How Much Is Term Life Insurance For 62 Year Old? 
$ 250,000 of 20 year Term life insurance for a very healthy 62 year old male will run between $ 150 to $ 250 per month . At age 62 , selecting a shorter term will cut the rate down drastically . However , to get a term length beyond 30 year Term is very rare at age 62 . To get longer coverage , you most likely have to take Universal Life with a guarantee to not lapse before a certain age . Unless you absolutely know that you will only need your policy for a limited number of years , taking the Universal Life option is a much safer way to go . If you were to buy a 20 year Term policy , get cancer at age 81 , and then live to age 85 , you most likely will be unable to afford the annually renewable premiums AND be unable to qualify for the amount of life insurance you want . If you can qualify for Preferred rates at age 62 , chances are you are going to live a long time . It is easier to lock your rate in for a long time now , than it will be to get a new , affordable policy when the term runs out . So do n't cheat yourself ; get a policy that will still be in effect when you die . 