Best Life Insurance Over 50 No Medial Exam

Written by Jeff Root

If you’re looking for an instant quote based on your exact birthday, use the quote form on this page. Rates from over a dozen guaranteed issue companies will be displayed on the following screen.

If you need life insurance over 50 with no medical exam, you’ve found the right place. Many people in their 50s that are thinking about purchasing a small life insurance policy to take care of final expenses and burial costs wait until they’re older to do so. When someone waits till they’re older, rates can go up substantially and they run the risk of their health deteriorating too much.

The Best Life Insurance For People over 50

For people who are between the ages of 50 and 59 who are in need of a life insurance policy free from medical, health or lifestyle questions, and does not include any medical tests, we encourage you to not wait.

The two primary factors for purchasing a guaranteed issue life insurance policy are age and cost.

Why Purchase Life Insurance Over 50 With No Medical Exam?

When you are in your 50s, it will be the most affordable time to make this purchase. The majority of no medical exam insurance products come available to people starting in their 50s. In fact, if you take a second to compare the guaranteed issue rates of a 50-year-old person to a 45-year-old person who has only one carrier option, you’ll see the difference.

That said, guaranteed acceptance insurance prices do increase with age. As you steadily climb through your 50s and into your 60s, your rates will continue to increase year after year.

Another reason is the number of options available. Every single guaranteed acceptance product is available to people in their 50s, no matter the status of their health. This includes all 15 products that we review on this website and most likely any that come on the market in the future.

Hands down, your 50s is the sweet spot for securing the best-guaranteed acceptance life insurance policy.

If you or a loved one lacks insurance for covering any final expenses, funeral, burial or cremation costs, outstanding medical bills or other financial obligations, do not wait any longer. Your family and wallet will thank you.

Sample Rates for Guaranteed Issue Life Insurance Age 50-59

Here are sample quotes for amounts ranging from $5,000 to $20,000. Keep in mind, you are able to take out policy amounts in between these values as well as over (with some select carriers).

For the most accurate quote for your individual needs, we encourage you to run an instant quote on this page.

Guaranteed Issue Life Insurance Rates – Men Over 50

 $5,000$10,000$15,000$20,000
Age 50$22.50$44.09$65.68$87.27
Age 51$24.15$47.39$70.63$93.87
Age 52$25.67$50.42$75.17$99.92
Age 53$27.09$53.26$79.43$105.60
Age 54$28.32$55.36$82.04$108.72
Age 55$29.25$56.50$83.74$110.99
Age 56$29.84$57.69$85.53$113.37
Age 57$30.52$59.03$87.54$116.06
Age 58$31.10$60.21$89.31$118.41
Age 59$31.77$61.53$91.30$121.06

Guaranteed Issue Life Insurance Rates – Women Over 50

 $5,000$10,000$15,000$20,000
Age 50$17.69$34.47$51.24$68.02
Age 51$18.93$36.68$54.02$71.36
Age 52$19.82$37.65$55.47$73.29
Age 53$20.14$38.27$56.41$74.54
Age 54$20.49$38.98$57.47$75.96
Age 55$20.93$39.86$58.78$77.71
Age 56$21.39$40.77$60.16$79.55
Age 57$21.91$41.81$61.71$81.62
Age 58$22.38$42.75$63.13$83.50
Age 59$22.91$43.82$64.73$85.64

Graded Death Benefit for People in Their 50s

If you know that you need a guaranteed acceptance life insurance policy, it is wise to make the purchase immediately. This is because all insurance policies that do not have any health questions come with a graded death benefit.

The graded death benefit is the amount of time you must live before the full amount of the policy is guaranteed to your loved ones. It is commonly referred to as the “waiting period” that a policy holder must live through.

The graded period is typically two years but can be as high as three with some carriers.

Within the first 24 months of a policy being enacted, if death occurs by non-accidental means, then the beneficiaries will not receive the full policy amount. Instead, they will be paid the total premiums paid-to-date plus interest around 10%.

In other words, if you die in the first two years the carrier will only pay back what you have paid in plus interest. Most likely this amount will not be enough to cover a substantial amount of any final expenses, such as burial or cremation.

For this reason, it is imperative that you make this purchase as quickly as possible and begin working through your two years.

