You're using an old version of Internet Explorer. Please upgrade to IE 11 or above; or try using a different browser

Skip to Search
Skip to Content

Life Insurance for 55-Year-Old Male

Term life insurance is one of the most affordable life insurance products on the market, making it a popular option for people who want to better plan for their family’s financial future. Here, we examine what a 55-year-old male can expect from a term life insurance policy.

Understanding term life

A life insurance policy pays out a pre-determined sum of money to an appointed beneficiary upon the policyholder’s death. It is common for people to purchase a life insurance policy when they get married, have children or start a business to help ensure their dependents are financially provided for after their death.

There are two main categories of life insurance: term life and whole life.[1] Whole life insurance remains in effect for the entirety of a person’s life, typically making it a more expensive product than term life insurance.

Term life insurance expires after a certain amount of time (or term). Term life insurance has numerous term options, making it a good life insurance option for individuals who are looking for flexibility and affordability. A 55-year-old male can usually choose from terms that range from one to 30 years.

Types of term life policies from AIG Life Insurer Companies

AIG Life Insurer Companies offers four types of term policies to fit your needs:

  • Level term. Your premium stays the same for the life of the policy, as does the benefit amount. The longer the policy, the higher the premium will likely be. Level premiums make budgeting more predictable.

  • Renewable term. Premiums and benefits are based on your current age. Policies are typically shorter term (one to five years), but, as the name suggests, can be renewed.

  • Convertible term. These terms offer additional flexibility, depending on your needs. You have the option to convert the policy to a permanent policy during a specified period of time.
    Unlike term policies, permanent policies can accrue cash value that can be withdrawn or borrowed against. Keep in mind your premium will increase after you convert.

  • Return of premium (ROP) term. Unlike a traditional term policy that pays out nothing if you outlive it, a return of premium policy will refund your premiums (excluding fees and administrative costs). There’s no medical exam required, but premiums tend to be expensive.

The type of term life policy you’ll be approved for depends on numerous factors, including your age, health and lifestyle. Although a healthy 55-year-old male may have the option to purchase a fully underwritten policy, a less healthy 55-year-old male who smokes may be rejected for the same policy.

Get a quote

Call 866-971-4232 to get your free term life insurance quote. Agents are available and happy to help you find the right policy for you, your needs and your budget!

[1] Source:

Agency services provided by AIG Direct Insurance Services, Inc. ("AIG Direct"), CA license # 0B57619 and AR license # 0100105378, a subsidiary of American General Life Insurance Company ("AGL"), Houston, TX and an affiliate of The United States Life Insurance Company in the City of New York ("US Life"), New York, NY, all members of American International Group ("AIG").

Policies issued by: American General Life Insurance Company (AGL), Policy Forms: ICC15-15532, 15532, 15532-5, 15532-10. Rider Numbers: ICC15-15200, ICC15-15201, 15200, 15200-10, 15200-35, 15201, 15201-9, 15201-10 and 15201-35except in New York where issued by The United States Life Insurance Company in the City of New York (US Life), Policy Form Number: 15532N. Issuing companies AGL and US Life are responsible for financial obligations of insurance products and are members of American International Group, Inc. (AIG).

Products may not be available in all states and product features and rates may vary by state. Guarantees are backed by the claims-paying ability of the issuing insurance company. Each issuing insurance company is responsible for financial obligations of their respective insurance. For all companies mentioned, their financial professionals and other representatives are not authorized to give legal, tax or accounting advice. For advice concerning your individual circumstances, consult a professional attorney, tax advisor or accountant.

AGLCXXXXXX ©2018 AIG. All Rights Reserved.

Speak with a licensed agent


Related Information

Life Insurance Policies With No Medical Exam

What if you could get a life insurance policy without taking medical exams? There are types of life insurance plans that can help you do just that.

Read More

Finding Guaranteed Issue Life Insurance

If you have been denied life insurance coverage due to your health, consider a Guaranteed Issue Whole Life Insurance policy from AIG Life Insurer

Read More

Is Whole Life Insurance Worth It?

Here are eight scenarios in which whole life insurance may be worth it for you.

Read More

Guaranteed Life Insurance: No Health Questions Asked

What if you didn't have to worry about being approved for a life insurance policy? With guaranteed issue life insurance, you don't have to.

Read More

Life Insurance Coverage with No Health Questions, Guaranteed

If you have been denied life insurance coverage due to your health, consider Guaranteed Issue Whole Life Insurance with no health questions required.

Read More

Life Insurance Is Affordable for Many

AIG Life Insurer Companies have several life insurance options to meet a range of budgets. Get your free life insurance quote today.

Read More