Getting older doesn’t mean getting life insurance is impossible or unaffordable. Whether you’re 50 and want to lock in rates before they increase, 65 and planning for final expenses, or 75 and looking for guaranteed acceptance coverage, TermHero has options for you.
We work with carriers that specialize in senior coverage and know which companies offer the best rates for your age and health profile.
Coverage Options by Age
Ages 50-59
You’re still in a strong position to get excellent rates on both term and permanent coverage. This is often the last opportunity to lock in affordable 20 or 30-year term policies. Don’t wait – rates increase significantly with each passing year.
Ages 60-69
Term life options narrow (most carriers cap term policies at age 65-70), but 10 and 15-year terms are still available and affordable. Whole life and no-exam options become more important at this stage.
Ages 70+
Guaranteed acceptance and simplified issue policies ensure coverage is available regardless of health. Final expense policies ($5,000-$50,000) are the most common and affordable option for covering burial costs and small debts.
Why Seniors Need Life Insurance
Final Expense Coverage
The average funeral costs $7,000-$12,000. Final expense insurance ensures your family isn’t burdened with these costs.
Income Replacement for Spouse
If your spouse depends on your pension, Social Security, or investment income, life insurance can replace that income stream.
Leave a Legacy
A life insurance policy is a guaranteed way to leave money to children, grandchildren, or a favorite charity – regardless of what happens to the markets.
Pay Off Remaining Debts
Cover any outstanding mortgage balance, credit card debt, or medical bills so your family inherits assets, not obligations.
Frequently Asked Questions
Can I get life insurance at 70? Yes. Guaranteed acceptance policies have no age limit for application (typically up to 85), and simplified issue policies are available into the mid-70s for many carriers.
Do I need a medical exam? Not necessarily. Many senior-focused policies use simplified issue or guaranteed acceptance underwriting with no exam required.
How much does senior life insurance cost? It depends on age, health, and coverage amount. Final expense policies for a 70-year-old can start around $50-100/month for $10,000-$25,000 in coverage.
Find Senior-Friendly Coverage Today
TermHero knows which carriers offer the best rates for seniors. Let us shop the market and find your most affordable option.