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How Much Does a $5 Million Term Life Insurance Policy Cost at Age 50?
- mattmims
- 7 minutes ago
- 8 min read
Shopping for $5,000,000 of term life insurance at age 50 is very different than buying a smaller policy. At this coverage level, even small differences in underwriting, carrier appetite, or product structure can move your price by thousands of dollars per year.
The charts below show real, current monthly pricing from the full U.S. life insurance market for a 50-year-old male. These are not estimates or averages — they reflect what major carriers are actually offering today for 10-, 15-, 20-, 25-, and 30-year term lengths.
Rates at age 50 are heavily influenced by:
Height and weight
Overall health history
Family medical history
Whether any form of nicotine is used
The specific carrier underwriting the policy
Because of that, the “cheapest company” on paper is not always the cheapest company for you.
LifeStein works with 50+ top-rated life insurance companies, including Protective, Banner Life, Symetra, Corebridge, Pacific Life, Principal, MassMutual, Nationwide, and many more. Instead of locking you into one carrier, we shop the entire market to match you with the company that best fits your exact profile, not a generic rate class.
Use the charts below to understand today’s market range, then click Request a Quote to see what your actual pricing looks like based on your own height, weight, and health.
$5 Million 10-Year Term Life Insurance Rates for a 50-Year-Old Male
Carrier | Product | AM Best | Monthly |
Symetra | SwiftTerm Instant Issue | A | $319.63 |
Principal | Term (Non-Convertible) | A+ | $323.54 |
Protective | Classic Choice Term | A+ | $321.34 |
Corebridge | Select-a-Term | A | $321.56 |
Pacific Life | Promise Term | A+ | $323.56 |
Symetra | Term 5.0 | A | $333.10 |
Principal | Term (Convertible) | A+ | $330.52 |
Banner Life | OPTerm | A+ | $339.78 |
Lincoln | LifeElements Level Term | A | $345.50 |
Nationwide | Guaranteed Level Term | A+ | $352.19 |
North American | ADDvantage Term Gen 9 | A+ | $375.32 |
Prudential | Essential Term Value | A+ | $374.94 |
Cincinnati Life | Termsetter | A+ | $381.52 |
MassMutual | MassMutual Term | A++ | $411.08 |
Minnesota Life | Advantage Elite Select | A+ | $426.36 |
National Life | LSW 10-G | A+ | $455.40 |
John Hancock | Vitality Term | A+ | $511.34 |
Assurity | Term Life | A- | $554.19 |
This chart shows current monthly rates for $5 million 10-year term life insurance for a healthy 50-year-old male. Prices vary by carrier based on underwriting guidelines, product design, and financial strength ratings, which is why comparing the full market matters.
$5 Million 15-Year Term Life Insurance Rates for a 50-Year-Old Male
Carrier | Product | AM Best | Monthly |
Banner Life | OPTerm | A+ | $471.62 |
Symetra | SwiftTerm Instant | A | $471.91 |
Principal | Term (Non-Convertible) | A+ | $479.41 |
Corebridge | Select-a-Term | A | $474.68 |
Protective | Classic Choice | A+ | $478.84 |
Pacific Life | Promise Term | A+ | $480.91 |
Lincoln | LifeElements | A | $507.84 |
Prudential | Essential Term Value | A+ | $536.82 |
Nationwide | Guaranteed Level Term | A+ | $575.31 |
Minnesota Life | Advantage Elite Select | A+ | $602.36 |
John Hancock | Protection Term | A+ | $615.56 |
MassMutual | Term ECP | A++ | $702.53 |
Assurity | Term Life | A- | $706.44 |
This chart compares monthly costs for $5 million 15-year term life insurance for a 50-year-old male across major U.S. life insurance companies. Longer term lengths increase pricing, making carrier selection critical at higher coverage amounts.
$5 Million 20-Year Term Life Insurance Rates for a 50-Year-Old Male
Carrier | Product | AM Best | Monthly |
Banner Life | OPTerm | A+ | $615.82 |
Symetra | SwiftTerm Instant | A | $617.72 |
Protective | Classic Choice | A+ | $619.56 |
Principal | Term (Non-Convertible) | A+ | $627.01 |
Pacific Life | Promise Term | A+ | $626.22 |
Lincoln | LifeElements | A | $678.15 |
Nationwide | Guaranteed Level Term | A+ | $702.19 |
Cincinnati Life | Termsetter | A+ | $698.39 |
MassMutual | MassMutual Term | A++ | $754.73 |
Minnesota Life | Advantage Elite Select | A+ | $817.96 |
United of Omaha | Term Life Answers | A+ | $861.08 |
Assurity | Term Life | A- | $919.59 |
This chart displays monthly pricing for $5 million 20-year term life insurance for a 50-year-old male. Rates differ significantly between carriers due to underwriting philosophy and long-term risk assumptions, especially at multi-million-dollar face amounts.
