Best Term Life Insurance Companies For Seniors (2023 Update)

If you simply want free quotes from the top companies with no medical exam, fill out our quote form on the right.
Many seniors think they can’t get good life insurance prices once they reach a certain age.
This doesn’t have to be the case. There are many companies out there that offer very low prices for term life insurance to seniors, all with no medical exam.
In this article, we will go over the age range for when seniors can get term life insurance, the best term products out there, how much coverage you can get, and sample prices.
Table Of Contents
What’s Better For Seniors – Term Or Whole?
First of all, this is a question many people ask when it comes to life insurance, but we will focus on seniors.
Term Life
Term life insurance is much cheaper and you can get a lot more in coverage, but it will expire at the end of the term. Most term policies have the option to convert the policy to a whole life policy that lasts for life at the end of the policy, but this will be very little coverage for the same monthly payment.
Whole life
Whole life, for seniors, is known as final expense or burial insurance. These last for life and are much more expensive but will be a guaranteed payout to your beneficiaries. This is recommended for covering the final expenses since that day will come for everyone.
Which Is Better?
We recommend getting a final expense whole life policy to cover only the final expenses, and term life insurance if you want additional coverage for a larger amount such as covering a mortgage, any other debts, or if you just want the payout to be larger than what a final expense whole life policy will allow. If you are one of these people, keep reading for the best term life insurance for seniors.
Age Qualification
Your current age will affect your term life insurance a great deal. You can get term life insurance with some companies all the way up to age 80, but how long the term lasts will depend on your age.
For example, someone 65 may qualify for only up to a 20 year term. Someone 55 qualifies for up to 30 year term.
The pricing also greatly depends on how long the term is. Longer term periods will make your premium much higher. If you want to know exact pricing depending on your age, fill out our quote form to get instant free rates.
Top Companies & Term Life Insurance Rates For Seniors
The below companies all have many things in common.
- None of these require a medical exam
- Rates won’t increase – They are locked in for the whole term
- Instant approval
Which one is the lowest price will depend on your age and health conditions. For example, smoking cigarettes will change your rate.
American Amicable

American Amicable has some of the best no medical exam term rates available in the industry. There is a reason most seniors end up with American Amicable. Below are some sample rates for different term amounts. 75 is the max-age for term life insurance with American Amicable. You can also compare all companies by filling out our quote form.
Male Rates
Age | $50,000 10 year | $50,000 20 year | $100,000 10 year | $100,000 20 year |
---|---|---|---|---|
40 | $14 | $18 | $23 | $29 |
50 | $23 | $33 | $41 | $60 |
60 | $43 | $70 | $81 | $135 |
70 | $100 | N/A | $194 | N/A |
80 | N/A | N/A | N/A | N/A |
Female Rates
Age | $50,000 10 year | $50,000 20 year | $100,000 10 year | $100,000 20 year |
---|---|---|---|---|
40 | $13 | $16 | $21 | $26 |
50 | $18 | $24 | $31 | $42 |
60 | $28 | $44 | $51 | $83 |
70 | $54 | N/A | $102 | N/A |
80 | N/A | N/A | N/A | N/A |
Mutual Of Omaha

Mutual of Omaha is one of the most well known insurance companies out there. They also are a great company for term life insurance with no medical exam for seniors. 70 is the max age you can get term life insurance with Mutual of Omaha. Below are some sample rates for Mutual of Omaha, and you can compare among all the companies by filling out our quote form.
Male Rates
Age | $50,000 10 year | $50,000 20 year | $100,000 10 year | $100,000 20 year |
---|---|---|---|---|
40 | $16 | $21 | $28 | $38 |
50 | $31 | $42 | $58 | $79 |
60 | $65 | $108 | $124 | $211 |
70 | $177 | N/A | $349 | N/A |
80 | N/A | N/A | N/A | N/A |
Female Rates
Age | $50,000 10 year | $50,000 20 year | $100,000 10 year | $100,000 20 year |
---|---|---|---|---|
40 | $13 | $20 | $22 | $36 |
50 | $24 | $40 | $43 | $74 |
60 | $46 | $102 | $88 | $199 |
70 | $147 | N/A | $290 | N/A |
80 | N/A | N/A | N/A | N/A |
Foresters Financial

They also offer good rates for no medical exam term life insurance. One key with Foresters is that they insure up to age 80 for term life insurance.
Below are some sample rates and you can compare all the companies by filling out our quote form.
Male Rates
Age | $50,000 10 year | $50,000 20 year | $100,000 10 year | $100,000 20 year |
---|---|---|---|---|
40 | $18 | $19 | $31 | $34 |
50 | $32 | $42 | $59 | $79 |
60 | $69 | $101 | $133 | $198 |
70 | $177 | N/A | $349 | N/A |
80 | $460 | N/A | $916 | N/A |
Female Rates
Age | $50,000 10 year | $50,000 20 year | $100,000 10 year | $100,000 20 year |
---|---|---|---|---|
40 | $16 | $19 | $27 | $32 |
50 | $26 | $35 | $48 | $64 |
60 | $52 | $89 | $100 | $174 |
70 | $141 | N/A | $277 | N/A |
80 | $398 | N/A | $791 | N/A |
Summary
Click here to read about term life insurance for seniors over 70.
If you are a senior and want term life insurance you can absolutely get it. The best way to save the most money is to shop with an independent broker like Seniors Mutual.
Our services will always be FREE. You pay the same no matter who you go to.
Best of all, we are experts in finding the best insurance for seniors. This means you can count on getting an instant approval with the lowest priced company that will accept you, no extra hassle involved.
If you want more information, have additional questions, or are ready to get approved for term life insurance or another type of insurance for seniors, give us a call or fill out our quote form and we will be in touch with you ASAP.
FAQs
6 Comments
nathan newman
looking for a quote for 67 yo male for $100,000 for 10 yrs – term life ins.
Nate
Kelly Maxwell
Hi Nathan, thanks for reaching out. We sent you an email with more info.
Heidemarie Fox
I'm considering getting a term life insurance policy in an amount that equals my mortgage and credit card debt I am a divorced female, 70 years young. I have no living family, I am the last surviving member.
If I pass away with no life insurance, there is no living family member that could be responsible to pay my debts. If I obtain a term life policy making a friend the beneficiary and they decide not to pay my debts would they be liable to pay my mortgage and debts just because I made them my beneficiary.
Kelly Maxwell
Hi Heidemarie, no one will be responsible for your debts just because you select them as a beneficiary. We sent you an email with more quotes and info.
gralion torile
Good info. Lucky me I reach on your website by accident, I bookmarked it.
Kelly Maxwell
Thank you Gralion.