Guaranteed Universal Life Insurance Rates for 59 Year Olds

This article will provide sample guaranteed universal life insurance rates for 59 year olds. We will also look at some issues facing people shopping for life insurance in their late 50s.  If you aren’t familiar with this relatively new product – guaranteed universal life insurance (GUL) – and would like to learn more, please read our review of GUL here.

Use Our Quote Engine on this Page to See Instant Quotes for Term and Guaranteed Universal Life Insurance (Lifetime)

If you are 59 years old (or close to it), then this is a good time to shop for life insurance.  Rates increase as we age and it can be important to lock in lower rates prior to the age of 60.  Additionally, once you reach the age of 60, there are fewer choices available to you. For example, only one company offers a 30-year term policy to people in their late 50s.  They do not offer 30-year term to people past the age of 59.

“Insurance Age” – Are you a 59 year old or a 60 year old?

The vast majority of life insurance companies base their rates on your nearest birthday.  Let’s say you turned 59 on Jan 1, then according to most insurance carriers, your rate will be calculated as a 60 year old after July 1.   Only a few carriers use your actual age when calculating rates.  However, almost all carriers that use your Nearest Birthday will also allow you to  “backdate to save age”.  Backdating (also known as “saving age”) allows you to lock in lower rates based on a younger age.

Using the example above, if you were to apply for a policy October 1, you could backdate the policy three months to lock-in the lower rates.  Most carriers allow backdating up to six months.  Backdating a policy becomes more important for applicants in their 50s and 60s. There isn’t much of a difference in rates between a 29 year old and 30 year old.  However, the premium difference between ages 59 and 60 can be significant.

Saving Age Can Save Premium – Evaluate Your Options

Check out the rates for 60 year olds if you are closer to age 60 than age 59.   If you are approaching the mid-way point between birthdays (or if you’re approaching your next birthday soon), it could behoove you to expedite the process and evaluate your options.  It could be a smart move to backdate a policy for 3 months, even though you would need to pay the additional months premium. If your premium would increase by $100 per year without backdating, then it could be well worth paying the extra premium.  Would you rather pay an extra $500 (as an example) to save age or an extra $80 per year for the next 25 or more years?

Purchasing Life Insurance at Age 59 – It’s not always about crunching the numbers.

For some folks, purchasing life insurance could be a matter of replacing an expiring term policy for 10 or 15 more years.  For others, they want a death benefit specifically earmarked for final expense needs.

However, purchasing life insurance at age 59 isn’t necessarily a result of number crunching or an updated financial plan.  Many people simply want some life insurance that doesn’t expire because they are concerned that things might not play out as expected. Perhaps they are somewhat conservative and want to ensure their loved ones are protected financially regardless of when they die.  None of us knows what type of health or financial setbacks could occur.

Affordable Guaranteed Universal Life Insurance Rates for 59 Year Olds

The rates in the tables below are for non-tobacco users only.  To see tobacco rate (which are close to double the premium), use our instant quote engine on this page.  Choose “Lifetime” in the drop down box for Product Type to see rates for guaranteed universal life insurance.


  • Preferred Non-tobacco (2nd best rate class) and Standard Non-tobacco (average to good health).
  • Guaranteed age: 100.
  • Monthly rates rounded
Male             Face Amount $50,000 $100,000 $250,000 $500,000
59 year old – Preferred Rates $82 $135 $324 $629
59 year old – Standard Rates $97  $161 $385 $770


  • Preferred Non-tobacco (2nd best rate class) and Standard Non-tobacco (average to good health).
  • Guaranteed age: 100.
  • Monthly rates rounded
Female             Face Amount $50,000 $100,000 $250,000 $500,000
59 year old – Preferred Rate $70 $114 $268 $520
59 year old – Standard Rate  $80  $134 $308 $606


GUL:  AKA No-Lapse Universal Life / Term for Life / Term to 100

Guaranteed Universal Life insurance is a relatively new product that was introduced in the early 2000s by several carriers.  Since many traditional universal life policies were sold improperly in the 1980s and 90s, companies wanted to distinguish GUL from it’s predecessor.  It is not uncommon to encounter people who purchased a UL policy in the 80s that was illustrated at unrealistically high interest rates.  Many of these people received letters stating that their policy would lapse if they didn’t pay a much higher premium.

No-lapse Universal Life is another name for GUL. The “no-lapse” name assures people that there won’t be any unexpected letters informing them that their policy might lapse.  This UL policy is different.  Just like term insurance, the premiums are guaranteed to stay level regardless of interest rates.  There is no investment (cash value) component. Additionally, the death benefit is guaranteed to stay level.

Carriers (and marketing people) named GUL “Term for Life”, “Term to Age 100” and “Term that Doesn’t Expire” as a way to help people understand this product is different from other types of universal life insurance.

Caution:  The names, Term for Life and Term that Doesn’t Expire, can be misleading.  Companies allow you to determine the guarantee age of the policy, which can range from age 90 to age 121.  It is possible to outlive your GUL policy.

We highly encourage selecting a GUL policy with a dial-in age of at least 100.  Of course, the higher the guaranteed age, the higher the policy premium.  If you would like to see different guarantee ages, we can easily provide that for you.

How to Choose the Best Guaranteed Universal Life Policy

Finding a low, affordable rate is one of the top priorities.  We understand that.  There are other criteria to consider when comparing GUL policies.  We provide a quick synopsis of those criteria below.

  • Carrier Financial Ratings:  Companies with low financial ratings are much more likely to become insolvent.  It is important to look for carriers with high ratings from the independent rating agencies such as AM Best,  Standard & Poor’s,  and Moody’s.
  • Riders:  Some riders are worth considering and others really don’t provide good value.  A fairly new rider only offered by a couple of companies is an long term care insurance rider.  This rider could make good sense for people in their 50s and early 60s.  It is an alternative to a stand-alone LTCi policy.
  • Policy Provisions:  This is an important and often overlooked criterion.  Some carriers offer built-in provisions such as a Return of Premium Benefit or a Chronic Illness Benefit at no extra cost.  Most companies offer similar benefits, but only as a rider.

Concluding Thoughts

We realize there is a lot of information here, so please feel free to contact us with any questions you might have.  Our quote calculator on this page is a quick and easy way to see rates, but we are also glad to prepare customized quotes based on your health and unique situation.

About Peachtree Insurance Advisors
About Peachtree Insurance Advisors

We work with individuals across the nation to secure the best life insurance rates.

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