50 Plus Life Insurance

Life insurance for people 50-years-old and older can range in cost greatly from company to company.

Insured can choose between term policies, which start off lower in cost and increase as the insured ages, and permanent policies, where the premiums are initially higher, but do not increase as the insured ages.

The following are two pricing examples for non-smoking males. One is for a 50-year-old, and the other for a 55-years-old. Let’s assume that both of these men need $100,000 in Term 10, Term 20, and 15-Pay Whole Life Coverage.

Our 50-year-old, male non-smoker would pay the following amounts depending on the insurer he chooses:

$100,000 of Term 10 coverage with BMO would cost $22.77 a month.

$100,000 of Term 20 coverage with Equitable Life would be $39.69 a month.

$100,000 of Whole Life 15-Pay (paid-up at the end of fifteen years) coverage with Union of Canada would be $179.39 a month.

Our 55-year-old, male non-smoker would pay the following amounts depending on the insurer he chooses:

$100,000 Term 10 coverage with BMO is $33.66 a month.

$100,000 Term 20 with BMO is $65.79 a month.

$100,000 of 15-Pay, Whole Life 15-Pay (paid-up at the end of fifteen years) coverage with Union of Canada, is $227.51 a month.

For more details on life insurance for insured’s 50 and older, please contact us at 1-866-899-4849 or visit our Term Life or Whole Life Insurance Instant Quote Page

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DS
DS

Chantal I am born March 16th, 1957 and looking for 10 year term insurance amount one million.
Please send me your best quote.

Thank you,

DS

LSM Insurance
LSM Insurance

Thanks DS – we will be in touch by email now.

LSM Insurance
LSM Insurance

Thanks for the note. The rates will depend on the type of plan, the insured’s smoking status and health.

Thomas
Thomas

i want to buy life insurance as i am 55 years old and living at home just for 5,000.oo as i want to extend my life insurance!

LSM Insurance
LSM Insurance

Thanks for the note. It would likely make more sense to supplement what you have rather than cancel what you have – but we would really need to see the policy to provide accurate advice.

Tim
Tim

yes i have insurance life when it was aig it only pays 6,300 i am 50 now my dob feb,10 1961 if i got life insurance 50 over will have to start over again and lose the money i already payed ito