Key takeaways
- In your 60s, term life is still available and affordable if you're healthy; final expense and GUL are also options.
- In your 70s, shorter terms (10–15 years), guaranteed universal life and final expense are the main choices.
- After 80, choices narrow mostly to final expense and guaranteed-issue policies.
- Health matters more than age — a healthy 72-year-old may pay less than a 65-year-old smoker.
- Before buying, check whether you have old policies, work retiree coverage, or veterans benefits.
Many people reach retirement and discover their life insurance ended with their job. Others realize that funeral costs, a spouse's income needs, or a wish to leave something behind still need covering.
The good news: being older doesn't shut you out. The key is knowing which products are designed for your age and health — and which ones to avoid.
Estimate senior life insurance costs →
Why seniors buy life insurance
- To pay for a funeral and burial without burdening children.
- To protect a spouse who would lose part of a pension or a Social Security check after a death.
- To pay off a remaining mortgage or reverse-mortgage balance so a spouse or heir can keep the home.
- To leave a guaranteed inheritance or gift to grandchildren or a charity.
- To cover estate taxes or equalize an inheritance (for example, when one child receives the family business).
Options in your 60s
Healthy people in their 60s can still buy fully underwritten term life — commonly 10, 15 or 20-year terms — at reasonable prices, especially non-smokers. This is the best value if your need is temporary, like a mortgage with 15 years left.
If you want coverage that never runs out, guaranteed universal life is often the best value for larger amounts, and final expense insurance works well for $5,000–$30,000 of funeral coverage.
Options in your 70s
Term options shrink: many insurers offer 10-year terms up to about age 75–80 at issue, and prices rise quickly. For most people in their 70s, the realistic choices are guaranteed universal life (for larger, lifelong benefits) and final expense insurance (for smaller, simply-underwritten coverage).
Expect a phone interview and a check of prescription history for most policies. Being honest on the application matters — misstatements can lead to a denied claim within the two-year contestability period.
Want real prices, not averages?
A licensed agent can compare policies from several insurers for your age, health and budget. Free, no obligation.
Talk to a licensed agentOptions after 80
Most applicants over 80 will be looking at final expense insurance, which many insurers issue up to age 85, and guaranteed-issue policies that accept applicants into their late 80s. Coverage amounts are usually capped at $10,000–$25,000.
At this age, compare the total premiums you could pay against the benefit. If you're 84 and the premium is $180 a month for $10,000, you'll have paid more than the benefit in under five years. Setting aside savings in a payable-on-death account may be smarter for some people.
Estimated costs at a glance
| Age | $10,000 final expense (non-smoker, est./mo) | $100,000 10-yr term (healthy non-smoker, est./mo) |
|---|---|---|
| 60 | $35–$62 | $40–$75 |
| 65 | $43–$78 | $65–$120 |
| 70 | $55–$100 | $110–$220 |
| 75 | $75–$135 | $220–$420 |
| 80 | $105–$190 | Often unavailable |
Broad planning ranges; the low end reflects women and the best health classes. Actual quotes vary widely by insurer.
Check what you already have
- Old policies: Use the NAIC Life Insurance Policy Locator if you think a parent or spouse had a policy you can't find.
- Retiree coverage: Some employers and unions continue a small amount of life insurance into retirement.
- Veterans: The VA provides burial and plot allowances for eligible veterans and free burial in a national cemetery with a headstone; check VA.gov for current amounts.
- Social Security: A one-time $255 death payment goes to an eligible surviving spouse or child — helpful, but nowhere near the cost of a funeral.
Avoid these common mistakes
- Buying guaranteed issue when you could qualify for a level-benefit policy at a lower price with immediate full coverage.
- Replacing an old whole life policy with a new one — you lose years of built-up value and restart the contestability period.
- Accidental death policies marketed as life insurance. They only pay if death is from an accident, which is rarely how older adults die.
- Policies whose coverage drops at 80 or 85, or whose premiums rise every few years. Read the illustration carefully.
Frequently asked questions
Can a 75-year-old get life insurance?
Yes. Final expense and guaranteed universal life are widely available at 75, and some insurers still offer 10-year term coverage to healthy applicants.
What is the oldest age to buy life insurance?
Most final expense policies issue up to 85; a few guaranteed-issue policies accept applicants up to about 89. Fully underwritten term life typically stops around 75–80 at issue.
Is life insurance for seniors worth the cost?
It's worth it when there's a clear need — funeral costs, a spouse's income, a mortgage — that savings can't cover. Compare total premiums against the benefit before buying in your 80s.
Do seniors need a medical exam for life insurance?
Not usually for final expense insurance. Larger term and universal life policies may require an exam or medical records.
Keep reading
General information only — not insurance, legal, tax or financial advice. Policy features and prices vary by insurer and state. Figures are estimates as of October 2026.