The Best Life Insurance for Seniors in 2025
We chose Mutual of Omaha as our top pick for the best life insurance for seniors based on their high issue age limits, plan variety and competitive premiums.
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- Maximum issue age of 80 (85 for final expense policies)
- Term, whole, universal and final expense life insurance
- Available in all 50 states plus Washington D.C.
- Maximum issue age of 80
- Term, whole and final expense life insurance
- Available in all 50 states plus Washington D.C.
- Maximum issue age of 85
- Term, whole and universal life insurance
- Available in all 50 states plus Washington D.C.
Our experts examined the industry’s leading life insurance carriers and narrowed down the list to our top picks for older adults.
Our experts examined the industry’s leading life insurance carriers and narrowed down the list to our top picks for older adults.
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As you age, life insurance monthly premiums go up. If you are on a set retirement income, it’s important to consider how monthly life insurance premiums factor into your budget. Cost is not the only factor to consider, however, since some life insurance carriers offer better policies for older adults than others.
We chose Mutual of Omaha as our top life insurance carrier for older adults because they offer nationwide availability, affordable premiums and multiple types of life insurance to fit the unique needs of seniors. We’ll take a closer look at Mutual of Omaha and the rest of our picks below.
The Best Senior Life Insurance in 2025
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1. Mutual of Omaha - Best Customization Options
What we like most
- Maximum issue age of 80 (85 for final expense policies)
- Term, whole, universal and final expense life insurance
- Available in all 50 states plus Washington D.C.
Overview:Highlights
- Maximum issue age: 80 (85 with final expense)
- Policy types: Term, whole, universal, final expense
- Coverage amounts: Up to $150,000 for seniors
- Availability: All 50 states plus Washington, D.C.
- Medical exam required: No
Founded in 1909, Mutual of Omaha is a reputable insurance company with strong financial credentials. They offer a range of life insurance products, and their intuitive website makes it easy to choose between perks and benefits such as premiums that never increase, cash value policies, lifelong protection and no medical exams. Additionally, their whole life policies give you the option to pick your coverage in increments of $1,000, although we wish they offered higher coverage amounts for whole life insurance, like Fidelity Life and Corebridge Direct do.
» Avoid Medical Exams: Best Life Insurance for Seniors Without Medical Exams
Pros & Cons:Pros About Mutual of Omaha
- Customizable whole life and final expense plans
- Term life insurance for seniors with coverage up to $150,000
- Nationwide availability
- Easy-to-use website
Cons About Mutual of Omaha
- Most policies require you to call an agent for a quote
- Older seniors are excluded from certain plans and benefits
- Higher coverage available only with term life or universal policies
Summary:Plans and Pricing
We researched Mutual of Omaha life insurance plans for 65-year-old applicants living in Austin, Texas.
Plan Coverage amount Monthly premium (male) Monthly premium (female) Additional benefits Mutual of Omaha Whole Life $25,000 $169.75 $123.50 Premiums never increase *Plan availability, monthly premiums and coverage limits may vary based on your age, gender, health and location.
Unlike AARP, which offers double the death benefits for whole life insurance, Mutual of Omaha’s plan is comparable to a modest final expense plan. The coverage amounts range from $2,000 to $25,000. We like that you can increase or decrease the whole life coverage in $1,000 increments, ensuring you get exactly the amount of coverage you need and can afford. It’s also a big plus that the premiums never increase, and you won’t have to worry about medical exams.
Pro Tip: Looking for ways to save on medical expenses with Mutual of Omaha? Check out our review of Mutual of Omaha Medigap plans.
As for term life and universal life, it’s impossible to get a quote online, which is a drawback. Based on our research, 65-year-olds in Austin, Texas, should expect to pay premiums between $40 and $60 per month for a 20-year term life insurance plan with Mutual of Omaha. That’s more affordable than a comparable term life plan from Northwestern Mutual. Mutual of Omaha’s universal life plans are similar in cost to their term life plans, but the premiums are more difficult to gauge because universal life allows you to adjust your premiums and death benefit to meet your needs.
Customer Feedback
Like many carriers, Mutual of Omaha gets mixed reviews from customers. Many praise the company for offering affordable insurance products and a fast claims process. Based on our experience speaking with agents, they seemed well-informed and friendly. Some customers, however, have complained that the company charged them more than the agreed-upon premium and took months to issue a refund. Others said they’ve had to play phone tag for weeks with the company just to get someone on the line.
