Are you looking for how much is a million dollar life insurance policy for a 50 year old man? Then this is the article for you. They say 50 is the new 40 or even 30 and many life insurance companies seem to agree. The life insurance rates for a 50 year old are very affordable, even inexpensive as I will show in the table below.
As life expectancy and modern medicine continue to improve, so do life insurance rates, especially for those age 50 and over. At the age of 50, many still have the need for a million life insurance policy to protect a: spouse, mortgage, dependent children and or children in college, and future income. The good news is that life insurance premiums have never been lower for someone 50 years old.
Table of Contents
How much is a million dollar life insurance policy for a 50 year old man?
Below are the rates for a $1,000,000 life insurance policy for a fifty year old male at the best health class for a level term policy.
Term | 10 Year Fixed | 15 Year Fixed | 20 Year Fixed | 25 Year Fixed | 30 Year Fixed |
Premium: | $70 month | $103 month | $134 month | $201 month | $245 month |
No exam life insurance
Term | 10 Year Term | 15 Year Term | 20 Year Term |
Premium: | $96 month | $125 month | $145 month |
Whole life insurance (universal life)
Permanent | To Age 110 | To Age 121 |
Premium: | $736 month | $747 month |

Million Dollar Life Insurance Policy 50 year old man
$1 million 20 year term: $134 month
Million Dollar Life Insurance Policy 51 year old man
$1 million 20 year term: $146 month
Million Dollar Life Insurance Policy 52 year old man
$1 million 20 year term: $161 month
Million Dollar Life Insurance Policy 53 year old man
$1 million 20 year term: $178 month
Million Dollar Life Insurance Policy 54 year old man
$1 million 20 year term: $198 month
Million Dollar Life Insurance Policy 55 year old man
$1 million 20 year term: $221 month
Million Dollar Life Insurance Policy 56 year old man
$1 million 20 year term: $246 month
Million Dollar Life Insurance Policy 57 year old man
$1 million 20 year term: $274 month
Million Dollar Life Insurance Policy 58 year old man
$1 million 20 year term: $307 month
Million Dollar Life Insurance Policy 59 year old man
$1 million 20 year term: $345 month
These are the rates for a million life insurance policy for a male at the best health class.
Underwriting
Getting approved for a million dollar life insurance policy at 50 years old can be an easy process. I will put the steps below.
- Shop the market and choose the life insurance company with the best rate for your health profile.
- Complete the application.
- Complete the free paramed exam or phone interview for no exam policies.
- Wait for underwriting approval.
- Review and active policy.
The paramed for a life insurance policy for a 50 year old man will require a simple 30 minute free paramed exam that includes, height, wight, blood pressure and a small blood and urine sample. This is to verify you are healthy to receive the lowest rate.
Conclusion
A 50-year old man seeking a million life insurance policy can have a sigh of relief that the premiums are very affordable. With major advancements in modern medicine and increases in life expectancy, life insurance companies have followed suit to lower the premiums for those age 50 and above. As you saw in the tables, a 50 year old male can qualify for a one million life policy on a 10 year fixed term for $70 month and a 20 year term for $134 month! Life insurance is based on your age and health, so it’s imperative to lock in the rate while you are younger and healthy.
