Affordable Life Insurance Protection for Your Family

How Much Life Insurance Do Seniors Need?

If you are a senior citizen considering the purchase of life insurance, you may be wondering how much insurance you need.


There’s a lot of things to consider when deciding how much life insurance a senior really needs.


For instance, "What do you want your life insurance policy to accomplish?" – that’s probably the Number 1 question to ask.


Once you have your answer, you’ll want to consider how much insurance it will take a accomplish your goal.

Common Life Insurance Goals for Seniors


  • Pay for Final Expenses – Cost of Burial and Funeral
  • Pay for End of Life Expenses including Hospital Bills
  • Pay Off Credit Card Debt
  • Replace Income for Family
  • Provide for Spouse’s Retirement
  • Pay Off Mortgage Loan
  • Provide for Child or Grandchild’s College Education
  • Leave Money for Loved Ones


Life Insurance to Pay for Final Expenses


Yes, one of the most common reasons that seniors buy life insurance is to pay for their funeral and burial costs, which are also known as final expenses.


No one wants to leave the financial burden of their funeral and burial to their loved ones after they die. 


Planning for the inevitable is not only the responsible thing to do, it shows your family you cared enough to make sure they didn’t have to be left with any undue financial burden upon your passing. And, it gives you Peace of Mind.


Usually, the cost of a burial and funeral can average about $8,750 in the U.S.A.


However, depending on your need for coverage, you may want a higher amount life insurance to accomplish other goals.


Choosing The Right Amount of Life Insurance


For most people looking for life insurance (especially seniors on a budget) it may be a good idea to use a life insurance needs calculator to help you get an accurate estimate of how much insurance you really need.


With a needs calculator you answer some basic questions about your finances and then you just click on a button to instantly see how much life insurance you need to meet your specific situation.


Here’s a link to our life insurance needs calculator to help you figure out your insurance needs. It’s quick and easy to use. And, it only takes a minute or two.


Shopping for Life Insurance


Once you know your goal for your life insurance, and how much you need, you’re ready to start comparing prices for your policy.


Life insurance premiums can vary quite a bit from different insurance carriers.


That’s why it’s a good idea to shop and compare pricing from several of the leading insurance companies before choosing your plan.


Make sure to answer all questions truthfully when you request a free quote for life insurance coverage. The quote request form will have you answer some basic questions: Your age, gender, state of residence, health, tobacco use, etc. 


The insurance companies use this information to give you the most accurate price they can on your life insurance.


Seniors with Health Issues or Denied Coverage


Keep in mind, some senior citizens may not qualify for life insurance due to their age and/or health condition.


That doesn’t mean you cannot get insured. 


There are insurance companies that offer Guaranteed Approval life insurance. This means, if you meet the age requirement for approval, you cannot be turned down due to any pre-existing health condition.


For example, Mutual of Omaha offers up to $25,000 of guaranteed issue permanent life insurance for people age 45 to 85 years old (50-75 in NY).


Life Insurance Quotes


Top Pick – JRC Insurance Group

JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 63 top life insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote.


Highly Recommended – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.

  • Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee


Guaranteed Acceptance Life Insurance for Seniors

How Much Life Insurance Do Seniors Need?

Life Insurance for Seniors Age 50 to 85

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Senior Care Plan

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