Best Term Life Insurance for Seniors in 2026

Legal & General ranks as the top overall provider with a 4.8 MoneyGeek score, offering a balanced mix of pricing, coverage flexibility and financial strength. For a $250,000, 10-year term policy, women age 65 pay about $154 per month, while men pay around $221. 

The company holds an A rating from A.M. Best and reports a NAIC complaint index of 0.35, which is lower than the industry average. Most customer feedback trends positive, with 85% of policyholders reporting a favorable experience.

Coverage amounts reach up to $10 million, with term lengths ranging from 10 to 40 years for applicants ages 20 to 75. Policies may be renewed through age 99, which exceeds many competitors’ renewal limits.

Legal & General includes an accelerated death benefit at no added cost and offers accelerated underwriting to shorten the approval timeline. With five rider options available, policyholders can tailor coverage for needs such as disability income or critical illness protection.

• A.M. Best rating: A
• NAIC complaint index: 0.35
• J.D. Power score: N/A
• Customer sentiment: 85% positive, 15% negative

• Max coverage: $10 million
• Medical exam required: Yes
• Terms available: 10 to 40 years
• Ages supported: 20 to 75
• Riders and options: Accelerated death benefit rider (free for terminal illness), return of premium rider (20- and 30-year terms only), accident only disability income rider, critical illness rider, disability income rider, level term rider

Pacific Life ranks as the best term life insurance option for seniors with health concerns. At age 65, monthly premiums average about $152 for women and $201 for men on a $250,000, 10-year term policy. The company carries an A rating from A.M. Best and posts a NAIC complaint index of 0.08, indicating fewer customer complaints than most competitors. 

Reviews across major platforms lean positive, with 72% of customers reporting favorable experiences. Pacific Life also places seventh in J.D. Power’s customer satisfaction rankings.

One feature that sets Pacific Life apart is its Charitable Benefit Rider, which adds 1% to the policy’s death benefit, up to $100,000, paid directly to a designated charity without reducing the amount received by beneficiaries. 

Although medical exams are required, underwriting reviews overall health rather than isolating individual conditions. Coverage amounts can exceed $10 million for applicants ages 18 to 75, with term lengths from 10 to 30 years, offering protection through key retirement planning years.

• A.M. Best rating: A
• NAIC complaint index: 0.08
• J.D. Power score: 657 (seventh)
• Customer sentiment: 72% positive, 28% negative

• Max coverage: $10 million+
• Medical exam required: Yes
• Terms available: 10 to 30 years
• Ages supported: 18 to 75
• Riders and options: Charitable benefit rider (exclusive), waiver of premium, guaranteed renewability

Assurity takes our top spot for senior smokers with a 4.8 MoneyGeek score and the most competitive pricing for tobacco users. Nonsmoking seniors age 65 pay just $152 monthly for women and $201 for men on a $250,000 10-year term.

Smokers pay $489 for women and $574 for men at the same term and coverage level. This may seem high, but it’s the cheapest for smokers in this age group that we reviewed. 

Assurity offers smokers meaningful flexibility through age-based underwriting. If you're under 65, you can obtain up to $500,000 in coverage without a medical exam. After 65, medical exams are required, but coverage remains available up to $10 million. Plus, their unique stacking rider lets you add 10-, 15- or 20-year coverage layers as your life circumstances change. 

That’s useful when you want to increase protection without replacing your entire policy. Assurity also includes accelerated death benefits automatically for terminal illness and extends conversion options to age 70.

• A.M. Best rating: A-
• NAIC complaint index: 0.638
• J.D. Power score: N/A
• Customer sentiment: 85% positive, 15% negative

• Max coverage: $10 million with medical exam, or $500,000 without medical exam (up to age 65)
• Medical exam required: Yes (after age 65)
• Terms available: 10 years (18 to 75), 15 years (18 to 70), 20 years (18 to 65)
• Ages supported: 18 to 75
• Riders and options: Accelerated death benefit rider (automatic for terminal illness), child rider, stacking rider, guaranteed insurability rider, conversion options to age 70

Guardian Life leads in customer experience, earning a 4.7 overall MoneyGeek score backed by industry-leading satisfaction metrics and financial strength. Premiums run $159 monthly for women and $248 for men at age 65 on a $250,000 10-year term. 

