Life Insurance for Baby Boomers (Discounts & Rates)

Life insurance for baby boomers is still important coverage to have. Life insurance can help you pay off your mortgage, replace income, and pay for your final expenses. Many seniors think life insurance will be too expensive, but this is not true. Read more to find out how you can get affordable life insurance for baby boomers.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Feb 9, 2021

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The Highlights

  • Life insurance coverage gets more expensive as you age, but that doesn’t mean it is not important to have coverage, and it doesn’t mean you still can’t get a great rate on a policy
  • Life insurance can help you replace income in the event of your death and help protect the people who rely on you
  • Baby boomers can find a great life insurance policy that meets their needs oftentimes they don’t need a huge policy

Life insurance for baby boomers can still be found at reasonable rates with coverages that completely meet their needs. Many seniors think that they are too old to get a great life insurance policy, but this is simply not true.

It is true that life insurance quotes over 50 start to get more expensive, and that life insurance quotes over 60 are more expensive still. However, baby boomers could still get a solid term life insurance policy at an affordable rate that meets all of their life insurance needs.

If you’re ready to buy life insurance for baby boomers, enter your ZIP code above to compare affordable life insurance quotes for baby boomers.

Do I need life insurance if I’m a baby boomer?

Older people may think that they don’t need life insurance coverage, and in some cases, they may be right. If your home is paid off if you have no dependents, and if you have no spouse or partner that you want to take care of financially, you might have no reason to get a life insurance policy.

However, for many people, this is not the case. Life insurance policies can also help cover your final expenses so even if you have no debts or dependents you may want to consider getting a life insurance policy for this reason.

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How much does life insurance cost for seniors?

Baby boomer quotes for life insurance are going to be more expensive than younger individuals, but life insurance can still be very affordable for baby boomers.

Average Monthly Life Insurance Rates for Senior Women with a $100,000 Policy
Age At Purchase (100,000 Policy: Females)10-Year Term Life Average Monthly RatesGuaranteed Universal Life Average Monthly RatesWhole Life Average Monthly Rates
65$37$182$305
75$119$342$572
85n/a$919$1,259
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As you can see monthly life insurance rates for senior women are not too expensive, but how much is life insurance for a senior man?

Average Monthly Life Insurance Rates for Senior Men with a $100,000 Policy
Age At Purchase (100,000 Policy: Males)10-Year Term Life Average Monthly RatesGuaranteed Universal Life Average Monthly RatesWhole Life Average Monthly Rates
65$54$210$359
75$151$392$643
85n/a$1,085$1,478
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Life insurance for senior men is a little bit more expensive, but all in all the costs for both men and women are pretty similar. The best insurance companies will have a range of policy options for you to choose from, but the best policies for baby boomers are generally term life insurance policies.

Term life insurance policies are affordable and offer robust coverage for the people you want to cover in the event of your death. The Insurance Information Institute has good term life insurance resources that you can explore further.

Life Insurance for Baby Boomers: The Bottom Line

Life insurance is important coverage to have, and even baby boomers can get affordable term life insurance coverage. Term life insurance policies can help you pay for a mortgage, replace lost income, leave an inheritance behind, and pay for your final expenses.

If you’re ready to compare cheap term life insurance quotes for baby boomers, enter your ZIP code below.

Are you looking for free insurance quotes?

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