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Top 10 Best Affordable Senior Life Insurance Over 80

Are you a retiree or are you on your way? Well, keep reading because this article is just for you. Most people think that it is unnecessary, since you are old and your children are more likely to be adults. You still have to invest your finances well for the good of your loved ones.

Senior life insurance coverage for seniors is the best option for you. This coverage helps older people save money for their families, which they take after their death. These are some of the advantages you can take into account if you are over fifty and still do not have life insurance over 50 to 80.

Affordable Senior Life Insurance Over 80

Affordable Senior Life Insurance Over 80
Top 10 Best Affordable Senior Life Insurance Over 80

What options are there for life insurance for people over 80?

Yes, you can buy life insurance for people over 80 years old. At age 80 or older, whole life insurance is usually the only type available.

Most people over this age only need life insurance to cover funeral costs, which is why you will often see policies at this age called burial insurance plans or final expense insurance.

Here’s how a complete life plan on 80 life policies will work:

  • Premiums are fixed and cannot be increased
  • Guaranteed coverage that will never decrease
  • The policy cannot expire due to age
  • Builds cash value that you can borrow from

Since it is life insurance, the end result will be a tax-free cash payment directly to your beneficiary (s).

Technically, money can be used for anything. There are absolutely no restrictions on how the money is spent.

Paying for a funeral? Great, because no funeral home will turn down cash.

Paying a bill of some kind? Great because no debtor will turn down the cash.

We think you already got the point. Cash is king and that is exactly what an 80+ life policy will provide!

If there is money left over, your family will use it as they see fit.

Cheap Senior Insurance List:-

Provision for Funeral Expenses.
With this type of cheap life insurance for seniors over 80 to 85, as much as you will not be there, you will cover the expenses of your funeral.

Risk Coverage
There are people who marry at an advanced age, perhaps because of work, studies or even bad luck! Invest your money for unforeseen circumstances.

More Affordable
Compared to other policies, Cheap life insurance for the elderly over 80 to 85 is the most affordable;

Health care
Aging comes with other complications in regards to your body. You may need medical assistance more frequently and, for some, you may need to hire a medical assistant to handle your multiple medical needs.

All this could cost your family, which is probably having enough expenses on your plate. The over 80 life insurance of the elderly will take care of your medical bills as long as you are still paying them.

Way of saving
You may be thinking that this will only consume your retirement funds, but life insurance for elderly parents over 80 coverage for seniors is also a way of saving for the future.

Life Insurance for Elderly Parents

Here are some actual burial life insurance quotes for people over 80.

Keep the following in mind when viewing these fees:

  • Eligibility is based on your health, residency status, gender, and health.
  • Women in Montana will pay fees for men due to a state TM law.

You can have any amount of coverage you want. You are not limited to these options. Use the quotation tool on this page to see the prices of whatever par value you want.

These are tobacco-free rates. If you smoke cigarettes, you will pay more.

What about final expense or burial insurance?

Whenever you hear the words “burial insurance,” “final expense,” or “funeral insurance,” know that all of these labels mean the same thing.

Everything is life insurance. The final expense for people 80 and older is a lifetime policy only. There is no type of insurance for burial expenses other than life insurance.

How much can you buy at this age?

Understand that your exact options depend on your age, state of residence, and health. With that said, $2,000 is generally the minimum amount of life insurance for people over 80 that someone could buy.

At the opposite end of the spectrum, $ 100,000 in coverage is generally the maximum (and it wouldn’t be cheap).

The least expensive type of life insurance policy, judging by the amount of premium payments and the cost of insurance, will always be a term life insurance policy. This is because term life insurance has no cash value and expires before the insured is hypothetically expected to die.

You do not need to take an exam, but you must complete a health questionnaire.

There are no exceptions to this rule.

  • Any policy from any company where they do not ask about health will always have a waiting period of 2-3.
  • Understand that some websites will outright lie to you about this to make you click or call them.
  • It’s sad but true. They only do this to make money (they get paid when you call or click the “get quotes” button).
  • Again, you must apply to a company where you are answering health questions and then it is approved.

