Life insurance for seniors
By Colson · Updated June 13, 2026
Seniors can still get life insurance, but term premiums rise sharply after 50 and options narrow with age. The right choice depends on your goal: covering final expenses, leaving an inheritance, or protecting a spouse's income — each points to a different type of policy.
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Life insurance is priced on mortality risk, which climbs with age, so a policy bought at 60 costs far more than the same coverage at 40. Health also matters more later in life. Buying sooner — or locking in a long level term while younger — keeps costs down.
Common options for seniors
Level term (10–20 years) is still the most cost-effective if you qualify and only need coverage for a set period. Final-expense (burial) whole life offers smaller, permanent coverage with easier underwriting. Guaranteed-issue policies skip the medical exam but cost more and cap coverage — useful if health rules out other options.
How to choose
Match the policy to the need: term for temporary income protection or a remaining mortgage, final-expense for funeral and small debts, guaranteed-issue only if health prevents other coverage. Compare quotes — pricing for older applicants varies a lot between carriers.
Frequently asked questions
Can seniors over 60 get life insurance?
Yes. Term life may still be available depending on health, and final-expense or guaranteed-issue whole life are designed for older applicants. Premiums are higher and coverage amounts are often smaller.
How much is life insurance for a 60-year-old?
A healthy 60-year-old's term life premium is several times what a 40-year-old pays for the same coverage. Use the term life calculator to estimate by coverage amount and term length.
What is final expense insurance?
A small permanent (whole life) policy — often $5,000–$25,000 — meant to cover funeral costs and small debts, with simplified underwriting that's easier to qualify for at older ages.
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