Your options after 60
Term life
Lowest price per dollar of coverage; good for a remaining mortgage or income need.
Whole life
Lifelong coverage with fixed premiums; useful for estate planning.
Final expense
Small policies for funeral costs, often with no exam. How final expense works.
Guaranteed issue
Can’t turn you down for health, but has a waiting period and lower limits.
How much coverage do seniors need?
Many seniors need less than younger families. Common goals are paying off a mortgage, covering final expenses (often $10,000 to $25,000), replacing a pension or Social Security benefit for a spouse, or leaving a gift.
Try our coverage calculator.
Tips for getting a better price
- Apply sooner rather than later: prices rise each year.
- Compare several insurers; guidelines for common conditions vary widely.
- Consider a shorter term that matches your actual need.
Frequently asked questions
Can I get life insurance at 75?
Yes. Many insurers offer final expense and some term or whole life policies into your 70s and 80s, though choices narrow with age.
Do seniors need a medical exam?
Not always. Final expense and guaranteed-issue policies don't require one, and some term policies use health questions only.
Is life insurance worth it for retirees?
It depends on whether anyone relies on your income or would face costs when you pass. It's often worth it for covering a spouse, a mortgage or final expenses.
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