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Are you over 50 and wondering if it’s too late to get life insurance—or if it’s even worth it? The good news is, there are still excellent life insurance options available that can offer you peace of mind, protect your loved ones, and even build long-term value.
Whether you’re planning for final expenses, leaving a legacy, or covering debts and income replacement, the right policy can provide financial security at a stage in life when stability matters most.
In this guide, we’ll walk you through the best life insurance options for people in their 50s, what you can expect to pay, and how to choose the coverage that fits your needs and budget.
- Key takeaways:
- People over 50 still have many life insurance options, including term, whole, and no medical plans tailored to different needs and budgets.
- Life insurance costs increase significantly with age, especially after 55, so the sooner you apply, the better.
- Whether it’s income replacement, covering final expenses, or estate planning, your reason for getting life insurance guides your policy choice.
Why You Need Life Insurance In Your 50s
Whether it’s your first time getting life insurance or you’re looking to replace an existing policy, there are many compelling reasons to secure life insurance in your 50s. Below are the most common motivations for obtaining life insurance over 50.
1. Loss of group life insurance
If you’ve spent decades working for an employer, you’ve likely enjoyed group life insurance as part of your benefits package. However, when you transition to self-employment, contract work, or early retirement, that group coverage disappears.
Without a personal policy, you risk being unprotected if something happens. Securing individual life insurance over 50 ensures you maintain coverage even after leaving—or losing—your employer’s group plan.
2. Debt and income protection
Even in your 50s, you may still carry significant debt—mortgage balances, car loans, lines of credit, or credit card debt. Life insurance at this age can serve as an income replacement tool, ensuring your family isn’t burdened by outstanding debts if you pass away unexpectedly.
- Mortgage payoff: With many Canadians still paying off a mortgage in their 50s, a term life policy can eliminate the balance, preventing your spouse or children from assuming that financial burden.
- Income replacement: If you’re the primary earner or contribute significantly to household finances, life insurance can replace years of lost income, protecting a stay-at-home spouse or a family with younger children.
- Co-signed debts: If you co-signed a loan or line of credit for a child’s mortgage or a family member’s business, life insurance proceeds can provide co-signers with the funds to repay the debt if you pass away.
3. Final expenses
Funeral, burial, and related costs in Canada can average $6,000 to $12,000. A small permanent life insurance policy dedicated to final expenses guarantees that your loved ones won’t need to dip into savings—or go into debt—to cover funeral arrangements, medical bills, or the cost of repatriating remains if you pass away away from home.
4. Tax-advantaged savings and wealth accumulation
For high-income and affluent individuals, life insurance in their 50s isn’t just protection—it can be a strategic savings vehicle. Whole life insurance policies build cash value on a tax-sheltered basis.
If you’ve already maximized Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) contributions—or if you’re a successful business owner with retained earnings in a private corporation facing high tax rates—using a permanent life policy can help you grow wealth more efficiently.
- Tax-sheltered growth: Cash values inside whole life insurance accumulate tax-deferred. When structured properly, you can access loans or withdrawals against that cash value without triggering immediate taxable events.
- RRSP/TFSA limits: If you’ve hit contribution limits, permanent life insurance offers an alternative place to grow assets.
- Corporate planning: Business owners can use “corporate-owned life insurance” to shelter retained earnings. Instead of investing profits in mutual funds or ETFs taxed at around 50%, purchasing a whole life policy allows the corporation to enjoy tax-efficient growth inside the policy.
5. Estate planning and inheritance
Life insurance after you reach age 50 is a powerful estate planning tool, whether your goal is to leave a legacy to children or grandchildren, minimize probate taxes, or make a charitable donation with minimal impact on your estate.
- Leaving a legacy: A life insurance policy can be earmarked for children or grandchildren, providing them with a tax-free inheritance that doesn’t require liquidating other assets.
