Final expense insurance was built for seniors. While term life gets harder to buy and more expensive every year after 60 – and often isn’t available at all past 75 – final expense carriers issue new policies through age 85, with no medical exam and no income requirements.
Whether you’re 62 and planning ahead, 74 and just realized your group life coverage ended at retirement, or 83 and want to make sure your kids aren’t stuck with a funeral bill, there’s a policy available. The premium is fixed for life, the coverage never expires, and the benefit is paid to your family in days.
TermHero is an independent agency in Calabasas that specializes in helping Los Angeles seniors compare final expense options. We don’t work for one carrier, so we can tell you honestly which company gives you the best deal at your age and health.
Final Expense Options by Age
In Your 60s
This is the sweet spot. Premiums are still moderate, and nearly every carrier and policy type is available. A healthy 65-year-old can get $15,000 of simplified issue coverage for roughly $55-80 a month. Many people in their 60s also still qualify for larger term life or no-exam policies – we’ll compare both.
In Your 70s
Term life becomes expensive or unavailable, and final expense becomes the practical choice. Simplified issue is still available to most applicants, and coverage of $10,000-$25,000 typically costs $70-$200 a month depending on age and gender. Buying earlier in the decade locks in a lower rate for life.
At 80 and Above
Most carriers issue final expense coverage through age 85 (a few to 89). Premiums are higher – $10,000 of coverage for an 82-year-old runs $130-$220 a month – but it’s still the only permanent coverage widely available at this age. Coverage amounts may be capped at $10,000-$25,000.
Why Seniors Choose Final Expense Insurance
- You can actually buy it – Available through 85 when other policies aren’t
- No medical exam – No needles, no nurse visit; a few questions, or none at all
- Premiums never rise – Fixed at the age you buy, for life
- It never expires – Unlike term life, there’s no end date to outlive
- Your family gets cash fast – Paid directly, tax-free, no probate
- Fits a fixed income – Choose a coverage amount that keeps the premium comfortable
- Health conditions accepted – Diabetes, heart history, and more with simplified issue; anything with guaranteed acceptance
Sample Final Expense Rates for Seniors
Monthly rates for $10,000 of simplified issue coverage, non-smoker:
| Age | Female | Male |
|---|---|---|
| 60 | $28-40 | $35-48 |
| 65 | $35-50 | $44-62 |
| 70 | $45-68 | $57-82 |
| 75 | $62-92 | $78-115 |
| 80 | $85-125 | $108-160 |
| 85 | $120-180 | $150-225 |
Guaranteed acceptance (no health questions) runs roughly 30-50% more. Full details in our final expense cost guide.
Will I Qualify as a Senior?
Almost certainly. Here’s how it typically breaks down:
- Generally healthy, or managing common conditions (diabetes, blood pressure, cholesterol, arthritis) – Simplified issue, full coverage from day one
- Serious or recent conditions (cancer treatment, dialysis, oxygen, dementia, recent heart attack or stroke) – Guaranteed acceptance, no health questions, two-year graded period
- In a nursing home or on hospice – Guaranteed acceptance with select carriers
The only people who can’t get final expense coverage are those above the carrier’s maximum issue age – usually 85 – which is why we encourage families not to wait.
Frequently Asked Questions
Can I get final expense insurance at 80? Yes. Most carriers issue new policies through age 85; a few through 89.
Is final expense insurance better than term life for seniors? For most people over 70, yes – term life is often unavailable or very expensive, and it expires. For people in their 60s who need $100,000+ to protect a spouse or mortgage, term or no-exam life may still be the better buy. We’ll compare both.
Does my premium go up as I age? No. It’s fixed at issue. That’s why buying at 65 rather than 75 saves money every month for the rest of your life.
I’m on Medicare and Social Security. Will this affect my benefits? Final expense premiums are paid from your income like any other bill and the policy doesn’t affect Medicare or Social Security. If you receive Medi-Cal or SSI, call us – we’ll walk through how a policy’s cash value is treated.
Can my kids buy the policy for me? Yes, with your consent and signature. See final expense insurance for parents.
What about my AARP or TV-advertised policy? Those are usually guaranteed acceptance policies from a single carrier. They’re legitimate, but often 30-50% more expensive than a simplified issue policy you’d qualify for. It’s worth a five-minute comparison.
Related Coverage
- Final Expense Insurance – The complete guide
- Life Insurance for Seniors – Term, no-exam, and permanent options for 50+
- Guaranteed Acceptance Final Expense – No health questions
- Final Expense for Parents – Helping adult children buy coverage for a parent
Get a Senior Final Expense Quote
Talk to a licensed agent who works with seniors every day. We’ll compare carriers, explain your options plainly, and never pressure you. Free and no obligation.