Explore the best term life insurance for seniors in 2025 based on MoneyGeek's analysis of top-rated policies, rates, and coverage options.
Find out if you're overpaying for life insurance below.
Updated: November 7, 2025
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The best term life insurance companies balance affordability, flexible term lengths and strong financial ratings. Compare offers from different insurers to find the right policy for your family's needs.
Based on MoneyGeek's analysis, Nationwide, Lincoln Financial, AAA, Assurity, Pacific Life and Guardian Life offer some of the best term life insurance for seniors.
Eligibility for term life insurance narrows with age, but most companies offer coverage to seniors up to age 75. Seniors aged 60 to 65 access longer terms than those over 70.
No-exam term life insurance policies provide faster approval for seniors, but they often have lower coverage caps and higher premiums compared to traditional underwriting. Availability, maximum coverage amounts and eligibility requirements depend on insurers.
Nationwide is MoneyGeek's pick for the best overall term life insurance company for seniors. The best provider varies depending on your age, health history, lifestyle and coverage needs. Some companies excel at customer service, while others provide greater flexibility in coverage options.
The table below shows the best companies for different senior profiles.
Overall | Nationwide | 4.7 | $138 | $1,648 |
Affordability | Lincoln Financial | 4.5 | $118 | $1,415 |
No-Exam | AAA | 5 | $632 | $7,591 |
Smokers | Assurity | 4.8 | $1,402 | $16,839 |
Coverage Options | Pacific Life | 4.5 | $579 | $6,954 |
Customer Experience | Guardian Life | 4.3 | $658 | $7,897 |
Rates above are based on our sample profiles (age range 50-85 for the best overall and affordability; 70-year-old for specific categories). Your rates will depend on your profile, lifestyle, health, coverage level and term length.
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Best Cheap
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Best No-Exam
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Best for Smokers
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Best Coverage Options
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Best Customer Experience
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Choosing the best term life insurance for seniors involves comparing premiums, eligibility, coverage duration and conversion rights. The following sections outline what seniors need to know before applying, with details on costs, application steps and policy features.
Compare quotes, review eligibility requirements and decide between exam and no-exam options before applying. The following steps help you choose the right policy for your needs and budget.
Gather quotes online or from licensed agents. Many companies offer online quote tools for term policies.
Review offers from several companies side by side. Look beyond premiums and check term lengths, riders and conversion options.
Each insurer has different underwriting criteria. Before applying, check age limits, coverage caps and health requirements. Don't waste time on companies that won't issue policies at your age or with your medical history.
Traditional underwriting includes a medical exam, which can lower premiums for healthy applicants. No-exam term life insurance for seniors offers quick approval and works well if you have pre-existing conditions, though coverage amounts are smaller.
Answer health questionnaires honestly and have medical records ready if requested. Inaccurate information can delay approval or result in denial. Preparing in advance speeds up the process.
Review your policy documents to confirm the term length, riders, coverage amount and life insurance beneficiary details. Sign the documents and pay the first premium to activate coverage. Pay your premiums on time to keep your policy active.
Term life insurance premiums for seniors depend on age, health, gender, coverage amount and policy length. The table below highlights average quotes for seniors of different ages with different coverage amounts and term lengths.
| 50 | $87 | $1,045 |
| 55 | $139 | $1,669 |
| 60 | $247 | $2,961 |
| 65 | $441 | $5,297 |
| 70 | $667 | $8,004 |
Rates above are based on our sample profile. Your rates will depend on your profile, coverage needs and companies' underwriting reviews.
Several factors affect life insurance premiums. For accurate estimates, compare personalized quotes from multiple companies. Use MoneyGeek’s life insurance calculator to compare rates tailored to your age and coverage needs.
We’ll give you a suggested amount of cover to buy in just 3 easy steps. — it's free, no personal information required, no spam.
Rates updated:
Nov 12, 2025
Term life insurance pays a death benefit if you pass away during the policy's term. Policies come in 10, 15 or 20-year lengths. Most insurers limit new term policies to applicants between ages 70 and 75.
Premiums rise with age, and your health history affects approval. Chronic conditions or smoking will increase your rates.
Rates stay level during the term but increase if you renew.
For seniors, term life options narrow with age, but meaningful coverage is still available.
Eligibility requirements and term lengths vary by state and individual health factors. Not all applicants will qualify for coverage.