- Charitable giving: By naming a charity as beneficiary, you can leave a substantial gift—then claim a charitable tax credit on your final tax return, reducing overall taxes owing.
- Estate equalization: Suppose one child inherits a family business or a vacation property. You can fund a life insurance policy that pays a benefit to your other child(ren), ensuring a fair distribution of your estate.
- Covering taxes at death:
- Capital gains tax: At your death, assets such as investments or rental properties are deemed disposed, triggering capital gains. The life insurance proceeds can cover that tax liability, ensuring your heirs aren’t forced to sell illiquid assets.
- RRSP / RRIF inclusion: RRSPs and RRIFs are fully taxable when you die (unless rolled over to a spouse). A life insurance death benefit can offset the tax hit from RRSP/RRIF inclusion, preserving more of your estate.
6. Health changes and insurability
As you age, health issues—hypertension, diabetes, heart conditions, and more—can make coverage more expensive or harder to obtain. Purchasing life insurance in your early 50s “locks in” your insurability while premiums are still favourable. Once you own the policy, the insurance company can’t increase the premiums, even if your health declines.
If you wait until you’re 60 or 65, a new diagnosis could disqualify you from getting life insurance at reasonable rates.
7. Business continuation and buy-sell agreements
When you’re in your 50s and actively involved in running a business—whether as a founder, partner, or key executive—planning for an orderly transition of ownership becomes critical.
Life insurance can serve as the financial backbone of a buy-sell agreement, ensuring that your business partners or heirs have the funds in place to purchase your share when you retire, become incapacitated, or pass away.
At the same time, securing a policy on a key person helps stabilize operations and maintain creditor confidence if a pivotal team member is suddenly no longer available.
8. Replacing an existing term life insurance policy
Another key reason to consider life insurance at this age is if you’re nearing the end of a term policy you bought in your 20s or 30s. Many people purchased 20, 25, or 30-year term policies when they were younger, and those terms often expire in their 50s.
When your policy renews, the premium jumps significantly—anywhere from 3 to 15 times what you were paying. If you’re still in good health and still need coverage, getting a brand-new policy can be much more affordable than simply renewing the old one at higher rates.
Additionally, your needs may have evolved over time. You might now require permanent insurance instead of term. If your current policy includes a convertibility option, you may be able to convert it to permanent insurance without providing evidence of good health. This can be a valuable lifeline if your health has declined, helping you secure lifelong coverage that would otherwise be more difficult or expensive to obtain through medical underwriting.
Understanding Life Insurance Options In Your 50s
With so many different needs for life insurance when you’re in your 50s, you have a wide range of policy types to choose from. Below, you’ll find the most common life insurance options in your 50s—each suited for specific situations.
Term life insurance
Term life insurance is often the most cost-effective way to protect your family’s financial security and cover debt obligations. In your 50s, you can choose a term length anywhere from 5 to 35 years, depending on how long you need coverage.
During the term, both your premium and death benefit are guaranteed—even if your health declines. Once the term ends, you can renew at a higher rate, although premiums will jump substantially due to age. That’s why it’s crucial to match the term length to your financial obligations.
Most insurers let you choose a term that goes up to age 85—so at 55, you could opt for a 30-year term. While a longer term increases the chance of a payout, a shorter term is more affordable and often better suits your needs.
Debt and income protection: If you have 10 years left on your mortgage and plan to retire at 60, a 10-year term policy provides coverage exactly until your mortgage is paid off. For parents with younger children, a 20- or 25-year term may be more appropriate, ensuring income replacement until your children reach adulthood.
Business purposes: Business owners can use term life insurance to cover loans, provide financial relief if a key employee passes away, or fund a buy-sell agreement.
Flexibility and cancellation: You’re not locked into the full term. If your circumstances change—say you pay off your mortgage early or no longer have dependents—you can cancel the policy without penalties.
Choosing the right death benefit: Match the face amount to your outstanding debts and the income your family needs. For example, you might select a benefit that equals your mortgage balance plus five to ten years of income replacement.
