Life Insurance for Seniors over 85 is Available
If you are over age 85 and need life insurance it is important to know that now is the time to get covered. There are life insurance for seniors over 85 options however your options are limited at this age.
We will go over everything you need to know about life insurance for seniors 85 and over 85.
You can also read our detailed article’s on Burial insurance age 80, Burial Insurance for Seniors over 70 and Burial Policy for Seniors
Table of contents
- Can You Get Life Insurance at Age 85?
- Can You Get Life Insurance after Age 85?
- Companies Available at 85
- How Much Life Insurance Coverage for Over 85 Do I Need?
- Can I get life insurance for my 85 year old mother?
- Companies Available After 85
- Life Insurance at Age 85 and Over Quotes Sample Rates
- Applying for Life Insurance For Elderly Over 85 With Us
- Waiting Period’s
- Guaranteed Issue Life Insurance over 85
Can You Get Life Insurance at Age 85?
Yes, you can get life insurance at age 85 the companies that offer coverage are limited because a lot of life insurance companies are not going to offer life insurance for seniors at 85 or over 85. You can only get final expense insurance at age 85. Now term life insurance is not going to be available for seniors 85 or over 85 Universal Life Insurance is not a good option since the underwriting is so strict.
This means your only option is burial insurance which is final expense life insurance. It is a simplified issue whole life policy designed to be a permanent life insurance to pay for your funeral expenses which is why it is called final expense insurance.
These policies offer coverage amounts of $10,000 , $15,000, $25,000 up to $40,000 in most cases. These types of life insurance also build cash value which is like a small savings account with the policy.
Can You Get Life Insurance after Age 85?
Yes life insurance for seniors over 85 is possible however there are only a handful of life insurance companies that will offer you permanent coverage.
You cannot get companies like Mutual of Omaha at this age as they will not cover seniors over 85. Your options are limited because at this age most life insurance companies see this as high risk because the older you are the closer you are to death.
Companies Available at 85
If you are age 85 then there still are a lot of life insurance companies that will offer you coverage if you qualify. The companies below will still be able to offer you coverage if you qualify.
- Mutual of Omaha
- American Amicable
- Guarantee Trust Life
Some of these companies also offer additional riders like accelerated death benefits and grandchild riders. Riders are additional add-ons to provide extra benefits from your policy.
How Much Life Insurance Coverage for Over 85 Do I Need?
The average cost of a burial is $7,848 according to the National Funeral Directors association 2021 report. This means the amount of life insurance you should purchase over 85 is at least $10,000 in life insurance death benefit. Having $10,000 in life insurance coverage should provide for all of your final expenses.
That is how you will protect your family from the funeral bill when you die.
How Much Will Life Insurance over 85 Cost for Me?
Life insurance over 85 will cost between $250 – $300 monthly if you are over age 85. Rates are based on age and the older you get the higher the premiums will be. The good news is once you get your policy in force the life insurance rate will never increase on you.
Can I get life insurance for my 85 year old mother?
Yes, you can buy life insurance for your 85 year old mother. You need to have her be involved with the application process. She will have to answer the life insurance health questions and consent to you purchasing life insurance for her.
Companies Available After 85
Now life insurance for seniors over 85 options are limited as we mentioned. There are 2 solid life insurance companies seniors over 85 can apply for with us.
- Guarantee Trust Life
Aetna is a policy with no waiting period if you are healthy and can answer all their health questions with a “no”. Aetna is the best life insurance company for seniors over 85. Now Guarantee Trust Life has an automatic waiting period but after year 1 of having the policy it will pay 50% of the death benefit to your beneficiary so it is not a full 2-year waiting period policy.
Plan availability for these also depends on your state. Both those carriers may not be available in select states.
To check the state availability and see life insurance quotes specific to your age fill out the form to your right.
Life Insurance at Age 85 and Over Quotes Sample Rates
We have provided a table below with whole life insurance quotes for age 85 and over from our quoting technology. This will give you a comprehensive idea of how much burial insurance for seniors age 85 and over will cost and what life insurance companies are available. The best part about funeral insurance at age 85 or over is the fact that the rate locks in the moment you start the policy which means your premium will never increase unexpectedly. That is why it is crucial to buy this type of life insurance as soon as possible. The longer you wait to get whole life final expense insurance at age 85 or above the higher the premium will be.
|Burial Insurance Quote Samples Rates for Ages 85 – 89 Life Insurance Sample Quotes|
|Age||$10,000 Male Non Smoker Sample Quotes||$10,000 Male Smoker Sample Quotes||$10,000 Female Non Smoker Sample Quotes||$10,000 Female Smoker Sample Quotes||Final Expense Companies Available per Age|
|85||$181.88||$237.28||$128.55||$179.58||Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life,|
|86||$192.74||$257.57||$135.90||$192.35||Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life,|
|87||$236.25||$337.32||$171.33||$237.32||Aetna Accendo, Guarantee Trust Life|
|88||$276.68||$353.99||$205.98||$253.99||Aetna Accendo, Guarantee Trust Life|
|89||$317.10||$370.65||$240.63||$278.99||Aetna Accendo, Guarantee Trust Life|
Applying for Life Insurance For Elderly Over 85 With Us
In order to apply for life insurance over 85 you need to fill out our quote form to the right with some basic information. Within minutes of you filling out our quoter an agent will contact you via phone call and ask some basic health questions.
If all of your answers check out our agent will proceed to complete the life insurance application with you over the phone. You will then do an e-signature with your agent to submit the application to the life insurance company. There is no medical exam and they use an instant decision software which means we will get a decision on your application within minutes of submission.
Once your policy is approved and the first payment is received the life insurance is active.
Your health will determine whether or not you can get a life insurance policy without a waiting period or with a waiting period. The good news is with the liberal underwriting of these carriers we can help most seniors qualify for burial insurance with preexisting conditions.
That is why when you speak with one of our agents they will ask you health questions to determine if they can get you qualified for coverage without a waiting period.
Guaranteed Issue Life Insurance over 85
There are no guaranteed acceptance life insurance for seniors over 85 or at age 85. For this age range you are going to have to answer health questions on life insurance company applications.
Burial insurance with no health questions does not exist for seniors over 85. Again this is why working with our highly trained agents is crucial for you to get approved for a policy.