Best Life Insurance Companies for Seniors (2026)

Legal & General is the best term life insurance provider for seniors with coverage up to $10 million for applicants up to 75 years old. 

A 65-year-old woman will pay $94 monthly, while a man of the same age will pay $136 for $100,000 on a ten year term. Their A rating from A.M. Best shows strong financial stability, though not quite at the highest tier. The conversion options they offer let you switch to permanent coverage up to age 70, which gives you more time to make that decision than most other insurers allow.

• 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: 10-40 years
• Ages supported: 20-75
• Riders and options: Accelerated death benefit rider, child rider, stacking rider, guaranteed insurability rider, conversion options to age 70

Protective is the best universal life insurance for seniors, available up to age 85. A 65-year-old woman of average height, weight and health seeking $100,000 in universal life insurance coverage pays $155 monthly, while a man of the same profile pays $179. Your premium stays level for life with no increases as you age.

Its A+ rating from A.M. Best shows solid financial strength, and it scored 653 out of 1,000 in J.D. Power's customer satisfaction rankings, placing 9th overall. Protective also sells term life insurance to seniors up to age 80. It offers competitive term rates, with women paying $89 for $100,000 in coverage and men paying $126.

• A.M. Best rating: A+
• NAIC complaint index: N/A
• J.D. Power score: 653 (9th)
• Customer sentiment: 82% positive, 18% negative

• Max coverage: $10 million+
• Medical exam required: Yes
• Terms available: 10–40 years
• Ages supported: 20–80
• Riders and options: Child term rider, accelerated death benefit, waiver of premium, accidental death benefit, guaranteed insurability, conversion options up to age 70

Guaranteed life insurance doesn't require a medical exam or health questions, making it ideal if health issues might disqualify you from traditional coverage. Gerber Life has the best guaranteed life insurance for seniors, with coverage extending to age 80. Its guaranteed policies provide up to $25,000 in coverage to handle final expenses and leave something behind for loved ones. You'll pay $85 for $20,000 in coverage or $107 for the maximum coverage of $25,000.

It also offers term life insurance up to $5 million for applicants up to 70 years old. Its term rates run higher than competitors: 65-year-old women pay $151 monthly for $100,000 in coverage and men pay $209.

• A.M. Best rating: A+
• NAIC complaint index: N/A
• J.D. Power score: N/A
• Customer sentiment: 81% positive, 19% negative

• Max coverage: $1 million without medical exam (Term), $25,000 (Guaranteed Whole)
• Medical exam required: No
• Terms available: 10–30 years (Term)
• Ages supported: 18–70 (Term), 50-80 (Guaranteed Whole)
• Waiting Period (Guaranteed Whole): N/A
• Riders and options: Accelerated Death Benefit, Child Coverage, Guaranteed Issue Options

SBLI is the most affordable term life insurance for seniors. A 65-year-old woman pays just $77 monthly on average for $100,000 in coverage, while men of the same age pay $109. You can get high coverage too, with policies available up to $10 million for applicants ages 18 to 75.

Their A financial strength rating from A.M. Best and A+ rating from the BBB show that they're financially stable and treat customers fairly. Their NAIC complaint index of 1.08 is slightly higher than some competitors, but their low rates often offset this concern. If you're primarily focused on maximizing coverage while minimizing monthly costs, SBLI delivers what you need.

• 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: 10-30 years
• Ages supported: 18-75
• Riders and options: Accelerated death benefit, child term rider, waiver of premium, accidental death benefit, conversion options from term to permanent coverage

Midland National is the best whole life insurance for seniors with coverage that builds cash value over time while providing lifetime coverage. At age 65 with $100,000 in coverage, you’ll lock in a rate of $444 per month for women and $544 for men. While whole life costs more than term insurance, Midland National's rates stay competitive, and you're building an asset that accumulates cash value you can borrow against if needed.

Midland National also offers up to $10 million in term coverage for applicants up to age 75, with the second lowest rates among providers in our list. A 65-year-old woman pays $87 monthly for $100,000 in coverage, while men of the same age pay $122.

Their dual A+ ratings from both the BBB and A.M. Best demonstrate strong financials and customer commitment. If you want permanent coverage with a savings component, Midland National delivers reliable financial protection backed by strong ratings.

• A.M. Best rating: A+
• NAIC complaint index: N/A
• J.D. Power score: 643 (13th)
• Customer sentiment: 72% positive, 28% negative

• Max coverage: $10 million+
• Medical exam required: Yes
• Terms available: 10-30 years
• Ages supported: 18-75
• Riders and options: N/A

No-exam term life insurance gives temporary coverage without a medical exam, often with higher coverage limits than guaranteed whole life. Mutual of Omaha has the best no-exam life insurance for seniors with up to $300,000 in coverage, accepting applicants up to 80 years old.

At $109 monthly for 65-year-old women and $152 for men of the same age with $100,000 in coverage, the convenience and speed of approval offset the extra cost compared to fully underwritten policies. If you're willing to take a medical exam, its coverage limits extend to over $10 million.

It earns a J.D. Power customer satisfaction score of 659, placing 6th overall, and maintains an excellent NAIC complaint index of just 0.51. Its A+ ratings from the BBB and A.M. Best demonstrate reliability.

• A.M. Best rating: A+
• NAIC complaint index: 0.51
• J.D. Power score: 659 (6th)
• Customer sentiment: 74% positive, 26% negative

• Max coverage: $10 million+ with medical exam or $300,000 without medical exam (Term), $25,000 (Guaranteed Whole)
• Medical exam required: No
• Terms available: 10-30 years (Term)
• Ages supported: 18-80 (Term), 45-85 (Guaranteed Whole)
• Waiting Period (Guaranteed Whole): If death occurs from natural causes in first 2 years, beneficiaries receive premiums paid plus 10%
• Riders and options: Accelerated death benefit, child term rider, waiver of premium, accidental death benefit

Ethos makes buying life insurance easy with digital-first service that seniors appreciate. The insurer includes free access to estate planning tools for all policyholders, including wills, trusts, power of attorney documents, and caregiving resources. This makes them a great option if you’re handling end-of-life planning.

Ethos offers term coverage up to $3 million for applicants ages 18 to 69, which is more limited than other options in our list. But they also offer guaranteed whole life insurance policies available up to age 85 at $20,000 in max coverage. Their A+ rating from the BBB and A+ rating from A.M. Best demonstrate strong financials and high customer satisfaction. At $273 monthly for 65-year-old women and $387 for men at $100,000 in coverage, their term rates run substantially higher than competitors. You're paying for the convenience of online application, quick approval, and those valuable estate planning tools that would cost hundreds elsewhere. Their guaranteed whole life insurance plans for seniors are more affordable at $109 per month for both men and women at the maximum coverage level of $20,000.

• A.M. Best rating: A+
• NAIC complaint index: N/A
• J.D. Power score: N/A
• Customer sentiment: 95% positive, 5% negative

• Max coverage: $3 million without medical exam (Term), $20,000 (Guaranteed Whole)
• Medical exam required: No
• Terms available: 10-40 years (Term)
• Ages supported: 18-69 (Term), 55-85 (Guaranteed Whole)
• Waiting Period (Guaranteed Whole): If death occurs from non-accidental causes within the first 2 years, beneficiaries receive 100% of premiums paid plus 30%.
• Riders and options: Accelerated death benefit, free will and estate planning tools