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Term Life Insurance Rates for 53-Year-Olds

With the cost of living becoming increasingly expensive, many individuals are seeking reasonable but reliable coverage for their families that won’t break the bank. As an important factor in preparing for the future, life insurance serves as an invaluable resource for people of all ages

In particular, 53-year-olds may be curious to learn how they can find the most suitable and economical term life insurance coverage. In this article, we’ll dive into just that, helping you to better understand how much term life insurance is for people aged 53 and make an informed decision on the best course of action for you and your family.

Table of Contents

20-Year Term Life Insurance Cost (Men; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53MenNo20 Years$25,000Mutual of Omaha$29
53MenNo20 Years$50,000American Amicable$39
53MenNo20 Years$100,000American Amicable$72
53MenNo20 Years$250,000American Amicable$169

The table provides information on 20-year term life insurance cost for a 53-year-old man who does not smoke. The prices across the table vary significantly depending on the amount of coverage

Mutual of Omaha offers a $25,000 policy for $29 a month, while American Amicable offers a $250,000 policy for $169 a month.

30-Year Term Life Rates (Male; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53MenNo30 Years$25,000Americo$41
53MenNo30 Years$50,000Prosperity Life$61
53MenNo30 Years$100,000Prosperity Life$114
53MenNo30 Years$250,000Prosperity Life$275

This table offers a snapshot of what a 53-year-old male, who does not smoke, could expect to pay for a 30-year term life insurance policy. Americo offers coverage of $25,000 for $41 a month, and Prosperity Life offers coverage of $50,000, $100,000, and $250,000 for $61, $114, and $275 a month, respectively

These rates can act as a general guide for cost when shopping around for life insurance as an individual’s age, lifestyle, desired coverage amount and term length, and choice of insurance company can all affect cost. On the whole, premiums for life insurance policies tend to increase with age, with older individuals paying more for life insurance policies than younger individuals. Additionally, life insurance premiums can vary significantly from company to company, and based on the type of coverage offered

Therefore, potential policyholders should do their homework and shop around for the best rate.

20-Year Life Insurance Pricing (Male Tobacco; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53MenYes20 Years$25,000Americo$49
53MenYes20 Years$50,000Foresters$81
53MenYes20 Years$100,000Foresters$158
53MenYes20 Years$250,000Foresters$386

A look at the table above shows that at age 53, the cost of a 20-year term life insurance policy for a male tobacco user varies by coverage amount and insurance company. For a policy covering $25,000, the policy for Americo is $49 per month, a policy for Foresters covering $50,000 is $81 per month, a policy for Foresters covering $100,000 is $158 per month, and a policy for Foresters covering $250,000 is $386 per month.

30-Year Term Rates (Male Smokers; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53MenYes30 Years$25,000Americo$68
53MenYes30 Years$50,000Americo$129
53MenYes30 Years$100,000Americo$251
53MenYes30 Years$250,000Americo$615

The data in the table above provides an overview of the cost of term life insurance policies for a 53 year-old male who is a smoker as of April 2021. Specifically, the table shows the cost of a 30-year term life insurance policy from Americo for different coverage amounts

For example, a $25,000 term life insurance policy from Americo costs $68 per month, whereas a $50,000 policy costs $129 per month, and a $100,000 policy costs $251 per month. Rates increase incrementally with the coverage amount, so an Americo policy for $250,000 in coverage for a 53-year-old male smoker costs $615 per month. Today, there are many over life insurance companies offering policies, and rates can vary from one to another.

20-Year Term Premiums (Women; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53WomenNo20 Years$25,000Mutual of Omaha$28
53WomenNo20 Years$50,000American Amicable$28
53WomenNo20 Years$100,000American Amicable$51
53WomenNo20 Years$250,000American Amicable$116

This table shows the cost of 20-year term premiums for non-smoking women age 53. The three premiums in the table are from companies Mutual of Omaha, American Amicable, and American Amicable respectively

The monthly rate for coverage of $25,000 at Mutual of Omaha is $28, while the monthly rate for coverage of $50,000 at American Amicable is also $28. American Amicable also offers a monthly rate of $51 for coverage of $100,000, and $116 for coverage of $250,000.

30-Year Term Policies (Women; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53WomenNo30 Years$25,000Americo$41
53WomenNo30 Years$50,000American Amicable$40
53WomenNo30 Years$100,000American Amicable$74
53WomenNo30 Years$250,000American Amicable$170

At age 53, women who don’t smoke and buy a 30-year term life insurance policy can expect to pay different monthly rates for different amounts of coverage. For example, Americo Insurance charges $41/month for $25,000 worth of coverage. If a woman wanted to purchase $50,000 worth of coverage from American Amicable, her monthly rate would drop to just $40/month

For the same company, but with $100,000 in coverage, the monthly rate would rise to $74/month. And a policy of $250,000 in coverage from American Amicable would cost her $170/month. Simply put, the higher the amount of coverage, the higher the cost per month.

20-Year Term Monthly Premiums (Women Smokers; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53WomenYes20 Years$25,000Mutual of Omaha$47
53WomenYes20 Years$50,000Prosperity Life$70
53WomenYes20 Years$100,000Prosperity Life$132
53WomenYes20 Years$250,000Prosperity Life$320

At age 53, smokers looking to buy a 20-year term life insurance policy can find plans ranging from $25,000 to $250,000 in coverage. For women smokers, Mutual of Omaha offers a $25,000 policy for a monthly rate of $47, while a $50,000 policy with Prosperity Life is priced at $70 per month

Prosperity Life also offers hazard-takers $100,000 in coverage for $132 per month and a $250,000 policy for $320 per month.

30-Year Term Insurance Quotes (Female Smokers; Age 53)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
53WomenYes30 Years$25,000Americo$68
53WomenYes30 Years$50,000Prosperity Life$100
53WomenYes30 Years$100,000Prosperity Life$192
53WomenYes30 Years$250,000Prosperity Life$470

The above table offers comparative quotes for a 30-year term life insurance policy for female smokers at age 53. It shows the age, gender, smoking status, term of the policy (in years), coverage amount, insurance company, and the corresponding monthly rate for the policy. In this case, a 53-year-old female smoker who wants a 30-year policy can expect to pay $68 per month for a coverage amount of $25,000 from Americo, $100 per month for $50,000 from Prosperity Life, $192 per month for $100,000 of coverage from Prosperity Life, and $470 per month for a $250,000 policy from Prosperity Life.

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* Based on website quote requests, through 2/28/23.
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