Best Life Insurance Options for 53 Year Olds

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life insurance quotes for 53 year old male

Life insurance is one of the best investments that you will ever make for the future of your loved ones. It’s one of the few ways that you can guarantee that your family has the money that they need, even if something tragic were to happen to you. When you’re shopping for life insurance coverage, the insurance company is going to look at dozens and dozens of factors to determine how much they are going to charge you for insurance protection.

A common misconception for 53 year olds in the market for life insurance is that rates increase a lot once you hit 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.  Run an instant life insurance quote on our website to see how inexpensive term life 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.

The reality is, your life insurance rates are based upon your current health and the older you get the more likely you are to have health problems which will make your life insurance rates higher.

Also, many people take out life insurance to supplement their income and protect their families if anything unexpected were to happen to them. If your family has any sort of financial dependence on you, you’re rolling the dice.  You’ll be leaving them in a poor financial situation if something were to happen to you and you don’t have a life insurance policy in place.

Tomorrow is promised to no one. You never know what life is going to throw at you tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance coverage, then your family would be left with a massive amount of debt or other final expenses.

Cheap Term Life Insurance Quotes for 53 Year Olds

In order to get you started, we have prepared the table below which is full of sample rates to give you an idea of approximately how much life insurance should cost. Keep in mind that these are just sample rates and while fairly accurate, are not completely current. To find up-to-date rates please use our free tool or contact one of our agents.

Also, the rates below are for NON-SMOKERS. If you do smoke, expect the rates to be double.

Term life insurance for a 53 year old male “Preferred” health class (no or 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

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

                        $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

Term life insurance for a 53 year old female “Preferred” health class (no or minor health issues), monthly rates:

                        $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

How to Find the Cheapest Life Insurance for 53 Year Olds

We know that cost is one of the most important factors in people taking out a life insurance policy. That is why we always recommend people to work with an independent life insurance agency to help them find the best rates possible.
We represent over 60 life insurance companies and we don’t ever play favorites with the ones we give business to. Instead we are much more concerned with getting you a good rate.

If your health is in good condition that we recommend you use the free online tools we offer on our website. All you need to do is input a few small pieces of information and submit and you will have a quote back to you in under a minute. These are direct quotes from the life insurance agencies themselves.

If you have any health issues though we will need to speak to you to figure out what your condition is like. Since each life insurance company assesses perceived risk in a different way, we will need to contact all of them individually to find the one that is right for you.

Don’t worry though, we do this every day so we are guaranteed to get you the best rate possible.

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 the cost of your burial and other final expenses?

Also think about the term length. How long will you need? 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 life insurance until they retire but also keep another burial insurance policy.

An example of this is a 53-year-old person taking out 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

Most people in their 50s find that whole life insurance can be quite expensive but if they are just looking to cover the cost of their funeral and other final expenses things can be quite cheap. Most people take out a policy for $10,000 – $25,000 and it doesn’t require a medical exam and the payments will stay the same for long as you are alive.

If you are simply looking for the cheapest amount of life insurance that will never expire, you should look into guaranteed universal life insurance. It might be more expensive than term coverage but it is permanent so you will sleep much better at night.  You run quotes on our website for this type of policy as well.

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.

Bottom Line

Don’t worry, we definitely understand your need to save money. That is why we urge you to contact one of our life-insurance agents who can help you find the best deal possible.

Every insurance company is different, and all of them are going to offer you different rates depending on which company that you contact. Every company has different medical underwriting and rating systems that they use. Finding the perfect company for you could be the difference in getting an affordable policy or getting one that breaks your bank every month.

If you have a pre-existing health condition, some insurance companies are going to give you drastically higher premiums, or even decline you for coverage, while other companies are going to give you affordable coverage. Instead of wasting hours and hours calling different companies, let one of our independent insurance brokers do all of the hard work for you. We work with dozens and dozens of highly rated companies across the country. Our independent agents have years and years of experience working with all types of clients and we can save you both time and money on your life insurance policy.

We know this is a lot of information so if there’s anything you don’t understand please just contact us, because we are here to help. Also don’t forget to start by using our free online quote calculator.

If you have any questions about life insurance protection or ways that you can get lower premiums, please contact one of our agents today. We would love to answer those questions and connect you with the perfect plan for you and your family. You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the protection that your family needs.

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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