» For Whole Life Plans: The Best Whole Life Insurance for Seniors
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2. AARP - Best Premiums
What we like most
- Maximum issue age of 80
- Term, whole and final expense life insurance
- Available in all 50 states plus Washington D.C.
Overview:Highlights
- Maximum issue age: 80
- Policy types: Term, whole, final expense
- Coverage amounts:Up to $150,000 for seniors
- Availability: All 50 states plus Washington, D.C.
- Medical exam required: No
AARP is dedicated to the betterment of adults over the age of 50, and they’ve teamed up with New York Life to provide some of the most valuable and affordable life insurance plans for older adults. Not only are the rates competitive, but none of the plans require medical exams. Add in relatively high coverage limits (more than double Mutual of Omaha’s), and you’ve got one of the top contenders for life insurance carriers. Just remember that the plans are available only to AARP members, but you can sign up for a membership when you apply for an insurance policy.
» Becoming a Member: A Guide to AARP Memberships
Pros & Cons:Pros About AARP
- Competitive premiums with most plan types
- Excellent resources and discounts for seniors through AARP
- Nationwide availability
- No medical exams required on any plans
- Offers policies with chronic care benefits
Cons About AARP
- Must be an AARP member to get a plan
- Coverage amounts for whole life are somewhat low
Summary:Plans and Pricing
We researched AARP life insurance plans for 65-year-old applicants living in Austin, Texas.
Plan Coverage amount Monthly premium (male) Monthly premium (female) Additional benefits AARP Level Benefit Term Life $25,000 $67 $44 Can be switched to permanent life up to age 80 $50,000 $128 $81 $100,000 $236 $154 $150,000 $323 $213 AARP Permanent Life $5,000 $32 $24 Rates never increase $10,000 $62 $47 $25,000 $150 $109 $50,000 $284 $193 AARP Permanent Life With Living Benefits $10,000 $67 $54 Can withdraw half the benefit amount to cover chronic care $25,000 $161 $127 $50,000 $303 $227 $100,000 $586 $428 AARP Guaranteed Acceptance Life $5,000 $36 $27 No health questions required $10,000 $70 $52 $25,000 $172 $127 $30,000 $206 $153 *Plan availability, monthly premiums and coverage limits may vary based on your age, gender, health and location.
We really like the pricing transparency that AARP offers. You have to input a bit more information to get an online quote than you would with Mutual of Omaha or Fidelity Life, but you get quotes for every plan type. AARP also offers some of the most affordable life insurance plans for seniors, with death benefits that can go as high as $150,000 (term life) or $100,000 (whole life). The only downside is that you need to be an AARP member to get a plan, which costs an additional $16 per year. AARP members, however, have access to tons of resources and discounts you couldn’t get through a traditional insurance carrier.
» Reap the Rewards: AARP Travel Discounts
Customer Feedback
Both AARP and New York Life are trusted companies, but reviews of their life insurance products are mixed. Many reviews praise the ease of getting an online quote, with the vast majority of seniors appreciating that no medical exams are required. Many customers, however, feel misled about certain plans, claiming they missed details hidden in the fine print. Others complain that the claims process can be quite slow, taking weeks or months to resolve.
Health Tip: Looking to switch to Medicare Advantage? Check out our AARP Medicare Advantage review.
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3. Northwestern Mutual - Best Customer Feedback
What we like most
- Maximum issue age of 85
- Term, whole and universal life insurance
- Available in all 50 states plus Washington D.C.
Overview:Highlights
- Maximum issue age: 85
- Policy types: Term, whole, universal
- Coverage amounts: Up to $1 million for seniors
- Availability: All 50 states plus Washington, D.C.
- Medical exam required: No
Northwestern Mutual operates in all 50 states and Washington, D.C. They’re best known for whole life insurance plans that pay dividends and build cash value, but they also offer term life plans with far higher coverage amounts than most carriers on this list.
There are, however, some caveats to consider. The company provides little information about costs, coverage amounts or plan benefits on their website, so you’ll need to call a representative to get a quote and find out more about your plan options. Adults 65 or over also have access only to certain plans and reduced death benefits compared to younger applicants.
