Life Insurance for Seniors Over 80

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Life Insurance for Seniors 80 and Over

The cost of life insurance for seniors over 80 depends on many factors including the amount of insurance requested, the health of the proposed insured and most importantly their age. Final expense life insurance is easy to secure as it only requires a list of questions to be answered to receive coverage. Larger policy amounts require a fully underwritten application
process (including an exam and blood testing) to obtain coverage.


When shopping for life insurance always keep in mind the goals you and your family have. Did you know the cost of the average funeral today is over $7,000? Life insurance can remove the burden of expensive funeral costs and post-life expenses.

Senior Life Insurance Choices

What You Should Consider


Why are you interested in purchasing a life insurance policy for a senior over 80? What’s the purpose of the coverage you want? Will it cover the cost of just a funeral? Will there be debts left behind? Do you want to leave a lump sum to the family? These are questions that must be asked when deciding on a life insurance policy. 


When you think about purchasing the best life insurance for seniors your only option is permanent life insurance. Term life insurance is no longer available for people over 80. Permanent life insurance policies will cover you for your lifetime and that makes the most sense at age 80 and above.


Three Types of Life Insurance for Seniors Over 80

There are basically three different types of permanent life insurance policies available. Each type of policy has different requirements, and each carrier has their own process for approval. 

At LifeNet Insurance Solutions, we are familiar with the carriers and will help you choose the one that will work best for you personal situation.

Universal Life Insurance Over Age 80


Universal life insurance policies have face amounts that start at $25,000 or more. A guaranteed premium universal life insurance policy  that does not accumulate cash value will be the least expensive choice. The premium and face amount will remain the same for the life of the policy.

Guaranteed premium universal life insurance policies are fully underwritten and a medical exam and doctor records will be required for approval.

Final Expense Insurance Over Age 80


Final expense life insurance offers coverage in amounts of $2,000 up to $50,000. These are whole life policies, and are easy to purchase.

There are several different types of final expense life insurance policies; preferred or level, standard,  graded or modified. 

These insurance policies require the answer a number of medical questions on the application. There is no exam needed. The policy can be in force very quickly.

Guaranteed Life Insurance Over Age 80

Guaranteed issue life insurance policies have no medical questions or requirements. 

All applicants are approved. This is a type of whole life policy and is easy  to purchase and quick to be approved and in force.

Guaranteed issue policies are more expensive that regular final expense because all applicants are accepted.

This is the policy for anyone who cannot purchase any other coverage.

What Does Life Insurance for Seniors Over 80 Cost?


Life insurance pricing is more expensive as you age. Each year, the premiums increase. To keep the price as reasonable as possible we suggest:

  • Purchase only as much coverage as you need.
  • Use an independent agent to help you get the best priced policy that you can qualify for.


The specific cost of your policy will be determined by the type of policy you choose, the face amount, and your age and health rating.

Example pricing for an 81 year old female non smoker:


Type of Policy Face Amount Monthly Premium
Guar Prem Universal $25,000 (standard rating)  $ 188 *
Final Expense- Level $ 18,000  $ 189 *
Final Expense- Graded $ 12,000  $ 182 *
Guaranteed Issue $ 10,000  $ 180 *

*These rates are not all available in all states. This chart is to show the different pricing by type of coverage.

If you’re unable to afford the amount of coverage you want, at LifeNet Insurance Solutions we suggest you purchase life insurance that’s within your means. You want to be able to keep the coverage to protect your family.


Contact LifeNet Insurance Solutions today to get your free life insurance quote.


Requirements for Life Insurance Over Age 80


Each type of life insurance that we have discussed has very distinct requirements for underwriting.  

The differences are explained below.

Guaranteed Premium Life Insurance (GPUL)

This type of policy has the most rigorous requirements of the three options.

A GPUL requires full underwriting. The applicant will need a paramedic exam including lab tests for blood and urine. (There is no cost for this and the examiner will come to you.)

The life insurance company will also order your doctor’s records. They will check the prescription database and Medical Information Bureau.

This policy requires all applicants to medically qualify and purchase a minimum of $25,000.

All application information will be reviewed by an underwriter. They will follow the insurance carrier guidelines to determine if you qualify and at what rating.

Final Expense Life Insurance
(Level or Graded)


This type of insurance does not require medical exams or tests for approval.

Many applicants prefer this type of policy for that reason. The applicant will be required to answer several medical questions. Your answers will determine if you are approved at level or graded benefit.

The insurance company will check with prescription databases and the Medical Information Bureau to ensure your answers are correct and truthful.

Even  if you can't qualify for a GPUL, you may be approved for a final expense policy.

These policies are quick and easy to put in force.

Guaranteed Issue Life Insurance


This policy type does not require any medical requirements for approval.

Every applicant who applies for this type of coverage is accepted. The cost is higher than the other policies choices.

The policy works as an accidental life insurance policy during the first two years. If the insured passes from a medical issue, the beneficiary usually receives all premiums paid plus interest.

After the 2 year anniversary, when the insured dies the beneficiary will receive the full face amount.

Certain states allow seniors up to age 85 to purchase this type of coverage. Several stop sales at either age 80 or 75.



Choosing Life Insurance That's Right for YOU


Consult an independent life insurance agent when shopping for the right policy for you and your family. Discussing your needs and goals with a LifeNet Insurance Solutions agent that specializes in affordable life insurance for seniors will ensure the process is uncomplicated.

We will help you navigate the different policy types and insurance carriers.

You’ll have no way of knowing which company is your best option, but our agents will be able to tell you what’s best for you and your situation.

Our independent agents will search many life insurance carriers to determine the most affordable option for the policy type you want.

Searching for life insurance pricing on your own can be stressful and confusing. LifeNet Insurance Solutions will ensure you don’t get frustrated or confused searching for coverage. We have many more carriers in our quote engine than you can find.

Use our agents to your advantage! We’ll make sure you find the best policy at an affordable price. Contact us today for your free life insurance quote!

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