As financial needs evolve in retirement, seniors often look for policies that balance affordability, lifetime guarantees, and practical living benefits. In 2025, the strongest senior-focused picks are carriers with A or better financial strength, consistently solid customer satisfaction, and low complaint patterns, paired with products seniors can qualify for late in life. Our analysis emphasizes AM Best financial strength, the latest J.D. Power customer satisfaction findings, the NAIC Consumer Complaint Index methodology, and 2025 pricing benchmarks from reputable consumer rate studies.
Compared with buying in your 20s, senior life insurance choices often focus on simplified-issue final expense or guaranteed-issue whole life, late-age term for short remaining needs, and permanent coverage with living benefits (chronic illness or LTC riders). To select the best options for ages 55–85, we weighted financial strength and service stability alongside product fit and pricing, aligning with 2025 data from J.D. Power, AM Best, and current senior rate snapshots from Policygenius, NerdWallet, and Bankrate.
The 5 Top Life Insurance for Seniors
- State Farm: Best Customer Service
- Northwestern Mutual: Best Online Tools
- Nationwide: Best Coverage Options
- New York Life: Best Living Benefits
- Mutual of Omaha: Best Guaranteed Acceptance
Compare the Best Life Insurance Companies for Seniors
| AM BEST FINANCIAL STRENGTH AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. POWER OVERALL CUSTOMER SATISFACTION J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|
| Pin Mutual of Omaha | A+ | See 2025 study | |
| Pin Nationwide | A+ | See 2025 study | |
| Pin New York Life | A++ | See 2025 study | |
| Pin Northwestern Mutual | A++ | See 2025 study | |
| Pin State Farm |
2021 J.D. Power U.S. Individual Life Insurance Study | See the latest findings in the 2025 J.D. Power U.S. Individual Life Insurance Study.
Information accurate as of 11/11/2025
Best Guaranteed Acceptance
Why we chose it
Pros
- Broad senior eligibility with simplified e-application
- Competitive final-expense pricing for common $10k–$20k needs
- Guaranteed acceptance design avoids exams and health questions
Cons
- Two-year graded period typically applies (non-accidental death)
- Higher cost per $1,000 than fully underwritten policies
- Coverage amounts are modest vs. traditional term or UL
Insurance products offered
- Term life
- Whole life
- Universal life
- Children’s whole life
- Accidental death
- Guaranteed acceptance (final expense)
Unique features
Recognized senior-focused final-expense leader; coverage typically available to ages 50–85 with instant-decision workflows for small face amounts.
*J.D. Power’s 2025 U.S. Individual Life Insurance Study (1,000-point scale). See latest results: J.D. Power press releases.
Further Reading on Mutual of Omaha
Best Coverage Options
Why we chose it
Pros
- Diverse permanent and term policy lineup
- Living benefits available (chronic illness/LTC-type riders)
- Online quotes for select policies
Cons
- No guaranteed-issue life option
- Complex riders require careful review of definitions and costs
- Digital features vary by product
Insurance products offered
- Term life
- Whole life
- Universal life
- Variable life
- Long-term care (via riders/hybrid on select offerings)
Unique features
Riders to cover spouses and children; options to structure lifetime guarantees (verify state-specific availability).
*J.D. Power’s 2025 U.S. Individual Life Insurance Study (1,000-point scale). See latest results: J.D. Power press releases.
Further Reading on Nationwide
Best Living Benefits
Why we chose it
Pros
- Participating whole life with strong guarantees and potential dividends
- Comprehensive living-benefit options on select policies
- High financial strength and advisor guidance
Cons
- Full underwriting common; premiums higher than simplified final-expense WL
- Policy customization may require advisor meetings
- Limited online quotes for complex products
Insurance products offered
- Term life
- Whole life
- Universal life
- Variable life
Unique features
Focus on lifetime protection and estate planning with access to chronic illness and LTC riders that can help fund care under qualifying conditions.
*J.D. Power’s 2025 U.S. Individual Life Insurance Study (1,000-point scale). See latest results: J.D. Power press releases.
Further Reading on New York Life
Best Online Tools
Why we chose it
Pros
- Helpful online estimator and account tools
- Advisors assist with retirement and estate planning
- Available nationwide
Cons
- Advisor engagement required for most purchases
- No classic final-expense product
- Limited pricing detail online
Insurance products offered
- Term life
- whole life
- Universal life
- Long-term care
Unique features
Advisors tailor coverage to retirement income, estate, and care-planning goals; digital tools support early planning.
*J.D. Power’s 2025 U.S. Individual Life Insurance Study (1,000-point scale). See latest results: J.D. Power press releases.
Further Reading on Northwestern Mutual
Best Customer Service
Why we chose it
Pros
- Strong service reputation and agent support
- Final-expense quotes available online
- High financial strength
Cons
- Pricing may not be the lowest for older ages
- Must purchase through an agent
- Availability varies by state and product
Insurance products offered
- Term life
- Whole life
- Universal life
Unique features
Local agents and straightforward policy servicing can simplify claims, beneficiary updates, and rider selection for seniors.
*J.D. Power’s 2025 U.S. Individual Life Insurance Study (1,000-point scale). See latest results: J.D. Power press releases.
