Best 10 Year Term Life Insurance Rates In Your Sixties (60s)

Best 10 Year Term Life Insurance Rates In Your Sixties (60s) 2024

Once you reach your sixties, the children are typically grown and you may just be looking to protect your income for the next 10 years or so until you retire. Also, you may want to cover any outstanding mortgage balance. The good news is that if you are in average to good health the rates will typically be affordable, especially since it is a ten year term.

Below I will show you the best life insurance rates for someone in their sixties (60’s) looking for a 10 year term policy.

Why choose a 10 year term policy?

A 10 year term life insurance policy is ideal for those needing protection for a shorter period of time, ten years or less.

Also, according to the Social Security Administration (SSA) and their actuarial life table, the life expectancy for males is 76 years old and 81 years old for females.

Example term life insurance rates in your forties (60-69)

Average cost per month

10 year term- Males

60 Year Old Male$30.04$60.00$109.14$206.36
61 Year Old Male$35.06$66.44$121.27$232.25
62 Year Old Male$40.29$73.91$135.69$258.42
63 Year Old Male$41.41$82.95$150.14$285.36
64 Year Old Male$48.46$92.90$168.00$324.07
65 Year Old Male$52.54$100.93$188.63$355.69
66 Year Old Male$58.00$114.98$208.60$394.27
67 Year Old Male$63.80$130.02$231.42$438.56
68 Year Old Male$70.39$141.16$252.63$486.74
69 Year Old Male$78.34$159.17$281.02$539.23
Male life insurance rates for ages 60-69 for a 10 year term

*Best monthly rates, D.O.B. 8/1. Rates for top health class.

10 year term- Females

60 Year Old Female$24.36$41.71$72.57$136.01
61 Year Old Female$26.10$47.38$79.58$154.06
62 Year Old Female$28.00$51.63$88.08$166.11
63 Year Old Female$30.80$52.52$97.82$186.55
64 Year Old Female$32.70$62.25$108.90$200.15
65 Year Old Female$37.82$66.63$121.83$223.10
66 Year Old Female$39.09$75.85$133.14$242.00
67 Year Old Female$43.67$84.14$145.88$262.20
68 Year Old Female$48.76$93.70$158.87$285.15
69 Year Old Female$54.40$103.43$176.31$317.45
Female life insurance rates for ages 60-69 for a 10 year term

*Best monthly rates, D.O.B. 8/1. Rates for top health class.

How much life insurance does someone in their 60s need?

Once you reach your sixties the need for life insurance typically is reduced compared to someone younger that still needs to raise their kids and have many more working years ahead of them. For these reasons those in their 60’s are more looking to replace income, cover an outstanding mortgage balance and cover final expenses.

Most life insurance companies allow an applicant in their sixties up to ten times their annual income in total life insurance. Whether you need one hundred thousand dollars or one million, the answer will be different for every person.

For a more detailed needs analysis, you can use our life insurance needs calculator.

Do I need a medical exam?

When applying for life insurance in your sixties (60s) most life insurance companies will require a 30-minute no-cost paramed exam. However, there are a few insurers that will allow you to skip the medical exam if you have had checkup with labs at your doctor in the last twelve months.


The underwriting for a life insurance policy in your 60s is going to depend on the amount of coverage you are applying for as well as:

  • Height and weight
  • Health history
  • Tobacco usage
  • Driving record
  • Last time had a checkup
  • Dangerous avocations

How to secure the best life insurance policy in your forties (60s)

The best way to secure the lowest rates on a 10 year term life insurance policy in your forties 60s is to compare rates from multiple life insurance companies. Each life insurance company has their own prices as well as unique underwriting guidelines.

Some life insurance companies have much more favorable underwriting guidelines for: height and weight, health history, family history, tobacco use, avocations, travel, etc. You can potentially save thousands of dollars or more by just comparing rates from at least half a dozen to a dozen of the top life insurance companies before you apply.

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