Best burial & life insurance for seniors over 80
Written by Anthony Martin 
Founder & CEO | Licensed Agent | Forbes Author 
Fact checked by Brian Barber Last updated on July 12, 2021Yes, life insurance for senior citizens over 80 does exist.
Coverage with no waiting period is still possible even at this age.
In this guide, we’ll lay out all your options, low-cost companies, sample prices, how to qualify, and much more.
Topics covered in this article
Can you get life insurance for seniors over 80?
Yes, you can buy life insurance for seniors over 80. At 80+, whole life insurance is usually the only kind available.
Most seniors at this age only need life insurance to cover funeral costs. You will often see policies at this age referred to as burial insurance plans or final expense insurance.
Here’s how a whole life plan over 80 life policy will work:
- Premiums are fixed and cannot increase.
- Coverage guaranteed never to decrease.
- Policy can’t expire due to age.
Since it’s life insurance, the result will be a tax-free cash payment directly to your beneficiary(s).
Technically your beneficiaries can use the money for anything.
If there happens to be money left over, it will remain with your family to use as they see fit.
Helpful Tip: Anytime you hear the words “burial insurance,” “final expense insurance,” or “funeral insurance,” know that all these labels mean the same thing. It’s all still life insurance. Final expense insurance for seniors over 80 is just a whole life policy. There is no type of insurance for burial expenses that is not life insurance.
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. The exact price is determined based on gender, age, state of residence, health, and the amount of coverage you want.
Below you’ll see some actual burial life insurance quotes for the elderly over 80. You can also use the quoting tool on this page to see more pricing.
Female Prices
*** Rates always stay the same & the policy never expires ***
AGE $5,000 $10,000 $15,000 $20,000
80 $50.82 $98.43 $146.05 $193.66
81 $54.71 $106.21 $157.72 $209.22
82 $58.58 $113.96 $169.33 $224.71
83 $62.26 $121.31 $180.36 $239.41
84 $65.88 $128.55 $191.23 $253.90
85 $69.55 $135.90 $202.25 $268.60
86 $87.41 $171.32 $255.24 $339.15
87 $104.74 $205.97 $307.21 $408.45
88 $122.06 $240.62 $359.19 $477.75
89 $139.39 $275.27 $411.16 $547.05
Male Prices
*** Rates always stay the same & the policy never expires ***
AGE $5,000 $10,000 $15,000 $20,000
80 $67.93 $132.65 $197.38 $262.11
81 $73.10 $143.00 $212.89 $282.79
82 $78.37 $153.54 $228.71 $303.88
83 $83.31 $163.41 $243.52 $323.62
84 $88.24 $173.28 $258.32 $343.36
85 $93.18 $183.15 $273.13 $363.10
86 $119.87 $236.25 $352.62 $469.00
87 $140.09 $276.67 $413.26 $549.85
88 $160.30 $317.10 $473.90 $630.70
89 $180.51 $357.52 $534.54 $711.55
How to get no waiting period life insurance policies for seniors over 80
It’s possible to get a policy that has immediate coverage even for folks in their 80’s.
Here’s the only way to do it.
To get no waiting period coverage, you must apply with an insurance company where you answer health questions and are approved. Also, you must work with an agent. You cannot get immediate coverage by dealing directly with the insurer.
You don’t have to take an exam, but you do need to complete a health questionnaire.
There are no exceptions to this rule.
Any policy where they do not ask about health will always have a 2-3 waiting period.
Understand that some websites will flat out lie to you about this to get you to click or call them.
It’s sad but true. Those fraudulent websites lie to you because they make money when you call or click on a “get quotes” button).
Again, you must apply with a company where you’re answering health questions and are subsequently approved.
You might be wondering…
Why do you have to work with an agent versus dealing directly with the insurance company?
Plans that have health questions are only available via licensed agents. They do not offer these plans direct.
With that in mind, if you ever deal directly with the insurance company (without talking to an agent), it will be a guaranteed acceptance plan that has no health questions.
Again, guaranteed issue plans with no health questions don’t have immediate coverage. They all have a 2-3 year waiting period clause (no exceptions).
If you want immediate coverage, call us at 1-800-644-2926, and one of our friendly agents will figure out if it’s possible in less than 60 seconds.
How much can you buy at this age?
Understand that your exact options depend on your age, state of residence, and health.
That said, $2,000 is generally the minimum amount of senior life insurance over 80 that someone could buy.
On the opposite end of the spectrum, $100,000 in coverage is generally the maximum (and it wouldn’t be cheap).
