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Term Life Insurance For 65 Year Olds

Many people age 65 and older think obtaining life insurance coverage is not possible or is too expensive. That is not the case. Depending on your health status and lifestyle, you can still get affordable rates on term life insurance.

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Over 65 man and womanIf you are over sixty five years of age, probably your best choice is to go with a 10 year term or 15 year level term insurance policy.

As you can understand, obtaining a 30 year term policy at your age might not be possible, or you won't be able to afford it.


Typical Life Insurance Policy Amounts For Age 65 and Over:

Examples of Life Insurance Costs For Those Over Sixty Five

You may be wondering how much does a typical policy cost for a senior - here are some examples of average level term life insurance premiums for those over sixty five years of age. Some of the options are still somewhat cheap.

Shown: Monthly insurance premiums for a 10 year term policy for a non smoker woman in good health at different ages 65+.

AGE $25,000 $50,000 $100,000 $200,000 $300,000 $500,000 $1,000,000
65 year old woman $36.82 $41.72 $38.35 $66.92 $81.06 $148.80 $287.23
66 year old woman $39.95 $43.46 $43.57 $73.55 $87.59 $162.46 $315.23
67 year old woman $45.05 $46.43 $47.87 $81.00 $93.42 $177.62 $345.71
68 year old woman $49.20 $50.03 $53.42 $87.53 $100.37 $194.67 $378.85
69 yeas old woman $53.46 $55.33 $58.20 $96.58 $111.47 $221.56 $428.73
70 year old woman $57.53 $60.20 $68.01 $107.62 $128.68 $247.00 $480.52
71 year old woman $65.43 $64.85 $75.54 $118.68 $151.48 $274.08 $532.47
72 year old woman $73.32 $68.72 $85.55 $132.64 $175.00 $306.90 $597.25
73 year old woman $81.25 $75.74 $95.77 $151.79 $197.62 $352.77 $688.00
74 year old woman $89.22 $84.10 $108.05 $170.55 $ 224.46 $398.25 $778.94
75 year old woman $97.05 $92.65 $116.23 $193.67 $256.47 $454.58 $888.55

Example rates as off 11/12/2020 - your rates will most likely vary. This is just a rough guide. The underwriting company will decide your exact rates.

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If you shop around, most likely, you'll still be able to find an affordable life insurance policy that will cover all your needs.

Remember, by comparing many policies, you'll be able to find the cheapest rates.

As a 65 year old senior, you may still be working full time and leading a healthy life full of possibilities. If you are in good health, you should still expect many productive years ahead of you, working and saving money for your loved ones, since people are living much longer lives these days.

Life insurance can safeguard your loved ones from money issues in the event of your death. When you reach age sixty five and over, unfortunately, you start thinking about your own mortality and the real possibility you may not be around much longer. This is the time to think about your immediate family and their financial well being.

My customers often ask me questions like: "Can you buy life insurance after 65 years of age?"; "How much is whole life insurance for a 65 year old?" ;"Can I get life insurance over 65"; "Isn't sixty five and over too old to get life insurance?" - I tell them, NO, people nowadays can get a policy into their eighties. It all depends on your health and if you live a risky lifestyle - you smoke, drink too much, you are obese, have health issues, etc.



Are you over 65 years of age or older?
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