Updated: August 14, 2025
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SBLI is the top choice for 70-year-olds seeking life insurance, with an overall MoneyGeek score of 94 out of 100. SBLI offers competitive rates, with sample quotes showing approximately $250 monthly for a $250,000 10-year term policy for qualifying applicants.
Assurity gets a MoneyGeek score of 96 as the best life insurance company for 70-year-old smokers. The company's average monthly rate is $790.
AAA leads in no-medical-exam life insurance for 70-year-olds, with a MoneyGeek score of 85. Its no-exam 10-year term policy costs an average of $296 monthly for $250,000 in coverage.
SBLI is the best insurer overall for 70-year-olds, balancing cost and service quality. While SBLI is our top pick in this age category, it may not be the best choice for everyone. Here are the best life insurance companies by category.
SBLI
| Best Overall
| 94
| $250
| $2,995
|
Assurity
| Best for Smokers | 96
| $790
| $9,491
|
AAA
| Best No-Medical-Exam | 85
| $296
| $3,555
|
*Rates shown are estimates based on sample profiles. Your actual rates may vary based on health, location, and underwriting. All life insurance applications are subject to approval.
SBLI earns the top spot for 70-year-olds seeking affordable, high-quality life insurance. Founded in 1907, the company combines more than a century of experience with strong financial stability and competitive affordability.
SBLI offers term life insurance coverage up to $10 million for applicants aged 18 to 75. A 10-year term life policy for a 70-year-old male nonsmoker averages $250 monthly or $2,995 annually for $250,000 in coverage.
Policyholders can enhance their coverage with several rider options, including terminal illness protection, child term insurance and accidental death benefits. With top marks in affordability and a near-perfect customer experience score, SBLI offers excellent value to seniors prioritizing low premiums and reliable service.
Assurity ranks as the best life insurance provider for 70-year-old smokers, combining competitive rates with strong coverage flexibility and customer satisfaction. The company offers term life coverage up to $10 million, with a 10-year policy for a 70-year-old male smoker, averaging $790 per month or $9,491 annually for $250,000 in coverage.
Assurity receives high marks across MoneyGeek's scoring system. The company supports smokers with multiple term lengths and a suite of riders, including terminal illness, disability income, and critical illness coverage. These options provide adaptable financial protection for smokers with higher risk profiles.
AAA offers the best no-medical-exam life insurance for 70-year-olds, with strong affordability, broad coverage options and accessible underwriting. A 10-year term life policy for a 70-year-old male nonsmoker with $250,000 in coverage averages $296 per month or $3,555 annually. AAA allows up to $500,000 in no-exam coverage and supports applicants up to age 75.
AAA's customer experience rating is moderate, and its NAIC complaint index (2.4) is higher than its competitors. Still, the company excels in cost and policy flexibility, with the highest ratings for affordability and coverage.
Riders such as return of premium, terminal illness access and travel accident protection provide added value. Seniors seeking convenience and quick approval may find AAA's no-exam life insurance an efficient option.
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.
When shopping for life insurance quotes for 70-year-olds, you can save on your premiums by taking these actions:
Several companies offer life insurance for seniors over age 70. Choosing a company with high financial stability ratings can save you money. Stable companies are more likely to process your claim faster and provide the death benefit to your beneficiary sooner.
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.
Shopping around helps you understand how much you'll likely pay in premiums. You can determine the best coverage option for your needs and budget by comparing prices.
Senior-specific tip: Get quotes for different policy types, such as traditional term/whole life if you're healthy, simplified issue if you have minor health concerns, and guaranteed issue if you have serious health conditions.
Most insurers base premiums on unit costs per thousand dollars of coverage, called banded rates. The more coverage you buy, the less you pay per unit. For example, you might pay less for $100,000 in life insurance than $75,000.
Additional discounts for seniors: Some insurers offer discounts for automatic premium payments, annual payment instead of monthly, or bundling with other insurance products.
A renewal guarantee lets you renew once the current term expires. However, this usually means your rate increases each year after the term expires. A policy that also allows conversion gives you more options while the policy is still active and when it expires.