The only exception to this rule is if death occurs by accidental means. If you pass away from an accident, your policy amount will be paid in full and the carrier will keep all the premiums paid.

Although the leading causes of death among people in their 50s are heart disease and cancer, unintentional injuries or accidents are still within the top three causes.

Qualifying for Life Insurance With No Graded Period Over 50

The reason all guaranteed issue life insurance companies require the graded period is to protect themselves from high risk cases. These are typically people who most likely have a life expectancy under 24 months or other serious health concerns.

For this reason, this type of policy is usually the last resort for people who are considered uninsurable for simplified issue or fully underwritten insurance products.

More often than not, these are people in their 60s, 70s and 80s. In our experience, many people who are in relatively good health in their 50s can still find ways to qualify for a product without a graded period.

Why Choose Guaranteed Acceptance Life Insurance Over 50 Years Old?

The two MAJOR reasons people purchase guaranteed acceptance are:

  1. Due to health reasons, it is your only option
  2. Due to health reasons, it is your most affordable option

There is one exercise you can do to see if you will qualify for a product WITHOUT a graded period.

If you say “no” to all of the following conditions, then you can most likely apply for a simplified issue product. When applying for a policy with underwriting, these are considered the “knock out” questions and require no’s for all:

  • You’ve been given a life expectancy of 24 months or less because of a terminal illness
  • You’ve been advised to have or have had a tissue or organ transplant
  • You’re currently in a nursing home or are receiving hospice care
  • You’ve been diagnosed with and/or treated for Dementia* or Alzheimer’s.
  • You’re currently on dialysis
  • You’re confined to a wheelchair because of a chronic illness or disease (not injury)
  • You have active cancer (with the exception of squamous cell skin cancer or basal cell)
  • You currently have AIDS (if you have HIV, you may be insurable under some conditions, but it is difficult)

If you answered “no” to all the questions above, let’s see if guaranteed issue might be your most affordable option. You see, outside of the health conditions above that are uninsurable, there are some situations that are incredibly high-risk and therefore more expensive.

Now check if you can answer “no” to the following conditions:

  • You are experiencing congestive heart failure
  • You’ve had or currently are receiving treatment for internal cancer or melanoma within the last year and the cancer is now in remission
  • You’ve experienced a heart attack within the last year
  • You currently use an oxygen machine to help with breathing (except for use due to sleep apnea)
  • You’ve experienced a full stroke (Mini-Strokes & TIA’s are accepted) within the last year
  • You’ve had any form of heart or circulatory surgery within the last year
  • You’ve had or have undergone treatment for angina (i.e. chest pains) within the last year

If you did answer “yes” to any of the scenarios above, then you may be a good candidate for a policy that does not ask any health questions. In order to truly know, though, we recommend speaking with an agent who can help compare all your options.

Should You Get Guaranteed Life Insurance?

We understand that shopping for insurance to cover final expenses can be confusing and daunting. For that reason, it’s highly recommended that you ask for assistance from an independent life insurance agency who can discuss your options and compare rates (such as us!).

People in their 50s are becoming increasingly aware of their own mortality as the end stages of life become more real. Since you can never be sure what life is going to throw at you tomorrow, you shouldn’t wait any longer to get the insurance protection your family needs. Guaranteed issue life insurance at any age is smart if that’s the type of policy you need.

Think about it, if something tragic were to happen to you, and you did not have insurance coverage for final expenses, your family would be left with debts and bills. It’s our goal to ensure you can leave them with a positive legacy instead.

Our independent agents have years of experience working with clients across every age group and we understand the unique desires of each. Give us a call directly to have one of our agents discuss your options for life insurance over 50 with no medical exam. Our services are provided at no cost and with no obligation.

If you’re not quite ready to call, no problem. Feel free to use the complimentary quote tool on this page to instantly compare quotes.

About Jeff Root & Guaranteed Issue Life
About Jeff Root & Guaranteed Issue Life

Jeff Root is the author of The Digital Life Insurance Agent and host of the Modern Life Insurance Selling Podcast.

Guaranteed Issue Life is a nationally licensed agency, that has helped over 1500 consumers purchase guaranteed issue life insurance. We represent over 30 life insurance companies & transact business in every state.

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