Best Life Insurance at 68 Years Old – Free Quote & Approvals

Quick Tip:  Complete the form on the right and get an instant, free quote on the next screen.

Is life insurance at age 68 affordable?

We get this question all the time from senior citizens who think that life insurance is not affordable for them at their current age. This is unfortunate though because it can actually be quite inexpensive to obtain life insurance depending upon the policy and your risk.

Our best advice for anyone to start looking for life insurance is to use our free online quote tool offered on the side or for a ballpark figure, see the sample rates we list below.

Term Life Insurance Quotes for 68 Year Olds

To get you started, we have prepared a group of sample quotes for you to look over. While these quotes are fairly accurate please keep in mind that they are samples. This is because rates can fluctuate and to get the best, up-to-the-minute rates your best bet is to use our free quote calculator.

If you smoke, your rates are going to be much higher.

Term life insurance for a 68 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               $64         $79           $182          $317           $667
15 year term               $84         $121         $247          $475           $913
20 year term               $182       $171         $386          $761           $1513

Term life insurance for a 68 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               $74         $102         $241          $465          $923
15 year term               $103       $169         $379          $753          $1393
20 year term               $182       $239         $546          $1080        $2133

Term life insurance for a 68 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              $42           $47           $112        $180            $355
15 year term              $51           $67           $139        $270            $519
20 year term              $182         $95           $226        $423            $839

Term life insurance for a 68 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               $44          $65          $114          $221         $436
15 year term               $72          $108        $248          $475         $850
20 year term               $182        $154        $375          $707         $1406

The Best Place to Find Cheap Life Insurance

When looking to buy the cheapest life insurance for people over 65, your best bet is to contact one of our independent life insurance agents who can seek out the best rates from the top rated insurance companies. Once they have gathered several quotes they will contact you to help you compare the rates side-by-side.

If your health is atypical though you will need to first undergo a phone interview with the agent who will then be able to do some research on your behalf. Since every life insurance company assesses risk in a different manner they will need to contact each one individually to find the rate that is cheapest for you.

Our agents do this day in and day out though, so they will always get you the cheapest rate.

Choosing the Right Life Insurance Policy at Age 68

The first thing you need to do is ask yourself why you are taking out life insurance policy in the first place. Some people do so to supplement their income for their spouse. Others take out a policy in anticipation of still having debt when they pass. Whatever your answer to these questions might be, it will help you to figure out which sort of policy will be right for you.

As far as the term length, some people only need it until they retire while others will buy coverage until they are debt-free. Others still choose to have their life insurance extend permanently.

Well we understand that most people don’t want to buy a life insurance policy, but we feel it is much better to have some coverage than no coverage at all. You should find something affordable and within your budget that also will help out your family.

Consider Two Other Policy Options

By the time you reach the age of 68, life insurance can be quite expensive. If all you need to cover though is the cost of your funeral and other final expenses, it can actually be very affordable. Lots of people take out a policy for $10,000 – $25,000 to cover these expenses and there is no medical exam required and rates are guaranteed for the rest of your life.

“Guaranteed Universal Life” insurance can be a great way to go to for people looking for a smaller amount of life insurance that will never expire. A policy like this will give you the same premiums for the rest of your life and can give you a payout as low as $25,000 if you wish.

If you are going to go with a form of permanent insurance you should consider getting a policy as soon as possible.  Even going from getting life insurance at age 66 vs age 70 makes a large difference in the cost of the premiums.

Bottom Line

In order to secure the best rates for anyone over 60 years old, we urge you to get in contact with an independent life insurance agency with access to all the top rated insurance companies.

We know that there is a lot of information contained in here, probably too much to take in all at once. That being said if you have any questions whatsoever please do not hesitate to contact us directly. Also do not forget to use the free quote tool we offer to get up-to-the-minute quotes.

Instant Quote
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.

This entry was posted in Life Insurance In Your 60s. Bookmark the permalink.

1 Comment

Daniel Johnson

It’s great to give data examples of rates, but I also agree that in order to choose the right life insurance at 68, one needs to ask themselves the purpose of the life insurance. Only through a conversation with one (or several) licensed insurance agents can the best deal be coaxed out through conversation.

July 18, 2013 at 12:35 pm
Leave A Reply