Keep this in mind.
To get to higher amounts of coverage ($50K and up), you may need to buy multiple policies from multiple companies (which is okay to do).
If you didn’t know, every insurance company has a minimum and maximum amount of coverage they will issue on any individual.
For the over 80 crowds, most carriers max out at $15-$40k. That’s why if you want a higher amount of coverage, you’ll likely need to buy more than one policy.
Get affordable life insurance for seniors over 80 years old from these companies
Some companies won’t accept new applicants who are 80 and above.
Rest assured, these companies do!
Below is a list of all the companies that offer final expense life insurance to seniors who are over 80.
You see quotes from any of these companies by using the quote tool that is on this page.
1) Mutual of Omaha 
- New applicant age availability: 45-85
- State availability: All States Except NY
- 80+ face amount limits: $2,000-$40,000
- 2-year waiting period: No (subject to underwriting approval)
- How to apply: Via licensed agencies such as Choice Mutual. They do not sell it directly.
Mutual of Omaha final expense life insurance is the least expensive company for seniors over 80. If you qualify for their plan, jump on it because you won’t find a better deal elsewhere!
Please note that if you call Mutual of Omaha directly, they will have a different policy they’ll offer you. It will cost more and have a two-year waiting period.
You can only buy their immediate coverage plan via agencies such as Choice Mutual.
2) Aetna
- New applicant age availability: 40-89
- State availability: All States Except NY
- 80+ face amount limits: $2,000-$25,000
- 2-year waiting period: No (subject to underwriting approval)
- How to apply: Via licensed agencies such as Choice Mutual. They do not sell it directly.
Aetna offers excellent underwriting that accepts many different health issues. Not to mention their policy has competitive pricing for this age bracket.
They are incredibly unique because they insure seniors over 85.
3) Transamerica
- New applicant age availability: 45-85
- State availability: All States
- 80+ face amount limits: $1,000-$25,000
- 2-year waiting period: No (subject to underwriting approval)
- How to apply: Via licensed agencies such as Choice Mutual. They do not sell it directly.
Transamerica is an old very financially sound insurance company.
Their life insurance over 80 will accept many health issues while being on par with the price of other insurance companies.
The best thing about Transamerica is they offer no waiting period coverage to applicants who have chronic health issues such as COPD.
4) American Amicable
- New applicant age availability: 50-85
- State availability: All States Except CT, ME, MT, NH, NY, VT
- 80+ face amount limits: $2,500-$20,000
- 2-year waiting period: No (subject to underwriting approval)
- How to apply: Via licensed agencies such as Choice Mutual. They do not sell it directly.
American Amicable is are another great company that combines competitive pricing with lenient underwriting.
Their plan also allows you to add a few different optional riders for only a few dollars extra.
5) Americo
- New applicant age availability: 50-85
- State availability: All States Except CT, ME, MT, NH, NY, VT
- 80+ face amount limits: $5,000-$30,000
- 2-year waiting period: No (subject to underwriting approval)
- How to apply: Via licensed agencies such as Choice Mutual. They do not sell it directly.
Americo has unique underwriting that allows many applicants to qualify for immediate coverage where other companies impose a waiting period.
Their rates are higher than most because they accept many health issues other carriers do not.
Companies that issue new coverage to seniors 86-90
There are only two companies that will issue a new life insurance policy to someone older than 85.
You cannot buy much more than $25,000 in coverage when you are 86-90 years old.
Aetna
Most people think Aetna only offers health insurance. It’s understandable, given that they are one of the largest providers of health insurance in the world.
Rest assured, they do offer final expense life insurance to folks older than 85. Aetna offers up to $25,000 in coverage for applicants as old as 89.
If you’re between 86-89, we can help you buy coverage with Aetna. Call us at 1-800-644-2926.
Security National Life
Although they are nowhere as renowned as Aetna, Security National Life is still a very secure and reputable life insurance company.
They have been operating for over 50 years and have an A- rating with A.M. Best.
Their prices and underwriting are inferior to Aetna’s. Plus, the maximum they offer is only $10,000.
Guarantee Trust Life
Guarantee Trust Life has been in business for over 85 years and currently has an A- rating with A.M. Best.
Their plan is generally only suitable for seniors who have severe health conditions. We say that because their program offers partial coverage during the first two years.
During the first year, they will refund 105% of the premiums that you’ve paid. During months 12-24, they will payout 50% of the death benefit. After two years, 100% of the death benefit will pay out for any cause of death.
