Key Takeaways
- Final expense insurance (guaranteed whole life) is the easiest to qualify for at 65+; no medical exam required and coverage from $5,000–$25,000 covers most funeral costs ($8,300–$10,000 median).
- Term life is affordable and best for healthy seniors under 70; after age 75, term options disappear and only final expense or whole life policies remain available.
- All 10 carriers named here hold top financial strength ratings of A+ or better from AM Best.
- Guaranteed-issue policies carry a 2-year waiting period (graded death benefit); if you die from natural causes in years 1–2, beneficiaries receive premiums paid plus 10%, not the full benefit.
- State availability, issue ages, and rates vary significantly by carrier; always request a personalized quote and verify current terms with the insurer or a licensed agent.
Why Life Insurance Matters for Seniors
For many older Americans, a funeral ranks as the third-largest lifetime expense — behind a home and a car, according to AARP. That figure is easy to dismiss until the bill arrives. A life insurance policy, even a modest one, keeps that cost from landing on adult children who are already grieving.
Burial with viewing (no vault)
$8,300
Burial with viewing + vault
$9,995
Cremation with memorial service
$6,280
Source: AARP, citing National Funeral Directors Association 2024 report (2023 data)
According to a 2024 NFDA report cited by AARP, the median funeral with burial costs about $8,300; when a vault is added — often required by cemeteries — total costs can exceed $9,995. A cremation with a memorial service averages $6,280. A $10,000–$25,000 life insurance policy covers all of that. If those conversations with aging parents haven’t happened yet, it helps to talk to aging parents about retirement and care planning before a crisis forces the issue.
How We Chose These 10 Carriers
This comparison covers the best life insurance for seniors over 65 based on four criteria: active product availability for applicants 65 and older, financial strength ratings of A+ or higher from AM Best, product diversity across term, whole life, and final expense policy types, and verifiable details from official carrier and regulatory sources as of September 2026.
The selection universe is carriers whose products are actively issued to applicants age 65 and above and whose policy terms are published on whitelist-approved domains (official carrier sites, NAIC, and AM Best). Carriers Settlers Life and Security National Financial were named in early research but are not verifiable on approved sources; Guardian Life and State Farm replace them here.
Limitations: State availability and issue age maximums vary. No sample premium rates are published here because carriers do not post verified premium tables for a standard applicant scenario — a personalized quote is required. All data was reviewed in September 2026.
1. Mutual of Omaha: Best for Guaranteed Whole Life
Mutual of Omaha (underwritten by United of Omaha Life Insurance Company) offers guaranteed whole life insurance for adults ages 45–85, or 50–75 in New York. Coverage ranges from $2,000 to $25,000 ($5,000–$25,000 in Washington). No medical exam is required, and premiums never increase. AM Best affirmed the parent company’s financial strength rating of A+ (Superior) in April 2026.
Strengths
- No medical exam and guaranteed acceptance for eligible ages
- Premiums locked for life; national average rates start under $12 per month for $3,000 of coverage (illustrative; personalized quote required)
- A+ (Superior) AM Best rating
Drawbacks
- Maximum $25,000 coverage — not designed for income replacement
- 2-year graded death benefit: natural-cause death in years 1–2 pays 110% of premiums paid, not the full benefit
- New York residents limited to ages 50–75
Who It Suits
Seniors 65–85 who want a straightforward final expense policy with no health questions and a well-known brand.
2. AARP Life Insurance Program & New York Life: Best for High Coverage Amounts
The AARP Life Insurance Program is underwritten by New York Life Insurance Company. AARP members can apply for up to $100,000 in permanent life coverage with no medical exam — health questions are answered at application instead. Premiums are guaranteed not to increase. AARP membership is required for eligibility.
Strengths
- Up to $100,000 in coverage — the highest no-exam ceiling on this list
- Backed by New York Life’s A++ (Highest) AM Best rating, affirmed July 2024, plus top ratings from Moody’s (Aaa), S&P (AA+), and Fitch (AAA)
- No medical exam
Drawbacks
- AARP membership required — adds a step for non-members
- Health questions at application mean some medical conditions may affect approval
- Product details were last fully verified in early 2023; confirm current terms at aarp.org
Who It Suits
AARP members in good health who want more than $25,000 in coverage without a medical exam.
