Think getting life insurance in your 70s is impossible? Think again. Today, many top insurers offer senior-friendly options, from simple term life to comprehensive permanent coverage.
Whether you’re just starting your search or ready to buy, we can help you find a policy that fits your coverage goals and spending limits.
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Why Seniors Need Life Insurance
Why Seniors Need Life InsuranceAfter years of assisting families with their life insurance needs, I’ve realized that life changes, and your coverage should adapt accordingly.
Many seniors come to us when they realize their financial responsibilities are not winding down as they expected in retirement.
Some people may have a current term policy ending and want to replace their expiring coverage with another affordable term policy.
Meanwhile, many affluent seniors are interested in a new, permanent coverage plan that lasts their entire lifetime.
Senior life insurance needs
- Mortgage Protection: Your home is probably your biggest investment. If you’re still paying off your mortgage, we can set up a term life policy that aligns with your mortgage payoff timeline.
- Income Protection: If a spouse relies on your income, a life policy will secure their financial future if something happens to you.
- Pay for Final Expenses: Final expense coverage is a popular and predictable way to cover your final expenses.
- Leaving a Legacy: If you’re thinking about leaving something behind for your children or grandchildren, universal life insurance can be a smart way to create an inheritance.
But that’s just scratching the surface. According to industry veteran Marvin Feldman, there may be over twenty reasons why seniors may need life insurance.
Term Life Insurance for Seniors Over 70
Affordable term life insurance is readily available to seniors over 70 who are in decent health, though options become a bit more limited.
Most insurers typically offer only 10-year or 15-year term policies for individuals over 70, making these the standard options.
Term life insurance is an excellent choice for seniors who want to cover needs for a specific time window. Once that window closes, your coverage will either end or become cost-prohibitive.
We usually offer seniors both shorter and longer options so they can see what works best for their wallets.
If you want to keep your costs down, a 10-year policy is your best friend. Meanwhile, a 15-year term policy is more expensive but provides an extra cushion of time.
Many seniors in this age group choose a policy of at least $100,000, while others prefer a $250,000 policy to cover larger financial obligations.
To help you compare, here are average monthly rates for healthy, non-smoking seniors over 70 for both 10- and 15-year term policies.
10-Year Term Life Insurance for Seniors Over 70
| Male | $100k | $250k |
| 70 | 80 | 163 |
| 71 | 92 | 195 |
| 72 | 109 | 224 |
| 73 | 120 | 253 |
| 74 | 135 | 288 |
| 75 | 160 | 328 |
| 76 | 174 | 395 |
| 77 | 202 | 451 |
| 78 | 265 | 509 |
| 79 | 293 | 544 |
| Female | $100k | $250k |
| 70 | 56 | 104 |
| 71 | 60 | 121 |
| 72 | 80 | 140 |
| 73 | 89 | 161 |
| 74 | 99 | 186 |
| 75 | 109 | 217 |
| 76 | 141 | 277 |
| 77 | 175 | 330 |
| 78 | 201 | 374 |
| 79 | 239 | 427 |
15-Year Term Life Insurance for Seniors Over 70
| Male | $100k | $250k |
| 70 | 120 | 244 |
| 71 | 140 | 297 |
| 72 | 165 | 353 |
| 73 | 180 | 434 |
| 74 | 210 | 520 |
| 75 | 285 | 609 |
| 76 | 331 | 716 |
| 77 | 379 | 821 |
| 78 | 446 | 958 |
| 79 | n/a | n/a |
| Female | $100k | $250k |
| 70 | 77 | 145 |
| 71 | 108 | 203 |
| 72 | 123 | 244 |
| 73 | 141 | 276 |
| 74 | 160 | 332 |
| 75 | 182 | 397 |
| 76 | 215 | 485 |
| 77 | 248 | 561 |
| 78 | 287 | 652 |
Term Life Insurance for Over 75
Term Life Insurance for Over 75According to Aflac, term life insurance is more affordable than most permanent life policies for those over 75.
While some insurers limit options in your mid-70s, 10-year and 15-year term policies are still available up to age 78.
