At this age, your options and the cost depend on your age, state of residence, health, and how much coverage you want. Furthermore, coverage with no waiting period is still possible, even if you aren’t in good health and have some pre-existing conditions.

This guide will outline all your life insurance options, the best life insurance companies over 80, cost estimates, how to qualify, and much more.

Types Of Life Insurance For Seniors Over 80

You likely won’t be able to get a large death benefit, but seniors over 80 can still get life insurance coverage.

Truthfully, most types of life insurance are still available, including a term policy, burial insurance, whole life, and universal life.

By far, permanent life insurance is much more readily available at 80+.

It’s worth mentioning that life insurance for seniors over 80 with no medical exam does exist. However, if you are relatively healthy and willing to take an exam, it will give you access to higher coverage options.

Your exact age, health, and the company you apply with will determine your options, specific costs, and exam requirements.

 

Policy TypeAge Range For New ApplicantsTypical Coverage
Options
Average Monthly
Cost
Best Reasons To BuyMedical Exam Required?
Final Expense Whole Life0-89$1,000-$50,000$90-$200End of life expenses, final medical bills, or other last debtsNo
Traditional Whole Life0-85$50,000+$500-$2,000Estate planning, debt payoff, spousal income protection, very high funeral costs, legacy for heirs0-80: No
81-85: Yes
Universal Life18-85$50,000+$300-$1,500You want permanent coverage with flexible payment options, estate planning, debt pay payoff, spousal income protection, retirement supplementation, final expenses, a legacy for heirs0-80: No
81-85: Yes
Term Life0-80$50,000+$150-$1,000Financial debts or income replacement0-79: No
80: Usually

 

No exam final expense insurance policy

Burial insurance for seniors over 80 is a simplified issue whole life policy because it does not require an exam.

They offer lenient underwriting, so past and present health conditions won’t be a barrier to entry.

Tip:
Please note that burial insurance is also known as “final expense insurance,” “funeral insurance,” or “end-of-life insurance.”

Most companies will offer coverage from $2,000-$40,000. The idea is that you can buy just the right amount of life insurance coverage needed to pay for your funeral expenses.

According to the National Funeral Directors Association, the average funeral costs $7,848.

Upon the policyholder’s death, the insurer will pay out a tax-free check to the beneficiary.

That gives your loved ones the money to fulfill your final wishes or pay for outstanding medical bills.

A burial expense policy is a type of whole life insurance. The rates don’t increase, the coverage doesn’t decrease, and it will never expire.

Also, they build cash value that you can borrow from as it accrues over time.

Most burial policies offer living benefits that allow you to receive some money while alive.

For example, Mutual of Omaha Living Promise coverage includes, at no extra charge, an accelerated death benefit rider.

It allows you to access up to half of the coverage if you’re diagnosed with a terminal illness or confined to a nursing home.

 

Guaranteed issue life insurance

A guaranteed issue policy has no medical underwriting. You do not have to answer health questions or undergo an exam.

While guaranteed approval is convenient, it comes with two significant drawbacks.

  • Mandatory waiting period: All no-health question policies stipulate that the insured’s death during the first two years will only result in a refund of premiums. Peace of mind doesn’t kick until you’ve lived for more than 24 months.
  • Higher cost: The insurance company takes on serious risk knowing nothing about the policyholder’s health. As is the case with all forms of insurance, the higher the risk, the higher the cost.

 

Traditional whole life insurance policy

Typical whole life policies have large death benefit minimums and maximums. Usually, you’ll have to buy at least $50,000 in coverage.

On the top end, you can purchase over $100K in whole life coverage.

However, buying $100,000 or more will likely require a medical exam as part of the application process.

Also, if you’re 81+, expect an exam regardless of how much coverage you want.

All whole life insurance for seniors options build cash value and offer guaranteed lifetime coverage with fixed rates. Also, the death benefit will never decrease.

The net result is a cash payout (tax-free) to your beneficiaries. There are no restrictions on how they spend the money.

Don’t use the free quote tool on this page if you need a significant death benefit (for any reason).

If you’re 80+ and need a substantial policy, abandon the idea that you will buy your policy online. That will not happen.

