Worst Life Insurance Companies for Seniors(5 Companies)

We believe strongly in providing the best brands available to seniors when it comes to final expense insurance. That being said we also make it a point to warn about the worst life insurance companies for seniors.

The thing is in order to get the perfect policy for you and your loved ones you need to work with an independent insurance agency that offers multiple companies. This is how you will find the best options in the life insurance industry.

These companies we are going to discuss in this article have captive agents which means they can only sell you one product with the company they work for which means your options are so limited finding the best solution to your problem with captive agents like that is impossible.

That being said the companies we are going to discuss are the worst insurance companies for seniors and should be avoided at all costs.

Worst Life Insurance Companies for Seniors (The Why?)

Now what makes these companies so bad are quite a few different factors.

  1. Complaints
  2. Bad Customer Service
  3. Marketing Gimmicks
  4. Over Priced

We have gone into extensive detail regarding each of the companies in our list but to summarize it all the list above makes it very clear. The only real reason consumers know these company names is because they invest millions into their marketing efforts and brand awareness to make their companies “house hold names”.

Does that really mean anything? No, it does not just because a company is well known does not mean they offer a superior product period.

Colonial Penn

Ages 50 – 85

Amount of Coverage: Up to 12 Units

Waiting Period: Automatic 2-Year Waiting Period or Non-Waiting Period

State Availability: All States Except NY

Why you Shouldn’t Buy It

They advertise their $9.95 plan in their commercials as if it is only $9.95 a month for the plan. This is a marketing gimmick that deceives consumers. The truth is it is $9.95 per unit which is much lower than what consumers think. The older the insured is the less the unit will cover so if a unit is $1,000 then to get $10,000 worth of coverage it would be $99.50 a month for just a $10,000 policy.

That is how they get consumers, in addition to that even if you are healthy you will be pitched their Guaranteed Issue plan that has a 2-year waiting period automatically. Now if you are healthy you should not have to get a waiting period.

We go into greater detail in our Colonial Penn 995 Plan Review

Lincoln Heritage Funeral Advantage

Available Ages: 0-85

Amount of Coverage: Up to $35,000

Waiting Period: Waiting Period and Non-Waiting Periods

Available States: All Except NY

Why You Shouldn’t Buy It

Lincoln Heritage uses a gimmick for their Funeral Guardian Society this allows a consumer to pick and plan their funeral before they die. Now this sounds good on the surface but Lincoln Heritage treats it as some special benefit for getting their plan when it is much more expensive than other companies.

In addition to this, you can preplan your funeral without their Guardian Society for free which means Lincoln Heritage is not worth overpaying.

We go into greater detail in our Lincoln Heritage Funeral Advantage Review

AARP Life Insurance (New York Life)

Age: 50-80

Amount of Coverage: Varies

Waiting Period: 2 – Year Waiting Period or Non Waiting Period

Available States: All 50 States

Why You Shouldn’t Buy It

You are already going to overpay by paying AARP monthly membership fees on top of the insurance you purchase from them. In addition to this their 2 products are not worth it.

Term Product

  • $100,000 in Coverage (Other products go much higher than this)
  • Expires at Age 80 No matter what

Simplified Issue Product

  • Strict Underwriting Hard to Qualify

AARP Guaranteed Issue Product

  • Over Priced
  • 2 Year Waiting Period

We go more in-depth in our AARP Burial Life Insurance Review for Seniors.

Globe Life Insurance

What Age Can You Apply 18-79

Coverage: Up to $100,000

Waiting Period: None

States: All States

Why You Shouldn’t Buy It

This product is an increasing term which means the life insurance increases in price every 5 years that goes by. It means your policy will become more and more expensive as time goes on until it becomes unaffordable this is one of the worst life insurance companies for seniors. This alone should help any consumers steer clear of this product

To add insult to injury all Globe Life policies expire at age 90 so if you outlive this policy while paying the outrageous premiums you get nothing in return.

We go into greater detail in our Globe Burial Insurance Review for Seniors.

Trustage

Age: 15 – 85 Depending on the Product

Coverage: $2,000 – $100,000 Depending on the Product

Waiting Period: Depends on Product

State: Varies between Products

Why You Shouldn’t Buy It

Trustage is simply overpriced and they only offer one product which is why they are overpriced compared to what we offer. In addition to this, you do not have an insurance agent present to assist you with your search. Many consumers may think this is good but it is not, insurance agents can shop the market for you and find you the best product and premium available.

We go into greater detail in our Trustage Life Insurance Review.

Better Pricing and Better Companies Ages 19 – 91

Below we have included our table that displays better pricing compared to the companies we discussed. You will see better life insurance companies in our table as well as life insurance quotes directly from our quoting technology. This will give you a comprehensive idea of how much life insurance will cost with much better companies.