You would only opt to apply with GTL if you had something serious, such as CHF, or recently had cancer.
If you’re between 86-90, we can help you buy coverage with Guarantee Trust Life. Call us at 1-800-644-2926.
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 are banking on you, expecting that you will not qualify elsewhere.
Then they come along with these attractive “offers,” and boom, you scoop it up, thinking it’s the best thing since sliced bread.
If you receive any of these “offers,” run because 99% of the time, there are much better options 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.
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 compared to buying a policy through a licensed agent.
Colonial Penn
Most people are familiar with Colonial Penn because they featured Alex Trebek in their commercials. Sadly, just because they have Alex as their company’s face does not mean their life insurance is superior.
The opposite is true.
For seniors over 80, Colonial Penn whole life plans all have three significant drawbacks:
- There is a mandatory two-year waiting period.
- It’s costly relative to other options out there.
- They won’t allow you to buy hardly any coverage amount (Roughly $7,500 is the max they offer for an 80-year-old female).
Simply put, there is no scenario where someone in their 80’s 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 advertise on T.V., through the mail, and online.
While they have done an excellent job selling much insurance, it’s not because it’s the best out there.
There are two big reasons you wouldn’t want to go with Lincoln Heritage if you’re trying to find life insurance for someone aged 80 or more.
- Even for healthy folks, their coverage costs much more compared to other insurers.
- Their underwriting is not favorable. Many seniors with common health issues qualify for their costly plan that has a two-year waiting period.
You can see their prices here, along with their underwriting, if you want further proof.
Mutual of Omaha direct
Suppose you deal directly with Mutual of Omaha. In that case, they will only offer you their guaranteed acceptance coverage with a two-year waiting period.
The Mutual of Omaha Living Promise no-waiting period plan is available only through licensed agencies such as Choice Mutual. You cannot buy their immediate coverage plan directly from them.
How to find the best burial insurance for seniors over 80
If you want to get the best price on a funeral policy for over 80, you have to find which companies accept your health issues.
Once you have that list, it’s just a matter of selecting whichever company is the least expensive.
Here’s the thing you must understand.
It’s just not possible for you, the consumer, to determine which carriers will approve you and which ones won’t. Only a licensed agent can do that.
To find the best burial insurance for seniors over 80, you must consult with an experienced final expense agency representing multiple insurance companies.
An independent agent will collect some basic information about your health to determine which companies will approve you.
Then they’ll recommend which one will offer the best rates.
Choice Mutual can help
If you need over 80 senior life insurance, we can help you. We could even help you if you wanted life insurance for a teenager.
Choice Mutual is a nationwide independent agency representing over 15 different insurance companies. Our sole focus is final expense life insurance for seniors.
We will shop the market for you to find you the best deal possible.
Look below at what our customers say after working with us.
If you would like some hassle-free help, give us a call at 1-800-644-2926. We will assess your situation and compare offers to find you the best deal.
How much does a funeral cost?
If you’re looking for coverage for end-of-life costs, it is essential to know how much a funeral costs.
The truth is, they cost a lot!
According to the NFDA, a funeral’s median cost is $8755, which includes a vault.
That’s a hefty bill.
A cremations service is less expensive, but even those aren’t cheap. The average cremation in 2020 is $6,260 (which includes the service itself).
Final funeral costs are important to consider when you are getting life insurance quotes for seniors over 80.
Assuming you can afford it, you ideally want to purchase as much coverage as needed to pay for your desired services.
Other end-of-life costs to consider
Outside of the cost of the funeral itself, you may need to address other bills too.
Here are just some examples you should consider when preparing for end-of-life costs.
- Credit card debt
- Medical bills
- Body transportation
- Travel expenses for out of town relatives
- Income loss
In an ideal setting, you will be able to afford as much coverage as it takes to pay for all costs that might occur upon your passing.
However, if your budget will not allow you to buy all the coverage you want, buy what you can afford.
Something is better than nothing.
It’s essential to choose a plan that has a comfortable monthly payment. Funeral life insurance for over 80 is no different from health, home, or auto insurance.
Your coverage is only good as long as you can make your monthly payments.
How to apply for life insurance for over 80 years old
Applying for coverage in your 80’s is super simple. It’s no different than if you were in your 50’s, 60’s, or 70’s.
There is no money due at the time of the application. The insurance companies allow you to decide when your payments begin.
Ultimately, the first step you to take is to contact an independent broker with free access to multiple insurance companies that are well suited for life insurance seniors over 80.
Whether you contact us or another agency, it’s generally a three-step process.