Pros & Cons:Pros About Northwestern Mutual
- Positive reviews from consumers
- High maximum issue age of 85
- Strong financials and excellent reputation
- Whole life plans pay dividends and build cash value
- High coverage amounts
Cons About Northwestern Mutual
- No online quotes
- Adults ages 65 and up can get only 10-year term life
- Higher coverage amounts not available to older seniors
- Certain plans require a medical exam
Summary:Plan Coverage amount Monthly premium (male) Monthly premium (female) Additional benefits Northwestern Mutual Term Life (10 years) $100,000 $78 $52 Can be converted to whole life $250,000 $144 $95 $500,000 $281 $179 $1,000,000 $511 $341 *Plan availability, monthly premiums and coverage limits may vary based on your age, gender, health and location.
Like Mutual of Omaha, Northwestern Mutual doesn’t offer pricing transparency or much information about plan benefits on their website. We had to call a sales representative to learn about their plans. We would have liked to see online quotes and easier access to whole and universal life premiums.
After a little digging, we got quotes for some of the carrier’s term life plans. The downside is that, for those who are 65 or older, the only available term life span is 10 years. But the coverage amounts are far higher than Fidelity Life, AARP and Mutual of Omaha.
» You Might Like: Senior Discounts
Northwestern Mutual reduces the maximum death benefit substantially for older adults looking for a whole life or universal plan. Based on our research, 65-year-olds can expect to pay between $400 and $600 per month for a $100,000 whole or universal life insurance policy with Northwestern Mutual.
Customer Feedback
One of the biggest advantages of Northwestern Mutual is the feedback they get from consumers. Some reviewers have complained about high premiums and poor communication with customer service, but the majority have been happy with their overall experience. According to past and current customers, Northwestern Mutual offers valuable plans, fast claims processing and no misleading fine print. Overall, Northwestern Mutual got the best customer feedback of any carrier on our list.
» Learn About: The Best Term Life Insurance for Seniors
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4. Fidelity Life - Best Policies Designed for Seniors
What we like most
Overview:Highlights
- Maximum issue age: 85
- Policy types: Term, whole, final expense
- Coverage amounts: Up to $100,000 for seniors
- Availability: 48 states (not New York or Wyoming)
- Medical exam required: No
Fidelity Life has been around for over a century, and they are among the best life insurance carriers for older adults. They’re great for older seniors who are just now thinking about life insurance, because they offer a maximum issue age of 85. The premiums are lower and the benefits are higher than carriers like Mutual of Omaha. It’s important to consider that some plans require medical exams, and seniors ages 65 or over cannot access term life plans that exceed 20 years.
» Also Check Out: Best Travel Insurance for Seniors
Pros & Cons:Pros About Fidelity Life
- Term life plans designed for seniors
- High maximum issue age of 85
- Competitive premiums
- Death benefits up to $100,000
- Simple online quotes
Cons About Fidelity Life
- Death benefits are not very high with Senior Term Life plans
- Most seniors can access only 10- to 20-year term life plans
- Some plans require a medical exam, but it can often be delayed
Summary:Plans and Pricing
Below are estimates for Fidelity Life insurance plans for 65-year-old applicants living in Austin, Texas.
Plan Coverage amount Monthly premium (male) Monthly premium (female) Additional benefits RapidDecision Final Expense $10,000 $65.04 $53.04 No medical exams, no waiting periods RapidDecision Life (10 years) $100,000 $74.39 $47.59 No medical exams, no waiting periods RapidDecision Life (15 years) $100,000 $109.62 $67.51 No medical exams RapidDecision Senior Life Term (10 years) $20,000 $106.19 $58.50 No medical exams RapidDecision Senior Life Term (20 years) $20,000 $138.56 $82.35 No medical exams *Plan availability, monthly premiums and coverage limits may vary based on your age, gender, health and location.
Fidelity Life is a solid choice for seniors because they have plans designed just for older adults. The only whole life plans are final expense policies, but Fidelity Life offers various term life plans that are affordable and don’t require medical exams. As the names imply, the RapidDecision plans give you approval in minutes. Applicants just need to answer a few medical questions. That makes Fidelity Life ideal for seniors who may worry that their health would make them ineligible for a good policy.
» Also Check Out: The Best Cheap Life Insurance for Seniors
Customer Feedback
Similar to Northwestern Mutual, Fidelity Life gets positive feedback from most of their policyholders and plan beneficiaries. Most reviews praise the affordable plans for people of all ages, with particular emphasis on the senior-specific offerings. As with many large companies, however, interactions with customer service are mixed. We’ve gotten some feedback that the company acts slowly when making changes to existing policies and is not always quick to resolve issues over the phone.
