2025 Guide to Life Insurance For Ages 51-53
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
Thinking about life insurance for ages 51-53? I know, it sounds like a big, complex thing, right? But trust me, it’s not as overwhelming as it seems.
You’re at a great stage in life – full of experiences and smarts. And let’s face it, sorting out life insurance is one of those smart moves to make now.
I’m here to keep it straight to the point and easy to understand. We’ll explore all the options and find something that feels just right for your situation.
So, let’s dive in together and tackle this with some good old plain talk, no fancy jargon. You’ll see, it’s not as daunting as it sounds.
Table of contents
Life Insurance For Age 51
Life insurance is a tricky thing. There are so many considerations that both you and life insurance companies need to make. The following will focus on life insurance for 51-year-olds.
If this isn’t your first time buying a life insurance policy, you’ll notice how different it is from the last time that you applied. Nonetheless, life insurance is just as important as it has always been.
While many people may think that it’s pretty late to get life insurance in your 50’s, there are many reasons why you should. After all, without life insurance, you put your family at risk. They would inherit any of your debts and final expenses if something unfortunate were to happen to you.
How Much Life Insurance Do I need at Age 51
Your personal circumstances are extremely relevant to your life insurance policy. As a 51-year-old, there’s a good chance that you are getting close to retiring. In many cases, your children have moved out of this house, and you could be close to completely paying off your mortgage.
In fact, when you’re 51, you may have or be close to having grandchildren. Although your children may no longer be financially dependent on you, and your mortgage is close to being paid off, there are still reasons why you may need coverage as a 51-year-old.
It’s important to add up how much life insurance you’ll need to get the coverage that you want. Calculate any debts and the amount you still owe on the mortgage. This way, you’ll know how much life insurance you’ll need.
Burial and Final Expense Insurance at Age 51
Above all, Final expenses coverage is always included in a life insurance policy. A burial can cost around $10,000. Most people do not want to leave this for their family to pay, which is why burial insurance is so popular.
Lastly, you should consider using your life insurance to replace your income, especially if you have people that are still financially dependent on you. Once you pass away, people relying on your income will no longer be financially secure unless you choose to cover this in your policy.
Here are the top rates bor burial insurance for age 51. In this example, we will look at $25,000 in coverage.
Sample Burial Insurance Rates For Male and Female Age 51
| Gender & Rate Class | Coverage | Monthly | Annually |
|---|---|---|---|
| Male Level | $25,000 | $68.28 | $785.25 |
| Male Graded | $25,000 | $122.29 | $1358.75 |
| Female Level | $25,000 | $55.10 | $640.75 |
| Female Graded | $25,000 | $96.82 | $1075.75 |
How Expensive Is Life Insurance At Age 51?
First off, know that life insurance rates will vary from person to person. Women pay less for life insurance than men. Life insurance companies will assess your level of risk before offering you a price. People who smoke, for example, usually pay 2-3 times more for their life insurance than nonsmokers.
However, assuming that you don’t smoke and you are in good health, It is very possible to get cheap life insurance. As a healthy 51-year-old looking for $100,000 worth of coverage, you can find 10-year term policy for less than $30/month.
It helps to compare several quotes before deciding on a policy. This way, you can compare the prices and choose the most affordable option. Make sure that you are only working with the top life insurance companies since they are more likely to provide you with stable coverage.
Cost of Term Life Insurance For Age 51
Above all, and like any other term life insurance coverage is determined on age, build and health history. So we will take a look at a $1,000,000 term life example for a 51 year old male and female.
| Gender & Rate Class | 10yr Term | 20yr Term | 30yr Term |
|---|---|---|---|
| Male Preferred | $75.76 | $136.66 | $286.83 |
| Male Standard | $176.44 | $288.43 | $518.34 |
| Female Preferred | $60.26 | $111.26 | $205.89 |
| Female Standard | $126.70 | $210.72 | $387.60 |
What Kind Of Life Insurance Is Best For A 51-Year-Old?
This will vary from person to person, depending on their situations. We can not definitively recommend any one type of insurance without knowing more about you.
Hiring an independent insurance agent can be extremely helpful. They’ll be able to advise you properly, and they can save you a lot of money in the long run by finding you an affordable life insurance policy.
Life Insurance For Age 52
Are you 52 years old and looking to buy life insurance? It’s never too late to get a life insurance policy. Although buying life insurance in your 50’s will be more expensive than for someone that’s buying life insurance in their 40’s, it’s still very possible to find affordable coverage.
At the age of 52, there are several factors to consider before choosing a life insurance policy. For one, people in their 50’s are getting towards the age where unexpected health issues begin to arise. Therefore, a life insurance policy is more important than ever.
