Seniors have more new life insurance coverage options available today than at any previous time. Whether the goal is covering final expenses, leaving a legacy, or providing income replacement, there are products specifically designed for applicants in their 60s, 70s, and even 80s.
The challenge is knowing which type of new coverage to explore and how to compare options across carriers effectively.
New Coverage Options Commonly Available to Seniors
- ✓Final expense insurance (ages 45 to 85): Smaller whole life policies covering end-of-life costs
- ✓Burial insurance: Targeted coverage for funeral and burial expenses
- ✓Guaranteed issue whole life: No health questions, available to nearly all applicants
- ✓Simplified issue term or whole life: Health questions but no medical exam
- ✓Indexed universal life: For seniors in good health seeking permanent coverage with growth potential
What to Look For When Comparing Senior Coverage
When exploring new coverage options as a senior, several factors deserve close attention during the comparison process.
- ✓Underwriting type: Guaranteed issue vs. simplified vs. fully underwritten
- ✓Graded death benefit periods: Some policies limit the full benefit for the first 2 years
- ✓Premium stability: Fixed vs. increasing premiums
- ✓Coverage amount range: Does the carrier offer the amount you need?
- ✓Carrier financial strength ratings
- ✓State availability
Connect with a licensed independent agent to compare new coverage options available to seniors in your state.
Or call directly: (866) 837-0682
Plans vary based on age, health, and location. Independent service · New coverage only.
Guaranteed Issue: No Exam, No Questions
Guaranteed issue whole life insurance is available to applicants within a certain age range (often 50 to 80) without any health questions or medical exam. Coverage amounts are typically limited to $10,000 $35,000.
These policies often include a graded death benefit, meaning the full benefit may only be available after the first two years of the policy. A licensed agent can review the specific terms of new guaranteed issue options currently available.
Final Expense: The Most Common Senior Coverage
Final expense insurance remains one of the most widely explored new coverage options among seniors. It provides a modest death benefit designed to cover funeral costs, medical bills, and other end-of-life expenses.
Many final expense policies feature simplified underwriting and are available to applicants up to age 85 in many states.
Working With a Licensed Independent Agent
A licensed independent agent works across multiple carriers rather than being limited to a single company's products. This means they can compare new coverage options from multiple insurers side-by-side, showing you differences in coverage amounts, premiums, underwriting requirements, and policy terms.
Connecting with a licensed agent to explore new senior life insurance coverage is free and carries no obligation.