Burial Insurance Quote Samples Rates for Ages 19 – 91 Life Insurance 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 QuotesFinal Expense Companies Available per Age
19$12.87$16.59$12.03$13.74Liberty Bankers Life, Sentinel Security Life
20$13.19$17.02$12.13$15.40Liberty Bankers Life, Sentinel Security Life
21$13.50$17.46$12.74$17.02Liberty Bankers Life, Sentinel Security Life
22$14.17$18.18$13.06$17.05Liberty Bankers Life, Sentinel Security Life
23$14.54$18.51$13.77$17.08Liberty Bankers Life, Sentinel Security Life
24$15.43$19.19$15.16$17.10Liberty Bankers Life, Sentinel Security Life
25$15.95$20.00$15.28$17.39Liberty Bankers Life, Sentinel Security Life
26$16.28$20.83$15.40$17.69Liberty Bankers Life, Sentinel Security Life
27$16.61$21.75$15.51$17.95Liberty Bankers Life, Sentinel Security Life
28$16.92$22.15$15.61$18.22Liberty Bankers Life, Sentinel Security Life
29$17.25$22.54$15.73$18.48Liberty Bankers Life, Sentinel Security Life
30$17.57$23.07$16.09$19.06Liberty Bankers Life, Sentinel Security Life
31$17.97$23.60$16.45$19.66Liberty Bankers Life, Sentinel Security Life
32$19.84$24.25$16.79$20.21Liberty Bankers Life, Sentinel Security Life
33$20.34$25.00$17.12$20.75Liberty Bankers Life, Sentinel Security Life
34$20.93$25.83$17.45$21.28Liberty Bankers Life, Sentinel Security Life
35$21.53$26.59$17.99$21.89Liberty Bankers Life, Sentinel Security Life
36$22.14$27.37$18.54$22.50Liberty Bankers Life, Sentinel Security Life
37$22.84$28.18$19.06$23.08Liberty Bankers Life, Sentinel Security Life
38$23.54$29.08$19.55$23.62Liberty Bankers Life, Sentinel Security Life
39$24.34$29.87$20.05$24.18Liberty Bankers Life, Sentinel Security Life
40$23.13$30.66$20.70$24.98Liberty Bankers Life, Sentinel Security Life, Aetna Accendo, Guarantee Trust Life, Great Western
41$23.62$31.43$19.75$25.80Liberty Bankers Life, Sentinel Security Life, Aetna Accendo, Guarantee Trust Life, Great Western
42$24.11$32.21$19.93$26.57Liberty Bankers Life, Sentinel Security Life, Aetna Accendo, Guarantee Trust Life, Great Western
43$24.64$32.93$20.10$27.30Liberty Bankers Life, Sentinel Security Life, Aetna Accendo, Guarantee Trust Life, Great Western
44$25.18$33.41$20.38$28.03Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Guarantee Trust Life, Aetna Accendo, Great Western
45$25.79$34.00$20.88$28.80Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Guarantee Trust Life, Aetna Accendo, Great Western
46$26.43$34.57$21.43$29.55Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Guarantee Trust Life, Aetna Accendo, Great Western
47$27.10$35.17$22.01$28.06Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Guarantee Trust Life, Aetna Accendo, Great Western
48$27.71$35.58$22.33$28.56Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western
49$27.35$38.27$21.78$29.22Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life,
50$28.29$39.47$23.56$30.14Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
51$29.26$40.77$24.48$31.06Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
52$30.31$42.22$25.09$32.72Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
53$31.47$43.83$25.62$34.54Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
54$32.77$45.44$26.26$38.99Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
55$34.25$48.12$27.11$40.85Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
56$35.88$52.06$28.20$42.71Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
57$37.69$54.25$29.51$42.30Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
58$39.64$56.72$31.70$43.61Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
59$40.10$55.60$31.00$44.50Liberty Bankers Life, Sentinel Security Life, Mutual of Omaha, Aetna Accendo, Guarantee Trust Life, Great Western, AIG, American Amicable, Gerber, Prosperity Life
60$41.84$56.72$31.70$43.61Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
61$43.76$59.64$32.87$45.19Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
62$46.41$63.28$34.51$47.48Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
63$49.07$67.72$36.06$49.78Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
64$51.22$69.53$37.72$52.07Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
65$53.58$72.72$39.36$54.36Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
66$56.48$76.06$41.01$56.66Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
67$59.85$80.53$43.44$60.22Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
68$63.18$84.67$45.86$63.60Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
69$66.84$89.65$48.29$66.09Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
70$70.79$94.64$50.81$70.45Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
71$73.15$98.31$53.24$72.18Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
72$78.81$103.97$56.20$75.86Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
73$83.99$109.94$58.46$79.74Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
74$89.46$116.69$63.55$84.14Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
75$94.87$123.65$67.78$88.66Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
76$99.97$132.48$72.41$94.42Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
77$107.04$141.32$78.25$101.63Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
78$114.13$150.57$83.51$108.24Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
79$122.13$161.81$88.44$115.15Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
80$129.52$171.23$93.41$125.01Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
81$139.73$181.75$98.43$135.14Mutual of Omaha, Aetna, Gerber, AIG, American Amicable, Prosperity Life, Liberty Bankers Life, Sentinel Security Life,Guarantee Trust Life, Great Western Insurance Company
82$149.95$192.98$106.21$147.04Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life,
83$160.16$204.65$113.96$160.56Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life,
84$171.02$219.19$121.31$170.76Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life,
85$181.88$237.28$128.55$179.58Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life
86$192.74$257.57$135.90$192.35Mutual of Omaha, Aetna, American Amicable, Sentinel Security Life,Guarantee Trust Life
87$236.25$337.32$171.33$237.32Aetna Accendo, Guarantee Trust Life
88$276.68$353.99$205.98$253.99Aetna Accendo, Guarantee Trust Life
89$317.10$370.65$240.63$278.99Aetna Accendo, Guarantee Trust Life
91$387.32$387.32$337.32$337.32Guarantee Trust Life
90$357.53$378.98$275.28$303.99Aetna Accendo, Guarantee Trust Life

Conclusion

These are all the absolute worst life insurance companies for seniors and should be avoided at all costs. To get the best options available to you, you need to work with an independent insurance broker like us with access to all the top major carriers on the market.

This allows our agents to work for you not the insurance companies and help you shop for the best plan available to you and your situation.