life insurance for a 63 year old call: (910) 328-0447
request a confidential quote
Life Insurance for a 63 year old male or female generally is for permanent life insurance either Whole Life or Universal Life for estate planning. Life insurance offers living benefits for long term care, chronic illness or critical illness. Term life insurance serves well for shorter time period needs and more economical large coverage amounts for debts like a mortgage or to replace lost income before retirement.
Guaranteed Universal Life is much less expensive than Whole Life and locks in coverage at a fixed rate to a designated age. The quotes below are lifetime guaranteed. Here are a full range of product and carrier recommendations for those in their 60’s. Go here for Whole Life final expense quotes ages 60 to 69. See below for term life insurance quotes and age 90 fixed premium Guaranteed Universal Life.
Female – 63 year old
| Face Amount |
Monthly at Preferred Best . |
Monthly at Standard |
Guarantee Period |
Top Carrier |
| $25,000 | $66.71 | $73.24 | Age 121 | Pacific Life at preferred best; American National at standard |
| $50,000 | $104.00 | $112.95 | (approximate) at preferred best; Protective at standard | |
| $100,000 | $147.88 | $181.07 | Penn Mutual | |
| $250,000 | $358.00 | $408.25 | Protective | |
| $500,000 | $691.50 | $799.50 | Protective | |
| $1,000,000 | $1,310.00 | $1,548.00 | Protective | |
| $2,000,000 | $2,620.00 | $3,096.00 | Protective | |
| $5,000,000 | $6,550.00 | $7,740.00 | Protective |
Male – 63 year old
| Face Amount |
Monthly at Preferred Best . |
Monthly at Standard |
Guarantee Period |
Top Carrier |
| $25,000 | $71.32 | $80.25 | Age 121 | Pacific Life |
| $50,000 | $121.79 | $124.25 | Pacific Life at preferred best; Protective at standard | |
| $100,000 | $174.74 | $207.10 | Penn Mutual at preferred best; Protective at standard | |
| $250,000 | $403.50 | $494.00 | Protective | |
| $500,000 | $783.00 | $974.50 | Protective | |
| $1,000,000 | $1,496.00 | $1,910.00 | Protective | |
| $2,000,000 | $2,992.00 | $3,820.00 | Protective | |
| $5,000,000 | $7,480.00 | $9,550.00 | Protective |
Age 63 – Term Life Insurance, Guaranteed Universal Life age 90
Lowest price is the obvious primary consideration for choosing term life. The quality feature to term is the carrier’s conversion to permanent options. Ask about the product’s age limit of term conversion and current conversion to permanent products. Protective Life overall best for conversion, though other carriers should be evaluated to 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 – Age 63
Preferred Best
| Face Amount |
10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $30.09 | $38.29 | $52.73 | $123.65 |
| $250,000 | $52.43 | $71.09 | $105.50 | $252.49 |
| $500,000 | $93.56 | $129.57 | $202.46 | $474.84 |
| $1,000,000 | $179.66 | $245.39 | $389.41 | $876.06 |
Female – Standard Non-Tobacco – 63 years old
| Amount | 10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $50.33 | $66.39 | $89.05 | $148.20 |
| $250,000 | $103.04 | $129.12 | $182.54 | $305.78 |
| $500,000 | $192.14 | $249.06 | $358.84 | $583.25 |
| $1,000,000 | $347.48 | $467.60 | $681.55 | $1,090.46 |
Male – Age 63
Preferred Best
| Amount | 10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $41.40 | $53.13 | $75.11 | $136.50 |
| $250,000 | $77.70 | $98.96 | $149.83 | $305.86 |
| $500,000 | $141.86 | $185.96 | $282.96 | $582.00 |
| $1,000,000 | $269.46 | $348.56 | $527.56 | $1,085.44 |
Male – Standard Non-Tobacco – 63 years old
| Amount | 10 year Term |
15 year Term |
20 year Term |
Age 90 Guaranteed UL |
| $100,000 | $70.21 | $92.14 | $124.91 | $166.50 |
| $250,000 | $137.23 | $190.71 | $275.19 | $377.65 |
| $500,000 | $265.12 | $373.09 | $543.76 | $727.39 |
| $1,000,000 | $513.07 | $683.82 | $1,040.19 | $1,369.12 |
Closer to being 64 years old? If over 63 and a half, see age 64 quotes, since most carriers set rates by nearest age. Backdating policy to save age up to six months to save previous age is generally permitted.
Please contact me for a free confidential quote. Many more options are available.
Licensed Agent: Sean Drummey
phone: (910) 328-0447
email: spdrummey@gmail.com
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. Contact me for details.
Carriers and Products quoted:
Pacific Life Insurance Company: “PL Promise Guaranteed UL”
Protective Life Insurance Company: “Protective Lifetime Assurance UL”
The Penn Mutual Life Insurance Company: “Penn Mutual Guaranteed Protection UL”
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: 10/3/2023 – non tobacco rates; rates subject to change, quote accuracy or completeness not guaranteed