For example, at 75, a healthy man can get a $250,000 10-year term for about $325 per month, or a 15-year term for $609 per month. The longer term costs more but provides coverage until age 90.
If you need coverage beyond what term policies offer, a guaranteed universal life insurance policy is likely your best option.
It provides permanent coverage at a steady rate and can be an affordable solution when longer-term policies are out of reach.
Affordable Life USA makes finding coverage a breeze by using our insurance calculator to quickly analyze the term life quotes of many of today’s top insurers.
Universal Life Insurance for Seniors
Universal Life Insurance for SeniorsIf you’re worried your term policy might expire before you do, or you want coverage that lasts your entire life, universal life is a better option than term life.
Guaranteed universal life insurance (GUL) is permanent coverage that offers a fixed premium and guaranteed death benefit for your entire life.
GUL doesn’t focus on building cash value; it’s all about reliable lifetime protection as long as you pay the premiums.
In our opinion, the two best guaranteed universal life carriers for seniors are Pacific Life and Protective Life.
Pacific Life offers permanent coverage starting at $25,000, with pricing lower than whole life insurance.
CNBC has rated Pacific Life as one of the top life insurance companies for 2025, with its universal life portfolio ranking number one!
We have seen firsthand how this coverage could help with final expenses, set aside money for your grandkids’ education, or provide a financial cushion for your spouse.
Would you like to see some numbers? Here are the best monthly life insurance rates for seniors over 70 for $25,000 and $50,000 policies guaranteed until age 100.
Universal Life Insurance Rates for Seniors
| Males | $25k | $5ok |
| 70 | 84 | 164 |
| 71 | 90 | 174 |
| 72 | 94 | 183 |
| 73 | 101 | 195 |
| 74 | 106 | 207 |
| 75 | 112 | 220 |
| 76 | 119 | 233 |
| 77 | 128 | 251 |
| 78 | 137 | 270 |
| 79 | 147 | 290 |
| 80 | 160 | 316 |
| Females | $25k | $5ok |
| 70 | 78 | 143 |
| 71 | 82 | 151 |
| 72 | 89 | 161 |
| 73 | 95 | 168 |
| 74 | 98 | 177 |
| 75 | 105 | 187 |
| 76 | 114 | 198 |
| 77 | 118 | 217 |
| 78 | 127 | 231 |
| 79 | 130 | 247 |
| 80 | 141 | 263 |
How Much Does Universal Life Insurance Cost?
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Whole Life Insurance for Seniors
If you want an easy way to your final expenses, simplified and guaranteed issue whole life policies are ideal for seniors seeking quick coverage without a medical exam.
When buying coverage from providers like AARP and Mutual of Omaha, you’ll only answer a few health questions.
Approval usually takes a few days, but coverage is limited to $25,000, and premiums are typically higher than those for standard policies.
Guaranteed issue whole life, from companies like AIG or Gerber Life, takes it a step further by requiring no health questions at all—guaranteeing acceptance regardless of your health.
This option is ideal for seniors with serious health conditions who require coverage of up to $25,000. These plans are commonly used to cover final expenses, medical bills, or to leave a small inheritance.
Unlike standard whole life insurance, which provides higher coverage amounts, lower premiums, cash value growth, and dividends, simplified and guaranteed issue policies prioritize convenience.
Tips for Buying Senior Life Insurance
Tips for Buying Senior Life InsuranceWe know that finding the right life insurance policy after 70 isn’t about rushing into the first offer you can find.
It starts with understanding your goals—whether it’s covering final expenses, paying off debts, or leaving a financial cushion for your loved ones.
We will evaluate your eligibility and find a policy that fits your personal situation and financial plan. Being honest about your health conditions helps us connect you with insurers likely to offer better rates.
While many affordable policies require a medical exam, there are also simplified and guaranteed issue options if you’d prefer to avoid one or have health concerns.
We partner with top-rated insurers known for their financial strength, making your shopping experience effortless and enjoyable!
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Affordable Life USA offers comprehensive life insurance solutions to families and business owners throughout the United States.
Our founder, Eric Van Haaften, developed his passion for quantitative analysis while earning his business degree from Ferris State University, which laid a strong foundation for his analytical approach to financial planning.
