Yes, final expense life insurance exists for 87-year-olds.

In this article, you’ll learn the policy options at this age, the cost, available companies, and how to apply.


Burial Life Insurance Options For 87-Year-Olds

The only type of life insurance available for an 87-year-old is a whole life burial insurance policy.

Whole life insurance is a type of permanent life insurance that will never terminate.

The premium will never increase, and the coverage amount will never decrease in value.

Lastly, the policy will accrue cash value that you can withdraw at any time.

Term life and universal life insurance are not an option at this age.

Thankfully, the life insurance companies that offer coverage to 87-year-olds don’t require an exam.

Qualification only requires the applicant to answer a few health questions.

Believe it or not, getting a final expense policy with pre-existing conditions at this age is still possible.

Some conditions will cause an outright decline, but many health issues are insurable.


Life Insurance Vs Final Expense Insurance

Very often, people looking for insurance for 87-year-olds say they only want “burial insurance.”

They proclaim that they don’t want life insurance.

The main thing to understand is that final expense insurance for seniors is a type of life insurance.

A burial only happens when someone dies.

That’s why any insurance to cover a burial is still a life insurance policy (which is still possible at 87).

Check out final expense insurance vs life insurance for more information about this topic.


How Much Does Final Expense Life Insurance Cost At Age 87?

There’s no question that life insurance for an 87-year-old can get costly because of your age.

That said, it will generally cost about $100-$300 per month for a $5,000-$10,000 policy.

The price of a final expense policy is determined based on your age, tobacco usage (if any), health, and how much coverage you select.

Below is a table that shows some monthly price estimates.


GENDER & RATING$5,000$10,000 $15,000$20,000
Female Tobacco User$151.24$298.99$446.73$594.47
Male Tobacco User$228.37$453.25$678.12$903.00


Does Funeral Life Insurance For 87 Year Olds Have A Waiting Period?

Generally, if you’re approved for coverage at this age, there will be no waiting period.

And you don’t need to be in perfect health to qualify.

Common conditions like high blood pressure, high cholesterol, and diabetes, to name a few are more than acceptable.

However, there are some health situations where a waiting period could be inevitable.

At the end of the day, you’ll need to speak with a licensed agent who can determine if you’ll qualify for a life plan with no waiting period at this age.


Age 87 Life Insurance Companies

Not many life insurance companies offer burial insurance for 87-year-olds.

Below is a table that outlines which funeral insurance providers are available and some basic info about their products.

The only way to buy coverage from these insurance carriers is via an agent licensed to sell their products. For example, if you call Aetna, they will tell you that you must find an agent licensed to sell Aetna senior products. If you need over 85 life insurance, call us at 1-800-644-2926. We can help you with any of these companies.


Insurance CompanyCoverage Options & Max Age For New ApplicantsPolicy TypeWhen Policy
Can Pay Out
Aetna company logoAge:
Whole Life InsuranceNo waiting period
american home life company logoAge:
Whole Life InsuranceNo waiting period
Security National Life company logoAge:
Whole Life InsuranceNo waiting period
Security National Life company logoAge:
Whole Life InsuranceNo waiting period
Guarantee Trust Life company logoAge:
Whole Life InsuranceRefund of premiums in first 12 months, 50% payout in 2nd year, then full benefits after 2 years


How To Apply

First, to buy life insurance for an 87-year-old, you must work with an agency like Choice Mutual.

The life insurance companies that offer coverage at this age do not sell their products directly, through the mail, or online.

You must verbally speak with a licensed agent via telephone apply.

Given that disclaimer, the applicant will not have to undergo a medical exam.

Once we are on the phone with you, here’s the process:

  1. Ask the insured the health questions and gather your medications.
  2. Gather all the information to complete the application and submit it to underwriting.
  3. Wait for the insurance company to process the application and render a decision.

A physical policy will arrive via mail within 2-3 weeks if the application is approved.

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

One of our friendly agents will answer all your questions and guide you through the process.