You may be wondering …

Why do you have to work with an agent instead of dealing directly with the insurance company?

  • Plans that have health questions are only sold through authorized agents. They do not offer these plans directly.
  • With that in mind, if you ever deal directly with the insurance company (without speaking to an agent), it will be a guaranteed acceptance plan that has no health questions.
  • Again, no-health questions guaranteed issue plans don’t have immediate coverage. They all have a 2-3 year waiting period clause (no exceptions).
  • If you want immediate coverage, call us at 1-800-644-2926 and one of our friendly agents will find out if it’s possible in less than 60 seconds.
  • Get affordable life insurance for people over 80 from these companies
    Some companies do not accept new applicants who are 80 years or older.

But not these companies …

Below is a list of all companies that offer final expense life insurance to people 80 and older.

You can view quotes for any of these companies using the quote tool found on this page onlineseniorlifeinsurance.com

Affordable Life Insurance Quotes

1) Mutual of Omaha

  • Burial insurance for those over 80
  • Age availability for new applicants: 45-85
  • State availability: All states except NY
  • Nominal amount limits over 80: $ 2,000- $ 40,000
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.

Mutual of Omaha final expense life insurance is the least expensive company for people 80 and older. If you can qualify for your plan, please do so because you won’t find a better deal elsewhere!

Please note that if you call Mutual of Omaha directly, they will have a different policy that they offer you. It will cost more and will have a two-year waiting period.

This policy that they sell is only sold through agencies like Choice Mutual.

2) Royal Neighbors of America burial insurance for those over 80

  • Age availability for new applicants: 50-85
  • State Availability: All States except AK, AL, HA, LA, MA, NH, NY
  • Nominal amount limits over 80: $ 5,000- $ 25,000
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.

With over 130 years in business, Royal Neighbors of America has a stellar track record as a very stable insurance company. They probably have the most relaxed underwriting for any burial insurance plan on the market.

In addition to their ultra liberal subscription, they also offer great prices for people 80 and over.

3) Aetna

  • Burial insurance for people over 80
  • Age availability for new applicants: 45-89
  • State Availability: All States except AK, CA, CT, HI, MD, ME, DC, NY, VT, and WA
  • 80+ nominal amount limits: $ 3,000- $ 25,000 ($ 10k maximum above 85)
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.
Aetna offers a great subscription that accepts many different health concerns. Not to mention, their policy is competitively priced for this age group.

They are incredibly unique because they insure people over the age of 85.

4) Transamerica

  • Age availability for new applicants: 45-85
  • State Availability: All States
  • 80+ nominal amount limits: $ 1,000- $ 25,000
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.

Transamerica is a fairly well known name in the insurance industry given how long they have been around.

Your final spending product will accept some very serious health problems that other companies would reject completely.

They’re not the cheapest, but they’re pretty close to what other companies charge people over 80 for life insurance.

5) Foresters Financial

  • Age availability for new applicants: 50-85
  • State Availability: All States
  • Nominal amount limits over 80: $ 2,000- $ 15,000
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.

Although not a household name, Foresters is a financially strong insurance company.

Your 80+ life insurance will accept many health issues and will be on par with what other companies charge.

They also give each policyholder access to free member benefits at no additional charge.

6) American friendly

  • Age availability for new applicants: 50-85
  • State availability: all states except CT, ME, MT, NH, NY, VT
  • 80+ nominal amount limits: $ 2,500- $ 20,000
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.
Commonly known as “AmAm”, they are another great company that combines competitive pricing with an indulgent subscription.

Your plan also allows you to add a few different optional passengers for just a few extra dollars.

7) Americo

  • Age availability for new applicants: 50-85
  • State availability: all states except CT, ME, MT, NH, NY, VT
  • 80+ nominal amount limits: $ 3,000- $ 30,000
  • 2-year waiting period: No (subject to underwriting approval)

How to apply: through authorized agencies such as Choice Mutual. It is not sold directly.

