Life insurance is a form of insurance which will designate a financial sum to a pre-chosen beneficiary upon the policy holder’s death. While both variants of life insurance - term and whole - are available to people of all ages, it is more difficult for older applicants to get accepted. Life insurance for seniors, which helps assist families with funeral and medical costs while the deceased’s estate is still in probate, is mostly available as ‘guaranteed issue’ life insurance. Compared to other life insurance products, guaranteed issue won't take the applicant's current and past health into consideration, and a medical examination is not required. The catch, however, is that the death benefit, as well as its coverage limit, is typically smaller than its counterparts in other plans.

Top 3 Life Insurance for Seniors

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9.7 / 10

AIG Direct is a branch of AIG that specializes in customizable life insurance options. Their ‘Guaranteed Issue Whole Life Insurance’ is meant for those within the age range of 50 to 85. As part of this plan’s guaranteed acceptance, applicants cannot be turned down based on pre-existing conditions. In addition to the coverage limit of $25,000, AIG Direct also includes living benefits associated with chronic and terminal illnesses. AIG Direct is an excellent choice for those shoppers who are seeking a flexible plan with the option of add-ons.

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9.2 / 10

Fidelity Life is an insurance company that endeavors to provide peace of mind to middle Americans. Fidelity Life’s RAPIDecision Senior Life insurance is available in both term and whole life variants. Regardless of one’s choice, Fidelity Life’s senior life insurance is designed for those between the ages of 50 and 85. With an industry-leading maximum coverage amount of $150,000, Fidelity Life is great for those who require a greater deal of flexibility than other providers are capable of offering.

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9.4 / 10

MassMutual is a provider of life insurance based in Massachusetts. Their guaranteed acceptance life insurance’ program is meant to provide older applicants with insurance, without the need for a medical exam beforehand. Specifically intended for those between 50 and 75, MassMutual offers a customizable coverage range, which can span from $2,000 to $25,000. MassMutual is fantastic for those who are seeking a well-regarded customer experience, in addition to flexible plan options.

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