Whole life insurance
Whole life insurance offers lifetime coverage, making it a popular choice for final expenses, estate preservation, and tax-advantaged savings. With level premiums and a guaranteed death benefit, whole life also accumulates cash value that you can access via policy loans or surrender.
Final expenses & permanent protection: A whole life policy ensures that funeral and burial costs are covered whenever you pass away. You don’t have to worry about coverage expiring, as you would with term insurance.
Cash-value growth (tax-sheltered): If you earn a high income or have maxed out your RRSP and TFSA, participating whole life insurance can act as an alternative savings vehicle. Dividends earned in a participating policy are often used to purchase more paid-up insurance, boosting cash value and death benefit over time. The longer you have to accumulate cash value—especially starting in your early 50s—the more growth you’ll see.
Flexible contributions: You can tailor your monthly premium to your budget or target a specific cash-value goal by a certain age. For example, paying $200 per month will yield roughly twice the cash value (and death benefit) of paying $100 per month.
Estate planning & taxes: Since whole life is permanent, it’s ideal for covering rising estate obligations, such as probate fees and income taxes on deemed dispositions (e.g., capital gains on investments and RRSP/RRIF balances).
Joint life insurance
Joint life insurance policies cover two (or more) lives under a single policy. The two main structures are:
Joint first-to-die (JFTD): Pays the death benefit when the first insured person dies. Often issued as term life insurance for couples, JFTD is common for insuring a joint debt—like a mortgage—so that when one spouse or partner passes, the survivor can use proceeds to pay off the debt without the burden of ongoing payments.
Joint last-to-die (JLTD): Also known as joint second-to-die, this policy pays out only after both insured parties have passed away. JLTD is more affordable than insuring two separate lives because the insurer doesn’t pay until both lives have ended. It’s typically structured as a whole life insurance policy and used for estate preservation for couples with children—providing liquidity to pay taxes, probate fees, or other final obligations at the second death.
No medical life insurance
If you’re over 50 and want to avoid a medical exam, no medical life insurance may be the best option—although it comes with trade-offs. There are two types of no medical life insurance: simplified issue and guaranteed issue.
Simplified issue life insurance: Requires only a health and lifestyle questionnaire (no exam). You’ll generally pay higher premiums than with fully underwritten coverage, but you benefit from faster approval if you’re in relatively good health.
Guaranteed issue life insurance: No medical questions and no exam. The premiums are highest and the death benefits are lowest, but guaranteed issue is often the only choice if you have serious health conditions. These policies typically include a two-year waiting period before the full death benefit is payable for non-accidental causes. Guaranteed issue is best suited for covering smaller final expenses like funeral costs.
Here’s a table comparing the different types of life insurance:
| Feature | Term life insurance | Whole life insurance | Simplified issue life insurance | Guaranteed issue life insurance |
|---|---|---|---|---|
| Coverage duration | Fixed period (e.g., 10, 20 years) | Lifetime coverage | Lifetime or term coverage | Lifetime coverage |
| Premiums | Lowest over the short-term | Higher than term, level for life | Higher than fully underwritten | Highest |
| Joint coverage available? | Joint first-to-die | Joint last-to-die | Both joint first-to-die and last-to-die | No |
| Medical requirements | Full medical underwriting | Full medical underwriting | No medical exam, health questions required | No medical exam, no health questions |
| Best for | Covering temporary needs like debt and income replacement until retirement | Final expenses, estate preservation, guaranteed legacy | People over 50 wanting quick approval or avoiding medical exams | People over 50 with serious health conditions who can’t qualify for other types |
| Pros | Affordable, simple, level premiums during term | Guaranteed payout, level premiums, tax-deferred cash value growth, can earn dividends | Faster approval, easier to qualify than fully underwritten | Guaranteed acceptance, instant approval |
| Cons | Premiums rise sharply after term ends, no payout if you outlive the term | Expensive, less flexibility | More expensive than fully underwritten policies, limited coverage amounts | Two-year waiting period for non-accidental death, high cost, small death benefit |
How Much Does Life Insurance In Your 50s Cost?