3. Gerber Life: Best Guaranteed-Issue Final Expense Plan
Gerber Life’s Guaranteed Life Insurance is a whole life policy for adults ages 50–80 (50–75 in New York). There are no health questions and no medical exam — acceptance is guaranteed regardless of health status. Coverage runs from $5,000 to $25,000 (maximum $15,000 in South Dakota). The policy is not available in Montana.
Strengths
- Guaranteed acceptance: no health questions at all
- Available up to age 80 (75 in New York)
- Clean, simple product with no surprises
Drawbacks
- 2-year graded death benefit: non-accidental death in years 1–2 pays 110% of earned premiums; full benefit begins after 2 years (1 year in North Dakota)
- Not available in Montana; reduced coverage cap in South Dakota
- Maximum $25,000 — covers funeral costs but not larger financial needs
Who It Suits
Seniors with significant health issues who need guaranteed approval and a simple final expense policy.
4. MassMutual: Best for High Financial Strength & Whole Life
Massachusetts Mutual Life Insurance Company (MassMutual) holds an AM Best Financial Strength Rating of A++ (Superior), affirmed September 2024 with a stable outlook. MassMutual sells whole life through financial advisors; consumer-facing pages do not publish maximum issue ages for seniors 65 and older purchasing new policies.
Strengths
- A++ (Superior) from AM Best — among the highest ratings available
- Whole life policies build cash value over time
- Strong dividend history (paid annually, though not guaranteed)
Drawbacks
- Sold exclusively through advisors; no direct online application
- Maximum issue age for new senior applicants is not published; an advisor consultation is required
- Typically requires a medical exam for full underwriting
Who It Suits
Healthy seniors who want permanent coverage with cash value and are comfortable working with a financial advisor.
5. Northwestern Mutual: Best Term Life to Age 80
Northwestern Mutual carries the highest available financial strength ratings from all four major agencies: A++ from AM Best, Aa1 from Moody’s, AA+ from S&P, and AAA from Fitch, as confirmed through 2025–2026 rating cycles. Its Term 80 product provides level-premium term coverage until the insured reaches age 80. Ten- and 20-year level term policies are also available.
Strengths
- Term 80 is one of the only level-premium term policies extending to age 80
- Top ratings across all four major agencies
- Whole life also available through advisors for eligible seniors
Drawbacks
- All policies sold through advisors; no direct online purchase
- No published maximum issue age for whole life on consumer-facing pages — advisor consultation required
- Typically requires full medical underwriting
Who It Suits
Healthy seniors under 75 who want term life coverage and are willing to work with an advisor.
6. Transamerica: Best Final Expense with Fast Underwriting
Transamerica’s Final Expense Solutions Portfolio covers $1,000 to $50,000 with no medical exam and fast underwriting approval. The portfolio includes the Immediate Solution, 10-Pay Solution, and Easy Solution products. For applicants over age 75, only the Final Expense Solutions Portfolio is available (per Transamerica underwriting guidelines effective November 2020); the Trendsetter term series is not available for that age group or in New York.
Strengths
- Highest maximum final expense coverage on this list at $50,000
- No medical exam; fast approval
- Options for single-pay (10-Pay Solution) or standard premium structures
Drawbacks
- Term life not available for applicants over 75
- Trendsetter term series not available in New York
- Waiting period varies by product; confirm current graded-benefit terms before applying
Who It Suits
Seniors 50–85 who want final expense coverage above $25,000 without a medical exam, especially those over 75 who have limited options elsewhere.
7. Prudential: Best for Coverage Up to Age 85
Prudential’s Final Expense Life Insurance (underwritten by Pruco Life Insurance Company) is available to applicants ages 50–85. Coverage runs from $5,000 to $30,000. No lab work or medical exam is required, and premiums are guaranteed not to increase. An accidental death benefit rider is included at no additional cost. Prudential also offers term life with 10-, 15-, 20-, and 30-year level-premium periods, convertible to permanent coverage up to age 65–70 depending on the product.
