Term Life Insurance After age 50 [Ultimate Guide]

Quick Tip- For the fastest rates on term life insurance after age 50 call 1-888-393-9003

How to find the lowest rates for term life insurance after age 50

This article will give you tips on how to find the best term life insurance after age 50. An individual’s health of course plays a major factor in determining our life insurance rates.

And it’s no secret that finding affordable term life insurance after age 50 can be more difficult. Below you will find the tips that will help you get the lowest rates on term life insurance after age 50:

  • Tip #1– Use an independent agent that represents multiple insurance carriers. Why does this help? Because each life insurance carrier has their own criteria for determining the risk class that you qualify for. They each look at your health and lifestyle differently.  A good agent can help find those companies.
  • Tip #2 – Use an agent that has years of experience in working with carriers that specialize in certain health conditions.  You see, some carriers have a niche for underwriting certain life insurance risks. As an example, if you have high blood pressure or a heart condition one carrier may be more favorable than another carrier. If you are diabetic, then a different carrier may offer you better rates. or perhaps you race automobiles or enjoy skydiving. Only an experienced agent will know which companies do this the best.
  • Tip #3- Use an agent that you feel comfortable with sharing your medical history. Nowadays, it is simple enough to go online or call a large tele-marketing company for life insurance rates. But, are you really going to be able to have a relationship with an agent who may be there today and gone tomorrow? An agent who is just answering calls and trying to meet a sales quota? You will be sharing medical information and information about your finances. Make sure the agent you are working with is in it for the long haul? Ask about his experience and how long he has been in business.
  • Tip#4– Make your agent earn his commission. In other words, no matter where you buy a life insurance policy, an agent will get paid a commission. If you are not happy with your offer from the carrier, ask the agent to go back and fight for a better offer. Agents who have many years in the business will have no problem searching for as long as it takes.
  • Tip #5– Make sure all your medical history is current. If you have not been to the doctor in a while, you may want to have a physical check-up and be current on all medications, etc. This will save you not only time but money since the insurance underwriter will want to see current physical measurements, labs, etc. on most applications.
  • Tip #6– If you have any concerns with qualifying for coverage due to medical problems such as blood pressure, cholesterol, weight, etc. Get this under control before applying for coverage. Also, ask your agent what the qualifications are for something that you feel may be borderline. For example, if your cholesterol is high, know what the life insurance company needs for you to qualify at the best rate. Again, this is communication you should have with your agent before applying.
  • Tip #7– Tell your agent what your goals are for the coverage. As an example, if you have a need for $250,000 of protection until the kids get out of college or the mortgage is paid off, make the agent aware. There may be a way to ladder the protection that will help lower the premiums.
  • Tip#8–  Will your beneficiaries need the full lump sum payment at death.? If not, you may be able to lock in a lower premium if you are willing to take payouts. For instance, perhaps $50,000 for 5 years instead of the full $250,000. Make your agent aware of your needs.
  • Tip #9– Do you want a conversion option? (More details below on conversion) When buying term life insurance after the age of 50 you will want to consider your options for continuing the policy after the initial term period has expired. The conversion option allows you to possibly continue coverage with no medical requirements. If you don’t want this option, let your agent know. This could save you money.
  • Tip#10– Make sure you buy what you want. When buying term life insurance today, most plans offer a policy with guaranteed level rates for a period of 10, 15, 20 years or longer. Make sure you purchase the plan to cover your needs. You don’t want to come back 10 years later and have to buy an additional policy because you made a mistake. Now, you are ten years older and rates will be much higher.

Types of term life insurance after age 50  Term life insurance after age 50

  1. Guaranteed 10 year level term– This policy will lock in a guaranteed level premium for 10 years. Once the 10 year period has expired, the policy will then adjust higher each year moving forward. Often used to cover short term needs.
  2. Guaranteed 15 year level term– This policy will lock in a guaranteed level premium for 15 years. Once the 15 year period has expired, the policy will then adjust higher each year moving forward. Used to cover short to medium term needs. Perhaps until a mortgage is paid off or kids are out of school.
  3. Guaranteed 20 year level term– This policy will lock in a guaranteed level premium for 20 years. Once the 20 year period has expired, the policy will then adjust higher each year moving forward. Used to cover more long term needs. This policy is often time only issued up to age 60, 65 or 70 depending on the carrier.
  4. Guaranteed 25 year level term- This policy will lock in a guaranteed level premium for 25 years. Once the 25 year period has expired, the policy will then adjust higher each year moving forward. Used to cover more long term needs. Not too many 25 year term policies are offered in the industry, so can sometimes be tough to qualify for. Age of issue most also be considered since most offer only to 55.
  5. Guaranteed 30 year level term– This policy will lock in a guaranteed level premium for 30 years. Once the 30 year period has expired, the rates will adjust upward each year moving forward. This policy max issue age is often age 50.

Underwriting term life insurance after age 50

Okay, so we have gone over some of the tips you need to use in order to find the lowest term life insurance after age 50. Now, let’s look at a few common health conditions and if they are insurable.

  • High Blood Pressure– very common. With good control and no other major problems many carriers can issue a preferred risk class.
  • Diabetes– Another common condition that we see. Type 1 diabetes can often times be difficult to find affordable coverage, but it is possible. Type 2 diabetes is very insurable with good control.
  • Heart Disease this can cover a wide range from by-pass surgery to valve replacement. There are companies that specialize in underwriting these conditions. Definitely worth talking to an underwriter about.
  • Cancer Again, another condition that has many aspects. Finding life insurance after a cancer depends heavily on the time that has passed, the grade or size of the tumor and the treatment needed. We find many carriers that underwrite this condition aggressively.
  • Barrett’s Esophagus– can be a pre-cursor to cancer, but if mild or being treating then good possibility of being insured.