The cost of life insurance in your 50s depends heavily on how much health information you provide to the insurer. Fully underwritten policies—which involve a detailed review of your medical history, lifestyle, and sometimes a medical exam—are the most affordable. That’s because insurers have more data to accurately assess your risk and offer lower rates if you’re in good health.
Within fully underwritten policies, term life insurance is more affordable than whole life because it only provides coverage for a set number of years and may expire without ever paying out. It also has no cash value component. In contrast, whole life insurance is more expensive because it guarantees a death benefit payout no matter when you die and includes a cash value that grows over time.
In contrast, no medical life insurance costs more because the insurer knows less about your health. With simplified issue policies, you answer a short list of health questions, so rates are higher than fully underwritten policies. Guaranteed issue is the most expensive, since the insurer accepts anyone without health questions or exams, leading to the highest risk and therefore the highest premiums.
Personal factors affecting life insurance costs in your 50s
Beyond policy type, several personal factors will influence how much you pay for life insurance in your 50s:
Age: The older you are, the more you’ll pay. Rates increase every year you delay applying. For example, a 50-year-old will pay significantly less than a 59-year-old for the same policy.
Gender: Men typically pay 20–30% more than women because they tend to have shorter life expectancies.
Smoking status: Smokers face dramatically higher premiums—often double or more—compared to non-smokers, due to the higher risk of chronic illness and premature death.
Coverage amount: A higher death benefit means higher premiums. For example, a $1 million policy costs about twice as much as a $500,000 policy, all else being equal.
Health and lifestyle: Insurers consider medical history, prescriptions, height and weight, and more. Risky activities like excessive drinking, drug use, dangerous hobbies, or poor driving records can also increase costs.
Although you can get a quote for standard rates, your actual premium can’t be determined until you go through the underwriting process. That’s why it’s a good idea to apply sooner rather than later. You can lock in a lower rate while you’re younger and healthier—waiting even a year can lead to noticeable increases in premiums.
How much does term life insurance over 50 cost?
Term life insurance premiums in your 50s are guaranteed level for the entire term, meaning your monthly cost won’t increase during the policy’s duration. For example, if you purchase a term-10 policy at age 50, your premium stays the same from age 50 to 59. A term-20 policy purchased at 55 would lock in the same premium from 55 to 74.
The cost of your term life insurance depends mainly on your age, gender, term length, and whether you’re buying an individual or joint policy. Here’s a table showing sample monthly premiums for non-smoking men and women at standard rates for a $100,000 death benefit:
| Age | Term-10 | Term-20 | Term-30 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Male | Female | Joint first-to-die | Male | Female | Joint first-to-die | Male | Female | Joint first-to-die | |
| 50 | $20 | $17 | $26 | $37 | $27 | $49 | $57 | $40 | $82 |
| 51 | $22 | $18 | $28 | $41 | $30 | $54 | $62 | $44 | $90 |
| 52 | $23 | $19 | $31 | $45 | $33 | $67 | $68 | $48 | Above maximum age |
| 53 | $25 | $20 | $35 | $49 | $36 | $67 | $75 | $53 | Above maximum age |
| 54 | $26 | $22 | $39 | $54 | $39 | $76 | $82 | $59 | Above maximum age |
| 55 | $28 | $23 | $44 | $60 | $43 | $85 | $90 | $65 | Above maximum age |
| 56 | $31 | $25 | $49 | $67 | $48 | $96 | Above maximum age | Above maximum age | Above maximum age |
| 57 | $35 | $27 | $54 | $76 | $53 | $107 | Above maximum age | Above maximum age | Above maximum age |
| 58 | $39 | $30 | $59 | $85 | $59 | $120 | Above maximum age | Above maximum age | Above maximum age |
| 59 | $44 | $33 | $66 | $96 | $65 | $133 | Above maximum age | Above maximum age | Above maximum age |
As you can see from the table, the premium increases during your early 50s are relatively modest. However, the rate of increase becomes significantly steeper as you approach your late 50s. That’s why it’s smart to purchase a policy earlier in your 50s to lock in lower rates for the full term.