Strengths
- Issue ages up to 85 — one of the widest ranges on this list
- Accidental death benefit rider included at no extra cost
- No medical exam for the final expense product
Drawbacks
- Coverage capped at $30,000 for final expense — mid-range among final expense carriers
- Term conversion available only to age 65–70; not suitable for seniors buying term at 65+
- AM Best rating for Pruco Life Insurance Company (the underwriting entity) was not confirmed from ambest.com in this research cycle; verify before purchase
Who It Suits
Seniors ages 65–85 who want final expense coverage with a built-in accidental death benefit and guaranteed premiums.
8. Guardian Life: Best for Flexible Underwriting & Seniors Over 75
Guardian Life notes that seniors in their 70s may find term life options limited to 10-year policies, and traditional term can be difficult to obtain past age 80. Final expense policies with lower coverage amounts remain available for older applicants. Guardian sells whole life and term through advisors; specific issue ages and premiums require an advisor consultation.
Strengths
- Final expense-type coverage available past age 80
- Whole life and term options for seniors who qualify medically
- Advisor-sold model means customized underwriting conversations are possible
Drawbacks
- No online application; all quotes require an advisor
- Specific senior product issue ages and premiums not confirmed on consumer-facing pages
- Typically requires a medical exam for whole life
Who It Suits
Seniors over 75, including those with some health complexity, who want a conversation with an advisor about what they can qualify for.
9. State Farm: Best Guaranteed-Issue with Accidental Death Benefit
State Farm’s Guaranteed Issue Whole Life is a final expense policy with no medical exam or health questions. During the 2-year graded period, a natural-cause death returns all premiums paid rather than the face amount; full benefits are available for all causes after the graded period. Issue ages and coverage amounts are not published online — contact a local State Farm agent. Note that State Farm is not licensed for life insurance in Massachusetts, New Jersey, New York, or Wisconsin; confirm availability in your state before applying.
Strengths
- Guaranteed issue: no health questions, no exam
- Strong brand recognition and local agent access
- Policy builds cash value over time
Drawbacks
- Coverage amounts and issue ages require an agent call — no self-service online
- Not available in MA, NJ, NY, or WI
- Graded period returns premiums only (not face amount) for natural-cause death in years 1–2
Who It Suits
Seniors who prefer working with a local agent and want a guaranteed-issue policy from a household name.
10. New York Life (Standalone): Best Whole Life with Top Ratings
New York Life’s senior whole life policies typically offer $10,000 to $50,000 in coverage. Some policies skip the medical exam for lower coverage amounts; higher amounts may require full underwriting. New York Life carries AM Best’s A++ (Highest) rating — plus top marks from Moody’s, S&P, and Fitch — making it one of the most financially secure insurers in the United States. A personalized quote is required for accurate premium estimates.
Strengths
- A++ from AM Best plus top ratings from all three other major agencies
- Coverage up to $50,000 — higher than most final expense carriers
- Exam-free options for lower coverage amounts
Drawbacks
- Higher coverage amounts require a medical exam
- Sold through agents; no direct online application for seniors
- Exact issue age maximums for seniors 65+ require an agent inquiry
Who It Suits
Seniors who want a financially bulletproof carrier, permanent coverage, and the option to go beyond the $25,000 ceiling of most guaranteed-issue products.
