplified issue policies provide options when traditional coverage isn't available.
Your health, budget and coverage goals at 50 will determine which option provides the best financial protection for your family's specific situation.
Life Insurance Riders
Life insurance riders are optional benefits that you can add to a standard life insurance policy to enhance coverage or provide extra financial protection. For people 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:
- Accelerated Death Benefit Rider allows you to access part of the death benefit early if you're diagnosed with a terminal illness. Most insurers include this at no extra cost, making it valuable for 50-year-olds facing higher health risks. No age restrictions typically apply.
- Long-Term Care Rider provides financial support if the insured requires long-term care services. Many insurers stop offering this rider after age 60, so 50-year-olds should add it immediately if interested.
- Waiver of Premium Rider ensures that the coverage remains in force even without payment of premiums in case the policyholder becomes disabled and unable to work. Most insurers stop offering it after age 60, and benefits end at 65.
- Chronic Illness Rider provides benefits if you develop conditions like Alzheimer's or need help with two daily activities. It often has a maximum age limit of 65 for new additions.
COST-BENEFIT CONSIDERATIONS
For 50-year-olds, long-term care and chronic illness riders provide the best value given the higher likelihood of needing these services. Waiver of premium becomes less valuable as you approach retirement since you'll have fewer working years to protect. Add riders at 50 while you're eligible. Waiting until 55 or 60 might mean missing crucial age cutoffs.
Best Life Insurance for a 50-Year-Old: Bottom Line
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. Protective Insurance, Mutual of Omaha, Legal & General, Lincoln Financial and Ethos are the best life insurance companies for 50-year-olds, though your ideal choice depends on your family's specific needs and circumstances.
Compare Life Insurance Rates
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
Life Insurance When in Your 50s: FAQ
MoneyGeek's experts answered common questions to help you find the best life insurance for over 50:
Can you buy life insurance in your 50s?
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.
Is 50 a good age to buy a life insurance policy?
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.
What is the best life insurance for people over 50?
The best life insurance for people over 50 depends on health, lifestyle and financial goals. Many choose term life insurance for affordability or permanent life insurance for lifetime protection and cash value growth. Those with health concerns may prefer guaranteed acceptance life insurance, which offers coverage without medical exams or health questions.
Can I get life insurance without a medical exam at 50?
Yes. Many insurers offer no-exam life insurance for 50-year-olds, including simplified issue and guaranteed acceptance policies. These options provide quicker approval and easier qualification.
What are the benefits of guaranteed acceptance life insurance?
Guaranteed acceptance life insurance provides coverage with no medical exams or health questions, ensuring approval for applicants who might not qualify for traditional policies. It offers smaller coverage amounts but lifetime protection.
Is life insurance worth it after 50?
Life insurance after 50 is worth considering for securing financial stability for dependents, covering final expenses or leaving a legacy.
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Our Ratings Methodology
Choosing life insurance after 50 can feel overwhelming with health concerns, changing financial needs, and limited time to build wealth. We designed our research specifically to address the unique challenges faced by people in their 50s and beyond.
How We Chose the Best Life Insurance Companies for 50-Year-Olds
We analyzed 248,399 life insurance quotes alongside customer satisfaction data, financial stability reports, and product offerings to identify companies that excel at serving the over-50 market. Our research focused on insurers with broad national coverage and streamlined online quote processes — critical factors for busy adults managing career peaks and family responsibilities.
How We Score Companies
Companies earn up to five points across three categories, weighted to reflect what matters most when you're over 50:
- Affordability (55%): Premium costs become crucial as retirement approaches and fixed incomes loom
- Customer Experience (30%): Responsive service matters when dealing with health questions and claims
- Coverage Options (15%): Flexibility to adapt policies as needs change
Our scoring incorporates cost data from online quotes, AM Best financial strength ratings, BBB ratings, years in business, NAIC customer complaint indexes, J.D. Power satisfaction data, online customer reviews, and available tools like digital resources and flexible payment options.
Sample Customer Profile
We used a standard profile to ensure fair comparisons:
- 50-year-old male
- Nonsmoker
- 5 feet, 9 inches tall, 160 pounds
- Average health rating
We modified this profile by age, gender, height, weight, tobacco use, health rating and location to collect quotes across different scenarios. This approach helps us identify which companies offer the most competitive rates for various customer types in the over-50 demographic.
We collected quotes for term, whole, universal and guaranteed life insurance with varying coverage amounts, identifying patterns to calculate projections that extend beyond our original data collection. This comprehensive approach ensures our recommendations reflect real-world pricing you'll encounter when shopping for coverage.
Best Life Insurance in Your 50s: Related Pages
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.