Although term life insurance doesn’t build cash value, it delivers the best value per dollar of death benefit—especially if your goal is to get the highest possible coverage for the lowest cost.
How much does whole life insurance over 50 cost?
Understanding the cost structure of whole life insurance is key to making an informed decision. Participating whole life insurance offers permanent coverage, cash value growth, and level premiums—but those premiums can vary significantly depending on your chosen payment period.
There are three main premium payment periods for whole life insurance:
- 10-pay: Pay premiums for 10 years
- 20-pay: Pay premiums for 20 years
- Life pay: Pay premiums until age 100
The shorter the payment period, the higher the monthly premium. That’s because you’re paying off the full cost of the policy over a shorter timeframe. While 10-pay policies are more expensive, they appeal to people who want to be done paying premiums sooner, especially before retirement.
After the payment period ends, your policy stays in force for life with no additional payments required. Meanwhile, both the cash value and death benefit continue to grow as dividends are credited to your policy.
Below is a table showing sample monthly premiums for a $100,000 initial death benefit for healthy, non-smoking individuals in their 50s, based on fully participating whole life policies.
However, the table doesn’t show how the policy’s value grows over time. The cash value increases steadily from zero and eventually surpasses the total premiums you’ve paid. Meanwhile, the death benefit starts at $100,000 and grows over time as dividends are used to purchase additional coverage, known as paid-up additions.
For example, a healthy 50-year-old male non-smoker paying $330/month for a 20-pay whole life policy with a $100,000 initial death benefit could see cash value exceed $100,000 in 20 years, with the death benefit rising above $160,000, assuming current dividend scales continue.
| Age | 10-pay | 20-pay | Life pay | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Male | Female | Joint last-to-die | Male | Female | Joint last-to-die | Male | Female | Joint last-to-die | |
| 50 | $587 | $550 | $523 | $330 | $309 | $286 | $226 | $202 | $171 |
| 51 | $599 | $561 | $533 | $337 | $315 | $293 | $235 | $209 | $177 |
| 52 | $612 | $573 | $544 | $345 | $322 | $299 | $244 | $217 | $183 |
| 53 | $624 | $585 | $555 | $353 | $329 | $306 | $253 | $226 | $190 |
| 54 | $637 | $597 | $566 | $361 | $337 | $313 | $264 | $234 | $197 |
| 55 | $650 | $609 | $579 | $370 | $344 | $319 | $274 | $243 | $204 |
| 56 | $664 | $622 | $591 | $379 | $352 | $326 | $286 | $253 | $212 |
| 57 | $677 | $635 | $604 | $388 | $360 | $333 | $298 | $263 | $220 |
| 58 | $691 | $647 | $617 | $397 | $368 | $340 | $311 | $274 | $228 |
| 59 | $704 | $660 | $631 | $407 | $376 | $348 | $325 | $285 | $237 |
How much does no medical life insurance over 50 cost?
With simplified issue policies, you won’t take a medical exam, but you will answer a health questionnaire. Your rates will vary depending on how you respond. If you’re in good health, you may be able to lock in relatively affordable premiums. However, those with health issues will see noticeably higher costs—even though they’re still answering the same questions.
