Years back if you were over 50 years of age, getting life insurance was difficult and expensive.
This is no longer the case. There are a number of companies offering very affordable rates on term life insurance for men and women over fifty.
Life insurance rates for people over 50 are set for every five-year span. Cheapest rates are offered to those who are between the ages of 50 and 55. The next rate levels cover those 55 to 60 and so on.
Term life insurance for people over 50+ (fifty) rarely covers suicide in the first two years that the policy is owned. Some policies will not cover suicide ever. You cannot be denied a life insurance policy in most cases.
While the rates may be higher if you have had cancer, heart disease or other concerning health issues, most states require insurance companies to offer everyone some form of coverage, so if you are looking for a life ins. policy, you should be able to get some kind of coverage.
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You will find that typical premiums for people after 50 range from $20 a month for a $15,000 policy, to $70 for a $50,000 policy. See more price examples here.
Term life insurance rates are generally cheaper than other permanent types like, universal and whole life.
The last thing you will want to do is leave your spouse, significant other, or children with no money to pay for your funeral. This is why some sort of life insurance coverage is a must-have.
AARP is perhaps the largest of these companies. AARP offers memberships for $16.00 per year. The membership is for both the person who is 50 and his or her spouse or partner.
Membership with AARP offers many benefits including discounted policies for term life insurance for people over 50, automobile insurance, homeowner’s insurance, and even travel discounts. AARP also offers masses of information on common problems and situations that middle-aged people experience.
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Here are some examples of term life insurance policies for those 50 years old and over. These rate examples are just a guide and most likely are not the rates you’ll get. As you can see, they are very affordable. To get your own rates, please go here.
Shown: Average monthly costs for a 10 year level term policy for a non smoker woman in good health.