Affordable Life Insurance Protection for Your Family

Senior Term Life Insurance Quote

Shopping for Senior Term Life Insurance Quotes


Are You a Senior Shopping for the Best Quotes on Term Life Insurance?

If so, you’ve come to the right place. With term life plans seniors like yourself can get the maximum amount of coverage at the lowest cost.

Term insurance offers protection for a specific period of time, usually up to 30 years.

You can compare the lowest prices available by requesting a free quote. You simply click on the link below, answer a few easy questions and instantly see the best prices available from 40 top life insurance companies including Prudential, MetLife, Northwestern Mutual, MassMutual, Transamerica and Lincoln Financial, among others.

Start Your FREE Quote


Is Term Life Insurance Right for Senior Citizens?

It can be if you need affordable coverage.

Once of the main challenges of purchasing term life insurance when you are over age 55 is the price. 

The older you are, the higher the cost of a life insurance policy.  

But, you can find affordable term life policies for seniors if you are looking for coverage for a period of 30 years or less.

Term life plans for seniors are usually available for people in their 50’s, 60’s or 70’s.

There are other types of guaranteed issue permanent life insurance plans that may be more appropriate if you are over 75 or in need of guaranteed coverage.

The best term life insurance coverage for seniors can be found by comparing benefits and prices. You’ll want to make sure to compare plans from financially sound and secure insurers. 

Reasons Seniors Buy Term Life Plans 

  • Pay off your home mortgage loan, credit card debt, or healthcare and hospital bills.
  • Help pay for college tuition for children and grandchildren.
  • Pay for alternative care for elderly family members you are responsible to care for.
  • Provide funds to pay for your final expenses.
  • Replace your income for your family.
  • Provide funds for your spouse’s retirement.


So, don’t think you can’t get life insurance or don’t need it just because you’re a senior. 

Term life policies offer you a choice of coverage for a period (term) of 10, 15, 20 or 30 years. Some insurers even offer terms of 5 or 25 years.

If you pass away during the term of your policy, your beneficiary receives the death benefit from your life insurance.

You select a beneficiary or beneficiaries to receive your life insurance when you purchase your policy. The proceeds from your policy are paid to the beneficiary free from federal income tax.

Term insurance offers the lowest rates on life insurance for seniors.


How Does Term Insurance Work?

It’s a type of life insurance providing protection for a specific number of years, usually up to 30 years.

If you pass away during the "term" of your policy, the death benefit is paid out to the beneficiary of your life insurance. 

If you outlive the duration of your coverage, there is no payout and the insurance expires.


How Long Does Term Insurance Last?

The "term" is the period of time you have coverage, usually from 5 to 30 years.


What Length of Term Coverage is Available?

Depending on your age, you may be able to choose a term of 5, 10, 15, 20 or 30 years of coverage.

You may be able to choose coverage that will last for a period of 5, 10, 15, 20 or even 30 years – depending on your age and health.


Senior Term Life Insurance without Physical Exam

Is it possible for seniors to get term insurance without taking a physical?

Yes, there are insurers offering senior term life with no exam, but there are usually some health questions you will need to answer in order for the insurance company to determine if you qualify for a policy.


What Affects the Cost of Term Insurance for Seniors? 

There are several factors that affect your cost of term insurance, including:

Coverage Factors

  • Amount of Life Insurance Coverage
  • Duration of Life Insurance Protection


Personal Risk Factors

In addition, there are several risk factors that impact your cost of insurance, including:

  • Age and Gender of Insured
  • Health
  • Family Health History
  • Lifestlye
  • Tobacco Use
  • Driving Record
  • Occupation and Hobbies


How to Get Senior Term Life Insurance Cheap?

Basically, the younger and healthier you are when you purchase your life insurance plan, the lower your annual cost of coverage.

In addition, the shorter your term, and the lower the amount of coverage, the lower your cost of life insurance.


How to Save Money

There are several tips you can follow which may end up saving you hundreds of dollars per year on the cost pf your term insurance.

  • Compare Pricing from Multiple Insurers
  • Choose Annual Premium Payment Method
  • Choose a Shorter Term for Coverage
  • Choose a Lower Amount of Life Insurance
  • Quit Smoking
  • Lower Your Cholesterol
  • Get Healthy – Start exercising, lower your weight and eat a healthy diet.


Term Life Insurance Sample Rates for Seniors


How Much Does Senior Term Life Insurance Cost Per Month?

Here are sample rates for a 10-year policy with $250,000 of coverage for healthy, non-smokers:


Age 60

Male – $60.10

Female – $42.15


Age 65 

Male - $105.35

Female – $66.98


Age 70 

Male – $172.48

Female – $108.25


Age 75 

Male – $342.24

Female – $223.52                                                                                                             


Senior Term 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

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