Without a life insurance policy, your family is at risk. If you were to pass away, your family would inherit your debts, mortgage, and final expenses. While thinking about your own death is not fun, a life insurance policy can give you peace of mind, knowing that your family is secure.
As a 52-year-old, you most likely still have some years left on your mortgage and car payments. A life insurance policy can protect your family from these bills if something were to happen to you. In the end, life insurance is important for adults of all ages.
What Kind Of Life Insurance Is Best For A 52-Year-Old?
You’ll first need to decide between a term life insurance plan or a permanent life insurance plan. At this age, cheap term life insurance coverage is usually the most desired option.
Term life insurance, as the name suggests, only offers temporary coverage. You’ll need to decide how long you want coverage. Once that amount of time has expired, your protection ends.
However, term life insurance is a popular option because of the flexibility in coverage and affordable prices. For example, if you only need life insurance for the extent of your 20-year mortgage, you can buy a 20-year term life policy.
On the other hand, permanent life insurance, such as whole life insurance, operates quite differently. With whole life insurance, you will be protected for your entire life, so long as you continue to pay the premiums.
Whole life insurance also accumulates cash value build up over time. Therefore, whole life insurance can be thought of as an investment.
However, whole life insurance is more expensive, and if you are already 52 years old, a term policy is usually the superior option. Every person has different circumstances.
It’s a good idea to hire an independent insurance agent to guide you through the process. They can help you decide on a policy and can find you the most affordable options.
Term Life Insurance Rates Age 52
What Are Some Ways To Get More Affordable Life Insurance?
If you’re motivated enough, there are many things you can do before applying for life insurance that will lower your rates. For most plans, you’ll need to take a medical exam.
Here, they will assess your level of risk. It’s important to make a good impression. Follow the tips below before applying to get more affordable life insurance:
- Quit Smoking — Cigarette smokers are considered high-risk applicants by insurance companies. If you are able to quit smoking a few months before applying for life insurance, your life insurance rates may be cut in half.
- Improve Your Diet — Eating healthy is one of the best things you can do to improve your overall health. If you can maintain a strict diet, you’ll lose weight, lower your cholesterol, and improve your heart health.
- Exercise Regularly — Daily exercise is another thing you can do to lower your life insurance rates. Life insurance companies want to see that their applicants are in good shape before they decide on whether or not to cover them.
- Compare Quotes — By receiving several quotes, you’ll be able to find the most affordable options. This is one of the best ways to save money on life insurance.
Here are some rates for a male and female age 52 on a $500,000 term life insurance policy.
Sample Term Life Insurance Rates Age 52
| Gender & Rate Class | 10yr Term | 20yr Term | 30yr Term |
|---|---|---|---|
| Male Preferred | $84.56 | $150.56 | $322.81 |
| Male Standard | $191.27 | $325.50 | $568.10 |
| Female Preferred | $37.66 | $66.48 | $121.80 |
| Female Standard | $73.33 | $118.74 | $224.22 |
No Exam Life Insurance For Ages 51-53
If you are having difficulty getting approved coverage due to health issues, no medical exam policies are always an option. Although more expensive, these plans have very high acceptance rates, and the coverage will begin far quicker than regular policies.
Life Insurance For Age 53
As your 60’s begin to creep up on you, it’s very natural for a 53-year-old to consider what would happen to their family if they were to pass away. It can be because there are still years left on your mortgage. Or if you have any unpaid debts. The last thing you would want is for your family to inherit these bills.
Final expenses must also be considered — funeral services usually cost around $10,000. At the age of 53, it makes more sense than ever to apply for life insurance protection for your family.
The good news is that a relatively healthy 53 years old still has an excellent chance of getting affordable life insurance. While shopping for life insurance, your age is certainly a major factor in determining your rates. However, it’s never too late to get covered.
What Are My Life Insurance Options At Age 53
Luckily, there are always several life insurance options to choose from, regardless of age. The two most popular options are cheap term life insurance and permanent life insurance. We’ll break down the difference between these two below:
- Term Life Insurance — This is the cheaper of the two options. Term life insurance offers coverage for a temporary amount of time, i.e. a 10-year term life plan. This is a popular choice for those on a budget. Also for those that don’t feel like they need to be covered forever. For example, a person may want to buy a 20-year term life insurance plan to go with their 20-year mortgage.
- Permanent Life Insurance — There are many types of permanent life insurance policies. As the name suggests, these plans will cover you for your entire life. Whole life insurance and universal life insurance are two of the most common kinds of permanent life insurance.
Unlike term life insurance, whole life insurance and universal life insurance have a cash value build-up component, where cash can accumulate interest. Therefore, permanent life insurance plans can be thought of as an investment. However, their premiums will be significantly higher than term life insurance.
