Protective earns the highest rating for best life insurance for 70-year-olds, balancing cost and service quality. While Protective offers the best whole and universal policies, it may not be the best choice for everyone. Here are the best life insurance companies by category.
Best Life Insurance for 70-Year-Olds and Over in 2025
Protective, SBLI, Mutual of Omaha and Guardian Life offer the best life insurance for seniors over 70. Your best choice depends on your needs.
Find out if you're overpaying for life insurance below.
Select age group
Updated: January 9, 2026
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Key Takeaways
Protective offers the best permanent life insurance for 70-year-olds. Average monthly rates for a $250,000 universal policy are $541 for women and $623 for men, while whole life plans cost an average of $1,574 for women and $1,807 for men.
SBLIÂ is the best for 70-year-olds seeking term life insurance. Sample quotes show approximately $177 for women and $250 for men monthly for a $250,000 10-year term policy.
Mutual of Omaha is the best life insurance company for 70-year-olds seeking guaranteed acceptance. The company's average monthly rate for a $10,000 policy is $64 for women and $87 for men.
Guardian Life provides the best customer experience, with a MoneyGeek score of 4.3. Its 10-year term policy costs an average of $235 monthly for women and $375 for men.
What Is the Best Life Insurance for a 70-Year-Old?
Protective Insurance | Permanent Coverage | 5 | Universal: $541 (women) $623 (men) Whole: $1,574 (women) $1,807 (men) | Universal: $6,492 (women) $7,506 (men) Whole: $18,892 (women) $21,692 (men) |
SBLI | Term Coverage | 4.7 | $177 (women) $250 (men) | $2,128 (women) $2,995 (men) |
Mutual of Omaha | Guaranteed Acceptance | 4.6 | $64 (women) $87 (men) | $767 (women) $1,040 (men) |
Guardian Life | Customer Experience | 4.3 | $235 (women) $374 (men) | $2,817 (women) $4,490 (men) |
*Rates are estimates based on sample profiles. The coverage amount used for comparison purposes is $250,000, except for guaranteed acceptance policies, which have a coverage amount of $10,000. Your actual rates may vary based on health, location, and underwriting. All life insurance applications are subject to approval.
Best Permanent Life Insurance: Protective
Protective
MoneyGeek Rating
5/ 5
5/5Affordability
5/5Customer Experience
5/5Coverage Points
Average Monthly Cost
Universal: $541 (women); $623 (men) Whole: $1,574 (women); $1,807 (men)Based on average quotes for 70-year-old nonsmokers with $250,000 coverage amount.Average Annual Cost
Universal: $6,492 (women); $7,506 (men) Whole: $18,892 (women); $21,692 (men)Based on average quotes for 70-year-old nonsmokers with $250,000 coverage amount.
Best Term Life Insurance: SBLI
SBLI
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.8/5Customer Experience
3.7/5Coverage Points
Average Monthly Cost
$177 (women); $250 (men)Based on average quotes for 70-year-old nonsmokers with a 10-year term policy and $250,000 coverage amount.Average Annual Cost
$2,128 (women); $2,995 (men)Based on average quotes for 70-year-old nonsmokers with a 10-year term policy and $250,000 coverage amount.
Best Guaranteed Acceptance: Mutual of Omaha
Mutual of Omaha
MoneyGeek Rating
4.6/ 5
4.7/5Affordability
4.4/5Customer Experience
4.8/5Coverage Points
Average Monthly Cost
$64 (women); $87 (men)Based on average quotes for 70-year-old nonsmokers with $10,000 coverage amount.Average Annual Cost
$767 (women); $1,040 (men)Based on average quotes for 70-year-old nonsmokers with $10,000 coverage amount.
Best Customer Experience: Guardian Life
Guardian Life
MoneyGeek Rating
4.3/ 5
4/5Affordability
5/5Customer Experience
3.9/5Coverage Points
Average Monthly Cost
$235 (women); $374 (men)Based on average quotes for 70-year-old nonsmokers with a 10-year term policy and $250,000 coverage amount.Average Annual Cost
$2,817 (women); $4,490 (men)Based on average quotes for 70-year-old nonsmokers with a 10-year term policy and $250,000 coverage amount.
Life Insurance for Seniors Over 70: Buying Guide
Shopping for life insurance in your 70s brings unique challenges and concerns. Coverage is available, and with the right approach, you can find affordable options that provide meaningful financial protection for your loved ones. This buying guide helps you find the best rates.
How to Find the Best Life Insurance for 70-Year-Olds
When shopping for life insurance quotes for 70-year-olds, you can save on your premiums by taking these actions:
- 1Purchase insurance from financially sound insurers
Several companies offer life insurance for seniors over age 70. Companies with high financial stability ratings process claims faster and provide death benefits to beneficiaries sooner, which can save you money.
How to verify: Check AM Best ratings (A- or higher recommended) and confirm the company is licensed in your state through your state insurance department.