Again, it is important to note that each life insurance carrier has their own guidelines an underwriting criteria. It is important to find the one carrier that will underwriter your situation the most favorably.

Conversion of term life insurance policy

As mentioned above, the conversion option of a term life insurance policy can be very valuable. Most people are unaware of this option.

The conversion option is offered on most (but not all) term life policies. This option allows you at any time up to the age the conversion option expires (typically 65 or 70) to convert any portion of your current term death benefit protection to a permanent death benefit plan. Why is this important?

When you purchase a term policy you typically have plans to only have the coverage for a limited number of years. Perhaps 10 or 15 years. But, what if something changes and you need coverage longer than expected. And what if during the time you are holding the policy you become sick or diagnosed with cancer or heart disease and cannot qualify for coverage elsewhere. This is where the conversion option helps. You can convert a portion or all of your plan to a permanent plan of coverage (whole life) without any proof of medical insurabilty. This can be a life saver if for whatever reason you need the coverage longer than you originally thought.

It is vital to get the conversion information on the policy you are considering up front before you purchase a term plan. I have seen many times over my 30 years of where the conversion option has been used when originally there was no plan on using it.


Finding affordable term life insurance after age 50 does not have to be difficult if you use the expert resources of an agent with years of expirecne and the knowledge of the marketplace.

We invite you to contact us at  1-888393-9003 or mike@specialriskterm.com for a free consultation. You will speak directly with the owner of the agency and get an immediate response to your particular situation. Thank you for taking the time to read this blog.

For a FREE quote

Call, text, email or fill out our instant quote form:

Call: 678-207-8160
Text: 678-207-8160
Email: mike@specialriskterm.com
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How can I help?

Mike Raines

I am an independent life insurance agent with over 30 years’ experience. I am an expert in finding coverage for those with past or current medical history such as heart disease, diabetes, post cancer, etc. I also specialize in those that participate in scuba diving, mountain climbing, private pilots, etc. I work with the best life insurance companies in the nation, such as Prudential, AIG, Protective Life, Transamerica to name a few. Each carrier has different opinions on rates and underwriting, and it is my job to match you with the best company. To do that, I need to ask you a few questions about your health and lifestyle to qualify you.

For a FREE quote, call, text or email:

Call: 678-207-8160

Text: 678-207-8160

Email: mike@specialriskterm.com

Mailing Address:
3482 Keith Bridge Road Suite #125
Cumming, GA 30041


Best rates and best service I have ever received.

- Robert from Kennesaw, GA.

Mike did an outstanding job getting me my coverage. He went above and beyond answering all my questions. He always returned my calls immediately even on the weekends!!! I highly recommend him.

- Aileen from Woodstock, GA.

Mike and his team did an extra ordinary job of handling my life insurance situation.  I was unable to secure life insurance because I had cancer 17 years ago however Mike and his team navigated through the challenges to get me a 15 year policy at great monthly rates. Thank you Mike for all your work in in this challenging situation.

- Nathan S. from St. Paul, MN.

As part of the process of buying a new business, I needed life insurance. However, my congenital heart defect made agents squirm over the phone. Then I found Mike, who not only understood my situation, but found two solutions for me. Within a week, I had confirmation of an AD&D policy and a Term Life policy…all at very reasonable rates. The sense of relief can’t be underestimated. Thank you, Mike!

- Heather G. From Crestview, Fl.

Mike and his team made the entire process from start to finish very seamless and also overcame the task with us being multiple states apart with ease. With the easy process and very competitive priced insurance for high risk athletes, you have no need to look anywhere else for coverage. Thanks to Mike and his team for all they did and I highly recommend them for your Special Risk Life Insurance needs.

- Tyler C. from Danville, VT.

As someone with a past cancer diagnosis, finding life insurance had been a huge annoyance. Mike made it easy, and somehow found quotes that were significantly more affordable than what others gave me.

- Matthew from St. Louis, MO.

Mike was extremely helpful in locating a life insurance company that would accept a preexisting condition at a reasonable price. He saved time by submitting health records to several companies for a quick preview then following up with the one who offered the most reasonable premium. He knows which companies are most likely to accept certain conditions. Throughout the application process Mike was very quick to respond to e mails and phone calls. We highly recommend Mike if you need life insurance and have a preexisting condition.

- Henry R. from Springfield, TN.

It’s not easy to find life insurance with a chronic condition such as crohn’s disease which is why I greatly appreciated having Mike on my team. Mike is responsive, patient, professional and indefatigable- all things you need when you’re looking for a competitive policy. Knowing my family will be taken care is not only a relief but a huge confidence boost and I’m thankful Mike works in the special risk insurance arena. I would absolutely work with him again. Thank you Mike!

- Bobby from Washington D.C.

I could not be happier working with Mike Raines to get life insurance coverage for myself after having been declined for health reasons by my employer. My wife and I just had a son and it had become more imperative than ever that my family be protected if I were to pass away. The health screening appointment was conducted at my home around my schedule, which was very convenient. It was clear to me that Mike went above and beyond to make sure the underwriter fully understood my situation, going to bat for me so that I would not be declined again. I am a very happy customer.

- Daniel S. from Seaside, CA.

Mike did an awesome job in finding affordable coverage for myself and my husband. Highly recommend his services.

- Shannon from Atlanta, GA.
About SpecialRiskTerm.com
About SpecialRiskTerm.com

We work with individuals across the nation to secure the best life insurance rates.

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