Protective Insurance, Mutual of Omaha, Legal & General, Lincoln Financial and Ethos lead MoneyGeek's rankings for the best life insurance for 50-year-olds. These insurers earned the highest ratings in our updated study and excel for this age group, though your ideal choice depends on coverage needs and financial situation.
Best Life Insurance for 50-Year-Olds & Over in 2025
Protective Insurance, Mutual of Omaha, Legal & General, Lincoln Financial and Ethos offer the best life insurance for 50-year-olds.
Find out if you're overpaying for life insurance below.
Select age group
Updated: October 27, 2025
Advertising & Editorial Disclosure
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 by policy type.
Term Life Insurance Cost for 50-Year-Olds
Data filtered by:
Female
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
Data filtered by:
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
Data filtered by:
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
Data filtered by:
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. These policies carry higher premiums and offer lower coverage amounts because insurers accept greater risk without health screening.
Policies 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 cost more if you use tobacco. Smoking is linked to health complications like cancer, which can shorten your life expectancy. Smokers pay more than thrice as much for life insurance as nonsmokers, as the table below shows.
Data filtered by:
Female
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
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.
High
Average
Low
Rates updated:
Nov 06, 2025
Life Insurance Costs for 50-Year-Olds: Factors Affecting Rates
Insurers look at several factors to decide life insurance rates for people over 50. Learning what affects your rates can help you choose the right coverage for your needs.
Age
Age is a primary determinant of life insurance costs. As you age, premiums 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-olds who smoke 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 50-year-old women than for men of the same age.
Policy Duration and Amount
The length and amount of coverage affect cost. Longer terms and higher coverage amounts increase premiums. Term life insurance for 50-year-olds is 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, 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, you can take steps to lower your premiums. The following tips can help you find the most affordable policy for your needs.
- 1Buy sooner than later
Buying life insurance earlier saves you more money in the long run. Insurance companies offer cheaper premiums and higher limits for younger applicants.
- 2Get 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.
- 3Shop around
Prices are important, but consider the value you'll get for your money and whether the policy meets exactly what you need. When comparing companies, consider factors like customer satisfaction, complaints and likelihood of claims payouts.
- 4Kick your smoking habit
Insurance providers consider your life expectancy when setting rates, so smoking increases your insurance costs. 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 must wait at least a year before you're eligible for nonsmoker rates.
- 5Maintain a healthy weight and exercise
A balanced diet is equally important to pair with your regular exercise. Your overall health affects your premiums, so 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 advantages over waiting until your 60s. Purchasing coverage earlier means 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—$2,710 less than the same coverage at 60. A 10-year term policy saves approximately $1,916 per year compared to buying at 60.
The table shows how life insurance rates increase with age:
Data filtered by:
Female
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 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 coverage you might need to support your family.
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 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 coverage remains in force even without payment of premiums if 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.
Loading...
Our Ratings Methodology
Finding affordable life insurance in your 50s means navigating health screenings, higher premiums and shrinking policy options. We built our research to identify which companies actually deliver value when age works against you.
How We Chose the Best Companies
We collected 248,399 life insurance quotes and evaluated customer satisfaction data, financial stability reports and product offerings. Our focus centered on insurers with national availability and efficient online processes—you don't have time for complicated applications when balancing career demands and family obligations.
The research examined companies offering multiple policy types because your needs in your 50s are complex. You might need term coverage for income replacement, permanent insurance for estate planning, or guaranteed acceptance if health issues have complicated your options.
Scoring Categories
Companies earn up to five points across three weighted categories:
- Affordability (55%): Premium costs matter most as retirement approaches. We weighted this heaviest because every dollar counts when you're building retirement savings and managing existing expenses.
- Customer Experience (30%): Claims processing and responsive service become critical when health concerns arise. Companies with strong satisfaction ratings and low complaint ratios scored higher.
- Coverage Options (15%): Policy flexibility matters when your financial situation shifts. We evaluated term lengths, coverage amounts, rider availability and conversion options.
Our scoring incorporates online quote data, AM Best financial strength ratings, BBB ratings, years in business, NAIC complaint indexes, J.D. Power satisfaction scores, customer reviews and digital tools like calculators and flexible payment options.
Sample Profile Details
We used a standard profile for 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 reveals which companies offer competitive rates for various customer types in the over-50 demographic.
Quote Collection Process
We gathered quotes for term, whole, universal and guaranteed acceptance life insurance with coverage amounts ranging from $10,000 to $1 million. We identified pricing patterns to calculate projections extending beyond our original data collection, ensuring our recommendations reflect real-world rates 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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.