- 2Compare prices and product offerings
Shopping around shows you what you'll pay in premiums and helps you find the best coverage for your needs and budget.
Get quotes for different policy types: traditional term or whole life if you're healthy, simplified issue if you have minor health concerns, and guaranteed issue if you have serious health conditions.
- 3Look for premium discounts
Most insurers base premiums on banded rates - unit costs per thousand dollars of coverage. The more coverage you buy, the less you pay per unit. You might pay less for $100,000 in coverage than $75,000.
Some insurers offer discounts for automatic premium payments, annual payment instead of monthly, or bundling with other insurance products.
- 4Get renewal and conversion options
A renewal guarantee lets you renew once the current term expires, though your rate increases each year afterward. Policies that allow conversion give you more options while the policy is active and when it expires.
Most term policies for seniors over 70 are limited to 10 to 15 years, making conversion options valuable.
- 5Consider lifestyle changes
Smoking or obesity increases rates. Maintaining a healthy weight and quitting smoking can lower your premiums.
Most insurers require 12 months of being smoke-free before considering you a nonsmoker. Weight management and blood pressure control can also improve your risk classification.
LIFE INSURANCE FOR PEOPLE OVER 70: DOCUMENTATION YOU'LL NEED
Gather these documents before applying:
- Personal identification: Driver's license, Social Security card
- Financial records: Tax returns, Social Security statements, pension documentation
- Medical information: Current medication list, recent medical procedures, doctor contact information
- Beneficiary details: Full names, addresses, and Social Security numbers
How Much Is Life Insurance for a 70-Year-Old?
Premiums for life insurance policies for seniors aged 70 vary significantly based on coverage amount, term length, applicant health and insurance company. This table shows life insurance quotes for 70-year-olds from leading insurance providers.
Data filtered by:
10 years
Female
| $100,000 | $169 | $2,023 |
| $250,000 | $278 | $3,334 |
| $500,000 | $479 | $5,746 |
| $750,000 | $692 | $8,297 |
| $1,000,000 | $882 | $10,579 |
| $1,500,000 | $1,303 | $15,626 |
| $2,000,000 | $1,698 | $20,369 |
| $2,500,000 | $2,127 | $25,515 |
| $3,000,000 | $2,529 | $30,341 |
*Life insurance rates for seniors vary based on health and insurer underwriting guidelines. The rates shown represent sample quotes and shouldn't be considered guaranteed pricing.
Life Insurance Rates for Seniors Over 70 Who Smoke
Insurance companies charge higher premiums for smokers because of increased health risks. The table below shows the average rates for 70-year-olds who smoke.
Data filtered by:
10 years
Female
| $100,000 | $537 | $6,439 |
| $250,000 | $887 | $10,643 |
| $500,000 | $1,520 | $18,238 |
| $750,000 | $2,196 | $26,341 |
| $1,000,000 | $2,802 | $33,614 |
| $1,500,000 | $4,137 | $49,633 |
| $2,000,000 | $5,244 | $62,918 |
| $2,500,000 | $6,755 | $81,029 |
| $3,000,000 | $7,809 | $93,689 |
*Life insurance rates for seniors vary based on health and insurer underwriting guidelines. The rates shown represent sample quotes and shouldn't be considered guaranteed pricing.
MEDICAL EXAMS AND LIFE INSURANCE AT 70
Most insurers require a medical exam when you apply for life insurance at 70. Some companies offer no-exam policies, but rates are higher because they classify all applicants as high-risk without health information.
Compare Life Insurance Quotes for Seniors Over 70
Life insurance costs vary widely among insurance providers. Compare personalized quotes from multiple carriers to get the best rates for your needs. The life insurance quote tool below provides accurate estimates based on your coverage needs.
Life Insurance Quotes for 70-Year-Olds
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Rates updated:
Jan 13, 2026
How Much Life Insurance Do You Need at 70?
Seniors need a different approach to calculating life insurance coverage than younger buyers. Your coverage amount should match your financial obligations and goals rather than following traditional income-replacement formulas that don't apply to most 70-year-olds.
Seniors don't need complex formulas to calculate life insurance needs. At 70, your coverage should focus on specific expenses rather than income replacement. Calculate what you need by adding four categories: final expenses, outstanding debts your family would inherit, income replacement for a surviving spouse, and inheritance goals.
The right coverage amount depends on your budget as much as your needs.
Use the coverage calculator below to get an estimated amount, then review the rate tables to find affordable options that match your needs.
Should 70-Year-Olds Buy Life Insurance?
Life insurance for seniors over 70 isn't necessary for everyone, but it provides valuable financial protection in specific situations. Your decision should be based on your current debts, dependents and financial goals rather than age alone. Know when coverage makes sense to avoid paying for unnecessary protection.
