Life Insurance for 56 Year Olds

Couple in 50s applying for life insurance

When searching for life insurance at 56 years old, the biggest factors affecting your premium will be the type of coverage needed and your health.

Typically by the time you reach your mid fifties, you’re almost always dealing with some sort of medical condition or medication.

We see everything from people taking only a blood pressure medication to insulin-dependent diabetics, to Olympic athletes in stellar health. The point is whether you’re in excellent health or have some pre-existing conditions, we have many life insurance options for 56 year olds from highly rated companies.


Pre-existing health conditions?

AIG Direct specializes in insuring people just like you. From high blood pressure to diabetes, AIG Direct has seen it all and since they have access to multiple companies, they can find you the absolute lowest rates! Click below to see if you qualify.

Quotes are quick, easy, and free!

Life Insurance at 56 Years Old – Policy Types

Couple in 50s applying for life insurance

Ninety percent of my clients who purchase life insurance at age 56 only need coverage for 10, 15, or 20 years.

That’s because their purpose of the coverage is to replace lost income from their job.

Since at this age, most people will only work another 10 to 20 years, it’s understandable that upon retiring, they will no longer have a need for life insurance.

If this is your situation, term life insurance is the answer for you. Term insurance allows you to purchase a large amount of coverage for a reasonable premium and is used to meet temporary insurance needs.  However, you may need coverage permanently.

If your desire is to have lifelong coverage, then whole life insurance could be your solution.

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How Much Does Life Insurance at 56 Years Old Cost?

Below please find a couple sample quotes for a healthy male and female non smokers needing life insurance at the age of 56.  These rates assume a “preferred plus non-tobacco” rating class.

20 Year Term Life Insurance

Death Benefit  $500,000 $1,000,000
56 Year Old Male $1655/year $3135 per year
56 Year Old Female $1205/year $2215 per year

Guaranteed Level Premiums for Whole Life

Death Benefit $100,000 $250,000
Male – Age 56 $1169/year $2833 per year
Female – Age 56 $966/year $2388 per year

Please note quotes are subject to change.  Your actual premium may be higher if you cannot qualify for the best class.

RELATED: Check Sample Life Insurance Rates by Age (No Personal Info Required)

In order to determine whether you can qualify for this rating, we’ll need to know your date of birth, tobacco use or non-smoker, height, and weight.

Some other factors that can affect a life insurance rating are:

  • Driving history
  • Family history of disease in parents or siblings
  • Hazardous hobbies
  • Occupation
  • Travel

It’s important to disclose whether any of these apply to you for an accurate quote.

How Is a 56 Year Old’s Rating Class Determined?

In the example above, if the 56 year old man or woman takes some medications for well-controlled blood pressure, cholesterol, or mild anxiety, the quote may be accurate.

Some common high risk medical issues that can drop the life insurance applicant in their 50’s out of preferred plus status could be:

  • Diabetes type 2
  • Being obese or overweight
  • History of heart disorders such as replaced valve
  • Coronary artery disease
  • Need for a pacemaker

Even with these issues, though, “Standard” or better may be available for life insurance at 56 years old.  For a standard non smoker, use “regular” in our instant quote form on the right.

For an instant, no-obligation quote for life insurance for 56 year olds, feel free to use our quote form on the right to compare quotes from over 130+ top rated carriers.

Since we work with so many great life insurance companies, we feel we have the lowest premiums anywhere online.

Plus, you don’t have to answer pages and pages of intrusive questions.  Once you hit “Compare Now”, you’ll see your quotes for term or whole life insurance at age 56.


Life Insurance No Exam

Skip the Needles!

Want to take the “pain” out of life insurance? We don’t blame you! Bestow is one of our top recommended no-exam companies offering 10 and 20 year plans up to age 55. See if you qualify for “no exam” today.

Quotes are quick, easy, and free!

*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. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.