Leaving a Legacy for Family through Life Insurance at 85

For seniors who have reached the age of 85, their thoughts often turn towards the financial state of their families. Usually, seniors will help take care of their children and grandchildren by providing them with a legacy.

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A legacy consists of enough money to pay for part or all college tuition or make a down payment on a home.

However, many seniors live on fixed incomes or simply do not have the money on-hand to create a legacy for their loved ones. This is where life insurance over 85 comes into play as it can help to create a legacy for those you leave behind. Your children or grandchildren will benefit from the legacy in helping them pay for a variety of expenses.

What is a Life Insurance Legacy?

This is Possible to Leave Behind a Legacy through Life InsuranceLife insurance is designed to cover the cost of funeral expenses and any debts that are left behind, so the family does not struggle financially because of the loss of a policyholder. However, the amount of life insurance benefits can be such to leave behind a legacy that helps pay for college tuition, a new home, or other expense that cannot be saved for through traditional means.

For example, a life insurance policy of $100,000 in benefits will not only cover funeral expenses and any small debts, but it also may pay off the remaining mortgage on a home, other debts, and proper estate planning. Whatever is left over can be used as a legacy that helps future generations in your family pay for what they need.


There are some limitations that you will need to consider before investing in a life insurance policy designed to leave behind a legacy. This is particularly true for seniors who have reached the age of 85.

Expense: Life insurance policies become quite expensive once you have reached 85. You can expect to pay $100 per month or more depending on the insurance company you choose and the amount of benefits in the policy itself.

Health: If you are not in good health, it becomes harder to purchase a life insurance policy. Seniors who have experienced serious health issues may not qualify under normal circumstances which means having to pay for a guaranteed acceptance policy. Such policies are not only expensive; they have restrictions which relate to the amount and delivery of the benefits.

How to Find an Affordable Policy?

If you are looking at life insurance for an 85-year-old senior, then you will need to do a little research to find the right company that provides the best policy. Term life insurance is generally the best because it is the least expensive while providing the same benefit coverage. It’s never too late to provide for your loved ones, even if you are on a fixed income. Life insurance offers the path for you to leave behind a fitting legacy.

You can even take advantage of no exam life insurance which doesn’t require the policyholder to sit for any medical exam at all.

If you are in good health, then a standard life insurance policy can be issued which provides coverage for your funeral and debt expenses while leaving behind a legacy for your children or grandchildren to enjoy.