When Coverage Makes Financial Sense
Seniors who still carry financial obligations or want to protect loved ones often benefit from life insurance at 70. Key situations where coverage proves worthwhile include:
- Outstanding mortgage or loan balances that would burden your spouse
- Medical debt or credit card obligations your family would inherit
- Funeral and burial costs, ranging from $8,000 to $15,000
- Supporting a spouse who depends on your Social Security or pension income
- Creating an inheritance when other assets are tied up or insufficient
Life insurance is especially valuable when your existing savings can't cover these costs.
When You Can Skip Coverage
Many 70-year-olds don't need new life insurance policies. You can likely avoid the expense if:
- Your mortgage and major debts are paid off
- You have sufficient savings to cover final expenses
- No one depends on your income for daily living costs
- You already own adequate life insurance coverage
- You'd rather invest premium money in other financial vehicles
If you're financially secure with independent children, premium money might generate better returns elsewhere.
LIFE INSURANCE OPTIONS FOR SENIORS WITH HEALTH ISSUES
No-medical-exam life insurance is available for seniors who can't qualify for traditional coverage due to health concerns.
- Simplified issue life insurance policies require health questions but skip medical exams. You answer questions about your medical history, current medications and recent treatments. These work best for seniors with stable, well-managed conditions.
- Guaranteed issue life insurance, or guaranteed acceptance life insurance, accepts all applicants within age limits regardless of health status. No health questions or medical information required.
Best Life Insurance in Your 70s: Bottom Line
MoneyGeek analyzed life insurance quotes and policy details from major insurers to identify the best life insurance companies for 70-year-olds. Protective, SBLI, Mutual of Omaha and Guardian Life earned top ratings for cost, customer service and coverage options. Compare offers from multiple insurers to find the best policy for your needs.
Compare Life Insurance Rates
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
Life Insurance at 70: FAQ
Life insurance companies consider your age, health, coverage amount and policy type when determining rates. Here are common questions about life insurance for 70-year-olds.
Can I get life insurance at 70 with pre-existing conditions?
Yes, you can get life insurance with pre-existing conditions through simplified issue or guaranteed issue policies. Simplified issue requires health questions but no medical exam, while guaranteed issue accepts everyone within age limits regardless of health status. Premiums run higher than traditional policies, but coverage is available.
What health conditions make it difficult to get life insurance at 70?
Recent heart attacks, active cancer treatment, severe COPD or advanced neurological disorders make traditional coverage difficult. Guaranteed issue policies don't consider health conditions, though they offer lower coverage amounts and have waiting periods.
How long after a major health event can I apply for life insurance?
Most insurers require waiting periods after major health events. For heart attacks or strokes, you'll need to wait six to 12 months. For cancer, most insurers prefer two to five years after treatment completion. Guaranteed issue policies have no waiting periods based on health conditions.
Should I choose term or permanent life insurance at 70?
Permanent life insurance (whole or universal life) works better at 70 because it doesn't expire and builds cash value. Term life insurance for seniors is limited to 10 to 15 years and is harder to renew. Choose permanent coverage if you want lifelong protection or guaranteed issue if health is a concern.
What happens when my term life insurance expires at 70?
When term life insurance expires, your coverage ends unless you have renewal or conversion options. Some policies allow annual renewal with increasing premiums, while others offer conversion to permanent coverage. If neither option is available and you still need coverage, you'll need to apply for a new policy.
Can I convert my existing term life insurance to permanent coverage?
Many term life policies include conversion options that let you switch to permanent coverage without a medical exam. You must convert before age 65 to 70 (varies by insurer) and within specific time windows. The conversion uses your original health rating, which can be valuable if your health has declined.
How We Ranked Companies
Most insurers either decline coverage for 70-year-olds or quote premiums that exceed many retirees' budgets. We collected 248,399 quotes from companies that actively insure seniors and compared them across factors that matter most when you're on a fixed income.
Our scoring system weights three areas:
- Affordability (55%): Premiums jump sharply after 70, making cost the primary factor
- Customer experience (30%): How companies handle claims, maintain financial stability and serve older policyholders
- Coverage options (15%): Range of term, permanent and no-exam policies available to applicants over 70
What we analyzed:
We collected online quotes from major insurers using consistent 70-year-old profiles for fair price comparisons. Financial strength came from AM Best ratings and years in business, both important for policies that may pay out decades from now. Customer experience data came from the National Association of Insurance Commissioners complaint records, J.D. Power ratings and online reviews.
Sample profile details:
All quotes use a standard 70-year-old male profile (5'9", 160 pounds, average health, non-smoker) unless otherwise noted. We adjusted age, gender, health status and tobacco use to capture rate differences across senior demographics. Quotes include multiple coverage amounts and both term and permanent policies.
Why it matters:
This approach identifies companies that actually approve applications from 70-year-olds at rates most seniors can afford. We weighted affordability at 55% because cost drives coverage decisions when you're living on Social Security and retirement savings. The result: rankings showing which insurers offer the best combination of approval likelihood, reasonable premiums and reliable claim payment for seniors over 70.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.