Can You Get Life Insurance After Age 70?

Yes, life insurance after 70 may still be available. Your choices can be narrower and more expensive than they were at a younger age, but age alone doesn’t always close the door. The right place to start is the reason you want coverage and the amount you can comfortably afford.

A person who wants help preparing for funeral costs has a different need from someone trying to replace income or leave a larger inheritance. Defining the purpose makes policy comparisons easier and helps prevent paying for coverage that doesn’t fit.

You also don’t have to sort it out from a pile of quotes. ORCA Life can help you work through the questions in the right order, starting with your goal and ending with a careful review of the policy terms.

Start with the reason you want coverage

Write down what you want the death benefit to address. Common goals include funeral and burial costs, medical bills, small debts, income for a surviving spouse, or money for family members.

Then review what is already available. Existing policies, savings, prepaid arrangements, survivor income, and family resources can change the amount of new coverage you need. Don’t cancel an existing policy until new coverage is issued, active, and fully understood.

Review the types of coverage that may be available

Final expense and other whole life policies are common options for older applicants. They generally provide lifelong coverage as long as required premiums are paid, subject to the policy’s terms. Benefit amounts are commonly smaller than policies purchased for income replacement.

Some carriers offer term life at older ages, but available terms and benefit amounts can be limited. Guaranteed-issue coverage accepts applicants within stated eligibility rules without health questions, but it can cost more for the benefit and can include a graded benefit period.

Understand simplified issue policies

Simplified-issue life insurance usually doesn’t require a medical exam. The application can still ask about diagnoses, treatments, medications, recent hospital stays, or other health information. The carrier uses those answers and other permitted information to decide eligibility and pricing.

Answer every question completely and honestly. A no-exam application isn’t the same as automatic approval. Product rules, available benefit amounts, and issue ages vary by carrier and state.

Know what affects pricing after 70

Age is one pricing factor. Health history, tobacco use, benefit amount, policy type, premium structure, and carrier guidelines can also affect the cost.

Compare more than the first monthly premium. Ask whether premiums are guaranteed, how long payments continue, whether the policy builds cash value, and what happens if you stop paying. A smaller benefit with a manageable premium can be more useful than a larger policy that strains the budget.

Read waiting periods and policy terms carefully

Some policies provide the full death benefit from the effective date, subject to policy terms. Others limit the benefit for non-accidental death during an initial waiting or graded-benefit period. The policy might return premiums plus interest or pay a percentage of the benefit during that time.

Prepare for the application

Use the NAIC’s life insurance consumer information to review basic questions and locate your state insurance department. A licensed insurance agent can then explain products available in your state and help you compare their terms.

Frequently Asked Questions

What type of life insurance can someone over 70 get?

Options can include final expense, whole life, term life, and guaranteed-issue coverage, depending on age, health, state, carrier, and the amount requested. Not every option is available to every applicant.

Can I get life insurance after 70 without a medical exam?

Possibly. Some simplified-issue and guaranteed-issue policies don’t require a medical exam, although simplified-issue applications can still include health questions and eligibility rules.

Is life insurance more expensive after age 70?

It usually costs more to buy new coverage at an older age because age affects the insurer’s risk calculation. Health, tobacco use, policy type, benefit amount, and carrier also affect pricing.

What is a waiting period in life insurance?

A waiting period limits the full death benefit for certain causes of death during an initial period. Terms vary, so review what the policy pays during that period and when full coverage begins.

How do I compare life insurance policies after 70?

Compare the death benefit, premium, premium guarantees, underwriting, waiting period, exclusions, cash value where applicable, and how long coverage lasts. Confirm that the policy fits your goal and budget.

Ask ORCA Life about available options

Life insurance after 70 isn’t one-size-fits-all. ORCA Life can help you identify your goal, review products available to you, and compare costs and policy terms without rushing the decision. Contact ORCA Life to ask about your options.

Products, benefits, costs, eligibility, exclusions, limitations, and availability vary by policy, carrier, state, and individual circumstances.

Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance carrier.