Life insurance cost by age · Pre-retirement
Life insurance cost at 55
At 55, the question shifts from “how do I replace my income?” to “what will my family need when I’m gone?”
The short answer
20-year, $500,000 term: about $128–$280/mo for women and $151–$392/mo for men — healthy non-smokers, from real carrier rate tables. Your health, tobacco use, state and the carrier you choose decide the real price.
Term life insurance at 55
| Term | Coverage | Women | Men |
|---|---|---|---|
| 10 years | $250,000 | $40–$95/mo | $51–$138/mo |
| 10 years | $500,000 | $80–$189/mo | $102–$275/mo |
| 10 years | $1,000,000 | $161–$379/mo | $204–$550/mo |
| 20 years | $250,000 | $64–$140/mo | $75–$196/mo |
| 20 years | $500,000 | $128–$280/mo | $151–$392/mo |
| 20 years | $1,000,000 | $257–$560/mo | $302–$784/mo |
| 30 years | $250,000 | $106–$172/mo | $140–$209/mo |
| 30 years | $500,000 | $211–$344/mo | $279–$419/mo |
| 30 years | $1,000,000 | $422–$689/mo | $558–$837/mo |
Healthy non-smokers. Low end: best health class at the most competitive carriers; high end: typical, including no-exam options. “—” = not enough products in our tables at this age.
Tobacco users: a 20-year, $500,000 policy runs about $513–$766/mo for women and $663–$900/mo for men at 55.
Final expense (burial) insurance at 55
| Coverage | Women | Men | Women (tobacco) | Men (tobacco) |
|---|---|---|---|---|
| $10,000 | $29–$34/mo | $36–$41/mo | $39–$45/mo | $50–$56/mo |
| $15,000 | $43–$49/mo | $52–$60/mo | $58–$66/mo | $74–$83/mo |
| $25,000 | $69–$80/mo | $85–$97/mo | $97–$109/mo | $121–$136/mo |
Day-one (level) whole life plans for applicants who qualify. Premiums never increase; coverage never expires.
What life insurance is for at 55
At 55 the mortgage may be close to paid off, but a spouse may still depend on your pension or Social Security.
If your term policy ends in your 60s, now is the time to decide whether to convert it.
What most 55-year-olds buy
- Final expense whole life — permanent, no exam, level premiums
- Shorter term (10–15 years) to bridge to retirement
- Checking your term’s conversion deadline
What affects your price at 55
Many applicants have at least one condition by 55. That’s normal — carriers’ rules differ a lot, and graded plans cover more serious histories. See our health-condition guides.
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Life insurance at 55 — FAQ
How much does life insurance cost for a 55-year-old?
For a healthy non-smoker: 20-year, $500,000 term: about $128–$280/mo for women and $151–$392/mo for men, based on carrier rate tables we work with. The low end is the best health class at the most competitive carriers; health, tobacco, state and carrier change the real price.
How much more do smokers pay at 55?
Much more: a 20-year, $500,000 term policy runs about $663–$900/mo for men and $513–$766/mo for women who use tobacco at 55, versus the non-smoker ranges above. Quitting for 12 months can qualify you for non-smoker rates at many carriers.
Is it worth getting life insurance at 55?
For most people, yes: final expenses, a spouse’s income and any remaining debts don’t go away. At 55, coverage is still widely available and premiums are locked in for life on whole life plans.