Life insurance for people aged 70 and older – Compare policies for seniors

If you're over 70, learn about your life insurance options and get covered today.

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Life insurance can provide critical financial support no matter what age you are. Most insurers have a maximum age that they’ll approve applicants for a life insurance policy. Keep in mind that each insurer has different criteria for assessing applicants and just because one insurer rejects the application, doesn’t mean they all will.

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Why we like: Policygenius

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What are the benefits of taking out life insurance over the age of 70?

It’s an opportunity to ensure you’ve taken care of future costs for you family and loved one. While someone in their 70s may not have the same coverage requirements as someone in their early 30s, it’s not uncommon for people in this age bracket to still have financial obligations that would need to be taken care of in the event of their death. Such financial obligations may include:

  • Any outstanding personal debt
  • Any outstanding mortgage debt
  • Financial and estate planning expenses
  • Legal fees
  • Cost of living for spouse or other financial dependents
  • Provide legacy for children, grandchildren or charity
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How much does life insurance for people over 70 cost?

Because each insurer takes different factors into consideration to help them determine a custom premium, there’s no set price for how much life insurance will cost for someone over 70. That said, applicants over the age of 50 usually pay a significantly higher amount for life insurance than younger applicants due to the increased risk of death from associated medical conditions.

For this reason, it’s beneficial to apply for life insurance at a younger age so you can lock in a competitive rate when you’re considered less of a risk to an insurer.

Companies that offer policies for seniors aged 70 or older

Name Product Issue Ages Coverage Range Medical Exam Required State Availability
20 - 85 years old
$100,000 to $2,000,000
Depends on policy.
Products and product features may not be available in all states.
This well-established life insurance provider could offer you $250,000 worth of coverage for as low as $14 per month.
18 - 100 years old
$50,000 to $3,000,000
This life insurance broker combines technology and the human touch to match you with a policy tailored to your needs.
21 - 54 years old
$50,000 to $1,000,000
Not available in New York
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
18 - 85 years old
$10,000 to $10,000,000+
Depends on provider and policy
All 50 states
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Haven Life
18 - 64 years old
$100,000 to $3,000,000
All 50 states
Customized term life insurance policies up to $3 million, no medical exam for certain applicants.
LadderLife™ Life Insurance
20 - 60 years old
$100,000 to $8,000,000
Not available in New York
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 80 years old
$50,000 to $25,000,000
Depends on provider and policy
All 50 states and D.C.
Get a quote within minutes from more than a dozen insurers.
JRC Life Insurance
20 - 80 years old
$25,000 to $10,000,000
All 50 states
Quickly get a quote for coverage with this marketplace, which compares term & whole life insurance policies from 45+ carriers.
25 - 60 years old
$100,000 to $5,000,000
Available in all states except for Montana
Offers term life insurance with accelerated underwriting. No-exam coverage up to $1,000,000 for those who qualify.
18 - 80 years old
$2,000 to $10,000,000
Depends on policy
Leap Life
18 - 75 years old
$100,000 to $5,000,000
Depends on provider and policy
Currently unavailable in New York
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What do underwriters take into consideration?

Just because you’re within the age requirements to get a life insurance policy doesn’t necessarily guarantee that your application will be accepted. You might have to pay a higher premium to have certain health risks covered in your policy or take on a life insurance option that excludes certain illnesses from being covered.

Either way, each insurer will take their own steps to determine whether they’re able to provide you with coverage based on a number of different factors. These include:

  • Any pre-existing medical conditions. It’s common for people over 70 to suffer from medical conditions that may present them as a greater risk to insurers. Any applicant with pre-existing conditions not covered under the policy will be required to undergo medical underwriting — this could include a medical questionnaire and details of medical history.
  • Whether they smoke. An insurer will not reject a claim based on whether or not the applicant smokes, though it will increase the cost of the policy significantly.
  • Amount of coverage required. Insurers will usually only provide reduced levels of coverage for applicants over certain ages.
  • Risky occupation or hobbies. The involvement in a particularly dangerous job or activity may lead to a higher premium or the application being rejected by the insurer.

These are just some of the factors that an insurer may take into consideration when assessing whether they will provide cover to someone over 70 years of age.

Bottom line

If you’re over the age of 70 and looking to find a reasonably priced policy with adequate coverage, it’s critical that you take the time to compare a range of different policies from different insurers. When you do your research, you’ll find that increased competition among life insurance providers has led to many insurers willing to make changes to policies in order to provide coverage.

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