Life Insurance

If you’re in your 50s (or beyond) and wondering whether it’s “too late” for life insurance, the short answer is: It’s not. In fact, life insurance after 50 can be one of the smartest financial decisions you make.

Whether your goal is to cover final expenses, protect your loved ones, leave a legacy, or simply bring peace of mind—there are flexible, affordable coverage options for people over 50.

Let’s walk through what you need to know, how policies work at this stage of life, and how The Policy Shop can help you find the right fit—without the hassle.

Why Consider Life Insurance After 50?

You may no longer have young kids at home or a 30-year mortgage. But that doesn’t mean you’re “done” needing protection. Life insurance in your 50s can serve many practical and purposeful roles, including:

• Replacing income for a spouse

• Covering funeral or final expenses

• Helping with debt or medical costs

• Leaving behind a tax-free inheritance

• Creating a legacy for grandchildren or charity

Four Key Reasons to Get Life Insurance in Your 50s (and Beyond)

🪦 1. Final Expense Coverage

Final expense life insurance (sometimes called burial insurance) is a small whole life policy designed to cover costs like:

• Funeral and burial expenses

• Unpaid medical bills

• Legal or probate fees

It’s especially popular among seniors because:

• It’s affordable

• It often requires no medical exam

• It provides lifetime coverage

Even a $10,000–$25,000 policy can take a major financial burden off your family.

💰 2. Income Protection for Spouses or Dependents

Even if your children are grown, your income may still support your spouse—or even aging parents or adult children. Life insurance can act as a financial cushion to help your loved ones maintain their lifestyle.

You might consider:

• Term life if you’re still working and need coverage for 10–20 years

• A permanent policy to provide lifelong protection and build cash value over time

🏡 3. Estate Planning and Tax-Free Transfers

Many people in their 50s and 60s start thinking more seriously about what they’ll leave behind.

Life insurance is one of the most efficient estate planning tools:

• Death benefits are tax-free

• They avoid probate delays

• You can name beneficiaries directly (spouse, children, trust, or charity)

It’s an easy way to preserve your legacy and ensure your assets go exactly where you intend.

💖 4. Legacy Giving and Charitable Goals

Want to make a lasting impact? Life insurance allows you to leave a larger charitable donation than you might be able to give during your lifetime.

For example:

• A $100,000 life insurance policy can cost as little as $50–$100/month, depending on your age and health.

• You name a charity as your beneficiary—and your monthly payments translate into a meaningful legacy.

What Are the Best Policies for Seniors?

Here are a few common types of over 50 life insurance options:

Explore Affordable Coverage Options for People Over 50

Shopping for life insurance after 50 doesn’t have to be intimidating—or expensive. At The Policy Shop, we specialize in policies that fit every stage of life, including:

• Term life for budget-conscious protection

• Whole life for lifelong peace of mind

• No-exam policies for fast, hassle-free approval

• Permanent plans that build wealth and protect your legacy

👉 Explore affordable coverage options for people over 50 and get matched with a plan that works for your life—and your wallet.

FAQs: Life Insurance After 50

✅ Will I Be Approved for Life Insurance After 50?

Yes! Many companies offer coverage to people up to age 85, depending on the type of policy. While your age and health play a role in pricing, there are:

• No-exam policies

• Guaranteed issue policies (you can’t be turned down)

You have more options than you think—especially if you’re in generally good health.

✅ Is It Affordable to Get Life Insurance After 50?

Yes. Term life is usually the most affordable, and even permanent policies can fit into a reasonable budget. The key is choosing the right type and amount of coverage based on your needs. A 55-year-old in good health might pay:

• Around $40/month for $100K term life

• Around $90/month for a small final expense policy

✅ Do I Need a Medical Exam?

Not necessarily. Many policies for older adults are available without a medical exam, especially:

• Final expense policies

• Simplified issue term policies

• Guaranteed issue whole life

If you’re healthy, taking a medical exam may help lower your premiums — but it’s optional with many carriers.

Final Thoughts: It’s Never Too Late to Protect What Matters

Whether you’re 50, 60, or even 70, life insurance can still play a powerful role in your financial plan. It’s not just about leaving money behind — it’s about giving your loved ones peace of mind and making sure your legacy is protected.

👉 The Policy Shop specializes in policies for every stage of life—get a quote today.
We’ll help you find the right coverage, at the right price, with no pressure and no gimmicks.