Best Life Insurance Options for 53 Year Olds

life insurance quotes for 53 year old male

A common misconception for 53 year olds shopping for life insurance is that rates go up a lot when you’re in your 50’s. It’s true that your life insurance will cost more as you get older, but there’s not a big jump once you hit your 50’s.

See for yourself. Do an instant life insurance quote on our website to see how cheap term insurance can be for a healthy 53 year old.  We’ll compare all the top rated life insurance companies for you.

A big mistake people look for over 50 life insurance make is waiting a few years to buy a policy hoping to save some money on premiums by waiting it out a little.

Older applicants are more likely to have health problems, which means they are riskier to the insurance company.

Many people take out life insurance to supplement their income and protect their families if anything unexpected were to happen. You might have children or a spouse who needs your paycheck. They would no longer have it.

Tomorrow is promised to no one. Go ahead and get the protection your family needs.

Term Life Insurance Quotes for 53 Year Olds


Before we look at some of the finer points of life insurance, let’s look at how much you could play for your insurance coverage.

Without knowing your health, we can’t tell you exact rates, but here are some generic quotes.

53 year old male in excellent health  (minor health issues), monthly rates:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term       $16         $20          $39            $73           $137
15 year term       $20         $27          $53            $100         $194
20 year term       $23         $35          $66            $127         $243

Here is what the same applicant would pay if they were put in the Standard rate:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term       $22         $26           $58            $109         $211
15 year term       $29         $36           $79            $153         $286
20 year term       $33         $48           $107          $208         $401

Monthly quote for a 53 year old female “Preferred” health class:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term       $13         $16           $31            $57           $104
15 year term       $16         $19           $38            $71           $129
20 year term       $20         $24           $49            $90           $178

Term life insurance for a 53 year old female “Standard” health class (controlled health issues), monthly rates:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term      $17         $19            $39           $71            $135
15 year term      $20         $26            $58           $108          $202
20 year term      $25         $35            $76           $143          $276

Cheap Life Insurance for 53 Year Olds


Are you happy with those example quotes? You can probably fit the monthly payment in your budget. Before you run out to buy a plan, you should know you might be getting those rates.
There are so many variables in the life insurance quote process, we have no way of telling you exactly what you’re going to pay. Thankfully, there are some things you can do to cut down your rates.

All of these things aren’t going to be easy. If you want to save money, it’s time to get a sweat going. Lace up the running shoes and hit the roads. Exercise is not only good for your heart, but it’s great for your wallet as well. The insurance company will be glad to know you’re taking care of yourself.

An easy way to save money is to give us a call. Sound too good to be true? It’s not!

We’re very different from your average life insurance company. Your typical agent works with one company. They are an employee of that carrier. We don’t work the same way.
We are independent agents, which means we aren’t employees of one company. We can deliver a whole handful of quotes to you instantly.

Because every carrier is different, they will all give you different quotes. Some companies charge drastically more than others. Sure, you can gather quotes alone, or you can make a call to us.

Choosing the Best Life Insurance Policy at Age 53

You can begin by asking yourself what is the purpose of you taking out this life insurance policy. Is it to supplement your income or pay off any debts you may still have when you pass? Or is it the cover final expenses?

Also think about the term length. Some people have a policy to last until they retire while others have a policy that lasts until the day they pass.

Something many people do is buy insurance until they retire and keep another burial insurance policy.

An example of this is a 53-year-old person buying a 15 year policy that would expire when they turn 68 and retire but they will still have the burial policy in place which will be very inexpensive since they bought it early and the rates will stay the same for the rest of their life.

We know most people are on a budget but we always say that it is better to have some coverage than no coverage at all. Try to find an affordable plan that’s within your budget but will still help your family.

Two Other Types of Policies to Consider


Let’s look at the two main categories of life insurance. Another key choice you’ll have to make is the type of plan. You need to pick between a whole life plan or a term insurance policy.

Some people want to get coverage until the day they pass away. This is why whole life insurance is popular. It never expires.

If you are looking at permanent life insurance you will want to get it before you hit 55.  Permanent life insurance policies for 55 year olds are more expensive than those for people under that age.

Most people want the cheapest coverage possible. Then term is the product for them. Term life insurance gives you the most bang for your life insurance buck. They will expire, but they are much more affordable.

Rootfin Insurance

Do you still have questions about life insurance? Let us know. Don’t be afraid to reach out to us and let us know about your concerns about your protection.

As an independent agency, we have your best interests at heart. We are not going to try and sell you expensive insurance you don’t need.

Not only can we bring you a bunch of quotes at once, but we can also give you advice on which plan to buy and how much coverage.


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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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