What to Look for in Life Insurance Over Age 50
Life Insurance
Even if you are in your 50’s, you can still apply for coverage.
It’s wise to purchase life insurance when you are young and healthy. But what if you find yourself 50 or over and simply haven’t gotten around to purchasing coverage? What about those who are aging and discover their Life insurance needs just aren’t the same as they originally were?
Life insurance is critical for those with young families who are relied upon for financial support. As people age, financial circumstances can change and eventually may diminish significantly. However, some obligations, such as final expenses, may persist. For individuals over 50, Life insurance can be an efficient way to help your loved ones manage those ongoing obligations in the event of your passing.
Term Life Insurance for Every Life Stage
Choose from a selection of Group Term Life insurance coverages for the protection your family needs.
Here are some things to consider if you’re over age 50 and are reconsidering your Life insurance needs.
- If you have dependents, would their lifestyle be impacted by your death? If you don’t have enough savings and life insurance to fund housing, education, debt payments, and other elements of your family’s day-to-day and future expenses, now is the time to secure coverage to minimize – or prevent – such a lifestyle change.
- If a family member were no longer alive, would your family’s lifestyle need to change? Make sure you would be able to maintain your lifestyle in their absence by securing life insurance for everyone in the family who contributes financially – or in other ways. Who would do all the work of a stay-at-home caregiver in that person’s absence? How would you pay the bills if an income were suddenly gone?
- Even if you don’t have dependents, would your loved ones be financially stressed by your passing? At the very least, Life insurance can be used to cover funeral costs, removing that financial burden from your family so they can focus on grieving—not funding. The average cost of a funeral is between $7,000-9,000.1 A modest $10,000 death benefit can at least cover the cost of a funeral.
Bonus tip: Try CALC, our free to use Life insurance needs calculator can help you estimate your coverage needs.
Explore Life insurance options.3
1 Average Funeral Cost by State 2026. World Population Review. worldpopulationreview.com/state-rankings/average-funeral-cost-by-state, 2026.
2 Most Americans Can’t Afford a Funeral — 58% Say They’d Go Into Debt Over The $8,300 Cost. Yahoo Finance. finance.yahoo.com/economy/articles/most-americans-cant-afford-funeral-230139947.html, April 19, 2026.
3 including features, costs, eligibility, renewability, exclusions, and limitations.
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