For a 10-year term life insurance policy, a 70 year old woman, can expect to pay around $70 per month. For a man, the same policy will cost around $120 per month. Get a life insurance quote!.
Are you a man or woman age 70 or older, and wondering if you can still get life insurance coverage, and at affordable rates?
Depending on your health and medical history, seniors may still be able to get fairly good premium prices on a term life or whole life insurance policy.
Some advisers will tell you that, if you are 70 years old or older, your best bet is to try getting a 10 year term policy, or even a 15 year term.
It's obvious that obtaining a 20 or 30 year term policy at your age might not be possible, or it will be cost prohibitive.
Don't forget, there's always the option of going with a no-medical exam policy, also known as final expenses insurance. These policies have a smaller death benefit, but are often enough for most seniors over 70.
The best thing to do is to complete an online form so you can get in touch with a life insurance specialist that will guide you through the process of getting the best and cheapest policy for your specific case.
CLICK HERE for a life insurance quote in your 70's!
You may be wondering how much a typical life insurance policy costs for seniors in their seventies - here are some examples of average level term life insurance premiums for seniors from 70 to 75. Some options are still fairly cheap and affordable.
If you are looking for life insurance coverage for your mother or father, take a look at the prices below.
Shown: Monthly premiums for a 10 year term policy for a non smoker senior female in fair health.
| AGE | $25,000 | $50,000 | $100,000 | $200,000 | $300,000 | $500,000 |
| 70 year old female | $57.53 | $60.30 | $68.25 | $107.34 | $128.58 | $247.15 |
| 71 year old female | $65.63 | $64.75 | $75.54 | $118.68 | $151.98 | $274.58 |
| 72 year old female | $73.32 | $68.72 | $85.75 | $132.64 | $176.20 | $306.72 |
| 73 year old female | $81.35 | $75.55 | $95.87 | $152.21 | $197.62 | $352.85 |
| 74 year old woman | $89.62 | $84.12 | $108.25 | $170.75 | $ 224.56 | $399.15 |
| 75 year old woman | $97.28 | $92.65 | $116.23 | $193.67 | $256.78 | $454.55 |
Example prices as off 10/27/2024 - your average rates will most likely be different. The underwriting insurance company will decide your exact costs.
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Premium pricing for a 10-year term policy, for a senior man, non-tobacco user, in good health:
| Age | $100,000 | $200,000 | $300,000 | $500,000 |
| 70 year old male | $116.40 | $230.15 | $246.35 | $405.33 |
| 71 year old male | $136.76 | $262.75 | $278.43 | $462.25 |
| 72 year old man | $152.55 | $295.55 | $317.30 | $525.38 |
| 73 year old male | $172.10 | $337.45 | $363.76 | $604.75 |
| 74 year old man | $194.18 | $384.45 | $422.72 | $702.55 |
| 75 year old male | $220.33 | $434.20 | $495.10 | $821.90 |
Average rates as off 10/27/2024 for a male from 70 to 75 - your average monthly premiums will most likely be different.
We don't show rates for those seniors, 76, 77, 78, and 79 years old. The life insurance specialist will be able to quote you these rates.
Compare Life Insurance Rates If You Are In Your Seventies!
The best way to get the cheapest rates on life insurance is to compare premium prices from a few companies. Even if the rates won't vary a lot, some companies are more friendly towards some health issues and lifestyle options.
For example, if you are an occasional cigar smoker, some companies have low cost policies for that. Another example, some insurers are more prone than others to insure people with diabetes and sleep apnea.
As a senior in your 70s, you may still be leading a healthy and active life. If you are not overweight, don't have any major health problems, don't smoke, don't drink excessively, your chances of getting approved for life insurance coverage and getting cheap rates go up a lot.
Ages quoted: 70, 71, 72, 73, 74, 75, 76, 77, 78, 79
Remember, life insurance is not for you, it's for your loved ones. When you reach your seventies, unfortunately, the prospects of you dying start to materialize and you start thinking about your own mortality. This is the time to think about your immediate family and if they will be unnecessarily financially burdened if you die.
You may still owe a mortgage or have personal loans. You also have to think about the costs of a funeral and burial. These could be around $20,000.
Don't be one of those parents that leaves their children with your bills for them to pay.
CLICK HERE for a Life Insurance Quote!
Can You Get Life Insurance After Age 70?
You've probably heard that you cannot get life insurance in your seventies - this is not true. It will be more difficult and won't be cheap, but you still can get it your health and lifestyle is within the life insurance parameters.
Can I Get Affordable Life Insurance At Age 75?
Yes, it's still possible. But, it will depend a lot on your health and lifestyle - do you smoke, drink, partake in dangerous activities, are overweight, etc.
What If My Life Insurance Policy Is Denied?
You could always apply for a guaranteed acceptance life insurance policy. This type of policy will cost more and will not offer a high death benefit, but pretty much anyone can get it.
Which Life Insurance Is Best For Seniors?
If you can get a term life insurance policy, you will pay less and will have a higher coverage amount. Getting a whole life insurance policy may not be possible, other than a small-benefit no-medical policy.