It would be best if you spoke with an experienced insurance agent.

Call us at 1-800-644-2926, and we will assign one of our most experienced agents to assist you.

 

Universal life insurance policy

This type of permanent life insurance policy is a hybrid between whole life and term insurance. Unlike whole life insurance, it does not offer the policyholder the same guarantees.

Basically, a “UL policy” allows grants you great flexibility. For example, you can choose what you pay monthly rather than a mandatory minimum payment.

So while a universal life policy for a senior over 80 is possible, it’s not recommended.

The policy’s value could substantially decrease, the payments could significantly increase, or it could prematurely terminate altogether.

 

Term life insurance policy

Term life insurance for seniors over 80 is only possible if you’re actually age 80. Once you turn 81, you will not be able to get a term policy any longer.

At most, a 10-year term policy is the longest you’ll be able to get. That would mean you’d be covered until you’re 90.

Then at age 90, the policy would terminate, and you’d no longer be insured.

Also, you’ll likely have to take a medical exam to get a term life policy over 80.

It’s only advisable to buy term at this age if you need to cover a temporary liability such as financial debt.

Don’t buy a term policy to cover funeral costs.

 

How Much Does Life Insurance For Seniors Over 80 Cost?

The cost of life insurance for seniors over 80 is generally $90-$200 per month for coverage in the $10,000-$20,000 range.

It’s’ nearly double the cost of life insurance for seniors over 70.

No matter the type of life insurance you’re considering, the price depends on various factors.

  • The specific age of the applicant
  • Gender (except in Montana)
  • Health
  • Amount of coverage you buy
  • Tobacco usage (if any)

Check out the tables below to give you a sense of what you should expect to pay.

These tables are actual burial life insurance quotes for the elderly over 80. You can also use the quoting tool on this page to see more pricing.

 

80-year-old burial life insurance rates

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$50$98$145$193
Female Tobacco & No Waiting Period$65$126$188$250
Female Guaranteed Acceptance$63$126$189$252
Male No Waiting Period$71$139$207$276
Male Tobacco No Waiting Period$92$181$271$360
Male Guaranteed Acceptance$79$157$235$313

81-year-old burial life insurance rates

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$54$106$157$209
Female Tobacco & No Waiting Period$74$147$218$290
Female Guaranteed Acceptance$68$136$203$271
Male No Waiting Period$76$144$223$296
Male Tobacco No Waiting Period$97$192$288$383
Male Guaranteed Acceptance$84$167$250$333

82-year-old burial life insurance rates

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$58$113$169$224
Female Tobacco & No Waiting Period$81$160$239$317
Female Guaranteed Acceptance$73$145$217$289
Male No Waiting Period$81$160$238$317
Male Tobacco No Waiting Period$103$204$305$406
Male Guaranteed Acceptance$89$177$266$354

83-year-old burial life insurance rates

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$62$121$180$239
Female Tobacco & No Waiting Period$86$170$254$338
Female Guaranteed Acceptance$75$149$223$297
Male No Waiting Period$87$171$254$338
Male Tobacco No Waiting Period$110$219$327$435
Male Guaranteed Acceptance$91$182$273$364

84-year-old burial life insurance rates

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$65$128$191$253
Female Tobacco & No Waiting Period$91$179$267$355
Female Guaranteed Acceptance$77$153$229$306
Male No Waiting Period$92$181$271$360
Male Tobacco No Waiting Period$119$237$354$471
Male Guaranteed Acceptance$94$188$282$376

85-year-old burial life insurance rates

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$69$135$202$268
Female Tobacco & No Waiting Period$97$192$286$381
Female Guaranteed Acceptance$79$157$236$314
Male No Waiting Period$97$192$287$382
Male Tobacco No Waiting Period$130$257$385$512
Male Guaranteed Acceptance$96$192$288$384

 

Final Expense Life Insurance for Seniors Over 85

In all states except New York, you can still get a life insurance policy for someone older than 85. However, your options are wildly different compared to ages 80-85.

So if you’re age 86+, check out one of these articles to better understand your options.

Please note that above 85, there are no guaranteed acceptance options. You will have to qualify (answer health questions & be approved) for coverage at 86+.