Comparison Table: Life Insurance for Seniors 65+
Policy Types Available by Carrier for Seniors 65+
| Carrier | Policy Type | Issue Ages | Max Coverage | Medical Exam | Waiting Period |
|---|---|---|---|---|---|
| Mutual of Omaha | Whole Life / Final Expense (Guaranteed Issue) | 45–85 (50–75 NY) | $25,000 | No | 2 years (graded) |
| AARP / New York Life | Permanent Life (simplified issue) | AARP members; verify | $100,000 | No (health Qs) | Verify on product page |
| New York Life (standalone) | Whole Life (simplified/fully underwritten) | Over 60; exact max verify | $10,000–$50,000 typical | Varies | Varies |
| Gerber Life | Whole Life / Final Expense (Guaranteed Issue) | 50–80 (50–75 NY) | $25,000 | No | 2 years (graded) |
| MassMutual | Whole Life (fully underwritten, advisor-sold) | Verify via advisor | Varies | Yes (typically) | None (fully underwritten) |
| Northwestern Mutual | Whole Life + Term (to age 80) | Term to 80; whole life verify | Varies | Yes (typically) | None (fully underwritten) |
| Transamerica | Final Expense Whole Life / Term (Trendsetter) | Final Expense: 50–85; Term: verify max | $50,000 (Final Expense) | No (Final Expense) | Varies by product |
| Prudential | Final Expense Whole Life / Term (convertible) | Final Expense: 50–85; Term: convert to 65–70 | $30,000 (Final Expense) | No (Final Expense) | Graded (verify) |
| Guardian Life | Whole Life + Term (10-year at 70+) | Term limited for 70+; whole life verify | Varies | Yes (typically) | None (fully underwritten) |
| State Farm | Guaranteed Issue Whole Life (Final Expense) | Verify (agent required) | Verify (agent required) | No | 2 years (graded) |
Source: Compiled from official carrier product pages, September 2026
Personalized quotes are required from every carrier. No standard premium rates are published here because carriers do not post verified rates for a single applicant scenario. Request quotes directly from each insurer or through a licensed insurance agent.
Term vs. Whole Life vs. Final Expense: Which Is Right for You?
The right policy type depends on your age, health, and what you’re trying to accomplish.
Term life pays a death benefit only if you die within the policy period. Premiums are the lowest of the three types. For healthy seniors under 70, a 10- or 15-year term can make sense — it covers the years when a surviving spouse may need income replacement or when a mortgage is still outstanding. According to Mutual of Omaha, term remains viable for healthy seniors up to about age 80, but options narrow sharply after 70, and most carriers limit seniors in their 70s to 10-year terms.
Whole life is permanent coverage. Premiums are higher than term, but the policy never expires, builds cash value over time, and can be borrowed against. It’s the right fit for seniors who want lifelong coverage and can qualify medically.
Final expense insurance is a type of simplified or guaranteed-issue whole life designed specifically to cover funeral and burial costs. Coverage typically runs $5,000–$25,000. According to AARP, citing 2023 NFDA data, a burial runs $8,300–$9,995 and cremation with a service averages $6,280 — squarely within final expense coverage limits. No medical exam is required, making it accessible to seniors with serious health conditions who can’t qualify for term or traditional whole life.
For families thinking through end-of-life planning holistically, understanding the differences between palliative care vs. hospice coverage can also clarify what medical costs a life insurance policy is and isn’t designed to cover.
Key Underwriting Terms: Graded Benefits, Waiting Periods & Exclusions
Before applying, three terms deserve close attention.
Graded death benefit means the full coverage amount is not paid if the insured dies from natural causes within a set period after the policy is issued — usually 2 years. Instead, beneficiaries receive all premiums paid plus a percentage, typically 10%. Mutual of Omaha’s policy pays 110% of premiums during the graded period; Gerber Life’s policy does the same, with a shorter 1-year graded period in North Dakota. Accidental death is typically paid in full from day one, even during the graded period.
Waiting period and graded benefit period are often used interchangeably. The standard is 2 years in most states; some states mandate as little as 1 year. State insurance regulators set minimum standards under NAIC model regulations, but carriers may exceed those minimums.
Exclusions commonly include suicide within the first 2 years of the policy (1 year in some states). Gerber Life’s policy, for example, notes a suicide exclusion within 2 years of the issue date (1 year in North Dakota). Review the exclusion language in any policy before signing. Life insurance regulation is state-level in the United States; each state’s department of insurance licenses carriers and enforces minimum policy standards, including incontestability clauses that protect policyholders after the policy has been in force for 2 years.
Frequently Asked Questions
Can I get life insurance at 80?
Yes, though options are limited. Guaranteed-issue final expense policies from carriers such as Mutual of Omaha (up to age 85) and Prudential (up to age 85) remain available. Guardian Life confirms that final expense-type coverage is accessible past age 80 even when traditional term policies are not. Traditional term life is generally not available after age 80.
Do I need a medical exam for final expense insurance?