Conversion and renewability affect your long-term coverage options. Conversion allows policyholders to convert from term to permanent coverage without a medical exam, often required by age 65 or 70. This protects your eligibility if health conditions worsen later. Renewability allows extending coverage after the initial term ends, though premiums rise.
While many insurers include one or both, not all policies do. Check each policy's terms before applying to see if these options are included.
Some insurers offer no-exam life insurance for seniors. Applicants qualify through health questionnaires and prescription checks instead of medical exams. These policies offer faster approval for seniors who prefer convenience or have medical conditions that complicate traditional underwriting.
Premiums for no-exam term life insurance policies can be higher than fully underwritten policies, and coverage amounts are usually capped at lower levels. Weigh the trade-off between ease of access and cost.
Riders add flexibility and coverage to a standard term policy. Common options include the following.
Rider availability and terms vary by state, so check with each insurer.
If you can't qualify for term coverage or want lifetime protection, consider these alternatives: permanent coverage, simplified approvals or limited accidental death protection.
Guaranteed acceptance life insurance requires no medical exams or health questions and is available to all seniors. Expect coverage between $2,000 and $25,000, with most policies including a waiting period before full benefits kick in. Premiums run higher relative to the benefit, but you'll get coverage even if other insurers have declined you.
These policies are whole life insurance, providing permanent financial protection.
Guaranteed universal life offers permanent protection with fixed premiums and a guaranteed death benefit. Unlike traditional universal life, it's not focused on cash value growth, which helps keep costs more affordable for seniors. Coverage can often be issued well into the 70s.
Accidental death insurance pays benefits only if the insured dies due to a qualifying accident. It's generally low-cost and easy to obtain, even for seniors with health issues.
This type of insurance doesn't cover deaths from illness or natural causes, so it works best as a supplemental policy rather than a primary source of coverage.
Traditional permanent policies like standard whole life or universal life cost more than these alternatives.
The best term life insurance for seniors depends on your health, age and policy goals. Our research shows that Nationwide, Lincoln Financial, AAA, Assurity, Pacific Life, and Guardian Life offer some of the best options. Each company offers strengths in affordability, no-exam access, smoker coverage, options and customer service.
Compare offers from multiple insurers and review policy features to find the best term life insurance for your specific needs.
Below are answers to some of the most frequently asked questions about term life insurance for seniors.
The best term life insurance for seniors depends on age, health and coverage needs. Nationwide, Lincoln Financial, AAA, Assurity, Pacific Life and Guardian Life are top picks based on MoneyGeek's analysis of quotes and companies in 2025.
Most insurers stop offering term life insurance for seniors after age 75. Some limit 20-year terms to age 65 or 70, while 10 or 15-year terms may remain available into the early 70s.
Term life works well for temporary needs, such as covering debts or providing income replacement for a set period. Permanent life insurance, including guaranteed acceptance and guaranteed universal, suits those wanting lifetime financial protection.
Yes. Some of the best term life insurance companies for seniors offer no-exam policies. Coverage limits are often lower than traditional term policies, but you can get quick approval and simplified applications.
Seniors can typically buy term life insurance until age 70 to 75, depending on the insurer. Available term lengths shorten with age: 20-year terms are often limited to those under 65, while 10- or 15-year terms are usually offered into the early 70s.
The average cost varies by age. For a 60-year-old man, a 10-year $500,000 policy costs an average of $247 per month. The same policy costs an average of $667 per month for a 70-year-old.
The best term life insurance rates for seniors are typically lowest between ages 60 and 65. Premiums rise sharply in the 70s, with costs varying based on gender, health status and coverage amount.
Shopping for term life insurance after 50 means thinking about legacy planning, final expenses and protecting a spouse's retirement income rather than replacing decades of future earnings. Our research focuses on what matters most to seniors: affordable premiums for fixed incomes, straightforward applications and financially stable companies.
Research Approach
We evaluated each company across three categories, weighted by importance to senior shoppers:
Each company earned up to 5 points per category. Scores reflect:
Sample Profile
We gathered quotes using a standard profile to find the best overall and most affordable companies:
We modified the profile by age, gender, height, weight, tobacco use and health rating to determine the best companies for different senior needs.
For specific categories, we used this profile:
We collected quotes with varying term lengths and coverage amounts for different estate planning and family protection needs.
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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
