Yes, life insurance is available for individuals over 70, though the options are more limited and the premiums are significantly higher than at younger ages. The primary options include simplified issue whole life, guaranteed issue whole life, and in some cases, fully underwritten term or permanent coverage for applicants in excellent health. The appropriate choice depends on your health status, coverage goals, and budget.
For healthy individuals over 70, fully underwritten coverage may still be available from some carriers. Term policies with shorter durations (10-year or 15-year) and permanent policies may be offered to applicants who can demonstrate good health through a medical exam and records review. However, maximum issue ages vary by carrier and product — many term products have maximum issue ages of 70 to 80, and some whole life and universal life products accept applicants up to age 85.
Simplified issue products are a common choice for applicants over 70, offering coverage up to $25,000 to $100,000 with a health questionnaire but no medical exam. Approval typically takes a few days. Premiums are higher than fully underwritten coverage but provide a faster and less invasive process.
Guaranteed issue products accept all applicants within the eligible age range (typically up to age 80 or 85) with no health questions. Coverage is usually limited to $5,000 to $25,000 with a graded death benefit (full benefit not available for the first two to three years). Premiums are the highest per dollar of coverage but provide guaranteed acceptance.
At 70+, the primary coverage goals are typically final expense coverage, legacy gifts to children or grandchildren, charitable giving, or estate liquidity. A licensed agent in our network can help evaluate which option best fits your goals and budget. Guarantees are backed by the financial strength and claims-paying ability of the issuing carrier.