Protective Insurance, Midland National and Pacific Life offer some of the best whole life insurance for seniors in 2025, according to MoneyGeek's analysis.
Find out if you're overpaying for life insurance below.
Updated: November 24, 2025
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Protective Insurance is the best whole life insurance company, earning the highest overall rating for seniors in MoneyGeek's analysis.
Midland National offers the cheapest whole life insurance for seniors, with $500,000 coverage costing an average of $1,902 per month for women and $2,281 for men.
Seniors with poor health can also consider Pacific Life when shopping for whole life insurance.
Why You Can Trust MoneyGeek
We analyzed collected whole life insurance quotes companies covering ages 50 to 80 for smokers, non-smokers, men, and women at various heights, weights, and health levels across a range of term limits and coverage levels. MoneyGeek maintains editorial independence and doesn't receive compensation from insurance companies for life insurance rankings or recommendations. For more information, read our full methodology.
Protective Insurance is the best overall company for whole life insurance plans for seniors, but the top option may vary depending on your profile and needs.
The table below presents some of the top whole life insurance companies for seniors, as determined by our analysis.
Protective Insurance | $3,615 (men) $3,149 (women) | $43,385 (men) $37,783 (women) | 4.8 | |
Midland National | $2,281 (men) $1,902 (women) | $27,369 (men) $22,820 (women) | 4.6 | |
Pacific Life | $4,513 (men) $3,782 (women) | $54,156 (men) $45,386 (women) | 4.3 |
Rates above are based on MoneyGeek's analysis of our sample profiles and may not reflect current market rates. Actual premiums will depend on your profile, lifestyle, health and coverage needs. Contact insurers directly for personalized quotes.
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Finding the right whole life insurance policy requires careful evaluation of your financial situation and coverage goals. Unlike term life insurance, whole life provides permanent protection with guaranteed premiums and cash value growth throughout your lifetime.
Follow these steps to secure the best coverage:
Request quotes from at least three to five insurers to find competitive premiums.
Choose insurers with AM Best ratings of A- or higher.
Most traditional whole life policies require medical exams and health questionnaires.
Decide between lifetime premiums, limited-pay periods or single premium policies.
An agent can help navigate medical underwriting and explain policy features.
Age and gender impact life insurance premiums, with costs increasing with age.
| $100,000 | $205 | $2,460 |
| $250,000 | $513 | $6,150 |
| $500,000 | $1,025 | $12,300 |
| $1,000,000 | $2,050 | $24,599 |
| $2,500,000 | $5,125 | $61,498 |
Rates above are based on MoneyGeek's analysis of our sample profiles and may not reflect current market rates. Actual premiums will depend on your profile, lifestyle, health and coverage needs. Contact insurers directly for personalized quotes.
Choosing the best whole life insurance for seniors requires balancing affordability, financial strength and underwriting flexibility.
Protective Insurance stands out as the top overall choice, combining competitive rates with strong financial ratings and comprehensive coverage options. Midland National offers the most affordable premiums for budget-conscious seniors. Pacific Life provides the best options for seniors with health challenges through flexible underwriting guidelines.
Compare quotes from multiple insurers and consider your specific needs, health status and budget constraints when selecting whole life insurance coverage.
We answer frequently asked questions about whole life insurance for seniors to help you find the best policy and company for your needs.
Whole life insurance for seniors offers lifetime coverage, fixed premiums and a guaranteed death benefit that never decreases.
Whole life insurance provides a tax-free death benefit that helps beneficiaries cover estate taxes and final expenses.
Most insurers issue whole life insurance for seniors up to age 85, though a few extend eligibility to age 90. Simplified issue and guaranteed issue policies often accept older applicants who might not qualify for traditional coverage.
A 70-year-old should have enough whole life insurance to cover final expenses, outstanding debts and provide financial support for their spouse.
Yes. Seniors can obtain coverage through simplified issue or guaranteed issue whole life insurance policies. These skip the medical exam and rely on brief health questionnaires or none at all, but have smaller coverage limits and higher premiums.
Whole life insurance is better for seniors who want permanent protection, stable premiums and cash value accumulation. Term life insurance suits those seeking lower premiums and short-term coverage, especially if investment flexibility is a priority.
How We Found the Best Whole Life Insurance for Seniors
Finding the right whole life insurance can get more challenging as you age, with limited health options and rising premiums creating obstacles for seniors. We designed our research to address these specific concerns, focusing on companies that offer competitive rates and flexible underwriting for older adults.
Our analysis evaluated insurers across three weighted categories that matter most to seniors:
This weighting reflects the reality that premium costs become a primary concern for retirees on fixed incomes.
What We Analyzed
Each company's score reflects an analysis of cost data obtained through online quotes, financial strength ratings from A.M. Best, and years in business, as well as customer satisfaction data from the National Association of Insurance Commissioners (NAIC) customer complaint index.
We also examined buying process tools, including online materials and payment options, along with product diversity across different life insurance offerings.
Our Senior-Focused Approach
We focused on a 70-year-old male profile with $500,000 coverage, representing typical estate planning needs for this demographic. Our standard profile included male nonsmokers who are 5 feet, 9 inches tall and 160 pounds with average health ratings.
For the cheapest whole life insurance company, we compared average quotes for male nonsmokers aged 50 to 85.
We modified the profile by age, gender, height, weight, tobacco use and health rating to determine the best company for different senior customer types.
Coverage Amount Strategy
We collected quotes for varying coverage amounts to reflect how older adults use whole life insurance differently from younger buyers.
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.
