How old is too old to purchase life insurance as a senior? Can seniors over 70 get life insurance?

There is no specific age at which a senior is considered "too old" to purchase life insurance. However, as people age, they may become less likely to qualify for certain types of policies, and the premiums for their coverage may be higher.

Many insurance companies will sell term life insurance policies to seniors over the age of 70, but they may be subject to some age-based restrictions. For example, some insurers may only issue term policies with a maximum coverage period of 10 or 20 years to seniors, while others may only offer coverage at a higher premium.

Permanent life insurance policies, such as whole life or universal life, can still be purchased by senior citizens over 70. These policies have a cash value component and typically have more expensive premiums.

It's a good idea for seniors over 70 to check with different insurance companies as policies and coverage vary for each individual and each insurance company. An insurance broker may also be helpful in finding a policy that suits you best.

Last updated: January 11, 2023