age 61 life insurance call: (910) 328-0447
request a quote
For a 61 year old male or female life insurance coverage, the focus shifts to permanent life insurance to Whole Life or Universal Life for estate planning, though term life insurance serves well for shorter time period needs and more economical larger coverage amounts to replace lost income before retirement, cover debts or a mortgage.
Please refer here for a full range of product and carrier recommendations for those in their 60’s. See here for Whole Life final expense quotes ages 60 to 69. Guaranteed Universal Life (GUL) is much less expensive than Whole Life and locks in coverage at a fixed rate to a designated age. 10, 15 and 20 year term quotes and Guaranteed UL quotes are provided below. A woman tends to live longer than a man so their rates are less.
Female – 61 year old
| Face Amount |
Monthly Preferred Best |
Monthly Standard |
Guarantee Period |
Top Carrier |
| $25,000 | $62.36 | $68.55 | Age 121 | Pacific Life |
| $50,000 | $95.00 | $100.45 | (approximate) at preferred best; Protective at standard | |
| $100,000 | $133.00 | $160.61 | Penn Mutual | |
| $250,000 | $320.00 | $362.00 | Protective | |
| $500,000 | $618.50 | $710.00 | Protective | |
| $1,000,000 | $1,173.00 | $1,370.00 | Protective | |
| $2,000,000 | $2,346.00 | $2,752.00 | Protective | |
| $5,000,000 | $5,865.00 | $6,880.00 | Protective |
Male – 61 year old
| Face Amount |
Monthly at Preferred Best |
Monthly at Standard |
Guarantee Period |
Top Carrier |
| $25,000 | $66.42 | $74.60 | Age 121 | Pacific Life |
| $50,000 | $110.00 | $110.85 | (approximate) at preferred best; Protective at standard | |
| $100,000 | $155.76 | $184.90 | Penn Mutual at preferred best; Protective at standard | |
| $250,000 | $357.00 | $441.50 | Protective | |
| $500,000 | $694.00 | $863.50 | Protective | |
| $1,000,000 | $1,328.00 | $1,670.00 | Protective | |
| $2,000,000 | $2,656.00 | $3,346.00 | Protective | |
| $5,000,000 | $6,640.00 | $8.350.00 | Protective |
Term
Lowest price is a key factor to choosing a term life product. However, the quality feature to term is the carrier’s conversion to permanent options. If competing premiums are close, the best conversion rules should help decide. Ask about the product’s age limit of term conversion and current conversion to permanent products. Pacific Life is the overall best for conversion, though other carriers should be evaluated that tailor to individual goals. American National has a chronic and critical illness rider to their term insurance that merits consideration. Below gives the price range for best health, preferred best to average health, standard, for non tobacco users.
Female – Preferred Best – Age 61
| Face Amount |
10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $24.84 | $30.91 | $41.04 | $114.29 |
| $250,000 | $43.87 | $55.66 | $82.31 | $230.10 |
| $500,000 | $78.76 | $104.12 | $158.32 | $439.32 |
| $1,000,000 | $146.06 | $197.61 | $304.73 | $794.75 |
Female – Standard Non-Tobacco – Age 61
| Amount | 10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $42.17 | $54.00 | $71.77 | $134.00 |
| $250,000 | $83.68 | $110.89 | $145.68 | $282.00 |
| $500,000 | $157.96 | $196.96 | $278.16 | $528.36 |
| $1,000,000 | $292.22 | $378.96 | $528.26 | $985.75 |
Male – Preferred Best – 61 years old
| Amount | 10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $34.05 | $42.34 | $61.01 | $125.50 |
| $250,000 | $62.46 | $79.76 | $119.13 | $278.89 |
| $500,000 | $114.21 | $146.81 | $212.86 | $528.25 |
| $1,000,000 | $216.56 | $280.86 | $406.96 | $982.92 |
Male – Standard Non-Tobacco – Age 61
| Amount | 10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $57.33 | $73.92 | $98.90 | $150.50 |
| $250,000 | $117.27 | $164.62 | $207.68 | $343.41 |
| $500,000 | $211.61 | $317.3 | $408.73 | $692.50 |
| $1,000,000 | $403.88 | $595.11 | $793.76 | $1,239.35 |
Closer to being 62 years old? If over 61 and a half, see age 62 quotes, since most carriers set rates by nearest age. Backdating a policy up to six months to save previous age is generally permitted.
Please contact me for a free confidential quote. Many more options available.
Licensed agent: Sean Drummey
email: spdrummey@gmail.com
phone: (910) 328-0447
national producer #5534308
Lower premiums available on Guaranteed UL plans with the no lapse guarantee to age 90, age 95, age 100, age 105, age 110 or whatever age designated. Catch up premium options available with some plans. The Protective Life Guaranteed Universal Life product listed below, as well as the others, are Guaranteed Universal Life also known as ULSG, a Universal Life with Secondary Guarantee, a lifetime no-lapse guarantee. Contact me for details.
Carriers and Products quoted:
Penn Mutual Life Insurance Company: “Guaranteed Protection UL”
Pacific Life Insurance Company: “PL Promise Guaranteed UL”
Protective Life Insurance Company: “Protective Lifetime Assurance UL”
approximate quote please contact me
What happens if I work and get Social Security retirement benefits? “If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2023, that limit is $21.240.”
updated: 9/25/2023 – quotes given as approximate are to the nearest dollar; non tobacco rates; rates subject to change, quote accuracy or completeness not guaranteed