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What does life insurance cost at age 69

Life insurance at 69

Reviewed By: Rob Pinner

Rob Pinner Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

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Many people are not sure that they need life insurance at age 69.

There are many common questions.

Why do I need life insurance?

Won’t it be expensive?

I just don’t have the time.


Number one ….you need life insurance if people rely on you and your income.

Number two … You still have many life insurance options at 69 

Number three … Only takes 1 minute to get an online quote

Nothing is more important than protecting the financial security of the ones you love.

We also hear this quite a lot: “Life insurance at age 69 is too expensive.”

Not necessarily so. Many of the shorter term coverage that people seeking life insurance at 69 are interested in have very affordable premiums. Getting the coverage you need will probably be less expensive than you have feared.  You can even use a no medical exam underwriting policy to make buying life insurance easy.

We’ll quickly look at four basic life insurance questions, show you some sample quotes, then all that’s left using the term quoter on this page.

What is term versus permanent life insurance?
Why do I need life insurance at 69?
How much life insurance do I need?
How much does life insurance at 69 cost?

If this is not the information you are looking for, don’t worry! We have the answers and are ready to get you started right away!


Do I need term insurance or permanent insurance at age 69?


This is a question we hear a lot. First, what term and permanent life insurance have in common, the death benefit. The death benefit is the amount the beneficiaries of your policy will receive when you pass away.

The two main differences between term and permanent life insurance are the length of your contract and the cash accounts that are only attached to permanent policies.

Term life insurance lasts for the “term,” or length, of your contract. Permanent policies do not expire as long as you continue to pay your premium. Some financial obligations, such as paying off a mortgage, will pass, other obligations, such as providing an inheritance or covering final expenses, will not.

The cash accounts connected to permanent life insurance policies do make these policies more expensive and complicated than a simple and inexpensive term policy.

On the other hand, these cash accounts can also turn your life insurance coverage into an integral part of your financial portfolio. There are a variety of ways these accounts accumulate tax-free interest that you can access for any expense you choose through withdrawals and policy loans.


Many people have heard of indexed universal life (IUL), a type of permanent life insurance that earns interest based on the performance of a stock market index that you choose, such as the S&P 500 of the Dow Jones. What attracts many to IUL is that even if the index you choose takes a dive, your cash account will not decrease in value. You are able to participate in market gains, while being protected from market loss.


Life insurance at 69


Why do I need life insurance at 69?

You need life insurance because even though the kids are on their own, the house is paid off and your retirement plans are coming together nicely, your income is still relied upon. If you were to pass away unexpectedly, who would suffer financially? This is why you need life insurance.

Life insurance at 69

Certainly, your spouse is relying on your income for support. Are you also caring for a disabled child or an elderly parent? What you want to do is identify where the sudden loss of your income would cause financial distress. Next, what dollar amount would it take to indemnify, or return financial stability to, each of these instances?

Your spouse relies on your income not only from day-to-day, but also for your retirement plans. If you are still building towards your golden years, you’ll want to plan for this when considering your life insurance plans.

If you have any debts you are still paying down, you may want your life insurance coverage to address this situation. If this were to fall upon your family, it could lead to years of financial distress.

Many clients want to leave something to those they love and care about. Life insurance at 69 often includes an inheritance or a cash legacy left to a favorite charity.

How much life insurance does a 69 year old need?



The amount of life insurance coverage you will need will require an examination of your household’s present financial status and future financial goals. You will have to identify where the loss of your salary will cause problems for the people you love and care about.

 Often, an income replacement approach is used to help determine a client’s proper amount of life insurance coverage. What portion of your income is necessary to continue the necessary financial support you provide to those you love?

First, you need to determine the amount of income necessary to support your loved ones when you are gone.
Second, we need to figure out what lump sum amount that you will leave your loved ones would earn the desired yearly income.

For example, if you decide your spouse would need a $15,000 a year supplement to continue after you’re gone, and assume the amount you leave will earn interest at a 5% interest rate, then your benefit would need to be $300,000. It important to note that this original $300K stays intake to be used for other important family needs.

Other coverage needs, such as unpaid debt, inheritances, and charitable donations will have to be considered individually and include in your coverage amounts.  


Life insurance at 69

How much does life insurance cost for a 69 year old?

Much less than most people think! It should be no problem for you to find a balance between the coverage you want and the coverage you can afford. As you check out the following sample life insurance quotes, notice how inexpensive the shorter policies with lower face values can be.

Many in the sixties are looking for these very affordable policies that will get them and their spouse to their retirement.

Your health category (or risk rating, risk category, etc.; different insurers often use different terms to classify their clients based on the risk of insuring their lives) will be decided by underwriters who consider a variety of factors in your life, including age, sex, tobacco use, health, occupation and many others.

Following are four tables with sample monthly premiums for a 69-year-old male and female. The quotes provided represent a range of premiums a 69-year-old might pay for a fully underwritten life insurance policy.

> The sample quotes shown here are for term life insurance.
> These quotes are for non-smokers.
> There is a table for a preferred plus health category and one for a standard health category.
> Term lengths of 10, 15, and 20 years, and face values of $100,000, $250,000, $500,00 and $1,000,000 are shown.
> These are only sample monthly premiums; your premium will be based on how your unique risk is assessed.
> These sample quotes were gathered in August of 2016.

69-year-old Male Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $82.77 $158.21 $309.15 $579.25
15-year $112.28 $228.71 $460.69 $877.46
20-year $161.50 $360.62 $724.94 $1,392.12

69-year-old Male Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $133.82 $290.99 $577.50 $1,085.92
15-year $198.19 $434.79 $855.83 $1,599.73
20-year $259.76 $588.55 $1,171.12 $2,376.73

69-year-old Female Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $57.35 $120.80 $212.11 $361.05
15-year $73.01 $158.86 $295.31 $489.07
20-year $112.62 $234.54 $461.39 $884.38

69-year-old Female Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $85.89 $185.67 $347.64 $649.96
15-year $121.27 $271.31 $521.94 $935.41
20-year $183.12 $419.87 $830.75 $1,642.98

Buying Life insurance at 69

If you are serious about securing this protection for your family, there is no reason to wait. Reach out to us right now and get this started today.


Frequently asked Questions

How much does life insurance cost for a 69-year-old?

Life insurance at 65.

Life insurance generally costs less for a woman than a man since women generally live longer. For example, a $100,000 term policy starts at about $83 per month for a healthy male but is only $57.00 for a very healthy female. In either example, if the applicant uses tobacco, the rates would be at least 50% higher.

How much life insurance to I need at 69?

question mark icon

To determine the appropriate amount of life insurance to purchase, you should first determine what you want it to do for you. There are many uses for life insurance beyond paying final expenses. Many applicants want the death benefit to be enough to replace their income and make sure a surviving spouse or other dependent can move on financially.

Does it cost much for burial insurance when you're 69?

older couple

Since most traditional funerals cost from $8,000 to $10,000, the cost of a burial insurance policy can be very affordable. Additionally, since burial insurance is whole life insurance, the policy is non-cancellable as long as the premium is paid and the monthly payment cannot be increased by the company. Your policy will also build cash value over time that can be accessed in a financial emergency or any other reason.


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