Further Reading on State Farm
Guide to Life Insurance for Seniors
Life Insurance Options for Seniors
Seniors can choose from several different types of life insurance that vary in coverage and cost. In 2025, healthy non-smokers around age 60–70 can still find 10-year term from major carriers, while final-expense whole life remains a common choice for smaller, lifetime coverage. Benchmark monthly quotes from recent consumer research show about $100–$170 (age 60) and $170–$260 (age 65) for $250,000/10-year term, and about $200–$350 at age 70 (availability narrows) [sources: Policygenius, NerdWallet, Bankrate]. Final-expense whole life of $10,000 commonly runs roughly $45–$70/month at age 70 and $70–$120/month at age 75, assuming non-smoker standard health.
- Term life: Term life insurance is a type of life insurance that lasts for a specific period of time, often between 10 and 30 years. It can still fit late-age needs (e.g., 10 years to bridge income or mortgage), though premiums rise with age and some carriers cap new term issue ages in the 70s.
- Whole life: Most seniors choose whole life insurance as it lasts for your entire life with level premiums and can build cash value. Final-expense versions target $5,000–$25,000+ to cover funeral costs and small debts.
- Universal life: Like whole life insurance, universal insurance lasts for the rest of your lifetime, as long as premiums are paid. Many designs can be structured with no-lapse guarantees for lifetime coverage; crediting depends on product type.
- Variable life: This type of policy gives you both life insurance and investment subaccounts (stocks, bonds, mutual funds). Values and the death benefit can fluctuate with markets, so it carries higher risk.
- Long-term care coverage: Consider permanent life with a chronic illness or tax-qualified LTC rider for care funding. Modern riders increasingly offer cash indemnity options and care coordination. See NAIC long-term care guidance and the Genworth Cost of Care Survey for local cost benchmarks.
- Guaranteed acceptance insurance: Also called guaranteed-issue insurance, this whole life policy does not require medical questions or exams. Designs typically include a two-year graded death benefit and smaller face amounts—useful when health conditions block other options. Some carriers (e.g., Corebridge, Gerber Life) also offer guaranteed-issue; see Corebridge for more.
Life Insurance Riders and Features for Seniors
Not every life insurance policy fits every person or family’s unique needs. Riders expand coverage to address situations not covered in base policies—such as accessing benefits during serious illness or waiving premiums during disability. These features are now common on senior-focused policies, but most add cost and may reduce the death benefit when used. As of 2025, regulators and industry guidance emphasize clarity of definitions and consumer protections for living-benefit riders and variable products; see the NAIC on accelerated death benefits and FINRA’s 2025 oversight report.
- Accelerated death benefit: Access part of your death benefit while living under qualifying conditions (e.g., terminal or chronic illness). Terms and tax treatment vary; review policy disclosures and NAIC guidance.
- Accidental death and dismemberment: Adds benefits for qualifying accidental death or severe injury; illness is typically not covered.
- Waiver of premium: Premiums can be waived during qualifying disability (definitions vary by insurer and rider).
- Chronic care: Riders triggered by inability to perform activities of daily living or cognitive impairment can help fund care; tax-qualified LTC riders (§7702B) offer LTC-specific standards. See NAIC LTC overview.
- Living death benefit: Often another term for an accelerated death benefit; using it generally reduces the remaining death benefit.
Learn more details about riders and how they work on our full page about life insurance riders. Regulatory updates to note in 2024–2025: Colorado adopted first-in-nation rules for life insurers’ use of algorithms/data in underwriting to prevent unfair discrimination (Colorado DOI); the FCC declared AI-generated voice robocalls illegal under the TCPA (FCC); CMS’s 2025 MCMG tightens cross-selling rules during Medicare appointments (CMS); and FINRA reiterated Reg BI and communications scrutiny for variable life (FINRA).
Do you need life insurance after 70?
If you’re over the age of 70, many insurers still issue whole life (often final-expense) and a subset offer short-term options. Expect higher premiums and stricter underwriting: for a healthy non-smoker, recent research shows around $200–$350/month for a $250,000, 10-year term at age 70 (fewer carriers available), while a $10,000 final-expense whole life policy commonly runs roughly $45–$70/month at age 70 and $70–$120/month at age 75 (NerdWallet, Policygenius). Consider applying before your next birthday (age-nearest pricing) and compare simplified-issue vs. fully underwritten options for value.
Buying life insurance in your 20s vs. your 50s
In your 20s, term life typically focuses on income replacement and debt protection at low cost. In your 50s, needs shift toward legacy planning, final expenses, and potential care funding. Permanent coverage (whole or universal) can provide lifetime guarantees and access to living benefits; late-age term can bridge 10–15 years for targeted obligations. Pricing rises sharply each age band—$250,000/10-year term for a healthy non-smoker commonly moves from ~$100–$170/month at age 60 to ~$170–$260 at age 65 (Bankrate, Policygenius).
How easy is it to get life insurance after 50?
Getting life insurance after 50 remains feasible. Many carriers expanded accelerated/no-exam underwriting for select term and permanent policies, though fully underwritten coverage still offers better value when health permits. If medical underwriting is a hurdle, simplified-issue final-expense or guaranteed-issue whole life can provide fast, modest coverage—at a higher cost per dollar than term or universal life. To control costs, apply before age-nearest pricing jumps, compare multiple quotes, and match term length to remaining obligations (NerdWallet, Policygenius). Also review financial strength (AM Best), service (J.D. Power), and complaint patterns (NAIC Complaint Index) before you apply.
