Senior Life Insurance Company Review Pros & Cons

This is our senior life insurance company review, we have seen their commercials and researched senior life insurance company extensively.

Now senior life insurance company is a legit company however there are some reasons we would not recommend them. In this review we will provide comprehensive insight into their products and background to help you make an informed decision.

It is important when shopping for final expense insurance that you know the ins and outs of life insurance companies. We can say confidently that if you buy burial insurance with senior life insurance company you will be overpaying.

Pros & Cons of Senior Life Insurance Company

There are pros and cons to every life insurance company and product. Based on our analysis we will list both the good and the bad.


  • Their Products Are Available Through Ethos Life
  • You can pay your premiums on their website
  • A claim can be filed through their website


  • Immediate benefit plans only offer a maximum amount of $30,000 in coverage
  • Modified Plans only offer a maximum amount of $15,000 in coverage
  • Guaranteed Issue plan only offers a maximum amount of $10,000 in coverage
  • Both modified and guaranteed issue plans have a 2-3 year waiting period

Senior Life Insurance Company Website & Background

How Long Has Senior Life Insurance Company Been Around?

Senior life insurance company has been around since 1970 when it was founded. Since it is currently 2023 this means Senior Life Insurance Company has been around for 53 years.

Senior Life Insurance Company Products

Senior life has 2 different products like most life insurance companies do which is whole life insurance and term life insurance. They primarily seem to market burial insurance for seniors which is a small whole life insurance policy typically between $2,000 – $40,000 in coverage depending on the life insurance company.

Now senior life only offers up to $30,000 of a death benefit for their whole life insurance policy. Their term life insurance only offers a 20 year term policy which means you have temporary insurance for 20 years then it expires. We do not recommend term life insurance for seniors.

According to senior life’s product section they offer several different immediate benefit plan names. Each immediate benefit product has some different features. Below is a table outlining these names and features.

Plan NameAge AvailabilityCoverage AmountsType of Coverage
Ultimate Preferred0-85$10,000 Min-$30,000 MaxWhole Life Insurance
Super Preferred0-85$5,000 Min-$30,000 MaxWhole Life Insurance
Preferred0-85$1,000 Min-$20,000 MaxWhole Life Insurance
Platinum Protection55-85$5,000 Min-$30,000 MaxWhole Life Insurance
Standard0-85$1,000 Min-$20,000 MaxWhole Life Insurance
20 Pay Standard0-60$1,000 Min-$20,000 MaxWhole Life Insurance

Whole Life Insurance

They’re are 2 different types of this product for whole life coverage.

Immediate Benefit Plan

Whole life policies for funeral expenses are simplified issue life insurance. This means there is no medical exam required to get approved. There are health questions for health conditions you need to answer.

Even if there is no medical exam the underwriting for this product can be strict which means it can still be hard to qualify for.

If you do pass the no medical exam underwriting there is no waiting period for the death benefit to be paid to your beneficiary.

In addition to this the pricing for senior life’s life insurance policies is more expensive compared to other non waiting period life insurance policies like Mutual of Omaha’s Living Promise product.

Guaranteed Issue Policy

Plan NameAge AvailabilityCoverage AmountPlan TypeWaiting Periods
Modified Plan0-85$1,000-$15,000Whole Life2 Year Waiting Period
Return of Premium If death Occurs During Waiting Period With 10% Interest
Easy Issue Plan0-85$1,000-$10,000Whole Life3 Year Waiting Period
Return of Premium If Death Occurs During Waiting Period With 10% Interest
Guaranteed Issue Plan0-85$1,000-$10,000Whole Life3 Year Waiting Period
Return of Premium If Death Occurs During Waiting Period with 10% Interest

Their guaranteed issue policy is not a good option at all compared to everything else we have seen the only advantage that policy provides is it will cover ages 0-85. Now a lot of guaranteed issue plans will not cover an age that high but they will however it has these issues.

  • Only offers $10,000 death benefit
  • Has 3 year waiting period before death benefit can payout
  • Policy is overpriced for the amount of death benefit offered

You can get AIG life insurance and Gerber life insurance which only have 2 year waiting periods with much better prices. Now if you are age 85 and need life insurance we recommend Guarantee Trust Life which can extend coverage up to age 90 or if you are too sick for that then your only option would be senior life’s product or looking somewhere else.

A 3 year waiting period should be avoided at all costs for senior life insurance. That type of life insurance for final expense should be a last resort if you have extreme health conditions. This is why it is important to educate yourself when looking for senior life insurance for final expenses.

Term Life Insurance

Now their term life insurance product is not good in our opinion either because it is only good for 20 years. When it comes to term life insurance if you want the lowest rate for a term policy you need to go after a fully underwritten life insurance plan.

Those plans do require a medical exam and answers to health questions in order to get approved and issued.

With fully underwritten term life you can get 20 and 30 year policies at the lowest rates possible but you have to be in good health if you are looking for something like that.

Senior Life Insurance Company Trust Pilot Reviews

There are senior life insurance company reviews on Trust Pilot that are very negative. They have customer complaints and a 2.8 stars out of 5.0 for Trust Pilot.

That is the rating as of 5/4/2023.

Senior Life Insurance Company Pricing for Final Expense Product

Below are tables listing the average pricing for Senior Life Insurance Company’s final expense(burial insurance, funeral insurance etc.) product.

The “N/T” stands for Non-Tobacco in the table.

$10,000 Senior Life Quotes

Age$10,000 Female N/T

$20,000 Senior Life Quotes

Age$20,000 Female N/T

$30,000 Senior Life Quotes

Age$30,000 Female N/T

Is Senior Life Insurance Company Legit?

Yes senior life insurance company is legit but they offer over priced whole life and term life coverage products. You can find much better whole life insurance with other companies at much more affordable rates.

Senior Life Insurance Company Lawsuit

They are facing a lawsuit regarding unwanted text messages and TCPA. These are all things to consider when researching term insurance or coverage for final expenses keep this in mind when looking into an insurance company.

Senior Life Insurance Company AM Best Rating

We could not find an AM Best rating for Senior Life Insurance Company however they do have an A+ Better Business Bureau rating. However we did find a thread of complaints from the Better Business Bureau website regarding Senior Life’s pratices.

Who Owns Senior Life Insurance Company?

Ron Powell is the CEO and President of Senior Life Insurance Company. The company was founded by Ron Powell and Dale Powell in 1970.

  • Entered the workforce at 20 years old
  • Became a leader in the insurance world.

Senior Life Insurance Company Return of Premium

Senior life has advertised return of premium for their term life policy. This means for their 20 year term plan if you outlive it you will receive the premiums you paid in back. That is a really good feature in a policy now there are some drawbacks.

  • To get 100% of the premium returned you need to pay annually which means a bigger upfront cost when you purchase the insurance. If you choose a monthly payment you only you lose 2% on the premiums returned because it would only pay 98%.
  • Cannot cancel the term policy before it expires you will not receive the return of premium.
  • Return of Premium term plan is more expense than fully underwritten plans that have a medical exam required.


In conclusion senior life has some pros to the type of plans they offer like their term but as for their permanent coverage they fall short and we believe strongly you can find better options with us or with other life insurance agencies.

We can offer you up to $50,000 of a full death benefit and we work with several of the best life insurance companies in the insurance industry.

We specialize in funeral insurance for seniors and can help you find the best policy to fit your needs an budget. Contact us if you are interested in getting a whole life policy to help protect your family from your burial expenses.