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5. Corebridge Direct - Best Coverage Amounts
What we like most
Overview:Highlights
- Maximum issue age: 80
- Policy types: Term, whole, universal, final expense
- Coverage amounts: Up to $10 million for seniors
- Availability: 48 states (not New York or Vermont)
- Medical exam required: Yes, in most cases
Corebridge Direct, formerly known as AIG Direct, was founded in 1995. That makes it the newest insurance company on our list. They offer some of the highest coverage amounts of any carrier, though, with some seniors able to get plans with death benefits of up to $10 million. Unlike AARP and Northwestern Mutual, however, Corebridge Direct isn’t available in every state. With the exception of their guaranteed-issue plan, all Corebridge Direct life insurance plans also require a medical exam.
» Calculate Your Costs: Life Insurance Calculator
Pros & Cons:Pros About Corebridge Direct
- Coverage amounts up to $10 million
- Guaranteed-issue plans
- Premiums are fixed for life
- Tax-deferred cash value
Cons About Corebridge Direct
- No online quotes
- Whole and term plans require medical exams
- Very little pricing transparency
- Some seniors may not be eligible for higher coverage amounts
Summary:Plans and Pricing
Unfortunately, Corebridge Direct is not as transparent as AARP or Fidelity Life about their premiums. That can make it challenging to get an estimate unless you go through with an application. Fortunately, we found some information on rates for different term life insurance plans for 50-year-old applicants.
Plan Coverage amount Monthly premium (male) Monthly premium (female) Additional benefits Corebridge Direct Term Life (10 years) $250,000 $28.01 $24.33 May be renewable or convertible Corebridge Direct Term Life (15 years) $250,000 $41.27 $34.02 May be renewable or convertible Corebridge Direct Term Life (20 years) $250,000 $43.51 $35.92 May be renewable or convertible Corebridge Direct Term Life (10 years) $500,000 $45.87 $36.29 May be renewable or convertible Corebridge Direct Term Life (15 years) $500,000 $54.93 $54.92 May be renewable or convertible Corebridge Direct Term Life (20 years) $500,000 $74.39 $60.98 May be renewable or convertible *Plan availability, monthly premiums and coverage limits may vary based on your age, gender, health and location.
The prices above are not for 65-year-old applicants, so premiums would likely be substantially higher. You’ll need to call Corebridge Direct to get a more accurate quote. The company’s website offers plenty of information about their plans, but they don’t offer online quotes. If you want whole, universal or final expense insurance, the company doesn’t provide any pricing info. That makes it difficult to know if Corebridge Direct is the best choice for your wallet without beginning the application process.
» Helpful Guide: A Guide to Finance for Seniors
For seniors who don’t want to take a medical exam, the only option is a guaranteed-issue policy. Corebridge Direct offers plans with maximum death benefits of $25,000.
Did You Know? Most guaranteed-issue life insurance plans have a waiting period of two to three years, during which time your beneficiaries would get only a portion of the total death benefit.1
Customer Feedback
Like Mutual of Omaha, Corebridge Direct gets mixed reviews from customers. Those who praise the company often report positive interactions with friendly, well-informed customer-service agents, but many reviews say the claims process is very time-consuming and convoluted.
Our Methodology
How We Researched the Best Life Insurance for Seniors
We spent over 100 hours researching and comparing the top life insurance plans for seniors. Here is the process we used for every carrier:
- We visited the carrier’s website to evaluate their life insurance policies and how easy it was to choose among products. Some carriers had a lot of information (such as online quotes and plan benefits) available, while others provided only a basic overview of plans.
- We went through the process of getting a quote (when available) and seeing what plans were available in our area.
- We reached out by phone to each carrier and asked questions about their plans, focusing on costs, plan options, coverage amounts, age limits, medical exam requirements and other factors that matter to older adults.
- We compared notes and narrowed down our list to the top life insurance carriers for seniors.
How We Chose the Best Life Insurance for Seniors
We focused our research on key factors, including:
- Issue age: Limiting eligibility by age is a major factor when it comes to life insurance. The carriers on our list have a maximum issue age of at least 80, with some as high as 85.
- Cost: Cost always plays a role when purchasing a plan, and premiums get higher as you age. Premiums vary by plan type, carrier and medical history, but we focused our attention on the carriers that offer the most bang for your buck. We also gave extra points to carriers that offer online quotes.
- Plan availability: Not all carriers offer the type of life insurance you need. The carriers on our list, however, have some form of life insurance available in all or most states.
