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If you’re in your senior year and wonder if you should buy life insurance, you may also think you’re too old to buy it.

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While certain companies won’t issue life insurance to anyone over 50 years old, there are plenty that do issue it to seniors as old as 80 or sometimes 85 years old.

So what is the oldest you can be to buy life insurance?

It depends.

What Type of Life Insurance do you Want?

The type of life insurance plays a role in how old you can be to buy it. For example, term life insurance has the youngest maximum age. Some companies max you out at 50 – 60-years old, while others may go as high as 75 years old.

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There’s a catch, though.

You can only take out a maximum 10-year term. After 10 years, the policy expires if you are still alive and you don’t have coverage.

Other life insurance policies, like final expense insurance, have more lenient age guidelines and are even made for seniors.

You can’t buy final expense insurance until you are at least 50 years old. Many insurance companies offer the policy up to age 85. No matter what age you purchase it, the policy lasts your lifetime, so unlike term life insurance, you don’t have to worry about it ending.

There’s a problem, though.

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Final expense insurance is only for final expenses and has an average death benefit of $10,000 – $20,000. You won’t find many companies that will issue more than $35,000 in a death benefit, except for the rare company that allows $50,000 in coverage.

Why do you Want Life Insurance?

When determining the oldest you can be to buy life insurance, think about why you want it.

Are you trying to leave behind a legacy for your loved ones or just cover your final expenses?

If you want to make sure your loved ones can cover your funeral and other final expenses, a final expense policy should suffice. You’ll have enough coverage to pay your end-of-life expenses, and the death benefits last for your lifetime.

If you’re trying to cover a temporary expense, such as a mortgage, you have remaining or other debt you won’t have paid off in the next 10 years, a term life insurance policy may be suitable.

Consider why you want the life insurance and what it will cost as you decide if buying it as an older senior is worth it.

Should you Buy Life Insurance as a Senior?

It’s a common question people ask. Is it even right to buy life insurance as a senior?

It’s not always the right answer, but here’s how to tell.

Ask yourself if you have enough money to cover your final expenses or if you’ll leave your loved ones without enough funds. Buying a policy now can help your loved ones and give you peace of mind if that’s the case.

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If you’re just looking for a policy to leave a legacy behind for your loved ones, it may not be the best time to invest in it. You’ll spend a large amount of the money you have now to have the policy, and in most cases, there will be a 2-year waiting period for a permanent life insurance policy or a maximum 10-year term on a term policy.

It also depends on whether you can afford the policy and pass a medical exam. If you can’t pass a medical exam, you’ll be forced to pay higher premiums that might not be affordable or make sense for the coverage you’d get.

Final Thoughts

Look at the big picture when buying life insurance as a senior. You can be as old as 90 years old in some cases, but not with every company. Evaluate the cost, what you’ll get, and why your loved ones need the policy before investing in life insurance for seniors, especially if you’re over 70.


Meet Aaron H., a senior life insurance agent from California with 15+ years of experience. With a major in finance, excellent analytical and communication skills, and a passion for helping clients find personalized solutions, Aaron is a trusted advisor in the industry. He stays up-to-date on the latest trends and developments by attending webinars and workshops, reading industry blogs, and writing informative blog posts on this website. Aaron also has a keen understanding of SEO and online marketing, which he uses to help his clients reach a wider audience and get the coverage they need. He cherishes spending quality time with his wife, two children, and elder parents.