The company's A++ rating from A.M. Best is the highest possible financial strength rating, ensuring financial protection for your family. Guardian also ranks second overall in J.D. Power's customer satisfaction study with a score of 685 and maintains the lowest NAIC complaint index among reviewed insurers at 0.08. Plus, an impressive 90% of customers report positive experiences in review forums, with only 10% expressing concerns.

Guardian Life's service-first approach extends beyond ratings to practical policy features. You can convert your term policy to permanent coverage all the way to age 71, which is one year longer than most competitors allow. Guardian also offers six different riders including accelerated death benefits, waiver of premium for disability, accidental death benefits and guaranteed insurability options.

• A.M. Best rating: A++
• NAIC complaint index: 0.08
• J.D. Power score: 685 (second)
• Customer sentiment: 90% positive, 10% negative

• Max coverage: $5 million
• Medical exam required: Yes
• Terms available: 10 to 30 years
• Ages supported: 18 to 75
• Riders and options: Child term rider (convertible to five times the original amount), accelerated death benefit, waiver of premium, accidental death benefit, guaranteed insurability, conversion options to age 71

Protective offers term life insurance for seniors up to age 80, which extends beyond the age limits set by many competitors. At age 65, monthly premiums average about $157 for women and $221 for men on a $250,000, 10-year term policy. The company holds an A+ rating from A.M. Best, reflecting strong financial standing. 

Customer feedback is more mixed compared to top-ranked providers, with 82% of reviews trending positive and 18% expressing concerns. Its extended eligibility range makes Protective a practical option for older applicants who may have fewer choices elsewhere. Coverage is available from age 20 through age 80, with term lengths from 10 to 40 years.

Policies can exceed $10 million in coverage and include an accelerated death benefit for terminal illness at no added cost. Optional riders allow policyholders to adjust coverage with features such as waiver of premium, accidental death benefits and guaranteed insurability. Protective also offers a conversion option that allows term policies to shift to permanent coverage if needs change later.

• A.M. Best rating: A+
• NAIC complaint index: N/A
• J.D. Power score: 653 (ninth)
• Customer sentiment: 82% positive, 18% negative

• Max coverage: $10 million+
• Medical exam required: Yes
• Terms available: 10 to 40 years
• Ages supported: 20 to 80
• Riders and options: Accelerated death benefit (included at no charge), child term rider, waiver of premium, accidental death benefit, guaranteed insurability, conversion options

SBLI is the most affordable term life insurance for seniors. Seniors age 65 pay just $135 monthly for women and $191 for men on a $250,000 10-year term, which is roughly 12% to 16% less than the next closest competitor. 

The lower cost comes with some trade-offs in customer service. While customer sentiment leans positive across review forums, SBLI's NAIC complaint index of 1.08 sits above the industry average, meaning that some customers report service issues.

SBLI's value proposition focuses squarely on keeping premiums low while maintaining solid coverage options. The insurer offers more than $10 million in maximum coverage with terms from 10 to 30 years for applicants ages 18 to 75. All applicants require medical exams, but the savings make up for it for healthy seniors. 

You can also customize your plan with standard riders including accelerated death benefits for terminal illness, disability waiver of premium, accidental death benefits and conversion options to permanent coverage.

• A.M. Best rating: A
• NAIC complaint index: 1.08
• J.D. Power score: N/A
• Customer sentiment: 80% positive, 20% negative

• Max coverage: $10 million+
• Medical exam required: Yes
• Terms available: 10 to 30 years
• Ages supported: 18 to 75
• Riders and options: Accelerated death benefit, child term rider, waiver of premium, accidental death benefit, conversion options