Yes, you can get life insurance for senior citizens over 80.

Even more, coverage with no waiting period is still possible even at this age.

This guide will lay out all your options, the best companies, 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 or other 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, final expenses, legacy for heirs0-80: No
81-85: Yes
Term Life0-80$50,000+$150-$1,000Financial debts0-79: No
80: Usually

 

Final expense insurance policy

Burial insurance for seniors over 80 is a small whole life policy that does not require a medical exam. They offer lenient underwriting, so past and present health conditions won’t be a barrier to entry.

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 final 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 them the money to carry out your final wishes.

Because they are whole life insurance plans, the rates don’t increase, the coverage doesn’t decrease, and the policy will never expire. Also, they build cash value. You can borrow from the cash value as it accrues over time.

 

Traditional whole life policy

Regular 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. However, buying $100,000 or more will likely require a medical exam. Also, if you’re 81+, expect a medical exam regardless of how much coverage you want.

All whole life insurance builds cash value and offers 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 quoting tool on this page if you do need a significant death benefit (for any reason).

If you’re 80+ and need a big policy, abandon the idea that you will buy your policy online. That will not happen. You need to speak with an experienced 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 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 per month 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 prematurely terminate.

 

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 coverage. 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 definitely have to take a medical exam to get a term life insurance 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. The exact price is determined based on gender, age, state of residence, health, and the amount of coverage you want.

No matter which type of life insurance you’re considering, the price you pay depends on a variety of factors.

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

To give you a sense of what you should expect to pay, check out the tables below.

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.

 

Burial life insurance rates at age 80

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

Burial life insurance rates at age 81

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

Burial life insurance rates at age 82

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

Burial life insurance rates at age 83

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

Burial life insurance rates at age 84

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

Burial life insurance rates at age 85

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 80-85.

So if you’re aged 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 covered 100% the day you make your first payment.

It could be for natural or accidental causes of death, and the insurer would still have 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.

There are no exceptions to that rule.

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

If you want immediate final expense insurance for a senior over 80, call us at 1-800-644-2926.

One of our friendly agents will determine if it’s possible in less than 60 seconds.

 

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 five of the best companies that offer final expense life insurance to seniors who are over 80.

You 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 3 Business Days
Common conditions still eligible for no waiting period coverage:

 
 

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: 5 Minutes-3 Business Days
Common conditions still eligible for no waiting period coverage:

 
 

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:

 
 

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: 50-80
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $2,500-$35,000 (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: 15 minutes
Common conditions still eligible for no waiting period coverage:

 

 

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: 50-85
2-Year Waiting Period: No (subject to underwriting approval)
Coverage Amount Range: $5,000-$30,000
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: 10 Minutes
Common conditions still eligible for no waiting period coverage:

 

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) such as Choice Mutual has free access to multiple insurance companies.

They can compare offers from multiple insurance companies to find you the best deal.

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 three-step process.

Here’s the process most agents will follow:

  1. Answer any questions you have.
  2. Gather health data about the person who will be insured.
  3. Fill out the application and acquire signatures from all parties.
  4. Submit the application to underwriting for approval.
  5. Notify you once the policy is approved.

Every agency will do things differently, but here’s how it works with Choice Mutual.

 

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.

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.

 

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.

There are generally four options regarding how you sign the application. The process will vary with each insurance company.

That said, here are the four basic options available with most insurance carriers.

  • 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 to see the entire application. Once you verify everything is accurate, you press a button to sign the application electronically.
  • Security question signature: Your agent would read you a few disclosures and then ask you to apply a signature by providing the answer to various security questions.
  • Voice signature: Some insurance companies have a voice signature process where you complete and sign the application entirely by voice.
  • 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 click a couple of buttons to sign it, which will submit it to the insurance company.

There are no medical exams regardless of the insurance company’s method. There are no papers to fill out and no agent who will invade your private space.

Once the application is approved, you will get the paper policy in the mail within 1-2 weeks.

 

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, 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 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.

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

The opposite is true.

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 out there.
  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 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.

  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 coverage 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 age 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

Can you get term life for seniors over 80?

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 from 81+.

It’s just too risky for a life insurance company to offer term life insurance beyond 80. Whole life insurance is still available past 81, though.

Can you get life insurance over 80?

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.

Can you get life insurance for seniors over 80 no medical exam?

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.

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 applicant’s age.

Can you get life insurance at 87?

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.

Does life insurance over 80 always have a waiting period?

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.

Does AARP have life insurance over 80?

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.