Life Insurance for 82 Year Old (The Truth)

Looking for life insurance for an 82 year old? You are in the perfect place we specialize in life insurance for seniors specifically for seniors looking to make sure their final expenses are covered so their family is not stuck with a big funeral bill when they pass away.

This type of life insurance is often referred to as burial insurance or final expense insurance and in this article we will cover everything you need to know about this type of permanent life insurance and why it is the best life insurance for 82 year old option out there.

We have also covered in full detail life insurance for seniors over 80.

Can I Get Life Insurance at Age 82?

Yes, you can get life insurance at age 82 it would be a simplified issue whole life policy. Final expense insurance does not require medical exams or blood tests to be approved for these types of policies. Another great fact is that no one can be denied regardless of health. So if you are in good health or poor health there is a final expense product for you no matter what.

If your health is extremely poor and you cannot pass the underwriting for the simplified plans you can still get a guaranteed issue life insurance policy. Now a guaranteed acceptance plan does have a waiting period of 2 years but after 2 years the death benefit is paid when you die.

So regardless of your health, you can get life insurance at age 82. This also counts for age 80 or even age 85 we can help clients all the way up to age 90 get covered. This is why working with a brokerage like us and our insurance agents is crucial when shopping for life insurance.

Avoid life insurance companies like Colonial, Open Care, New York Life, Lincoln Heritage, ASB or Globe.

Term or Whole Life?

Here’s the deal, term life insurance at your age is the worst option because if you have had any health conditions within the last 5 – 10 years you will not pass their paramedics exams period. Term life and other whole life like Universal Life Insurance all require medical exams.

Term Medical Exam & Hard to Qualify

They are not a simplified issue which means if you were to try and apply for those products they will conduct blood tests and physical examinations in addition to this they will also look at your medical records for any history of terminal illness or moderate illness. If they find anything moderate or medications that point to bad health you will be denied.

Also, you cannot get a term for over 20 years at age 82 the most you could get if you actually passed their exam would be 10 years worth of coverage then it expires so if you outlive the policy your family is exposed to the risk. They are also 3 – 4 times more expensive than a final expense policy.

Final Expense the Best Option for 82 Years Old

Bottom line, final expense whole life insurance is your best option because even if you have a few medications and health conditions the underwriting is typically a look back of only 2 – 3 years on average. This means if you had a heart attack over 2 years ago and no issues since then you have a good shot at getting qualified without a waiting period.

Universal Life or Indexed Universal Life Not a Good fit

Again the medical exam underwriting also applies to Universal Life which is another Whole Life product designed more for building cash value but if you have been sick within 10 years this option is out for you and is also more expensive.

Best Life Insurance for 82 Year Old

Again out of everything we have discussed the best life insurance for 82 year old is final expense insurance. It is easy to qualify for and permanent. It is designed specifically for seniors with health conditions so they can have quality coverage to pay for their burial when they die so their family is not left with a burden.

Steps to Qualify & Purchase

The steps to qualify for these policies are simple and the whole process only takes 30 minutes or less.

  1. Fill out The Quoter to the Right
  2. Speak with one of our Agents
  3. Answer Agent’s Health Questions
  4. Select the Policy your Agent recommends
  5. E-sign for the Application via E-mail or Voice Signature (Depending on the carrier)
  6. Instant Decision is Reached right on the Phone

That’s it and you have coverage in 30 minutes or less.

Burial Life Insurance Benefits

The benefits of burial life insurance for 81 year old are very straightforward.

  • Premiums Never Increase
  • Death Benefit Never Decreases
  • Death Benefit to the Beneficiary is Tax-Free

There are also additional riders like the Accelerated Death Benefit Rider. This rider is designed for if you get terminally ill you can withdraw a portion of your policies face amount to pay for anything you may need that normal health insurance may not cover.

You can use the money for whatever you need. This is also referred to as living benefits for these types of policies.

Burial Life Insurance for 82 Year Old woman Rates

Coverage Amount82 Year Old Female Non- Tobacco Pricing82 Year Old Female Tobacco Pricing
$10,000 of Coverage$113.96$160.56
$15,000 of Coverage$169.33$239.23
$20,000 of Coverage$224.71$317.91

Burial Life Insurance for 82 Year Old man Quotes

Coverage Amount81 Year Old Male Non-Tobacco81 Year Old Male Tobacco
$10,000$160.16$204.65
$15,000$238.64$305.66
$20,000$317.12$406.67

Conclusion

Seniors need life insurance for 81 year old to be easy to qualify for because as we get older our health declines bottom line. This is why burial insurance is the best type of life insurance for this particular age because the end-of-life expenses are not going to be earth-shattering with 200k plus left on a mortgage or your family loses their home.

However, the funeral expenses of 10k – 20k plus will leave a substantial burden on your family that they will have to pay if you do not have this coverage in place. This is why making sure their financial well-being is important because it shows how much you loved them and wanted to protect them.