Average Cost Of Life Insurance For Men and Women 65 And Over

Even if you are a man or woman age 65 or older, obtaining life insurance coverage is possible and can still be affordable. Depending on your health status and lifestyle, you may be able to get low cost rates on a term life or whole life insurance policy.

Over 65 man and womanIf you are sixty five years of age or over, your best choice is to go with a 10 year term or 15 year level term insurance policy.

As you can understand, obtaining a 30 year term policy at your age might not be possible, or you won't be able to afford it.

Choose an amount for your life insurance policy:

Examples of Life Insurance Costs For Those Over Sixty Five

You may be wondering how much does a typical policy cost for a senior - here are some examples of average level term life insurance premiums for those over sixty five years of age. Some of the options are still somewhat cheap.

Shown: Monthly insurance premiums for a 10 year term policy for a non smoker woman in good health at different ages 65+.

AGE $25,000 $50,000 $100,000 $200,000 $300,000 $500,000 $1,000,000
65 year old female $36.82 $41.72 $38.35 $66.92 $81.06 $148.80 $287.23
66 year old female $39.95 $43.46 $43.57 $73.55 $87.59 $162.46 $315.23
67 year old female $45.05 $46.43 $47.87 $81.00 $93.42 $177.62 $345.71
68 year old female $49.20 $50.03 $53.42 $87.53 $100.37 $194.67 $378.85
69 yeas old female $53.46 $55.33 $58.20 $96.58 $111.47 $221.56 $428.73
70 year old female $57.53 $60.20 $68.01 $107.62 $128.68 $247.00 $480.52
71 year old female $65.43 $64.85 $75.54 $118.68 $151.48 $274.08 $532.47
72 year old female $73.32 $68.72 $85.55 $132.64 $175.00 $306.90 $597.25
73 year old female $81.25 $75.74 $95.77 $151.79 $197.62 $352.77 $688.00
74 year old female $89.22 $84.10 $108.05 $170.55 $ 224.46 $398.25 $778.94
75 year old female $97.05 $92.65 $116.23 $193.67 $256.47 $454.58 $888.55

Example rates as off 11/13/2021 - your rates will most likely vary. This is just a rough guide. The underwriting company will decide your exact rates.

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Finding The Cheapest Rates

If you shop around, most likely, you'll still be able to find an affordable life insurance policy that will cover all your needs.

Remember, by comparing many policies, you'll be able to find the cheapest rates.

As a 65 year old senior, you may still be working full time and leading a healthy life full of possibilities. If you are in good health, you should still expect many productive years ahead of you, working and saving money for your loved ones, since people are living much longer lives these days.

If you are a parent, life insurance can safeguard your loved ones from money issues in the event of your death. When you reach age sixty five and over, unfortunately, you start thinking about your own mortality and the real possibility you may not be around much longer. This is the time to think about your immediate family and their financial well being.

My customers often ask me questions like: "Can you buy life insurance after 65 years of age?"; "How much is whole life insurance for a 65 year old?" ;"Can I get life insurance over 65"; "Isn't sixty five and over too old to get life insurance?" - I tell them, NO, people nowadays can get a policy into their eighties. It all depends on your health and if you live a risky lifestyle - you smoke, drink too much, you are obese, have health issues, etc.

Ages quoted: 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75

Typical life insurance rates for a 10-year term policy, for a senior man, non-tobacco user, in fairly good health:

Age $100,000 $200,000 $300,000 $500,000
65 year old male $63.55 $123.52 $142.24 $234.75
66 year old male $71.23 $137.24 $157.42 $258.20
67 year old male $82.38 $155.35 $172.78 $283.50
68 year old male $92.75 $177.62 $191.25 $315.57
69 year old male $104.68 $203.56 $215.80 $356.35
70 year old male $116.50 $230.85 $246.45 $405.83
71 year old male $136.85 $262.85 $278.37 $462.95
72 year old male $152.45 $295.70 $317.25 $525.18
73 year old male $172.10 $337.25 $363.70 $604.55
74 year old male $194.28 $384.45 $422.42 $702.25
75 year old male $220.32 $434.20 $495.15 $821.46

Average rates as off 11/13/2021 for a senior male from 65 to 75 - your actual monthly premiums will most likely be different.

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