Here’s a table showing sample monthly premiums for $100,000 of term-10 coverage for male and female non-smokers at standard (average) and substandard (below-average) rates:
| Age | Simplified issue: standard health | Simplified issue: below-average health | ||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| 50 | $36 | $29 | $61 | $49 |
| 51 | $39 | $32 | $68 | $55 |
| 52 | $41 | $33 | $76 | $60 |
| 53 | $44 | $36 | $83 | $65 |
| 54 | $47 | $38 | $90 | $70 |
| 55 | $50 | $40 | $97 | $76 |
| 56 | $58 | $45 | $112 | $85 |
| 57 | $65 | $50 | $126 | $95 |
| 58 | $73 | $55 | $140 | $104 |
| 59 | $80 | $60 | $154 | $113 |
Guaranteed issue policies require no health questions or exams, making them the easiest to qualify for—but also the most expensive. Because insurers take on the most risk, premiums are significantly higher, and coverage amounts are usually lower. These policies often include a two-year waiting period, during which only accidental death is covered.
Here’s a sample table showing monthly premiums for $25,000 of guaranteed issue coverage for male and female non-smokers:
| Age | Guaranteed issue | |
|---|---|---|
| Male | Female | |
| 50 | $95 | $77 |
| 51 | $102 | $82 |
| 52 | $108 | $86 |
| 53 | $115 | $90 |
| 54 | $121 | $95 |
| 55 | $128 | $99 |
| 56 | $136 | $104 |
| 57 | $145 | $110 |
| 58 | $153 | $116 |
| 59 | $161 | $121 |
How People Over 50 Can Apply For Life Insurance
Applying for life insurance over 50 might seem daunting, but the process is more straightforward than you might think—especially when you know what to expect. Whether you’re applying for fully underwritten, simplified issue, or guaranteed issue coverage, the steps are fairly similar. Here’s how you can approach it, optimized to help you get the right coverage for your needs.
1. Identify your need
Start by asking yourself: Why am I getting life insurance now? Common reasons include:
- Replacing lost income for a spouse or dependent children
- Covering final expenses and funeral costs
- Leaving an inheritance or paying off debt
- Funding estate taxes or charitable giving
Your reason will determine the type of policy (term, whole life, or no medical) and how much death benefit you should apply for. For example, if your goal is to cover final expenses, a smaller whole life policy may be sufficient. If you’re still working and have dependents, a term policy with a larger death benefit may be more appropriate.
2. Gather medical and lifestyle information
Insurance companies will assess your risk based on both medical and lifestyle factors. Having this information ready helps streamline the process.
- Medical information: recent doctor visits, diagnoses, medications, pending tests, and your height and weight.
- Lifestyle risks: tobacco and alcohol use, dangerous hobbies (e.g. skydiving or scuba diving), travel to high-risk countries, driving infractions, past drug use, criminal record, and bankruptcy.
The more transparent you are, the more accurate your quotes and underwriting outcome will be.
3. Compare quotes
You can use online life insurance quoting tools for a quick idea of what policies may cost. However, keep in mind:
- Public quotation tools often exclude joint policies, no medical options, or preferred rate offerings.
- Working with a life insurance advisor or broker gives you access to a wider range of options and expert guidance. An advisor can match you with policies you’re most likely to qualify for, based on your health and lifestyle.
4. Complete the application
Once you’ve found the right policy, the next step is completing the application—typically done online or over the phone. During this stage, it’s essential to be honest and accurate, as any misrepresentation of material facts could result in your coverage being voided.
In many cases, you can choose to pay the first month’s premium upfront, which may grant you temporary coverage while your application is being reviewed; if you ultimately decide not to proceed, this payment is refundable.
Depending on the type of policy you apply for, the insurer may also require a medical exam. If so, you’ll schedule a paramedical appointment, during which a nurse will visit your home to collect blood and urine samples, take your blood pressure, and record your height and weight.
5. Wait for approval
For fully underwritten policies, the approval process can take several weeks as underwriters review your application, exam results, and records. You’ll be assigned a rate class based on your health—preferred, standard, or rated (which means a higher premium due to increased risk).
For no medical life insurance, the process is much faster and often results in instant or next-day approval.
