There is this misconception that seniors over 80 can no longer get life insurance. However, there are actually several insurance companies that offer life insurance for seniors over 80. In order to cover the accelerating funeral costs, it is always safe to get a policy. If you are planning to buy one, there are important things that you need to know so you can get the best deal.

Looking for an Affordable Policy for Seniors Over 80? 

Get Instant Quotes Here!

Health Condition and Your Policy

Most of the times, an underwriter checks the health condition before issuing any policy. For seniors over 80, it is very common to have some minor health problems. You can be qualified easily with medical tests if there is no major health problem. Just don’t be afraid of the medical tests from the beginning.

However, if you believe that you can’t be qualified after medical tests, you can go for the guaranteed policy with no waiting period which is expensive but EASY to get.

No worries! Below, I have discussed how you can get an affordable policy.

Depending on your need, you can choose the kind of life insurance you want to buy since there are different varieties of life insurance for elderly over 80.

Term Life Insurance – Is It Beneficial?

life insurance for seniors over 80

This life insurance policy gives financial protection for a certain period of time (Not more than 20 years for someone over 80). Compared to permanent life insurance, term life insurance is a less costly choice. Many prefer to avail this as it can cushion lost potential income and it can serve as a safety net. However, in getting term policy you need to take note that you are covered only for the specific timeframe. It is helpful to cover the mortgage, any debts as well as burial expenses, more here.

Universal Life Insurance – Is It a Good Choice?

If you are looking for a life insurance that can offer lifetime coverage, you should get the universal life insurance. This is different from the whole life insurance since it is much more flexible which means that you have the option when it comes to the amount of premium payment you want to pay and the coverage amount. And since it provides lifetime coverage, universal life insurance charge higher premiums compared to term life insurance. Should you get a universal life insurance? It basically depends on your goal. This insurance is often used by many to preserve wealth.

Whole Life Insurance – Fixed Premium

Another kind of permanent life insurance that is created to give lifetime coverage is the whole life insurance. Same as universal life insurance, it has higher premiums. But the difference is that the premiums payments are usually fixed and the whole life features a cash value.

Should I Get a Term or a Whole Policy?

After deciding which life insurance policy to get, the next step is to determine as to whether you should get a term or a whole policy. For age 80 and above, it is strongly recommended that you get a whole life insurance. The reason behind this is that you can get a lower premium compared to getting term life policy at this age.

However, if you want to cover a small amount, in that case, term life insurance could be the best choice.

How About a Graded Life Insurance?

Another option for seniors over 80 years is the graded life insurance. However, you should take note that you may not qualify for the death benefit if you’re to pass within 2 to 3 years of buying the policy. But once it has matured, your beneficiaries can get the complete death benefits stipulated in your life insurance contract.

Features of Life Insurance

Life insurance is also known as a burial policy and prior to getting one. The following outlines the features of a life insurance policy:

Age: It is one of the primary factors that determine the premium you have to pay when you want to get an insurance package. The plans may vary depending on the insurance package. Some insurance companies accept applicants age over 90. Hence, getting a policy for seniors over 80 is not going to be difficult for you.

Cost: The cost of an insurance policy varies depending on the age and the coverage amount so it is just a matter of finding a plan that best fits your budget and your needs.

Death Benefits: In terms of death benefits, the coverage amount may range from $5000 to $25000.

Questions About Health: You may be required to answer some health questions. But there are insurance providers that don’t ask health questions.

How Do You Get Low Premiums?

For any person who wants to purchase an insurance policy, the goal is to find one that has low premiums but allows you to maximize the potential benefits that you can get. However, seniors over 80, there are ways to have low premium especially if you did not have any major surgery (here is a list of major surgery) and any serious health condition.

To get low premiums, you have to stop smoking and drinking. These two habits are the root causes of a myriad of health problems among adults and worst, are also the causes of death. A year before applying for a life insurance, it is the best that you quit smoking and drinking.

If you have a minor health problem, you don’t have to worry since it should not impact the premiums. Then again if you know that you have a condition that can affect the premiums you will have to pay, then it is strongly recommended that you get a no-exam life insurance. The premiums are slightly more expensive but you are guaranteed that your insurance application is approved for this kind of policy you want to get.

Some insurance companies may require that you undergo medical tests. If you feel like you would not qualify for much lower previous, you might want to choose this option. You don’t have to worry about undergoing certain tests. The healthier you are, the higher the chance you can lower your premiums. Even if you cannot lower them, it is still a must that you get a life insurance so your loved ones can get your death benefits upon the time of your death.

Finding the Low Cost Life Insurance for Seniors Over 80

Every person has different needs and has their own situation. So when it comes to finding the best life insurance for your parents, it is always best to take the time to compare the different choices.

Here are some tips to help you find the best life insurance deal:

Make sure that the insurance provider has a good reputation. A lot of people end up having problems later on since some insurance companies may file for bankruptcy or some companies are just scam insurance providers. Check if the insurance company has been around for years. There have been a lot of cases where scammers pose as insurance providers.

We are offering quotes from top carriers, click here & save up to 75%.

Compare the different prices and once you have finally sorted your options, it is now much easier for you to determine which insurance policy is the best deal. Just because you pay expensive premiums does not mean that you have the best deal. Apart from comparing the prices, delve into the details of the contract. Read the terms and conditions along with the other pertinent details stipulated in your life insurance policy.


There is no arguing in the importance of having a life insurance. Even for seniors above 80 years old, they can still get a life insurance. By having a life insurance, seniors never have to worry about the people that they are going to leave behind since you know that they can get the benefits of your life insurance.