Many seniors do not think buying life insurance after the age of 70 is still possible. Senior citizens often fear higher premiums because of their age and pre-existing medical issues.

Can you get life insurance over 70?

Affordable life insurance for seniors over 70 is still very obtainable for even moderately healthy people.

Why Seniors May Need Life Insurance

As people get into their seventies, their need for life insurance tends to change.

Some people have a term life insurance policy which is ending and simple want to replace their expiring coverage with another term policy.

While, other folks are looking into buying a new policy for estate planning that will last for their entire lifetime.

Affordable Life USA pioneered the concept of providing affordable life insurance for seniors over 70 years old. We hope to match your underlying needs with the best type of coverage for your family.

Here are common needs covered with life insurance:

Mortgage Life Insurance – If you are trying to find cheap mortgage life insurance protection, term life insurance can be perfect policy for seniors needing to protect a mortgage.

– If you are trying to find cheap mortgage life insurance protection, term life insurance can be perfect policy for seniors needing to protect a mortgage. Income Protection for your spouse – If you have a spouse who relies on your salary, then a life policy will secure their financial future if something happens to you.

If you have a spouse who relies on your salary, then a life policy will secure their financial future if something happens to you. Pension Maximization Life Insurance – If you are retiring and elect to take a “single life option” with your pension, a pension maximization policy can provide for your spouse in the event you die early.

– If you are retiring and elect to take a “single life option” with your pension, a pension maximization policy can provide for your spouse in the event you die early. Pay for Final Expenses – A popular and predictable way to cover your last expenses is with final expense life insurance.

A popular and predictable way to cover your last expenses is with final expense life insurance. Create an Estate – If you are in decent health a universal life is the cheapest way to create an estate for children. These permanent cash value life insurance policies offer guaranteed premiums and death benefits which last for your entire lifetime.

These are only a few needs!

There may be over 20 different reasons why seniors should consider life insurance, according to industry veteran Marvin Feldman, in his recent post in Life Happens.

So, what is the best type of life insurance for seniors over 70 years old?

If you are a senior citizen, and people still depend on you financially, you might want to consider either term or universal life insurance to protect your family.

We assist seniors by providing affordable term and universal life insurance comparisons with easy to understand insurance planning concepts.

Term Life Insurance for Seniors Over 70

Most people also realize that as you get older life insurance rates go up in cost. However, if you are in decent health, you can get super term life insurance rates at almost any time in your life.

Advantages of Term Life Insurance for seniors over 70



Easy to Understand: Term life insurance for seniors does not have many moving parts and is easy to implement. Easy to Purchase: Some types of policies require a medical exam and blood work as part of the underwriting process, but many insurance companies offer term life for seniors without a medical exam. Low Cost Option: For most seniors the best reason to buy term life insurance is that the rates are typically much lower than permanent life insurance premiums.

Senior term life insurance is an excellent choice for people looking to obtain the largest amount of insurance at the most affordable cost.

Since, term insurance is much cheaper then whole life for insurance for seniors, it is often purchased by people needing more then a $500,000 death benefit.

However, selecting the best term life insurance for seniors over the age of 70 can be a bit tricky. This is only because certain term life insurance duration’s are only available at specific ages.

For example, a 20 year term is no longer available at the age 71 in today’s marketplace. So, people seeking life insurance at 70 years old must act now because this is the magic cut-off age for buying a 20 year term plan.

What if you need coverage for a long period of time?

If you are above age 72 there are a few companies which offer an affordable alternative to term insurance called hybrid universal life insurance.

These hybrid life plans have a similar cost structure to term insurance with coverage being locked until a specific age (90, 95 100).

However, most companies only offer 10 and 15 year duration’s on term life insurance for seniors over 75.

The idea is that you pay a premium for a set period of time with a specific coverage amount that will go to your beneficiary upon your death. If you live beyond this time frame your coverage will either end or become cost prohibitive.

This is a major reason why limited duration term life insurance polices should always be compared with longer running universal life coverage.