The Best Over 50s Life Insurance: A Guide to Protecting Your Future

Shawn Plummer

CEO, The Annuity Expert

As you get older, life insurance is more important than ever. If something happens and you can no longer provide for yourself, your loved ones will need financial assistance. That’s where over 50s life insurance comes in. This guide will discuss the different types of coverage available and how to find the best policy for your needs.

The Importance of Life Insurance for People Aged 50 and Over.

If something terrible happens and you can no longer provide for your family, life insurance will ensure that they are taken care of financially. Too many Americans have not made this critical step toward protecting their loved ones.

If you are 50 years old or older, here are some reasons why you should consider life insurance:

  • You want to do everything possible to provide for your children or grandchildren.
  • You want to protect the assets you have and increase them whenever possible. A permanent life insurance policy can give you added cash value that supplements retirement income and help with estate or legacy planning – all while providing peace of mind about final expenses and debts.

Which Is Better: Whole or Term Life Insurance in Your Fifties?

There are two main types of over 50s life insurance: term life and whole life. Term life insurance is the most affordable option, but it only provides coverage for a set period of time (usually 20 or 30 years). On the other hand, whole-life insurance is more expensive, but it offers lifelong protection.

For most people in their fifties, term life insurance is the best option. It’s more affordable than whole life insurance and provides the coverage you need at this stage. If you’re healthy and don’t have any significant health concerns, you may even be able to get a policy without having to take a medical exam.

The drawback of term life insurance in your fifties is you would have to either convert to a permanent policy after the term or reapply for a new term with another life insurance company.

When choosing an over 50s life insurance policy, you must consider your needs and budget. There are many different insurers, so compare policies before making a decision.

Life Insurance For Over 50, No Medical Exam Required

For people over 50, term life insurance without a medical exam can be a great way to get coverage without having to undergo a physical examination.

Life Insurance No Exam
No Medical Exam Life Insurance

the best life insurance for Ages 50 And Up

The best policy type will depend on your individual needs and circumstances.

  • Term life insurance options are often the most affordable but do not build cash value; coverage ends after a set period.
  • Whole life insurance policies are more expensive, but it provides lifetime coverage and builds cash value that can be used in retirement.
  • Universal life insurance is a flexible policy that can be customized to meet your needs and build cash value.
  • Final expense insurance is a type of permanent life insurance designed to cover funeral and burial costs.
  • Mortgage protection insurance products are term life insurance policies designed to pay off your mortgage in the event of your death.
  • Simplified issue life insurance is a policy that does not require a medical exam and is typically available to healthy people.
  • Guaranteed-issue life insurance is available to everyone, regardless of health, and does not require a medical exam.
  • College savings plans help you save for your child’s education.

Compare Quotes For People Over 50 Wanting Life Insurance

Use our free calculator to compare quotes. Then fill out the form to apply for coverage.

Next Steps

When shopping for over 50s life insurance, compare quotes from multiple insurers. And make sure you understand the policy before signing on the dotted line. Then, if you have any questions, don’t hesitate to contact us.

The bottom line is this: over-50s life insurance is a vital part of financial planning for pre-retirees. It can give you and your loved one peace of mind knowing that you’re financially protected. So take the time to shop around and find the best policy for your needs. You’ll be glad you did.

Life Insurance For People Over 50

Life Insurance Quotes Over 50

Contact us if you need over 50 life insurance quotes. The service is free of charge.

Life Insurance Inquiry

Frequently Asked Questions

Who offers the best whole life insurance for over 50?

Nationwide and Protective offer the best whole life insurance policies for applicants over age 50 because their rates are affordable and the financial ratings are A+ with A.M.Best.

Who offers the best term life insurance for over 50?

Pacific Life and Banner Life offer the best term life insurance policies for applicants over age 50 because their rates are affordable, and the financial ratings are A+ with A.M.Best.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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