$5 Million 25-Year Term Life Insurance Rates for a 50-Year-Old Male
Carrier | Product | AM Best | Monthly |
Banner Life | OPTerm | A+ | $972.26 |
Protective | Classic Choice | A+ | $974.40 |
Corebridge | Select-a-Term | A | $969.00 |
Pacific Life | Promise Term | A+ | $981.09 |
Cincinnati Life | Termsetter | A+ | $1,053.29 |
MassMutual | MassMutual Term | A++ | $1,202.78 |
Foresters | Your Term | A | $1,244.26 |
MassMutual | Term ECP | A++ | $1,263.68 |
This chart outlines monthly premiums for $5 million 25-year term life insurance for a 50-year-old male. At this term length, pricing spreads widen, making side-by-side carrier comparison essential before applying.
$5 Million 30-Year Term Life Insurance Rates for a 50-Year-Old Male
Carrier | Product | AM Best | Monthly |
Banner Life | OPTerm | A+ | $1,161.40 |
Symetra | SwiftTerm Instant | A | $1,162.75 |
Protective | Classic Choice | A+ | $1,169.55 |
Corebridge | Select-a-Term | A | $1,163.06 |
Pacific Life | Promise Term | A+ | $1,181.41 |
Principal | Term (Non-Convertible) | A+ | $1,216.90 |
Lincoln | LifeElements | A | $1,235.76 |
Nationwide | Guaranteed Level Term | A+ | $1,319.06 |
Cincinnati Life | Termsetter | A+ | $1,323.69 |
MassMutual | MassMutual Term | A++ | $1,498.58 |
United of Omaha | Term Life Answers | A+ | $1,510.38 |
Assurity | Term Life | A- | $1,606.89 |
This chart shows monthly rates for $5 million 30-year term life insurance for a 50-year-old male. Thirty-year terms represent the highest long-term risk for insurers, which is why prices vary widely and product selection matters.
What These $5 Million Term Life Insurance Charts Show
The charts above highlight one important truth about buying $5 million of term life insurance at age 50:pricing is not uniform, even among top-rated carriers.
For the same age and coverage amount, monthly rates can vary by hundreds of dollars per month depending on the company underwriting the policy. That gap widens as the term length increases, especially on 20-, 25-, and 30-year terms where insurers are taking on long-term risk.
A few key takeaways from the data:
1. Carrier selection matters more than term length alone
Many people assume the biggest driver of price is simply choosing a 10-year versus a 30-year term. While term length does matter, carrier underwriting philosophy often matters more. Two companies offering the same term length can be priced very differently for the exact same applicant.
2. Large face amounts are underwritten differently
At the $5 million level, life insurance companies are far more selective than they are on smaller policies. Carriers evaluate build, labs, medical records, lifestyle factors, and long-term mortality assumptions more closely, which is why some insurers consistently price better than others in this range.
3. Monthly pricing tells the real story
Looking at monthly cost — rather than annual figures — makes it easier to compare carriers apples-to-apples. It also shows how quickly premiums rise as you extend the term length at age 50.
4. The “cheapest” company changes by person
The lowest-priced carrier in these charts may not be the lowest-priced carrier for you. Height, weight, medical history, prescription use, and any nicotine exposure can completely change which insurer ends up on top.
Why Work With LifeStein for Large Life Insurance Policies
Most online quote sites only show a handful of companies or automatically steer large policies toward a single carrier. That approach often leaves money on the table.
LifeStein is built specifically to shop high-limit life insurance policies across the full market. We work with over 50 top-rated life insurance companies and understand which carriers are most competitive for large face amounts like $5 million.
When you request a quote through LifeStein:
Your information is reviewed by a licensed agent, not a call center
The market is shopped based on your actual profile, not averages
You see real carrier options, not sponsored results
There’s no pressure, no spam, and no obligation
If you’re serious about securing a $5 million term life insurance policy at age 50, the smartest next step is to let the market work in your favor.
Use the Request a Quote button to see which companies are actually best for you.
Why $5 Million Term Life Insurance Gets More Expensive After Age 50
At age 50, life insurance pricing starts to shift in a way many people don’t expect. It’s not just about being older — it’s about how long insurance companies may be on the hook for a large payout.
