It’s definitely possible to get an affordable life insurance for seniors over 85 and there will be no waiting period.

Stay with us, we will show you to the right policy.

Nowadays, life insurance for people over 85 is a necessity as the economy is changing rapidly and inflation continues to rise.

Hence, seniors have to prepare themselves financially so that they can afford to live.

If you suddenly pass away then this can cause a burden for your loved ones who may be responsible for handling whatever debts that you do have.

Despite a person’s age, there are flexible options for life Insurance over 85.


Before we go ahead with the available options for life insurance to the seniors, let us learn what drives the elders at this stage of their life to think so rigorously about insurance!

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To know everything keep reading or click on any of the links below to find a specific section.

Why Do the Seniors of 85 or Above Need Life Insurance Policy?

In order to understand the need for life insurance policy for seniors, you should read the following points:

Self Sufficiency

Life Insurance for Seniors Over 85Until the age of 85, they must have lived a life of self-reliance. When you approach the later stages of life, you realize that things are not very much in your own control.

Such as illness (personal or that of any other member of the family), rituals, traditions, family expenses etc everything keeps on running at its own pace.

With a lack of income or no income, it is not possible to live independently. An insurance policy helps the senior citizen to become self-sufficient.

They can borrow some loan on their policy and repay it later at a comfortable pace. Thus their requirements can be easily met and they do not have to look around for support in the time of need.

Supporting the Younger Ones

The mortality of life is very well known. When the seniors understand that their life can end anytime soon, they wish to leave some precious gifts for their younger ones.

They want to be remembered as the “provider” by their children throughout life. Only life insurance policy can help in fulfilling their wish.

Ensuring The Life Of The Partner

When the couples realize that one of them will be the first one to decrease, they naturally get worried about their better halves. In order to ensure the financial future of their surviving partner- they buy life insurance policy.

At times both the partners are seen to be purchasing the life insurance policy given to the uncertainty of life at this stage. They nominate each other in their policies. If any of them dies first, the other one can have enough to survive considerably.

Dignified Funerals

We often meet people with their last wishes of being cremated in a particular manner. Some of them do not want their families or anyone else to bear the burden of their funerals and last medical expenses.

They buy life insurance policies so that their funerals can be done in the expressed way without having to worry about money.

These are some of the reasons that lead people at the late age of 85 years to buy insurance policies. Now let us learn about the options available to the seniors for buying life insurance policies at this stage.

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Flexible Life Insurance for Seniors Over 85

Two great options for life insurance for seniors over 85 is whole life and universal life insurance plans. Your age does not affect your eligibility for being approved for any of these plans. Whole life insurance is a great option because it takes your money and puts it into a high-interest savings account that can be used to cover expenses. This option offers great life insurance for people over 85 because you only pay the payments while you are living.

Whole life insurance gives you a guaranteed amount of money every year that it is continually growing.  This means that you do not have to guess or wonder as the interest rate will grow your money. The money also relies on compounded growth which is why this option is great as a life insurance over 85.

Read Also: Graded Benefit Whole Life Insurance

Mutual funds, money market accounts, and stocks cannot give you any type of guarantee. These types of investments are too risky for someone who is older who has to depend on their money growing each and every year.

No Tax Penalties!

Another reason why whole life insurance is a great life Insurance for people over 85 is that you can access your money at any time without any penalties, including no tax penalties.

This is a unique feature that can benefit anyone when life’s unexpected events happen. This type of option adds flexibility allowing you to borrow it out of your policy.

The second popular option for life Insurance over 85 is universal life insurance. To start off, universal life insurance is lower than whole life insurance.

This can offer more savings for life insurance for over 85 which can be a deciding factor for seniors on a tighter budget.

You may also have a look at guaranteed acceptance life insurance for seniors with no waiting period, click here.

Unlike a fluctuating interest rate that comes with other life insurance plans, universal life insurance comes with a minimum interest rate.

Universal life insurance is also very flexible. If your insurance needs ever waver, then you can change your policy to regulate those deviations.

You can take a loan anytime…

Another great feature of universal life as an option for people over 85 is that you have options to take out loans on insurance with some great terms.

This can range from using the money to pay off debts to taking a vacation. If you ever find yourself in a bad financial situation, you can also use universal life insurance as a way to supplement your monthly income.

How to Avail Hassle-FREE Life Insurance Policy at 85 Years of Age?

The word “hassle-free” doesn’t comply very much when it comes to life insurance policy at this stage of life (85 years). However, we can suggest a few measures that will help you in finding easier ways to buy life insurance:

Get No Medical Exam – No Waiting Period Life Insurance Policy

This one is the easiest and the quickest way to attain life insurance policy. You can buy such policy at any stage of your life irrespective of your age or health background. Although such policies are quite expensive, there are many benefits that make them a great business churner for life insurance companies.

First of all- those who are worried about their policy clearance because of medical issues or age factors can easily buy no medical exam no waiting period policy.

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Second – you get them very quickly. As the application is processed hand in hand there is no long period to wait. People at the age of 85 years are mostly not in a very good state of health. No medical exam- no waiting period policy can be a good option to consider.

Health Records and Credit Scores

There are some seniors who maintain a considerably healthy lifestyle and body even at this age. For them, it is possible to attain a life insurance policy with comparative ease.

At the time of application do not forget to present the reports of your good health along with your credit rating history.

Both of these factors will play a significant role in helping you in attaining life insurance policy. A good credit rating score is a reflection of your duty bound citizenship and your appreciative health cards reflect the increased chances of survival.

If you own some latest fitness certifications such as marathon winning or any other sports in your age group- these can work as add-ons in your favor.

Compare and shop

When you have decided to invest in a life insurance policy, be more watchful of the options that are available in the market. At times people make buying decisions out of initial 2-3 offers that are first available to them.

However, the advertising campaigns can overlap the actual good offers from the highlighted ones.

You need to make a comparative analysis of most of the options available in the market and then take a decision on buying.

A few websites offer comparison tools or free software that can help you in simplifying the search. Even the local vendors can also provide help in sorting out the best policy for you in the given budget and specifications.


Life insurance policy for elderly at the age of 85 has opened the ways of self-dependence and financial well being for elderly parents. They no longer look around for “free medical services” or “money lenders” to fulfill their needs at this stage of life. A little bit of planning can make life simpler and tension free.

There are options for life Insurance for seniors over 85. Whether you choose whole life insurance or universal life insurance you can be assured that either option will accommodate your needs and give you peace of mind that your affairs will be taken care of when you pass.

To find the best rates you need to apply for free quotes. You can see a box on our site, put on your zip and search for a suitable policy.