 

How To Get No Waiting Period Life Insurance Policies For Seniors Over 80

It’s possible to get a policy with immediate coverage, even for folks in their 80s.

In other words, you’re fully covered the day you make your first payment.

It could be for natural or accidental death, and the insurer still has to pay out the full death benefit.

Here’s how you get a policy that fully covers you immediately.

To get no waiting period coverage, you must apply with an insurance company where you answer health questions and are approved. You don’t have to take a medical exam, but you will need to complete a health questionnaire to determine your eligibility.

There are no exceptions to that rule.

Any policy that does not ask about health will always have a 2-3 year waiting period.

Understand that some websites will mislead you about this issue to get you to click on an advertisement or call them.

It’s sad but true. Those fraudulent websites only lie to you because they make money when you click on certain parts of their website.

 

Best Life Insurance Companies For Seniors Over 80

Some providers won’t accept new applicants who are 80 and above.

Rest assured, these companies do.

Below is a list of five of the best burial insurance companies for seniors who are over 80.

You can see quotes from any of these companies by using the quoting tool on this webpage.

 

1) Mutual of Omaha

Founding Year: 1909
A.M. Best
A+
Superior
BBB
A+
99-100

Brochure Sample Policy Sample Application

Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 45-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $2,000-$40,000
States Available: All States (except New York)
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: Accidental Death (2X the payout for accidental death)
Application
Details
Where to Apply: Agencies licensed to sell Mutual of Omaha products (you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: 10 Minutes to 2 Business Days
Common health conditions still eligible for no waiting period coverage:


Aneurysm
Arthritis
Asthma
Blindness
Blood clots > 2 years ago
Blood thinners
Cancer > 4 years ago
Circulatory surgery > 2 years ago
Crohn’s disease
Depression
Diabetes (type 2)
Diverticulitis
Epilepsy
Fibromyalgia
Grave’s disease
Heart attack > 2 years ago
Heart surgery > 2 years ago
Hepatitis A or B
High blood pressure
High cholesterol
Scleroderma
Seizures
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 2 years ago
Tumors (non-cancerous)
 
 

2) Aetna

Founding Year: 1853
A.M. Best
A
Excellent
BBB
A+
98-100
Brochure Sample Policy Sample Application
Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 40-89
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $2,000-$50,000
(varies by age)
States Available: All States (except New York)
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: Accidental Death
(2X the payout for accidental death)
Application
Details
Where to Apply: Agencies licensed to sell Aetna products
(you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: 15 Minutes-3 Business Days
Common conditions still eligible for no waiting period coverage:


Afib
Aneurysm (if surgically repaired)
Arthritis
Asthma
Bipolar disorder
Blindness
Blood clots
Blood thinners
Cancer > 2 years ago
Chronic bronchitis
Circulatory surgery > 2 years ago
COPD
Crohn’s disease
Depression
Diabetes (type 1 or 2)
Diabetic coma > 2 years ago
Diverticulitis
Epilepsy
Fibromyalgia
Graves’ disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
Hepatitis > 2 years ago
High blood pressure
High cholesterol
Insulin shock > 2 years ago
Lupus
Multiple sclerosis
Obesity
Over 85 life insurance
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Sarcoidosis
Schizophrenia
Scleroderma
Seizures
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago
Tumors (noncancerous)

 
 

3) Transamerica

Founding Year: 1904
A.M. Best
A
Excellent
BBB
B
84-100
Brochure Sample Policy Sample Application
Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 45-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $1,000-$50,000 (varies by age)
States Available: All States
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: Accidental Death (2X the payout for accidental death)
Application
Details
Where to Apply: Agencies licensed to sell Transamerica products (you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: 15 Minutes- 5 Business Days
Common conditions still eligible for no waiting period coverage:


Afib
Angina (chest pains)
Aneurysm (if surgically repaired)
Arthritis
Asthma
Bipolar disorder
Blindness
Blood clots
Blood thinners
Cancer > 4 years ago
Chronic bronchitis
Circulatory surgery > 1 year ago
COPD
Crohn’s disease
Depression
Diabetes (type 2)
Diverticulitis
Epilepsy
Fibromyalgia
Grave’s disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
Hepatitis
High blood pressure
High cholesterol
Kidney disease (no dialysis)
Lupus
Multiple sclerosis
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Schizophrenia
Scleroderma
Seizures
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago
Tumors
 
