life insurance for seniors over 75

Life Insurance for Seniors over 75 in the USA

To be clear, whether you are 75-years old or even 30 years younger, purchasing life insurance is critical for everyone. Unless you take the responsibility of having the funds available in advance, when you die, your final expenses will be passed on to your surviving loved ones. Certainly, you don't want to leave a burden on your surviving family members, especially when they are grieving your passing.

If you are considering life insurance whether you already have coverage or not, do it now; your insurance rates will never be lower than what they are while you read this article. Seniors who are 75 or older are typically looking for final expense insurance (also known as burial or funeral insurance) because they have had a life event of some sort to motivate them to get an insurance policy in place.


Can I Purchase Life Insurance if I'm 75 or Older?


The answer to this question is a resounding “yes.” In fact, if your health is in good shape you can buy term life insurance for less money than whole life, but when you think about the downside to term insurance at 75 or older, why would you? Consider these disadvantages:

  • Term insurance is temporary – Since you’d probably only qualify for a 10-year term policy, you could very possibly outlive your policy’s coverage.
  • Term Insurers Want Higher Coverage Policies – If you are looking for final expense or burial insurance, a term policy may not be right for you since the insurers will seldom accept a death benefit less than $50,000.
  • Term Insurance has little to no Living BenefitsWith term life insurance the policyholder is buying a death benefit only which means there is no cash value in the policy that could be used as living benefits.
  • The premium savings is not Worth It – Since the applicant typically has to purchase a $50,000 death benefit, the savings you get with term life insurance is not worth taking the chance on a temporary insurance policy.


Whole Life Burial Insurance for Seniors who are 75 or Older


The life insurance carriers who are serious about marketing to senior citizens understand that seniors want a life insurance product they can trust and comes with the guarantees and benefits of traditional life insurance. Whole Life Burial insurance for seniors provides coverage and benefits you can depend on:

  • Lifetime Insurance Coverage – Whole life insurance will remain in force for the rest of your life. Your insurance company is not allowed to cancel your policy for any reason other than non-payment.
  • Level Periodic Premiums – Once your insurance policy is approved and issued, your periodic premium (monthly, quarterly, semi-annual, or annual) will never go up. Even if you end up in a nursing home with a terminal illness, your insurance company cannot increase your insurance premium.
  • Cash Value – When your final expense life insurance is built on whole life insurance, your policy will build cash value over time that can be accessed and used for any reason you see fit. In fact, if you decided to take out a policy loan, your cash value continues to earn interest and there is no requirement for repaying the loan.


How Much Life Insurance Should I Consider Buying?


The amount of insurance seniors purchase depends on several things. Do you want to leave some money for a loved one or a charity? Do you want to buy enough to cover your funeral and burial expenses and maybe some unpaid medical or nursing home bills? How much life insurance depends on what you want it to do for you and your family and how much premium you can afford. For most seniors, a policy that will cover your funeral and burial expenses plus some extra money for other final expenses is pretty typical.

Since the average price of a funeral is between $8,000 and $10,000 there are typically about $5,000 in unpaid medical bills, most seniors purchase at least $10,000 or $15,000 in coverage as long as they can afford the premium. Remember, life insurance starts getting very expensive once you reach 65 years of age, but if you are healthy and a non-smoker, life insurance for seniors over 75 is still very doable.


How Much Should Seniors Expect to Pay if they are 75 or Older?


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Since the rates for life insurance are primarily based on your age, your health, and the death benefit you want, your final cost for life insurance will depend on these factors.

Here are actual insurance rates for a $10,000 final expense policy for  a male and female non-smoker in fairly good health:

Applicant Age

Death Benefit Male Non-Smoker

Female Non-Smoker


$10,000 $83.39



$10,000 $120.42



$10,000 $169.72



Here are actual insurance rates for a $15,000 final expense policy for a male and female non-smoker in fairly good health:

Applicant Age

Death Benefit Male Non-Smoker Female Non-Smoker
75 $15,000 $124.13



$15,000 $179.57 $131.26
85 $15,000 $249.76



Here are actual insurance rates for a $20,000 final expense policy for a male and female non-smoker in fairly good health:

Applicant Age

Death Benefit Male Non-Smoker Female Non-Smoker
75 $20,000 $164.24



$20,000 $238.71 $174.17
85 $20,000 $332.16



The rates listed above are actual rates but if you would like accurate rates based on your particular age, please use our world-class instant quoter on the right side of this page. If you find a rate that is right for you, please call us right away at (540) 226-8715 or fill out the application form in your quote results. Life Insurance for seniors over 75 will likely be more affordable than you thought.


Life Insurance for Seniors over 75 is Quick and Easy


Getting life insurance coverage today has never been quicker or easier. Final expense insurance policies do not require a medical exam or blood/urine test. In fact, many insurance companies who specialize in senior products allow their independent agents to sell insurance policies over the phone. The companies that require a face-to-face interview with an agent, however, typically have the lowest rates.

If this is the case for you, we've got you covered. We use a network of agents across the US to deliver the best value on whole life insurance products for seniors because final expense companies that offer the greatest value REQUIRE a face to face application completed by a licensed agent.

You can use our map and select your state to see which companies offer the best programs where you live. Click the map below to find the best final expense insurance rates in your state:

map of the U.S.

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The Bottom Line

When it comes to finding the best value in life insurance for seniors over 75, contact the professionals who go the extra mile to find the company that will deliver the most affordable solution of you and your company. Remember, your life insurance is not actually for you, it’s for the surviving loved ones who will have to deal with the final expenses you leave when you pass away.


We Help You Compare and Save!
For more information about Life Insurance for Seniors age 75 and older and to get a free and confidential life insurance quote, call the professionals at Life Policy Shopper at (540) 226-8715 during normal business hours, or contact our office through our website at your convenience.


Terry Biddle is a business owner, blogger, retired Army National Guard officer and a current federal employee. He works with seniors, federal employees, and members of the military to get the most life insurance benefits at the greatest value across the full spectrum of term and permanent products from fully underwritten to no-exam and guaranteed issue. Please feel free to contact me here.


Last Updated on September 3, 2020 by lifepolicyshopper