How Much Does Life Insurance Cost For A 53 Year Old?
If you are a 53-year-old in good health, you may be surprised at how cheap life insurance can be.
For example, for a $250,000 20 year term life insurance policy, a 53-year-old male can expect to pay around $1,000/year.
On the other hand, a healthy 53-year-old female can expect to pay around $725/year for the same policy. As you can see, women do not pay as much for life insurance as men. This is because, on average, women outlive men by about 5 years.
Sample Term Life Insurance Rates For Age 53
| Gender & Rate Class | 10yr Term | 20yr Term | 30yr Term |
|---|---|---|---|
| Male Preferred | $30.16 | $50.82 | $95.45 |
| Male Standard | $60.55 | $97.59 | $164.30 |
| Female Preferred | $24.01 | $39.95 | $72.82 |
| Female Standard | $44.24 | $71.75 | $129.32 |
Of course, these rates will vary depending on the life insurance company and your health condition. This is just to give you a rough idea of how much life insurance costs for 53-year-olds.
How Can I Get More Affordable Rates On My Life Insurance at Age 53
There are several ways to lower your life insurance rates, especially if you’re willing to put the effort in before applying. Below, we have a few tips on how to make your life insurance more affordable:
- Improve Your Overall Health Before Applying — If you begin a strict diet and exercise regimen before applying for life insurance, it could save you loads of money. Eating healthy and exercising regularly can lower your blood pressure, lower your cholesterol, and help you lose weight. Applicants that are in good health won’t have to pay nearly as much as a “high-risk applicant”.
- Shop Around Insurance Companies — This is the number one rule when applying for life insurance. Since every company will view you differently, getting multiple quotes will help you find the most affordable policies.
- Quit Unhealthy Habits Before Applying — Cigarette smokers pay 2-3 times more for their life insurance than nonsmokers. If you can kick that habit a few months before applying for life insurance, you can cut your life insurance rates in half.
High-Risk Applicants Ages 51-53
If you are a high-risk applicant, and you’re finding it difficult to be approved coverage, you can apply for a no medical exam policy. Although more expensive, these policies have high acceptance rates, and they’ll begin covering you almost immediately.
There is no doubt that obtaining life insurance in your 50’s is a complicated process. Consider hiring an independent insurance agent to assist you. They can save you a lot of money in the long run by finding you the most affordable option.
FAQs
What’s the smartest life insurance pick for folks around 51 to 53?
You know, finding the right life insurance when you’re between 51 and 53 really boils down to what you need and your budget. Term life insurance? That’s like renting insurance for a certain number of years – it’s usually easier on the wallet. Whole life insurance is pricier but sticks with you forever and can be a big help when you retire. Best bet? Check out a few different kinds and maybe chat with an insurance whiz to figure out which one fits your life just right.
How does having health issues play into getting life insurance at 51 to 53?
So, if you’ve got some health hiccups, it might bump up the price of your life insurance. The insurance folks will peek into your past health and how you’re doing now. Got ongoing health stuff? There are plans out there made for people just like you. Oh, and always be straight-up about your health when signing up – honesty’s the best policy to make sure everything works out.
Is grabbing life insurance still a thing if you’re over 50?
Absolutely, getting life insurance over the big 5-0 is totally doable. There’s a bunch of plans designed especially for the over-50 crowd. Sure, it might hit your wallet a bit harder than for the younger folks, but you can definitely find something that won’t break the bank.
What’s the deal with estate planning and life insurance at this age?
When you hit your early 50s, it’s pretty key to think about how life insurance fits into your estate planning. This kind of planning is all about making sure your family’s set and your belongings are sorted out when you’re not around. It can even help with those pesky taxes. Getting some advice from folks who know their stuff about estates and insurance can really help you make smart moves with your life insurance.
Do life insurance costs change when you’re in the 50-53 zone?
In the world of life insurance, your age can definitely change the price tag if you don’t lock into the rates. So for those of us hitting the 50 to 53 mark, it might cost a bit more than for the younger crowd. Other things like how healthy you are, your lifestyle, the type of insurance you choose, and how much coverage you want also play a part in setting the price. A pro tip? We Shop around and compare what different companies offer to find the best deal for where you’re at in life.
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Conclusion
Life insurance is a complicated topic. It can be hard to keep up with the changes that come from life events and new research, so it’s understandable if you feel overwhelmed.
Luckily for 51-year olds looking at life insurance policies, our team of experts are here to help! We’ll work closely with you to make sure your needs are met in order for you to get the best rates available on an affordable plan that fits your lifestyle, budget and goals.
As always we’re happy answer any questions or concerns you may have about this process – just give us a call today!
