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How Much Does a $2 Million Permanent Life Insurance Policy Cost at Age 50?
- mattmims
- Dec 31, 2025
- 6 min read
If you’re 50 years old and looking for $2,000,000 of permanent life insurance, the monthly cost can vary widely depending on the carrier and policy design. Permanent life insurance—such as guaranteed universal life (GUL) and indexed universal life (IUL)—is designed to provide coverage for your entire lifetime, often guaranteeing protection to age 121 as long as premiums are paid as illustrated.
The pricing shown below reflects real, current monthly premiums from the full U.S. life insurance market, not just one state or a single carrier. These are nationwide rates available across the United States for a 50-year-old male in good health, shown to help you compare how different insurers price the same $2 million lifetime benefit.
Because permanent life insurance is structured differently than term coverage, small differences in product design and carrier underwriting can result in hundreds of dollars per month in premium differences—even at the same age and coverage amount. That’s why reviewing the full market side-by-side is critical before choosing a policy.
Monthly Cost of a $2 Million Permanent Life Insurance Policy at Age 50 (Nationwide Rates)
Carrier | Product | Monthly Cost |
Protective Life | Protective Lifetime Assurance UL | $1,484 |
Nationwide | NLG UL II | $1,650 |
North American | Protection Builder IUL 2 | $1,708 |
Pacific Life (Lynchburg) | Promise GUL | $1,740 |
Cincinnati Life | LifeSetter Flex UL | $2,062 |
Corebridge Financial | Secure Lifetime GUL 3 | $2,139 |
Banner Life | Life Step UL (Conversion Only) | $2,903 |
This chart shows the monthly cost of a $2,000,000 permanent life insurance policy at age 50, comparing pricing from multiple national life insurance carriers across the full U.S. market. The rates shown reflect lifetime coverage designs—such as guaranteed universal life (GUL) and indexed universal life (IUL)—that are intended to provide protection through age 121. This side-by-side comparison helps illustrate how monthly premiums can vary significantly by insurer, even for the same age and coverage amount, highlighting the importance of reviewing the full market before selecting a permanent life insurance policy.
What This $2 Million Permanent Life Insurance Pricing Data Shows
The chart above shows real monthly pricing for $2 million of permanent life insurance at age 50, comparing multiple top-rated U.S. life insurance carriers side by side. These policies are designed to last for life, often guaranteeing coverage to age 121, which makes them fundamentally different from term life insurance that expires after a set number of years.
One of the most important takeaways from this data is how wide the pricing range can be for the same coverage amount at the same age. Even when looking at strong national carriers offering lifetime protection, monthly premiums can differ by hundreds of dollars, resulting in tens of thousands of dollars in long-term premium differences over a policyholder’s lifetime.
This variation exists because permanent life insurance pricing depends heavily on:
How each carrier structures its guarantees
Whether the policy is designed strictly for lifetime death benefit or includes cash value features
How conservative the insurer is with long-term assumptions
How efficiently the product is priced for age-50 applicants
These differences are not visible when someone only looks at one company or one quote.
Why Comparing the Full Market Matters at Age 50
Age 50 is a critical point for permanent life insurance planning. Premiums are still relatively manageable compared to later ages, but underwriting becomes more sensitive to health history, build, and lifestyle factors. Choosing the wrong product or carrier at this stage can lock you into higher lifetime costs with no flexibility later.
Looking at the full market allows you to:
Identify which carriers are most competitive for lifetime coverage at age 50
Avoid overpaying for policies that are priced conservatively or inefficiently
Choose between guaranteed-focused designs versus accumulation-oriented designs
Match the policy structure to estate planning, income replacement, or legacy goals
This is especially important at the $2 million coverage level, where small pricing differences scale quickly.
How LifeStein Helps You Use This Data Correctly
Pricing charts like this are a starting point—not the final answer. The best policy for one 50-year-old applicant may not be the best for another, even if the coverage amount is the same. LifeStein works across the entire U.S. life insurance market to help match applicants with carriers that price their specific profile most favorably.
Instead of relying on a single company or a call-center recommendation, LifeStein compares permanent life insurance options across dozens of national insurers to identify:
Which carriers are most aggressive at age 50
Which products offer the strongest lifetime guarantees
Which designs provide the best long-term value for the premium paid
This ensures the policy you choose is based on market-wide data, not guesswork.