 

4) American Amicable

Founding Year: 1910
A.M. Best
A
Excellent
BBB
A+
97-100
Brochure Sample Policy Sample Application

Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 50-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $2,500-$50,000 (varies by age)
States Available: All States (except CT, ME, MT, NH, NY, VT)
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: None
Application
Details
Where to Apply: Agencies licensed to sell American Amicable products
(you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: < 10 minutes
Common conditions still eligible for no waiting period coverage:


Afib
Aneurysm > 3 years ago
Arthritis
Asthma
Bipolar disorder
Blindness
Blood clots
Blood thinners
Cancer > 3 years ago
Circulatory surgery > 3 years ago
Crohn’s disease
Depression
Diabetes (type 2)
Diverticulitis
Fibromyalgia
Grave’s disease
Heart attack > 3 years ago
Heart surgery > 3 years ago
Hepatitis > 3 years ago
High blood pressure
High cholesterol
Pacemaker (installed > 3 years ago)
Schizophrenia
Scleroderma
Sickle cell anemia
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 3 years ago
Tumors (non-cancerous)

 

 

5) Americo

Founding Year: 1909
A.M. Best
A-
Excellent
BBB
A
94-100
Brochure Sample Application

Product
Details
Policy Type: Whole Life Insurance
New Applicant Age Range: 40-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $5,000-$40,000
States Available: All States (except NY & VT)
Product
Benefits
Premiums Stay the Same Forever: Yes
Builds Cash Value: Yes
Policy Duration: Lifetime
Optional Riders: None
Application
Details
Where to Apply: Agencies licensed to sell Americo products (you can't buy this plan directly from them)
Phone Number to Apply: 1-800-644-2926
Medical Exam Required: No
Guaranteed Acceptance: No
Application Approval Time: < 5 Minutes
Common conditions still eligible for no waiting period coverage:


Afib
Aneurysm
Arthritis
Asthma
Bipolar disorder
Blindness
Blood clots
Blood thinners
Cancer > 2 years ago
Circulatory surgery > 1 year ago
Crohn’s disease
Depression
Diabetes (type 1 or 2)
Diabetic amputation > 2 years ago
Diverticulitis
Epilepsy
Fibromyalgia
Grave’s disease
Heart attack > 1 year ago
Heart surgery > 1 year ago
High blood pressure
High cholesterol
Insulin shock > 2 years ago
Lupus
Multiple sclerosis
Pacemaker (installed > 1 year ago)
Parkinson’s disease
Schizophrenia
Scleroderma
Seizures
Sickle cell anemia
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 1 year ago
Tumors (non-cancerous)

 

How To Apply For Life Insurance For People Over 80

Applying for coverage in your 80’s is no different than if you were in your 50’s, 60’s, or 70’s.

It’s helpful to remember that there is no money due at the time of the application.

All the insurance companies allow you to decide when your payments begin.

To find the best life insurance for seniors over 80, it’s highly advisable that you work with an independent broker.

An independent agency (broker) has free access to multiple insurance companies.

They can compare offers from various insurance carriers to find you the best rates.

If you try dealing directly with one insurance company, they can’t shop around for you.

Whether you work with Choice Mutual Insurance Agency or another broker, it’s generally a straightforward process as described below:

  1. Answer any questions you have.
  2. Gather health data about the person who will be insured.
  3. Ask questions to determine how much life insurance and the type of policy you want.
  4. Present the best life insurance plans to you so you can decide which carrier you prefer.
  5. Fill out the application and acquire signatures from all parties.
  6. Submit the application to underwriting for processing.
  7. Notify you once the policy is approved.
  8. Wait for your policy to arrive in the mail.

Every agency will do things differently, but that’s how it works most of the time.

 

Watch Out For These Offers For Life Insurance Over 80 Years Of Age

Many insurance organizations are tripping over themselves to sell bottom-of-the-barrel senior life insurance over 80 policies to anyone who will buy without doing their research.