- Gathering health data and answering your questions.
- Complete and submit the application.
- Wait for the approval.
Every agency will do things differently, but here’s how it works with us.
Step# 1
We’ll begin by finding out about your health (or for whomever you are shopping for). Once we know about the proposed insured’s health, we can identify which companies would offer the best burial life insurance for senior citizens over 80.
Please remember this because it’s critical.
Some policies have no health questions, and they are available to the elderly over 80. However, these policies are usually more expensive, and they won’t pay out benefits if you die within the first 24 months.
To get the best rates and immediate coverage, you must apply with a company that asks about your health.
That is why we begin by finding out about your health. Our goal is to match you with companies that do ask health questions and will approve you.
This way, you’ll pay less and have coverage that doesn’t have a two-year waiting period.
Step# 2
Once we know which companies look at your health the best, we will pull quotes from each one. Then we would communicate the prices with you to decide which company you want to go with and how much coverage you prefer.
Generally, we recommend going with whichever life insurance company is offering the lowest rate. However, you get to decide which carrier you prefer.
Step# 3
Once you have selected a plan, it’s time to apply. We would begin by going over the health questions on the application. After that, we would fill out the entire application with you to submit it to the insurance company.
Now
There are three options regarding how you sign the application. The process will vary with each company. With that, here are the three options.
- Website signature: After you fill out the application with your agent, they provide you with an access code. This code allows you to log on to our website, where you will see the entire application. Once you verify everything is accurate, you press a button to sign the application electronically.
- Voice signature: Some insurance companies have a voice signature process where you complete and sign the application entirely by voice.
Essentially, once we have the application filled out with you, you apply your signature via voice. Your voice signature is equivalent to a wet signature with an ink pen.
- Email signature: Once we have the application filled out with you, you get an email from the insurance company to sign it. You click on a link in the email that brings up your application. Then you just click a couple of buttons to sign it, which will submit it to the insurance company.
Regardless of which method the insurance company has in place, there are no medical exams. There are no papers to fill out and no agent who will invade your private space.
What to expect after the application
After we have secured your approval, two things will happen.
- We send you a welcome packet.
- The insurance company mails you the actual policy that usually arrives at your house within 1-2 weeks.
We always send clients a welcome packet with your agent’s business card, a summary of your coverage, and some information about the insurance company.
We send this out immediately, so you would receive it within four business days.
The policy itself is usually mailed out right away by the insurer. It’s very uncommon for these insurance companies not to send the policy the moment you are approved.
You should expect to receive your policy within ten business days.
Once you get the policy, we urge you to read it to ensure there are no errors. If anything needs to be corrected, call us, and we will fix it immediately.
At the same time, if you have any questions about your policy, we encourage you to call us to resolve your concerns.
At this point, you don’t need to do anything but store your policy somewhere safe and prepare for your first payment on whatever day you selected.
There is nothing you need to sign and send back.
You can rest easy now because you’ve taken the necessary steps to ensure your funeral expenses never become a financial burden on your family.
Frequently asked questions
Below are some of the most common questions we’re asked about life insurance for seniors over 80 years old.
Email us if you have a question that is not answered in this article. The email to send it to is info @ choicemutual.com.
We’ll post your question with the answer within three business days.
Can you get term life for seniors over 80?
Term life for seniors over 80 does not exist. It’s not available due to the average life expectancy of a U.S. citizen.
It’s just too risky for a life insurance company to offer term life insurance at this age. You can only get whole life insurance when you’re 80 and older.
Can you get life insurance over 80?
Yes, you can get a new life policy when you’re over 80. Whole life insurance is the only option, and there are many insurance companies available.
Coverage amounts and premiums depend upon your age, gender, health, and resident state.
Is there life insurance over 80 with no medical exam?
Yes, there is no medical exam life coverage over 80. Most life insurance policies at this age do not require a medical exam.
Some don’t have any health questions where your acceptance is guaranteed.
Can you buy life insurance for elderly parents over 80?
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.
Can you get life insurance at age 85?
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 age of the applicant.
Can you get life insurance at 87?
A: It’s possible to get life insurance at 87, but the options are minimal.
A: There are only two companies in the USA that offer coverage at this age. Your ability to qualify is dependent upon your health and resident state.
Does life insurance over 80 always have a waiting period?
Some policies at this age have a waiting period, and some do not. To get one without a waiting period, you’ll need to qualify medically.
Most seniors who are 80+ can get a policy that has no waiting period.
Does AARP have life insurance over 80?
No, they don’t. 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.