Americo has a unique underwriting that allows many applicants to qualify for immediate coverage where other companies would impose a waiting period.

Their rates are higher than most, but that’s only because they accept some health issues that other providers don’t.

8) AIG

  • Age availability for new applicants: 50-85
  • State availability: all states except ME, NY and PA
  • Nominal amount limits over 80: $ 2,000- $ 25,000
  • 2-year waiting period: Yes

How to apply: through authorized agencies such as Choice Mutual or AIG Direct (no difference if you buy directly from them)
The AIG policy is a guaranteed issue, which means that you cannot be declined due to your health (that’s why there is a 2-year waiting period).

Only those with very high risk health problems should purchase the AIG policy. For those who need it, thankfully it’s there so they can still get coverage.

Companies that grant new coverage to people aged 86 to 90 years

There are only two companies that will issue a new life insurance policy for someone over the age of 85.

You need to know the following when you go into this:

You should be in relatively good health. It is very risky for them to accept applicants at this age, so they cannot afford to accept applications that have serious health problems.

$ 10,000 is the highest amount of coverage each of these companies will offer applicants over the age of 86.

9) Aetna

Burial insurance for people over 80

Most people associate Aetna with health insurance. It is understandable given the fact that they are one of the largest health insurance providers in the world.

Aetna has a subsidiary company called American Continental Insurance Company. This company is one of two that issues final expense life insurance to people over the age of 85.

If you are between the ages of 86 and 89, we can help you buy coverage with Aetna. Call us at 1-800-644-2926.

10) Security National Life

Burial insurance for people over 80

Although they are not as well known as Aetna, SNL is still a very safe and reputable life insurance company.

Also, they are the only other carrier that will touch an applicant over the age of 85.

Furthermore, they are the only ones who will issue new coverage to a 90-year-old! Aetna stops at 89.

The downside to SNL is that they require an agent to physically meet with you to apply. That is why we do not represent them.

Frequent ask questions

Here are some of the most common questions we get when it comes to life insurance for people over 80.

If you have a question that is not answered here or elsewhere in this article, please email us your question. The email to send it is info @ choicemutual.com

We will post your question with the answer within three business days.

Q: Can you get term life insurance for people over 80?

A: There is no term life for people over 80 years old. It is not available due to the average life expectancy of a US citizen.

It is too risky for a life insurance company to offer term life insurance at this age. You can only get whole life insurance when you are 80 or older.

Q: Can you get 80+ life insurance?

A: Yes, you can get a new life policy when you are over 80 years old. Whole life insurance is the only option and there are many insurance companies available.

Coverage amounts and premiums depend on your age, gender, health, and residence status.

Q: Is there life insurance for people over 80 years old without a medical exam?

A: Yes, there is no life coverage for medical exams over 80 years old. In fact, most life insurance policies at this age do not require a medical exam.

Some have no health questions where acceptance is guaranteed.

Q: Can you buy life insurance for parents over 80?

A: You can buy life insurance for your parents at any age. Your parents or grandparents must consent to the policy, but you can be the owner, payer and beneficiary if they accept it.

Buying life insurance for mom or dad is quite common.

Q: Can you get life insurance at age 85?

A: Yes, you can get life insurance at age 85. In fact, we have several life companies that insure 85-year-olds.

Premiums tend to be over $ 100 per month due to the age of the applicant.

Q: Can you get life insurance at 87?

A: It is possible to get life insurance at 87, but the options are incredibly limited.

A: There are only two companies in the US that offer coverage at this age. Your ability to qualify depends on your health and status of residence.

Q: Does 80+ life insurance always have a waiting period?

A: Some policies at this age have a waiting period and some do not. To get one without a waiting period, you will need to qualify medically.

Most people 80 and older can get a policy that does not have a waiting period.

Q: Does AARP carry 80+ life insurance?

A: No, it is not. AARP whole life insurance issued by New York Life stops accepting new applicants at age 80. If you are over 80, they cannot help you.

  • Top 10 Best Affordable Senior Life Insurance Over 80 to 85 Years Old Age.