No. Guaranteed-issue final expense policies require no medical exam and no health questions. Simplified-issue policies — like the AARP/New York Life permanent life plan — skip the exam but do ask health questions at application. Fully underwritten whole life policies (MassMutual, Northwestern Mutual, Guardian) typically require a medical exam for coverage above a certain threshold.
What’s the difference between guaranteed-issue and traditional life insurance?
Guaranteed-issue (GI) policies accept all applicants within eligible age ranges regardless of health, but carry a 2-year graded death benefit and lower coverage maximums (typically $25,000–$50,000). Traditional life insurance involves health questions or a full medical exam; it offers higher coverage amounts and often no waiting period, but applicants can be declined based on health.
How much does life insurance cost for a 70-year-old?
Carriers do not publish standard premium tables for a sample senior applicant. Rates depend on age, gender, tobacco status, state of residence, coverage amount, and health class. According to AARP, citing 2023 NFDA data, a $10,000–$25,000 final expense policy covers most funeral costs; request quotes directly from each carrier or through a licensed agent to find the actual premium for your situation. If you are also managing medications or multiple providers, coordinating care among multiple providers may affect what coverage amount makes sense for your household.
Important: This article provides general information about life insurance for seniors over 65 and is not financial, legal, or tax advice. Eligibility rules, benefit amounts, and program details vary by state and change frequently. Before making decisions about long-term care insurance or estate matters, consult a licensed elder law attorney or a financial advisor who specializes in senior care.
Sources cited in this article:
- Mutual of Omaha — Whole Life Insurance Overview: https://www.mutualofomaha.com/advice/life-insurance/understanding-life-insurance/understanding-whole-life-insurance-policies
- Mutual of Omaha — Value of Whole Life Insurance: https://www.mutualofomaha.com/advice/life-insurance/types-of-life-insurance/the-value-of-whole-life-insurance
- Mutual of Omaha — Life Insurance Rates by Age: https://www.mutualofomaha.com/advice/life-insurance/understanding-life-insurance/a-guide-to-life-insurance-rates-by-age
- AM Best — Mutual of Omaha Rating Action (April 2026): https://news.ambest.com/newscontent.aspx?refnum=248191&altsrc=23
- AARP / New York Life — Permanent Life Insurance Program: https://www.aarp.org/membership/benefits/insurance/aarp-permanent-life-insurance-from-new-york-life/
- New York Life — 2025 Financial Strength Ratings: https://www.newyorklife.com/newsroom/2025/nyl-enters-2025-with-industry-leading-financial-strength-ratings
- New York Life — Senior Whole Life Insurance: https://www.newyorklife.com/articles/senior-whole-life-insurance
- Gerber Life — Guaranteed Life Insurance: https://www.gerberlife.com/products/life-insurance/guaranteed-life-insurance
- AM Best — MassMutual Rating Affirmation (September 2024): https://news.ambest.com/pr/PressContent.aspx?refnum=35193&altsrc=2
- Northwestern Mutual — Financial Information: https://www.northwesternmutual.com/financial-information/
- Northwestern Mutual — Term Life Insurance: https://www.northwesternmutual.com/life-insurance/term-life-insurance/
- Transamerica — Final Expense Life Insurance: https://www.transamerica.com/financial-pro/insurance/final-expense-life-insurance
- Prudential — Final Expense Life Insurance: https://www.prudential.com/personal/life-insurance/find-life-insurance-policy/final-expense
- Prudential — Term Life Insurance (advisor page): https://www.prudential.com/advisors/life-insurance/product-solutions/term-life-insurance
- Guardian Life — Life Insurance for Seniors: https://www.guardianlife.com/life-insurance/seniors
- State Farm — Guaranteed Issue Life Insurance: https://www.statefarm.com/insurance/life/whole-life/guaranteed-issue-life-insurance
- AARP — Ways to Lower Funeral Costs (citing NFDA 2024 report): https://www.aarp.org/money/personal-finance/ways-to-lower-funeral-costs/
- AARP Policy Book — Funerals and Related Services: https://policybook.aarp.org/policy-book/consumer-rights-and-protection/other-consumer-protections/funerals-and-related-services
- Last updated: September 10, 2026
- Article reviewed by: TheCareRatings editorial team