The reason they do this is simple.

At 80, they know you are probably very willing to take an offer simply because of your age. These companies assume you think you won’t qualify anywhere because of your age.

Then they come along with these attractive “offers,” and boom, you scoop it up because you’re so happy to have something.

If you receive any of these “offers,” run because 99% of the time, much better options are available.

 

Anything through the mail

Anyone aged 50 and up will forever receive offers via mail to buy life insurance where your acceptance is guaranteed.

For example, the AARP funeral insurance program does this quite often.

While this sure sounds nice, it comes at a high cost.

If you buy a life policy for someone over 80 via mail, it will always have a 2-3 year waiting period. Also, it will almost certainly cost much more than buying a policy through a licensed agent.

 

Colonial Penn

Most people are familiar with Colonial Penn because they featured Alex Trebek in their commercials (now they feature Jonathan Lawson).

Sadly, just because they had Alex as their company’s face does not mean their life insurance is superior.

The opposite is true when you consider the pros and cons.

For seniors over 80, Colonial Penn 995 plans all have three significant drawbacks:

  1. There is a mandatory two-year waiting period.
  2. It’s very costly relative to other options.
  3. They only allow you to buy a tiny amount of coverage (Roughly $7,500 is the max they offer for an 80-year-old female).

There is no scenario where someone in their 80s should buy Colonial Penn coverage for those three reasons.

There are significantly better options available from dozens of other insurance companies.

 

Lincoln Heritage

Lincoln Heritage is a big player in the final expense insurance business. They frequently advertise on T.V., through the mail, and online.

While they have done an excellent job selling a lot of insurance, it’s not because it’s the best.

There are two reasons you wouldn’t want to go with Lincoln Heritage if you’re trying to find life insurance for someone aged 80 or older.

  1. Even for healthy folks, their coverage costs much more than other insurers.
  2. Their underwriting is not favorable. Many seniors with common health issues qualify for their costly plan with a two-year waiting period.

Check out the full Lincoln Heritage review if you want further proof.

 

Mutual of Omaha direct

If you call Mutual of Omaha’s home office, they have only one product they can offer you.

It will be a guaranteed acceptance final expense policy with a two-year waiting period.

The Mutual of Omaha no-waiting period plan is available only through licensed agencies such as Choice Mutual.

You cannot buy their immediate coverage plan directly from them.

 

TruStage

TruStage life insurance products are good in some instances but not for seniors above 80.

Above the age of 80, Trustage only offers up to $25,000 in coverage, and their prices aren’t very competitive.

You can get much lower rates from other life insurance companies.

Plus, they don’t accept applicants who are 86 or older.

You can check out the full TruStage life insurance review if you want even more information about their life insurance products.

 

Frequently Asked Questions

Term life for seniors over 80 is only available at age 80. Due to the average life expectancy of a U.S. citizen, it’s not possible for seniors 81+.

It’s just too risky for a life insurance company to offer term life insurance options beyond 80. Whole life is the most common financial protection available at this age.

You can get a new life policy when you’re over 80. Whole life insurance is typically the only option, and there are many insurance companies available.

Coverage amounts and premiums depend upon your age, gender, health, and resident state.

If you want less than $100,000 in coverage, seniors over 80 can get life insurance with no medical exam. But if you want a policy with a death benefit higher than 100K, you will need to complete an exam.

You can purchase life insurance for your parents at any age. Your parents or grandparents will need to consent to the policy. However, you can be the owner, payer, and beneficiary if they agree to it.

Buying life insurance for mom or dad is quite common.

Yes, you can get life insurance at age 85. In fact, we have multiple life companies that insure 85-year-olds.

Premiums tend to be north of $100 per month because of the applicant’s age.

It’s possible to get life insurance at 87, but there are minimal options.

Only a few companies in the USA offer coverage at this age. Your ability to qualify is dependent upon your health and where you live.

Some policies at this age have a waiting period, and some do not. You’ll need to qualify medically to get one without a waiting period.

Most seniors who are 80+ can get a policy that has no waiting period.

AARP whole life insurance issued by New York Life stops taking new applicants at age 80. If you’re over 80, they cannot help you.