Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jun 9, 2021

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The Brief

  • Baby boomers are currently between the ages of 57 and 75
  • There are several types of life insurance specifically geared toward seniors in this age group
  • The most affordable life insurance for baby boomers is a term life insurance policy
  • The best policy for those in poor health is a guaranteed life insurance policy

If you are part of the baby boomer generation, you need to take the time to learn more about life insurance for baby boomers.

Keep reading to learn about the different whole and term life insurance policies available and how to find the most affordable coverage for your life.

Are you ready to buy life insurance for baby boomers? We will help you find the right policy at the right price. Enter your ZIP code above to compare quotes from local companies for free.

Do I need life insurance as a baby boomer?

Life insurance is a good investment for people of all ages, baby boomers included. Purchasing a life insurance policy can help ensure that your family is cared for after you pass away.

That can mean that your bills are paid off, that your partner and family can maintain their lifestyle, and even fund your own final wishes for burial.

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What is the best life insurance policy for baby boomers?

According to Census.gov, baby boomers are all within the age range of 57 to 75. Luckily, there are many life insurance policies designed specifically for seniors that will work well for them.

Some of the most popular policies for seniors include:

  • Final expense whole life insurance
  • Term life insurance
  • Burial insurance
  • Guaranteed life insurance

Term life insurance is ideal for all seniors under the age of 70 and offers affordable, variable coverage. If you are looking for life insurance quotes over 60, your best option is a shorter-term policy or burial insurance.

Short-term and burial coverage is much less expensive than term policies, but it’s an affordable option if you want basic coverage for your final wishes.

For those in poor health searching for baby boomer quotes, guaranteed life insurance is the final option. Guaranteed life insurance accepts all who apply. However, they offer lower coverage and much higher monthly rates compared to other policies.

Who offers the most affordable life insurance for baby boomers?

Without question, the most affordable life insurance option for seniors is term life insurance. You can get variable amounts of coverage; that way, you can arrange for specific bills to be paid.

Life insurance quotes over 50 are still competitive with term policies, especially compared to the final expense and guaranteed whole life policies.

Here are some term life insurance rates for baby boomers from Mutual of Omaha and Gerber Life.

Gerber Life vs. Mutual of Omaha Average Monthly Life Insurance Rates for $200,000 Coverage
CompanyAverage Monthly Rates
Mutual of Omaha$110.47
Gerber Life$155.00
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Your next most affordable option is going to be burial insurance. These policies are more affordable than others because of their lower coverage amounts.

The most important thing to remember when you set out to buy life insurance for baby boomers is to compare quotes. Take the time to look at policies from multiple companies and request customized quotes to get a better idea of how much you will pay before you make your decision.

Start comparing life insurance quotes for baby boomers right here for free. Enter your ZIP code below, and we will help you compare rates today.