Best Life Insurance Options for a 54 Year Old

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Take 4 minutes to read this article and you’ll have all of the information you need to find the cheapest life insurance at age 54.

Here’s what we’ll cover (click any topics in the table below to go straight there):

Many people in their 50s believe that they are no longer eligible to get affordable life insurance because the rates spike as soon as you reach 50 years old. The truth is that yes, your rates will go up when you turn 50, 51, 52, 53 or 54, but the same is true for every year.

Want to buy life insurance? Use our instant life insurance quote tool.

The biggest reason people over 50 are buying life insurance is to protect their family during these critical income earning years in case something unexpected were to happen.

Your family is financially dependent upon you in some way, and if anything happened to you, you would risk leaving them with a financial burden.  Possibly for the rest of their lives.

Tomorrow isn’t promised to anyone.  Get this peace of mind taken care of.

Cheap Term Life Insurance Quotes for 54 Year Olds

To get you started, let’s look at some rates.

There are just guideline quotes, meaning they won’t directly reflect the quotes you’ll get. All of these quotes are for non-smokers.

Quotes for 54 year-old male – Preferred health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term       $17          $21           $42           $78            $150
15 year term       $22          $29           $58           $110          $215
20 year term       $25          $37           $72           $139          $264

54 year old male “Standard” health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term         $23         $29           $64           $121          $235
15 year term         $30         $39           $86           $167          $314
20 year term         $36         $52           $119         $227           $457

54 year old female “Preferred” health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term         $13         $17           $33           $61            $114
15 year term         $17         $21           $41           $76            $141
20 year term         $21         $26           $53           $99            $189

54 year old female “Standard” health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term         $18         $20           $42           $77            $145
15 year term         $21         $28           $61           $117          $221
20 year term         $27         $37           $82           $154          $296

How 54 Year Olds Are Saving Money on Their Life Insurance

Cost is always the biggest factors in helping people get life insurance. We have our own life insurance agents standing by ready to help you get the best rates.

We’ve partnered with over 60 different carriers and we make a point not to play favorites with which ones we give business too. We want to find you the cheapest life insurance, and that’s our only goal.

You should start by heading over to our website quoter where you can use our free life insurance quote tool to get a life insurance quote back instantly. All these rates are current and accurate and they come directly from the life insurance companies themselves.

If you have some health problems then you will need to contact our agent and let them know little bit about your individual situation. We can discuss those problems and point you in the right direction.

Choosing the Best Life Insurance Policy at Age 54


To pick the best plan, you need to know why you’re buying life insurance. Do you want a plan to give your family the money to pay off your mortgage? Is it to replace your paycheck?  This will determine how much coverage you buy.

Next, how long do you need life insurance? Until your retire or forever?

One thing many people do is buy a plan to last until they retire but also have another one in place for their burial with rates that remain the same forever. One example of this is a 54-year-old person takes out a 15 year policy which will end when they turn 69 and eventually retire. That policy will cover them for their income earning years but they will also have a burial policy in place to cover the expenses of their funeral.

We know that your budget is an issue, but some coverage is better than none. Just try to find a plan that fits your budget and is affordable so you can protect your family.

It’s important that you find the perfect life insurance plan for you and your family, but that doesn’t mean that you should a buy a life insurance plan that breaks your bank.

Two Other Types of Policies to Consider

When shopping around for protection, you should think about a no exam policy. These plans are a good option for anyone who doesn’t want to take the exam or couldn’t pass the exam. They are more expensive, but the price is worth the protection.

For others that just need smaller amount of permanent life insurance, a guaranteed universal life insurance policy is probably the best. It will be more expensive than term coverage but it lasts forever so that should give you peace of mind.

You will want to take out this type of policy before you get much older.  People who get permanent life insurance at 56 or older will tend to pay higher premiums than those who start their policy before they hit 55.

Bottom Line

We know you want to save money and that’s why we’re here to help our life insurance agents will shop around and won’t come back until they have found you the absolute best deal.

We work with dozens and dozens of the best rated insurance companies across the nation. It’s our mission to ensure that you’re getting the best rates possible. We can give you dozens of quotes, help you calculate your needs, and let you compare your options side-by-side. Why would you not work with an independent agent?

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About Jeff Root

is the owner of He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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