Senior consideration: Most term policies for seniors over 70 are limited to 10-15-year terms, making conversion options particularly valuable.
Certain activities that pose a risk to your health may cause your life insurance rates to increase. For instance, maintaining a healthy weight and quitting smoking can help you save on premiums.
Timeline for changes: Most insurers require 12 months of being smoke-free before considering you a non-smoker. Weight management and blood pressure control can also improve your risk classification.
Gather these documents before applying:
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.
| $100,000 | $221 | $2,654 |
| $150,000 | $300 | $3,607 |
| $200,000 | $374 | $4,492 |
| $250,000 | $364 | $4,367 |
| $300,000 | $429 | $5,148 |
| $350,000 | $461 | $5,533 |
| $400,000 | $546 | $6,558 |
| $450,000 | $573 | $6,882 |
| $500,000 | $647 | $7,764 |
| $550,000 | $546 | $6,563 |
| $600,000 | $780 | $9,366 |
| $650,000 | $637 | $7,657 |
| $700,000 | $926 | $11,117 |
| $750,000 | $917 | $11,003 |
| $800,000 | $1,016 | $12,193 |
| $850,000 | $819 | $9,845 |
| $900,000 | $1,132 | $13,586 |
| $950,000 | $910 | $10,938 |
| $1,000,000 | $1,191 | $14,290 |
| $1,250,000 | $1,466 | $17,602 |
| $1,500,000 | $1,780 | $21,357 |
| $2,000,000 | $2,319 | $27,833 |
| $2,500,000 | $3,491 | $41,894 |
| $3,000,000 | $3,479 | $41,751 |
*Life insurance rates for seniors vary based on health, location and insurer underwriting guidelines. The rates shown represent sample quotes and shouldn't be considered guaranteed pricing.
Smoking is a significant factor that insurance companies consider when determining policy rates due to the associated health risks. Smokers pay higher premiums than nonsmokers. The table below shows the average rates for 70-year-olds who smoke.
| $100,000 | $700 | $8,404 |
| $150,000 | $967 | $11,613 |
| $200,000 | $1,198 | $14,382 |
| $250,000 | $1,182 | $14,181 |
| $300,000 | $1,364 | $16,375 |
| $350,000 | $1,856 | $22,287 |
| $400,000 | $1,735 | $20,829 |
| $450,000 | $2,302 | $27,643 |
| $500,000 | $2,049 | $24,587 |
| $550,000 | $1,701 | $20,435 |
| $600,000 | $2,472 | $29,665 |
| $650,000 | $1,984 | $23,841 |
| $700,000 | $3,068 | $36,852 |
| $750,000 | $2,959 | $35,515 |
| $800,000 | $3,215 | $38,593 |
| $850,000 | $2,551 | $30,652 |
| $900,000 | $3,581 | $42,977 |
| $950,000 | $2,835 | $34,058 |
| $1,000,000 | $3,774 | $45,301 |
| $1,250,000 | $6,876 | $82,560 |
| $1,500,000 | $5,646 | $67,762 |
| $2,000,000 | $7,191 | $86,303 |
| $2,500,000 | $9,892 | $118,709 |
| $3,000,000 | $10,789 | $129,490 |
*Life insurance rates for seniors vary based on health, location and insurer underwriting guidelines. The rates shown represent sample quotes and shouldn't be considered guaranteed pricing.
When purchasing life insurance at 70, you might need to complete a medical exam to be approved. Some insurers offer policies without an exam, but the rate could be higher, as you'd be labeled high-risk, even if you're not.
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.
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Rates updated:
Sep 02, 2025
Life insurance needs assessment for seniors requires a different approach than for younger buyers. Your coverage amount should match your specific 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.
Many people in their 70s wonder whether life insurance still makes sense for their situation. Life insurance for seniors over 70 isn't universally necessary, but it can provide 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.
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:
Life insurance is especially valuable when your existing savings can't cover these costs.
Many 70-year-olds don't need new life insurance policies. You can likely avoid the expense if:
If you're financially secure with independent children, premium money might generate better returns elsewhere.
No-medical-exam life insurance is available for seniors who can't qualify for traditional coverage due to health concerns.