6. Finalize and pay the first premium
After approval, you’ll need to finalize the policy by paying your first premium. This locks in your coverage and starts your policy. The issue date will become your annual renewal date if you’re paying yearly.
Most policies come with a free look period—typically 10 days—during which you can cancel the policy for a full refund if you change your mind. Once you’re satisfied, be sure to store your policy documents securely and inform your beneficiary where to find them.
Frequently Asked Questions
Yes, you can still get life insurance after 50, including term, whole, and no medical options. Rates are higher than in your 30s or 40s, but coverage is still available.
The best life insurance for someone over 50 depends on your health, budget, and goals. Term life is ideal for covering debt and replacing income, while whole life offers lifelong coverage and cash value growth.
A healthy 50-year-old male non-smoker can expect to pay around $20/month for $100,000 of 10-year term life insurance; women have a longer life expectancy and will pay less for the same amount of coverage.
Whole life insurance after 50 can be worth it if you’re looking for lifelong coverage to support estate planning and want to build cash value for retirement use.
While premiums are higher than term insurance, they stay level for life, and the policy accumulates equity over time. The cash value eventually exceeds your total premiums paid and can be accessed tax-efficiently, making it a potentially smart savings tool depending on your tax bracket, time horizon, and risk tolerance.
Yes, no medical life insurance is available after 50 through simplified and guaranteed issue policies. These are ideal for those with health issues or who want faster approval.
Approval can take anywhere from a few minutes to several weeks, depending on the type of policy. No medical life insurance is often approved instantly or within a few days, while fully underwritten coverage usually takes at least one week to over a month.
The process may be longer if the underwriter requests additional information, such as medical records or test results, to evaluate your health and risk profile.
You may still need life insurance after 50 to cover final expenses, replace income for a spouse, or leave a legacy. Your specific need depends on your financial situation.
If you outlive your term policy, it expires with no payout. Some insurers allow you to renew at higher rates or convert to permanent insurance.
It’s much cheaper to get life insurance at 50 than at 60. Premiums increase sharply with age—especially after 55—so applying earlier helps lock in lower rates and better coverage options.
Getting insured while you’re still healthy also protects you from being declined or paying more if your health changes unexpectedly in the future.
Yes, you can buy life insurance for your parents in their 50s with their consent and proof of insurable interest.
Insurable interest means you must show you’d suffer a financial loss if they pass away, such as funeral costs or lost support.
Securing Your Future With Life Insurance Over 50
Life insurance in your 50s requires careful consideration. Whether you’re looking for affordable term coverage, permanent protection with cash value, or no medical options due to health concerns, the key is to choose a policy that aligns with your goals—be it income replacement, estate planning, or covering final expenses. Your age, health, budget, and long-term objectives all play a role in determining which type of coverage is right for you.
If you’re unsure where to start or want personalized advice, we’re here to help. Email us at info@briansoinsurance.com or call 604-928-1628 for a free, no-obligation consultation. We’ll compare quotes from multiple insurance companies to find the best solution for your needs. Beyond just selling you a policy, we provide ongoing support to make sure your coverage continues to meet your financial and personal goals as life evolves.
We can also design a comprehensive insurance strategy that includes term and permanent life insurance, disability, health and dental, long-term care, and critical illness insurance—so you’re fully protected from life’s uncertainties. Or, if you prefer, simply use the form below to receive a personalized quote delivered directly to your inbox.
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While we make every effort to keep our site updated, please be aware that timely information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Brian So Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser. This post is a brief summary for indicative purposes only. It does not include all terms, conditions, limitations, exclusions, and other provisions of the policies described, some of which may be material to the policy selection. Please refer to the actual policy documents for complete details which can be provided upon request. In case of any discrepancy, the language in the actual policy documents will prevail. A.M. Best financial strength ratings displayed are not a warranty of a company’s financial strength and ability to meet its obligations to policyholders.
