Life Insurance for Seniors: Coverage Options After 65

Life insurance isn’t just for the young—it’s a valuable tool for seniors too. Whether you’re 60, 70, or older, life insurance can provide peace of mind by covering final expenses, protecting your spouse, or leaving a legacy for your family. While premiums are higher with age, seniors still have strong coverage options.

Why Seniors Need Life Insurance

• Cover final expenses such as funeral costs (avg. $8,000–$12,000).

• Protect a spouse’s lifestyle after your passing.

• Pay off debts such as mortgages or medical bills.

• Leave an inheritance or charitable gift.

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Coverage Options for Seniors

1. Term Life Insurance

• Affordable option for healthy seniors.

• Coverage lasts 10–20 years.

• Best for paying off remaining mortgage or providing income replacement.

Example: A 65-year-old male non-smoker can expect to pay around $200/month for a 10-year, $250,000 policy.

2. Whole Life Insurance

• Permanent coverage that lasts a lifetime.

• Builds cash value.

• Guaranteed death benefit payout.

Example: A 65-year-old female non-smoker may pay $500–$600/month for $250,000 of coverage.

3. Final Expense Insurance (Burial Insurance)

• Designed to cover funeral and small debts.

• Lower coverage amounts ($5,000–$50,000).

• Easier to qualify for, often with no medical exam.

Example: A 70-year-old male can expect premiums starting around $70/month for $10,000 coverage.

Table: Sample Life Insurance Rates for Seniors (Non-Smokers)

Age	Coverage Type	Male Monthly Cost	Female Monthly Cost
60	Term ($250k, 10 yrs)	$120	$95
65	Term ($250k, 10 yrs)	$200	$160
70	Whole Life ($250k)	$720	$580
75	Final Expense ($10k)	$90	$75

Women typically pay less due to longer life expectancy.

Seniors With Health Conditions

Even if you have pre-existing conditions, coverage is possible:

• Guaranteed Issue Policies require no medical exam.

• Higher premiums, but peace of mind knowing approval is guaranteed.

  
  

Life insurance for seniors is about more than money—it’s about ensuring your loved ones are protected from financial stress. Whether you choose term, whole, or final expense coverage, there are options to fit your goals and budget.

At Connect to Coverage, we specialize in helping seniors find the right policy at the right price. Request your free senior life insurance quote today.