Why $2 Million Permanent Life Insurance Is Commonly Used for Estate Planning
At the $2 million coverage level, permanent life insurance is often used as a core estate planning tool rather than simple income replacement. Lifetime policies are frequently structured to help cover estate taxes, equalize inheritances, provide liquidity for heirs, or protect family-owned assets such as real estate or closely held businesses. Because these policies are designed to remain in force for life, they can deliver a guaranteed tax-advantaged death benefit precisely when it is needed most—regardless of market conditions or longevity risk.
Frequently Asked Questions About $2 Million Permanent Life Insurance at Age 50
1. How much does a $2 million permanent life insurance policy cost at age 50?
For a healthy 50-year-old, monthly premiums for a $2 million permanent life insurance policy typically range from the mid-$1,000s to low-$2,000s per month, depending on the carrier and policy design.
2. Why does the monthly cost vary so much between life insurance companies?
Each carrier prices lifetime guarantees differently. Some focus on lower upfront premiums, while others price more conservatively for long-term guarantees, which creates significant cost differences even for the same coverage amount.
3. Is permanent life insurance more expensive than term life at age 50?
Yes. Permanent life insurance costs more than term because it provides lifetime coverage rather than expiring after 10–30 years. Term insurance is temporary; permanent insurance is designed to pay out regardless of lifespan.
4. Why do people choose permanent life insurance for estate planning?
Permanent life insurance is commonly used to provide guaranteed liquidity at death, which helps heirs pay estate taxes, settle debts, or preserve assets without needing to sell property or investments.
5. Is $2 million enough life insurance for estate planning?
For many families, $2 million is a common starting point for estate planning, especially when used to supplement other assets like real estate, retirement accounts, or business interests.
6. Does a $2 million permanent policy help cover estate taxes?
Yes. Life insurance death benefits are often used to help offset estate tax exposure, allowing heirs to receive assets intact rather than selling them to cover tax obligations.
7. Are these life insurance prices the same in every state?
The pricing shown reflects nationwide market rates. While minor state variations exist, the overall cost ranges are consistent across the U.S.
8. What type of permanent life insurance is best for estate planning?
Policies focused on guaranteed death benefit, such as guaranteed universal life (GUL), are often favored for estate planning because they prioritize certainty over cash accumulation.
9. Does permanent life insurance always last until death?
When structured correctly and funded as illustrated, permanent life insurance policies are designed to remain in force for life, often guaranteeing coverage through age 121.
10. Why is age 50 a key time to buy permanent life insurance?
At age 50, premiums are still relatively manageable, but underwriting becomes more sensitive. Locking in coverage earlier helps avoid significantly higher costs later.
11. Can permanent life insurance help equalize inheritances?
Yes. Life insurance is commonly used to provide cash to one heir while allowing others to inherit illiquid assets like real estate or a family business.
12. How long do I have to pay premiums on a permanent policy?
Premium structures vary. Some policies require lifetime payments, while others are designed with limited-pay structures depending on funding strategy and goals.
13. Is a $2 million policy common for business owners?
Yes. Business owners often use permanent life insurance to fund buy-sell agreements, protect partners, or create liquidity for succession planning.
14. Does permanent life insurance avoid probate?
Life insurance death benefits typically pass directly to beneficiaries, bypassing probate and providing faster access to funds.
15. What happens if I live longer than expected?
Permanent life insurance is specifically designed to address longevity risk. Unlike term insurance, it does not expire, regardless of how long you live.
16. Can permanent life insurance protect my heirs from market risk?
Yes. The death benefit is contractually guaranteed and not dependent on stock market performance, making it a stable estate planning tool.
17. Is cash value the main reason people buy permanent life insurance?
Not always. Many buyers focus primarily on the guaranteed death benefit, especially for estate and legacy planning, rather than cash accumulation.
18. Should I compare multiple carriers before choosing a policy?
Absolutely. As shown in the pricing data, monthly costs can vary by hundreds of dollars, making full-market comparison critical for long-term value.
19. Can I change permanent life insurance later if I choose the wrong policy?
Permanent policies are difficult and costly to replace later. That’s why selecting the right carrier and structure upfront is so important.
20. How do I know which $2 million permanent life policy is right for my estate plan?
The right policy depends on your goals—tax planning, legacy creation, asset protection, or business succession. Reviewing the full market ensures the policy aligns with your long-term estate strategy.
Matt Mims
Founder of LifeStein.com, A National Life Insurance Broker
Call/Text (601)-218-7854