Life insurance for people aged 70 and older

Over 70? Find out more about your life insurance options and what you'll be covered for.


Now you’re in your 70s the chances are you’ll have fully stopped working and enjoying your retirement. Whether that means exploring the world or pruning your garden shrubs, life insurance can still be helpful. We explain why and what you can get cover for.

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

Now that many of your financial obligations are gone, you might be wondering whether getting life insurance is worth it? After all, you’ve probably paid off most of your mortgage and your children will have left home. Admittedly, life insurance will be much more expensive now you’re in your seventies too, yet it could still help you with:

  • Any outstanding personal debt
  • Any outstanding mortgage debt
  • Financial and estate planning expenses
  • Legal fees
  • Cost of living for spouse or other financial dependants
  • Provide legacy for children, grandchildren or charity

How long can you get cover for?

If you take out over 50s or over 70s life insurance, you’re not automatically covered forever. Insurers often set “maximum terms” which will be based on:

  1. A set amount of time. For instance, you’ll get 30 years of protection from the start of your policy.
  2. A set age. For example, your policy will give you cover until you’re 90 years old.
  3. Death. If you die before these maximum terms are up, the insurer will pay out.

Given insurance providers set these limits on life insurance, it’s vital you remain wary. Be vigilant, and always read the terms and conditions before signing on the dotted line.

How much does life insurance for people over 70 cost?

There’s no set price or rough figure, as insurance providers will use different factors when calculating your premium. However, there are a few main factors that all insurers take into account:

  • Age. Age is one of the main factors insurance providers look at, and once you’re into your 50s life insurance costs can start to rapidly increase. Some insurers won’t cover you once you’re over 80 though, so it’s worth acting quickly.
  • Pre-existing medical conditions. If you’ve suffered from a health condition insurers will see you as a greater risk, and your premiums could increase accordingly. Many over 70s policies offer insurance without medical exams, although these policies are often more expensive.
  • Health. If you smoke and have been diagnosed with any health conditions, insurers will bump your prices up.
  • How much cover you want. The higher your payout figure, the more you pay in premiums.

Bottom line

If you’re over the age of 70 and trying to find an affordable life insurance policy with adequate protection, it’s vital that you do your homework. Compare policies extensively and get quotes from insurers, so you can work out which provider offers the price you want. All the while staying on your toes and keeping an eye out for any exclusions or limits.

The offers compared on this page are chosen from a range of products we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations), aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When making a big financial decision, it's wise to consider getting independent financial advice, and always consider your own financial circumstances when comparing products so you get what's right for you.

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