Why seniors buy life insurance
Covering funeral and final expenses so loved ones aren't left with the bill.
Leaving a legacy or inheritance to children or grandchildren.
Paying off remaining debts, or replacing income for a surviving spouse.
Common options for seniors
Final expense whole life — smaller, permanent coverage aimed at end-of-life costs.
Guaranteed issue — no medical exam and limited health questions, for those who may not qualify elsewhere (smaller amounts, usually a waiting period).
Smaller term or whole life — for those in good health who want more coverage.
What affects approval and cost
Age and health are the biggest factors, and premiums are higher than they would have been at a younger age. Some options skip the medical exam, but you still answer health and lifestyle questions. Approval is never guaranteed.
What to watch for
Guaranteed issue policies often have a waiting period (commonly the first couple of years) before the full benefit is paid for non-accidental causes, and coverage amounts are limited. If you can qualify for a standard policy, it's usually a better value.
Ready to see what may fit?
Start a quick quote, or talk with a licensed agent — no obligation, and approval is never guaranteed.