Learn which types of policies are available at age 86, see sample premiums, which companies are available, and how to apply.

Burial Life Insurance Options For 86-Year-Olds

Final expense life insurance is the only type of coverage that an 86-year-old can buy.

A final expense whole life policy is permanent coverage with a fixed price and will accrue cash value.

Neither term life insurance nor universal life insurance are available above 85.

When you die, the policy will pay out a lump sum cash benefit directly to the beneficiaries. Your loved ones can spend the money on funeral expenses or anything else (there are no limitations).

To qualify, you only need to answer some basic health questions. You don’t have to take a medical exam.

If you have pre-existing health issues, you can still get coverage depending on your specific ailments (some conditions would disqualify you).


How Much Does Burial Life Insurance Cost At Age 86?

Not surprisingly, life insurance for 86-year-olds can get costly strictly due to age. On average, it will cost $90-$320 monthly for a $5,000-$10,000 policy.

The price of a funeral insurance policy is based on your age, health, tobacco history, and how much death benefit coverage you want.

The table below has some sample monthly price estimates.

GENDER & RATING$5,000$10,000$15,000$20,000
Female Tobacco User$130.07$256.64$383.21$509.77
Male Tobacco User$198.62$393.75$588.87$784.00


Life Insurance Companies That Will Issue A New Policy To An 86-Year-Old

The table below outlines the five final expense life insurance companies that will issue a new policy to someone over 85.

These insurance companies do not sell their coverage directly to consumers. They only sell these policies through licensed agencies such as Choice Mutual or  Opencare. If you need final expense insurance for someone who is 86, call us at 1-800-644-2926. We can help you acquire coverage from any of these companies.
Insurance CompanyCoverage Options & Max Age For New ApplicantsPolicy Type & Waiting Period
Aetna company logoAge: 89
Coverage: $2K-$25K
• Whole Life Insurance
• No waiting period
american home life company logoAge: 89
Coverage: $2K-$25K
• Whole Life Insurance
• No waiting period
Security National Life company logoAge: 89
Coverage: $2K-$15K
• Whole Life Insurance
• No waiting period
Security National Life company logoAge: 89
Coverage: $2,500-$10K
• Whole Life Insurance
• No waiting period
Guarantee Trust Life company logoAge: 90
Coverage: $2K-$10K
• Whole Life Insurance
• Refund of premiums in first 12 months, 50% payout in 2nd year, then full benefits after 2 years


Life Insurance Vs. Funeral Insurance

People seeking insurance for an 86-year-old commonly proclaim that they need “end-of-life funeral insurance” (or some similar description) and that they don’t want “life insurance.”

It’s important to remember that funeral insurance for seniors is a type of life insurance.

A funeral only occurs when a person dies. That’s why an insurance policy to cover the cost of cremation or burial will always be life insurance.

Read more: Burial insurance vs. life insurance


Does Burial Insurance For 86-Year-Olds Have A Waiting Period?

For the most part, if you’re eligible for a policy at this age, there will be no waiting period.

Also, remember that you don’t need to be in perfect health to qualify for immediate life insurance coverage for a senior at 86.

There are many chronic conditions eligible for no waiting period life insurance, such as COPD, diabetes, and Parkinson’s, to name a few.

But understand that some conditions are completely uninsurable (such as dementia) or only eligible for coverage with a waiting period.

In the end, you’ll need to speak with an insurance agent who can diagnose what you’re eligible for and the precise cost.


How To Apply

First, you will need a licensed insurance agency like Choice Mutual to buy burial life insurance for an 86-year-old senior.

Life insurance carriers that insure seniors above 85 don’t allow applicants to apply directly with the company, online or through the mail.

That being said, here’s what the process looks like when working with us:

  1. Ask the insured person the health questions. No medical exam is necessary. Please note that a power of attorney cannot answer the health questions (the insured must answer).
  2. Gather all the necessary information to fill out the application.
  3. Submit it to underwriting and wait for an underwriter to approve or decline the application.

Most applications are approved or declined within 24 hours. If approved, you will get a paper policy via US mail within 2-3 weeks.

If you’re a senior over 80 and need life insurance, call us at 1-800-644-2926.

One of our licensed agents will answer your questions and walk you through the entire application process.