- Medical exam requirements: Some carriers require medical exams for people to be eligible for whole life insurance. With many, it depends on your age when you apply. Some older adults prefer to avoid the hassle of a medical exam (and the possibility of being excluded from a policy for health reasons), so most carriers on our list do not require medical exams.
- Maximum benefits: The maximum death benefit is often the biggest factor older adults consider, because they want to leave behind sufficient funds for their beneficiaries. Many carriers limit plans for seniors to guaranteed acceptance or final expense plans, which tend to offer lower amounts meant to cover only the policyholder’s funeral and similar expenses. We focused on carriers that offer plans with higher maximum coverage amounts, while still including carriers with more affordable lower-coverage plans.
Why Trust Us?
Our experts have spent hundreds of hours researching life insurance plans, along with other products and services for seniors. We also consult with older adults to learn about their personal experiences with carriers and gain better insights into the advantages and disadvantages of various plans.
Comparing the Best Life Insurance for Seniors
| Starting premiums* | Age limit (whole) | Age limit (term) | Types of plans | Additional benefits | |
|---|---|---|---|---|---|
| Mutual of Omaha | $20 per month | 85 | 80 | Term, whole, universal, final expense | Highly customizable plans |
| AARP-New York Life | $12 per month | 80 | 80 | Term, whole, final expense | Access to AARP resources |
| Northwestern Mutual | $21 per month | 85 | 80 | Term, whole, universal | Excellent customer reviews |
| Fidelity Life | $40 per month | 85 | 85 | Term, whole, final expense | Senior-specific policies |
| Corebridge Direct | $13 per month | 80 | 80 | Term, whole, universal, final expense | Death benefits up to $10 million |
*Premiums for term life insurance plans of 20 years, ranging between $25,000 and $500,000 in coverage (as of 2025). These are the lowest available premiums; actual premiums will vary based on age, location, health and other factors.
Do Seniors Need Life Insurance?
In most cases, the answer is yes. Having a life insurance policy is one of the safest ways to ensure your loved ones will be financially secure when you’re gone. Certain types of life insurance can accrue cash value that you can withdraw if and when the need arises. The withdrawals can even help pay for medical bills that Medicare does not cover or similar living expenses. That doesn’t mean, however, that every older adult should rush out and buy life insurance right now.
Did You Know? Half of U.S. adults don’t have any life insurance2.
Many seniors live on a fixed income from Social Security and do not have the resources to add a life insurance plan. You will need to consider your budget and the cost of available plans when making a decision. Moreover, if you do not plan to leave death benefits to a beneficiary, you probably don’t need a life insurance policy.
Tips for Choosing a Life Insurance Policy
The list above provides some great options, but you may still want to do a bit of research on your own. Here are a few tips to help you choose the best life insurance policy for you:
- Shop around before picking a policy.
- Consult an insurance agent to learn about the fine print.
- Consider the needs of your beneficiaries before choosing how much coverage you need.
- Remember that premiums for most policies increase as you age.
- Every insurance carrier has their own advantages and disadvantages; think about the things that matter the most to you — premiums, customer service, plan variety, etc. — before choosing a plan or carrier.
- Think about how life insurance can work as part of your overall retirement and estate-planning goals.
FYI: According to Aflac, the average monthly cost of a $250,000 life insurance policy is $440 for women and $445 for men.3
Frequently Asked Questions About Life Insurance for Seniors
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Is it too late to get life insurance at 65?
Absolutely not! The premiums will be higher when you are 65 or older, but life insurance can be a great way to ensure your spouse, dependents or other beneficiaries can receive a lump sum when you are gone.
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What is the best life insurance for seniors over 70?
Whole life or final expense life insurance policies are generally the best options for seniors over 70. That said, it all depends on your specific needs. If you want to cover only the cost of your funeral, then you should get a final expense plan. If you want to leave behind a lump sum for your family, then a whole life policy is a better option.
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What is the oldest age to buy life insurance?
Most insurance carriers will not sell a life insurance plan to anyone over the age of 80, but there are a select few that sell to people up to 85 years old.
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Do you need life insurance if you have a pension?
Even if you have a pension, you may still want to get life insurance. Not all pension plans allow spouses or family members to access the funds once you are gone.
Aflac. (2025). Guaranteed Issue Life Insurance.
Corebridge Financial. (2024). Many Americans Know the Basics of Life Insurance, Yet Nearly 60% Either Don’t Have Coverage or Are Unsure If They Do.
Aflac. (2025). Average Term Life Insurance Rates.