This article will review what type of coverage an 88-year-old can get, which companies are available, see sample costs, if there is a waiting period, and how to apply.

88-Year-Old Life Insurance Options

At 88 years old, a whole life final expense insurance policy is the only type of life insurance available.

A final expense policy (aka “funeral insurance” or “final expense insurance”) is a permanent life insurance plan that has a fixed monthly payment and builds cash value.

To be more specific, it’s a simplified issue whole life policy that does not require a medical exam. To qualify, all you must do is complete a short health questionnaire.

No insurance companies offer term life or universal life insurance to seniors above 85.

The underwriting on a burial insurance policy is very lenient. Despite prior medical conditions, most seniors still qualify. However, some ailments will result in denial.

When you pass away, the insurer will pay the death benefit as a tax-free check to your beneficiaries or funeral home (the choice is yours).

No restrictions exist on how the money is used, and any leftover funds stay with your loved ones.


How Much Does Final Expense Insurance Cost At Age 88?

It will cost about $135-$330 monthly for $5,000-$10,000 in coverage. Objectively, it’s expensive to get life insurance for an 88-year-old because it’s well beyond the average life expectancy for a senior in the USA (hence the high cost).

The cost of funeral life insurance is always a function of your age, gender, health, tobacco usage (if any), and the amount of coverage you buy. In the table below, you can see some sample monthly premiums for an 88-year-old.

GENDER & RATING$5,000$10,000$15,000$20,000
Female Tobacco User$172.42$341.34$510.26$679.17
Male Tobacco User$258.12$512.75$767.37$1022.00


Life Insurance Companies That Will Issue A New Policy To An 88-Year-Old

There aren’t many life burial insurance companies that will issue a new policy to an 88-year-old.

The table below has some basic information about the companies that offer coverage above 85.

To apply with any of these insurance providers, you must work with an agency like Choice Mutual. That’s because none of these companies sell their coverage directly. If you want to explore a policy from any of these providers, call us at 1-800-644-2926.
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


Final Expense Insurance Vs. Life Insurance

Frequently, seniors over 85 looking for insurance to cover burial expenses will proclaim that they only want “burial insurance” and don’t want senior life insurance.

The main thing to understand is that burial insurance is life insurance.

Funeral insurance for seniors is simply a small whole life policy with lenient underwriting so seniors with health issues can still qualify.

A funeral only happens after a person dies, which is why burial insurance is still life insurance.

Read more: Life vs final expense insurance


Is There A Waiting Period?

If you’re approved, there likely won’t be a waiting period. That’s true even if you have previous health issues.

One of the great things about final expense life insurance is that you don’t need to be in pristine health to qualify.

Now, there are definitely some health conditions that will result in a decline or a waiting period, but that isn’t common.

In the end, you’ll need to speak with a licensed agent. Only a licensed agent can diagnose if you’re eligible for no waiting period life insurance.


How To Apply For Life Insurance For An 89-Year-Old

Buying life insurance for an 88-year-old isn’t much different from buying coverage at any other age. For starters, the insurance providers at this age do not sell their coverage directly, through the mail, or online.

You must buy through an insurance broker like Choice Mutual, Family First Life, or Open Care Seniors.

Regardless of which agency you work with, here is a breakdown of how the process works:

  1. We’ll ask the insured the health questions (there’s no medical exam).
  2. Your agent will gather all the information to fill out the application.
  3. We’ll read you some disclosures and obtain consent to submit the application to underwriting. On average, we’ll know if the application is declined or approved in less than one day.

If the insurance company approves the application, you’ll get a paper policy within two-three weeks via US mail.

There are no down payments. You choose when the premiums begin, but remember that whichever day your payments start is when your policy becomes active.

If you need life insurance for a senior citizen over 80, call us at 1-800-644-2926. One of our agents will answer all your questions and hold your hand through the application process.

Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

  1. average life expectancy.