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Best Life Insurance For People Over 50

3 min read

By Clarissa Vanner

Life insurance is a vital financial tool, especially as we grow older and consider the financial well-being of our loved ones. If you’re over 50, start a search today to find the best life insurance policy.

The Benefits of Life Insurance for Seniors

Life insurance offers numerous advantages for those over 50. It provides financial security and peace of mind, ensuring that your loved ones are taken care of even after you’re gone. Life insurance can help cover funeral expenses, and outstanding debts, and provide an inheritance for your heirs. Additionally, it can assist in estate planning, leaving a legacy for your family.

Best Life Insurance For People Over 50

When it comes to finding the best life insurance policy for individuals over 50, there are several reputable options to consider. Let’s take a closer look at some of these insurance providers and their unique benefits.

Lincoln Financial

Lincoln Financial offers low rates for term life insurance buyers over 50. Their policies are known for being cost-competitive and accompanied by reliable policy illustrations.

For couples looking into estate planning, Lincoln Financial’s survivorship policies are worth considering. These policies insure two lives under one policy and pay out when both individuals have passed away, providing financial support for estate taxes and other obligations.


Protective’s universal life insurance policies offer competitive internal policy costs, allowing more of your premium to accumulate as cash value. Their superior performance in bond and mortgage investments is a plus. For those over 50 seeking term life insurance, Protective’s Classic Choice policy offers low rates.


Nationwide also stands out as a top choice for life insurance for applicants over 50. Their policies often include three living benefit riders at no additional cost, allowing you to access the death benefit early in specific situations.

Nationwide ranks highly in customer satisfaction and has an A+ financial strength rating from AM Best. They offer a wide range of policy types, although there are some age limits for term coverage, making it important to consider your specific needs.


Guardian boasts an impressive A++ financial strength rating from AM Best, indicating their strong ability to honor insurance obligations. They pay dividends and have made substantial payments to eligible policyholders.

Guardian offers well-priced term coverage for those in their 50s and even policies for individuals up to 90 years old. However, their website may not provide all the details you need, so contacting an agent may be necessary.

Mutual of Omaha

Mutual of Omaha excels as the overall winner for burial insurance. Burial insurance is a type of whole-life policy designed for older applicants, typically aged 45 to 85. It covers immediate expenses after death, such as funeral costs and bills.

Mutual of Omaha offers two types of final expense policies, including a guaranteed-issue plan and one with a few health questions. Both options provide coverage up to $40,000, and the policies include unique benefits like a terminal illness rider and no graded death benefit period.

How to Find the Best Life Insurance Policy

The options listed above are an excellent starting point but there are many other insurance companies to consider. Finding the right one for you simply requires a bit of research, which you can do online. When searching for the best life insurance policy, consider the following tips:

  • Assess Your Needs: Determine how much coverage you need and for how long. This depends on your financial obligations, such as mortgage payments, outstanding debts, and your family’s financial goals.
  • Shop Around: Obtain quotes from multiple insurance providers to compare rates and benefits. Don’t settle for the first option you come across.
  • Consider Term vs. Whole Life: Understand the difference between term and whole life insurance and choose the one that aligns with your financial objectives.
  • Evaluate Riders: Look into optional riders like living benefits or terminal illness riders that can provide added protection and flexibility.
  • Review Financial Strength: Check the financial strength rating of the insurance company to ensure they can fulfill their obligations in the future.
  • Seek Professional Advice: Consult with a financial advisor or insurance agent who specializes in life insurance for seniors to get personalized guidance.

Start Your Search Today

Life insurance for individuals over 50 is a critical financial decision. It offers security, peace of mind, and a legacy for your loved ones. The options listed above, including Lincoln Financial, Protective, Nationwide, Guardian, and Mutual of Omaha, provide excellent choices to consider. But don’t forget there are many other companies available. To secure your future and your family’s financial well-being, start your search today and find the best life insurance policy that suits your needs.

Junior Managing Editor

Clarissa is the Junior Managing Editor of ActiveBeat. She aspires to live a healthy lifestyle by staying active and eating foods that nourish her body, but she isn't afraid to indulge in a little chocolate here and there! Clarissa loves cooking, being outdoors, and spending time with her dog. In her free time, you'll find her relaxing in her hammock or curled up on the couch reading a book.



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