Can You Get Life Insurance at 62 (Final Expense)

Yes, you can get term life insurance and whole life insurance at age 62 however depending on your needs and health history selecting the right life insurance coverage with the right life insurance companies is crucial to protecting your family. Now at this specific age well will get right to the point and tell you that you need permanent life insurance at age 62. This is because if you get term life insurance it will eventually expire and you may be too old to get affordable permanent life insurance for your family to cover burial costs.

This is why we will explain the best options and actions to take when it comes to permanent life insurance instead of term life insurance. Term life insurance is good for protecting assets on a loan you are working to pay off but beyond that it is not suitable for permanent life insurance because it is not permanent.

We will recommend different life insurance companies to help you make your selection. In addition to this you can apply to a life insurance company by working directly with our agents.

Related: Life Insurance for 61 year old, Life Insurance age 60

Can I get Life Insurance at 62 years Old?

Yes, you can get whole life insurance and term life insurance at 62 years old. Term life insurance requires a medical exam, guaranteed universal life insurance and indexed universal life insurance also require a medical exam. Final expense insurance does not require a medical exam they are simplified issue life insurance policies.

Health Plays a Role

What Type of Life Insurance Should I Get at Age 62?

Whole life insurance policies are what a 62 year old should get to protect their family from final expenses or left behind medical bills and debts. We typically refer to this as funeral insurance because the biggest expenses left behind are the final expenses for a funeral and related expenses. This is the best life insurance for seniors that want to make sure their final expenses are paid by the death benefits of their life insurance coverage.

As we mentioned when it comes to final expense, there is no medical exam required to apply with the life insurance company. They simply look at your medical conditions and prescription history to determine if you are eligible. This makes buying life insurance fast when you need it in place to take care of funeral costs.

Term Life Insurance Not a Good fit in Most Cases

Now term life insurance offers higher death benefit amounts of $100,000 – $1,000,000 however as we mentioned it is temporary life insurance which means after 20 – 30 years the coverage expires. In addition to this you never get anything back for the premiums you paid in. The life insurance companies are betting you are going to live and you are betting you are going to die within that given period.

Term Life Insurance is good for:

  • Protecting Mortgage Payments(mortgage protection)
  • Family Income or Financial Protection in your early years

Now if you take a medical exam for term life insurance at the age 62 there more than likely could be medications and conditions that disqualify you from coverage after you take their medical exam which is why fully underwritten life insurance policies are not a good idea for seniors. We all develop health conditions as we get older and if you are sick you will either be denied or receive a big increase on the monthly life insurance premium you thought you were getting.

That is why simplified issue senior life insurance is a much better option.

Cheap Life Insurance for 62-Year-Old Male(Final Expense Insurance Quotes)

Below you will see sample life insurance quotes for a 62 year old male and our recommended life insurance companies you can shop with. In most cases the cheapest life insurance policy you can get for senior life insurance is with Mutual of Omaha however depending on your health history our agents would make different recommendations to make sure you get approved with the right insurance company.

The life insurance options all provide cash value that grows in your policy which is an additional savings you can borrow from in tough financial situations.

Sample Quotes

You will see several life insurance quotes below for $10,000 in death benefit.

The Lower The Premium the More Strict the Under Writing

An important thing to know is what makes monthly premiums competitive between carriers is how strict their underwriting can be so if you apply for a lower premium. Mutual of Omaha for example will look very closely at your medical history and prescriptions which means it could be harder to be approved.

Now with American Amicable, they will overlook certain medications that MOO doesn’t. That means you may be paying more but your approval is worth it in those cases.

Whole Life Insurance for 62 Year-Old Female (Burial Insurance Sample Rates)

Below you will see life insurance rates for a 62 year old female for $10,000 in death benefit. These come directly from our quoting software to provide you with the best idea of your life insurance options. The options all build cash value in addition to the death benefit.

If you want to see life insurance rates based on your individual birthdate use our quoting tool on this page. Life insurance rates are more accurate when you use your specific birthdate. At your current age, you can get affordable life insurance with those companies especially when you are in good health.

Cost of Life Insurance at age 62(Burial Insurance)

The cost of senior life insurance for a male at age 62 is going to be between $49 – $186 for between $10,000 – $40,000 in death benefit. For a female would be $36 – $134 for $10,000 – $40,000 in death benefit (non-smoker rates).

Keep in mind those rates are for seniors in good health if you are in poor health the senior life insurance rate will be different.

Should I get Life Insurance at Age 62?

Yes you should get life insurance at age 62 because everyone has life insurance needs if you have not established investments or trusts for your family to use when you die. A funeral costs between $7,000 – $10,000 according to policygenius this means your family will be responsible for the money if you do not have permanent life insurance.

That is why everyone including young adults should have a senior life insurance policy instead of or addition to a traditional life insurance policy. This means you will have permanent insurance that will always be there even in your old age. Life insurance for seniors is crucial to spare your family the burden of paying end-of-life expenses.

How Much Life Insurance Do I Need at Age 62?

You need between $10,000 – $20,000 of permanent coverage at age 62 that is how much life insurance you need. We recommend 15,000 in life insurance to make sure funeral expenses are fully covered. That is adjusted for inflation because funeral expenses go up as time goes on. You should also factor in other final expenses in addition to that.

What is the Best Life Insurance to Get at age 62?

The best life insurance to get at age 62 is final expense life insurance for seniors that builds cash value and offers between $10,000 – $40,000 in death benefit. This type of permanent policy never expires.

Whole Life Insurance Facts for Funeral Coverage

  • Only a few health questions on the application simplified underwriting
  • Many insurance companies are accepting of moderate health issues
  • No exam they only look at medical history according to their health questions
  • Death benefit will never decrease
  • Monthly premium will never increase

Best Life Insurance Companies for Seniors age 62 for Burial Coverage

Below we have listed the best life insurance companies when it comes to getting a life insurance policy with cash value and end of life expenses. These companies have excellent ratings for senior life insurance and will provide the best life insurance policy. Remember to communicate to your agent if you are in good health or not so they can recommend the right life insurance policy.

Recommend Companies to Buy Life Insurance With

How to Apply with an Agent

To apply for coverage fill out our quote tool on the right and look for our agent’s call. They will field underwrite, recommend, and help you complete your application to apply for coverage. This process takes less than 30 minutes to complete.


If you are 62 years old you need a good life insurance policy that is permanent. Life insurance for seniors is designed for end-of-life costs to protect your family from financial stress. That is why having something that will last forever to provide them with that full death benefit so they can pay the funeral in a timely manner is important.

Do not leave them without peace of mind and a burden knowing that without a full death benefit they will not be able to pay the expenses.