MoneyGeek analyzed and ranked life insurance quotes and policy details to help you find the best life insurance companies for 70-year-olds. SBLI, AAA and Assurity are the best-rated providers for 70-year-olds. We also explored average costs from major companies and provided shopping tips for the best life insurance policy. Compare offers and quotes from multiple insurers to find the best deal.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
Life insurance companies consider various factors when determining their rates. We answered frequently asked questions about life insurance options for 70-year-olds to help you compare rates.
You can buy life insurance in your 70s. Insurance companies set different age limits for eligibility to get various types of life insurance. You may buy term or permanent life insurance based on your needs. Depending on the policy and carrier, you may also have the option to convert temporary insurance to permanent insurance.
Life insurance at age 70 costs more than coverage for younger people. Not all 70-year-olds require extensive coverage, so a final expense or whole life policy may be the best choice. To secure the best rates, consider comparing quotes from different providers.
The best life insurance company for a 70-year-old varies based on individual needs and circumstances. SBLI is top-rated overall based on MoneyGeek's analysis. AAA ranks first in no-medical-exam policies, while Assurity is the best for seniors over 70 who smoke.
Life insurance costs for 70-year-olds vary significantly based on insurer, coverage amount and health rating.
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 will be higher than traditional policies, but coverage is available.
Conditions like recent heart attacks, active cancer treatment, severe COPD or advanced neurological disorders can make traditional coverage difficult. However, guaranteed issue policies don't consider health conditions, though they typically offer lower coverage amounts and have waiting periods.
Not necessarily. Many insurers offer no-medical-exam policies for seniors. Simplified issue policies require health questions but skip the exam, while guaranteed issue policies require no health information at all. Traditional policies with medical exams may offer better rates if you're in good health.
Most insurers require waiting periods after major health events. For heart attacks or strokes, you typically 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.
Simplified issue life insurance requires answering health questions but no medical exam, typically offering $5,000 to $150,000 in coverage with moderate premiums. Guaranteed issue life insurance requires no health questions, guarantees acceptance, but usually limits coverage to $2,000 to $25,000 with higher premiums and waiting periods before full benefits activate.
Final expense insurance is a type of whole life insurance designed to cover end-of-life costs like funeral expenses, burial costs, and small debts. Coverage typically ranges from $5,000 to $25,000, making it affordable for seniors on fixed incomes. Most final expense policies are guaranteed issue or simplified issue.
At 70, permanent life insurance (whole or universal life) is often preferred because it doesn't expire and builds cash value. Term life insurance for seniors is typically limited to 10- to 15-year terms and may be difficult to renew. Consider permanent coverage if you want lifelong protection or guaranteed issue if health is a concern.
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.
Many term life policies include conversion options that allow you to switch to permanent coverage without a medical exam. You typically 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.
Life insurance death benefits are generally income tax-free to beneficiaries, but may be included in your taxable estate if you own the policy. For seniors with large estates, consider transferring ownership to an irrevocable life insurance trust to remove it from your taxable estate, though this requires advance planning.
Finding affordable life insurance after 70 feels challenging when many insurers either decline coverage or quote prices that seem out of reach. We designed our research to focus on companies that welcome senior applicants and offer realistic rates for this age group.
We gathered 1,488 life insurance quotes from insurers with proven track records of insuring seniors, then analyzed each company across five key areas for seniors shopping for coverage.
How We Scored Each Company
Each insurer earned up to five points in five categories, creating an overall MoneyGeek score out of 100:
Our Analysis Process
Sample Customer Profile
All quotes use this standard 70-year-old profile unless noted otherwise:
We adjusted age, gender, health ratings, and locations to capture rate variations across different senior profiles. We also collected quotes for various term lengths and coverage amounts to identify the best options for different financial situations.
Why This Approach Works
Our methodology reflects real-world shopping for seniors. We focused on companies that actively write policies for applicants over 70, used health and demographic factors typical for this age group, and weighted affordability heavily since fixed incomes make cost a primary concern.
The result: rankings that help 70-year-olds find coverage they can actually qualify for and afford.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like 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!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