When you apply for a $5 million term life insurance policy at 50, carriers are pricing decades of future risk. A 20- or 30-year term could extend coverage into your 70s or 80s, which dramatically changes how insurers evaluate the policy.
Several things happen at this stage:
Long-term mortality risk becomes a bigger factor in pricing
Preferred underwriting categories tighten
Small health details carry more weight than they did in your 40s
Fewer carriers aggressively compete at large face amounts
This is why the charts above show relatively tight pricing at shorter terms, but much wider spreads as term length increases. Some insurers pull back at higher ages and coverage levels, while others remain competitive — but only for very specific applicant profiles.
The result is a market where choosing the right carrier matters more than choosing the term alone.
That’s also why many people overpay when they rely on single-carrier quotes or generic online tools. Without comparing the full market, it’s easy to miss the companies that are still aggressively priced for large policies at age 50.
Understanding how pricing changes at this age allows you to make a smarter decision — whether that’s locking in a shorter term now or finding the right carrier for long-term coverage.
Frequently Asked Questions About $5 Million Term Life Insurance at Age 50
How much does a $5 million term life insurance policy cost at age 50?
For a healthy 50-year-old male, monthly costs generally range from the low $300s on a 10-year term to over $1,600 per month on a 30-year term, depending on the carrier and term length.
What is the cheapest term length for a $5 million policy at age 50?
The 10-year term is consistently the least expensive option at age 50, with significantly lower monthly premiums than longer terms.
Why does a 30-year $5 million term policy cost so much more at age 50?
A 30-year term extends coverage into your late 70s or early 80s, which dramatically increases long-term risk for insurers and results in much higher pricing.
Is a 20-year or 25-year term better for a 50-year-old buying $5 million of coverage?
A 20-year term is often the best balance between cost and duration, while 25-year terms tend to show a sharper price jump with fewer competitive carriers.
Do life insurance rates vary a lot by company at the $5 million level?
Yes. At high face amounts like $5 million, pricing differences between carriers can be hundreds of dollars per month for the same age and term length.
Which life insurance companies are most competitive for $5 million policies at age 50?Companies like Banner Life, Symetra, Protective, Corebridge, Pacific Life, and Principal frequently appear among the lowest-priced options depending on term length.
Are these $5 million rates based on monthly payments?
Yes. The charts and pricing comparisons shown are based on monthly premium payments, which makes it easier to compare carriers side by side.
Can I qualify for these rates if I have minor health issues?
Possibly. Many applicants with well-controlled or minor health conditions still qualify for competitive pricing, though the cheapest carrier may change based on underwriting.
Does height and weight affect $5 million life insurance pricing at age 50?
Yes. Build is a major underwriting factor at this age and coverage level, and it can significantly impact which carrier offers the best rate.
Do life insurance companies underwrite large policies differently than small ones?
Yes. At $5 million, insurers scrutinize applications more closely and apply stricter underwriting standards than they do for smaller policies.
Why do some carriers disappear at longer term lengths?
As term length increases, fewer insurers are willing to take on long-term risk at age 50, which reduces competition and raises prices.
Is it better to apply with one company or compare the entire market?
Comparing the full market is critical. Relying on one carrier often results in higher premiums, especially for large face amounts.
Can a $5 million term policy be approved without a medical exam?
At this coverage amount and age, most carriers require some level of underwriting, though select products may streamline parts of the process.
Does state of residence affect $5 million term life insurance pricing?
Yes. Rates can vary slightly by state due to regulatory differences and carrier pricing structures.
Is it common to layer multiple term policies instead of buying one $5 million policy?
Some applicants use term layering strategies, but a single $5 million policy is often simpler and cleaner for estate and income protection planning.
Why do prices increase so sharply after age 50?
Insurers begin pricing for long-term mortality risk more aggressively after 50, especially on policies that extend into later retirement years.
Are the cheapest companies always the best companies?
Not necessarily. Financial strength, product features, and underwriting fit all matter in addition to price.
How long are these $5 million term rates locked in?
Once approved, term life insurance premiums are level and guaranteed for the entire term length selected.
What happens when a $5 million term policy expires?
Coverage ends at the conclusion of the term unless the policy is converted or replaced, which is why term selection matters at age 50.
What is the smartest next step after reviewing these charts?
The smartest step is to request a personalized quote so carriers can be matched to your specific height, weight, health, and coverage goals.
Matt Mims
CEO/Founder of LifeStein.com
(601)-218-7854 (call/text)