Upon reaching certain limits, electric vehicle batteries are replaced and may find a second life in various applications. However, the state of such batteries in terms of aging and safety remains uncertain when they enter the second-life market. The aging mechanisms within these batteries involve a combination of processes, impacting their safety and performance. Presently, direct health indicators (HIs) like state of health (SOH) and internal resistance increase are utilized to assess battery aging, but they do not always provide accurate indications of the battery’s health state. This study focuses on analyzing various HIs obtained through a basic charging–discharging cycle and assessing their sensitivity to aging. Commercial 50 Ah pouch cells with different aging histories were tested, and the HIs were evaluated. Thirteen HIs out of 31 proved to be highly aging-sensitive, and thus good indicators. Namely, SOH upon charging and discharging, Coulombic efficiency, constant current discharge time, voltage relaxation profile trend, voltage–charge area upon discharging, hysteresis open circuit voltage HIs, and temperature difference between the tabs upon charging. The findings offer valuable insights for developing robust qualification algorithms and reliable battery health monitoring systems for second-life batteries, ensuring safe and efficient battery operation in diverse second-life applications.