Best Life Insurance Options for 51 Year Olds

Life Insurance For 51 year old maleThis post is dedicated in the memory of James Gandolfini (star of the Sopranos), who passed away from an apparent heart attack at 51 years old.

As we learn every day, tomorrow is promised to no one whether you’re 21 years old or 51 year old.

Many people over 50 looking to buy life insurance think life insurance is ridiculously expensive.

The truth is, YES your life insurance rates increase with every year that passes, but they increase just the same for every other age band.

Take a second to compare life insurance quotes for a 51 year old person. You’ll see it’s not that much different from 1 year ago.

Does that mean you should wait to buy life insurance?

Heck no! The biggest mistake 51 year old people make is putting life insurance on the back burner to save money for a few years.

First of all, the rates are determined by your health and as you get older more health issues come up and when you factor that in with your age, it can get cost prohibitive. There are dozens and dozens of ways that you can get cheaper insurance protection. Don’t let your age keep you from getting affordable life insurance.

Secondly, the biggest reason 51 year olds buy life insurance is to replace their income during these critical income earning years. Your family has some sort of financial dependence on you, right? The risk of leaving your family in a poor financial situation. Don’t delay protecting your family.

Cheap Term Life Insurance Quotes for 51 Year Olds

Here are some sample quotes. Keep in mind, life insurance rates fluctuate so use our instant quote tool to view the most updated life insurance rates.

These are non-smokers rates. If you’re a smoker, your rates are typically double these rates.

Here are some quotes for a 51-year-old man who is in excellent health with no pre-existing conditions:

$50,000   $100,000   $250,000   $500,000  $1,000,000
10 year term         $14           $17           $34            $61             $113
15 year term         $18           $23           $44            $83             $160
20 year term         $20           $29           $55            $103           $199

These are rates for the same applicant, but instead, he is placed in the “Standard” health class:

$50,000   $100,000  $250,000  $500,000   $1,000,000
10 year term         $19           $23          $49           $92              $177
15 year term         $23           $31          $67           $129            $238
20 year term         $28           $41          $87           $167            $323

Women get cheaper life insurance coverage. Here are premium quotes for a 51 year old women who is put the preferred health class:

$50,000  $100,000  $250,000   $500,000  $1,000,000
10 year term         $12          $14          $27           $49               $87
15 year term         $14          $17          $32           $58               $108
20 year term         $17          $21          $42           $77               $144

Term life insurance for a 51 year old female “Standard” health class:

$50,000  $100,000  $250,000   $500,000   $1,000,000
10 year term         $17         $17           $34            $61              $117
15 year term         $19         $24           $50            $95              $175
20 year term         $22         $30           $67            $124            $233

How To Save Money on Your Life Insurance for 51 Year Olds

Money is the driving force is just about every purchase. Buying life insurance is no different. Because every applicant is different, how are you supposed to know which carrier will give you the cheapest coverage?

Finding the perfect company is the difference in getting an affordable life insurance plan or getting one that’s going to break your bank every month.

Because there are hundreds and hundreds of insurance companies on the market, you could spend weeks calling different agents. This is what makes us so valuable. We can cut that time down to a fraction.

At Rootfin, we work with more than 60 insurance carriers and don’t play “favorites” to any specific life insurance company. Whoever will offer the lowest life insurance rates is the company we’ll recommend.

If you don’t have any health issues or even controlled minor health issues like controlled high blood pressure or cholesterol, compare life insurance quotes using our instant life insurance quoter. These are current and accurate rates provided from the life insurance companies themselves.

If you have a health problem, or you’re not in the best shape, we will need to talk to you about your specific condition to ensure you’ve got the best plan.

We do this for our clients all day long. We’re dedicated to making sure you have the lowest life insurance rates possible.

Another way that you can save money is to quit the tobacco. If you smoke, then you should expect much higher rates. If you want to save thousands of dollars, kicking those bad habits is going to be one of the best ways to do that.

May the BEST quote win!

Compare life insurance rates within 1 minute

Choosing The Best Life Insurance Policy at Age 51

Ask yourself what’s prompted you to search online for life insurance. Is it to not leave a burden behind if your family lost your income? Is it to cover burial or final debts?  Or are you buying life insurance for your parents?  These questions should lead you to the amount of coverage you need.

Let’s talk about the length of coverage. All term plants aren’t the same. To know how long you need coverage, you need to know why you’re buying life insurance.

Are you buying coverage to pay off a mortgage? To replace your salary? The needs are going to dictate how long you need life insurance.

For example: You may buy a 15 year term policy that gets you to age 66 and when that expires, you’ll have the burial/final expense policy in place that will be cheap since you bought it so early.

For most 51 year olds, it’s about working within a budget. We understand that. We’ll find something within your budget that won’t stress you out.

Two Other Types of Policies To Consider

Many 51 year olds will buy a $10,000, $15,000 or even a $25,000 whole life insurance policy which requires no medical exam required and the payments are guaranteed level as long as you have the plan!

If you’re looking for the cheapest insurance that doesn’t expire, “Guaranteed Universal Life Insurance” is the best choice for 51 year olds. It’s more expensive than term coverage, but if you have permanent needs – this product will be your best option.

With either of these types of policies we recommend getting them as soon as possible, because the rates go up as you age.  For instance a person who is 58 and looking for permanent life insurance will pay significantly more than a 51 year old.

Every applicant is different, and not every family needs the same type of life insurance coverage. There is no “one plan that fits all,” and you will need to compare every type of policy available. If you’re looking for the most affordable plan available, then a term policy is best. If you don’t want to worry about having to apply in the future, then a permanent type of coverage is going to be a better option.

Bottom Line

We understand that life insurance at 51 years of age needs to affordable. Your best bet is to seek an independent life insurance agency (like us!) who can compare ALL your options. . We’re all licensed and experienced life insurance agents here. And don’t forget to compare rates on our website!

We can help you compare more than 60 companies and all the plans. There is no better way to shop for life insurance than working with an independent broker. Why spend time shopping for coverage when you don’t have to.


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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