Last Updated on: July 25, 2024
Reviewed by Kyle Wilson
When you’re 80 and older, there are fewer senior life insurance options available than when you were younger, and you won’t be able to buy a large policy. The good news is that at this stage in your life, you don’t need as much coverage as you used to. Most adults in their 80s have paid off large debts like mortgages, have grown children who no longer depend on them, and don’t need a safety net to replace lost income. Plus, they usually have savings and assets covering the debt they leave behind.
When you reach 80, it makes the most sense to buy a whole life policy, especially final expense insurance, to pay for your funeral, burial, and other costs. There are also a few different burial insurance for seniors over 80 policy types you may want to consider along with final expense insurance, especially if you have debt from medical bills or want to leave an inheritance to any of your loved ones.
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All that most seniors in their 80s searching for life insurance require is cash for burial and other expenses like hospital bills. They do not need whole or term policies for tens or hundreds of thousands of dollars, particularly because the cost of these plans is prohibitively expensive for individuals in their 80s. In many cases, they are not even offered to adults of this age group.
Final expense insurance, the other term used as burial insurance for seniors over 80, is one of the best senior life insurance policies at this age. In addition to low rates, there are many other pros to getting burial insurance over other policies when you’re in your 80s: In addition to low rates, there are many other pros to getting burial insurance over other policies when you’re in your 80s:
All the life insurance companies have final expense insurance policies for seniors who are over 80 years of age. If you are 80 years old with your days precisely at 80 then you can take term life insurance with some companies but you need to pass a medical test. However, if you are over 80, you will be given a chance to apply for a universal life insurance policy but this will require you to undergo a medical examination.
People above 80 years of age commonly have limited prospects when it comes to life insurance, besides paying more than the younger generation. But, the good news is that you can still go for optimal, cheap insurance. This is one of the criteria used to determine who qualifies for burial insurance for seniors over 80. If you are above 80 and you are in the process of buying this policy, you need to do it as soon as possible because the cost rises as you age and there are some life insurance policies that you cannot access when you are above 85.
Final expense life insurance with burial insurance is available up to the age of 85 for those who meet the requirements. If you are close to being 85, then you need to apply soon so that you get the coverage. If you are now considering yourself an elderly person and believe that you need life insurance but the final expense sounds more like something that you do not need, you can visit burial insurance and look at their offerings for seniors.
Seniors over can expect to pay $100-$200 monthly for a $10,000-$20,000 final expense policy. If you’re 80 (not ≥ 81), a $100,000 10-year term policy will cost roughly $200-$300 per month. Remember that the exact price depends on your age, gender, the amount of coverage you want, and your health.
See the whole life rate table below for sample monthly final expense life insurance quotes for the older adults over 80.
Age & Gender | $10,000 | $25,000 |
Female age 80 | $98 | $241 |
Male age 80 | $135 | $332 |
Female age 81 | $106 | $261 |
Male age 81 | $143 | $353 |
Female age 82 | $114 | $280 |
Male age 82 | $153 | $376 |
Female age 83 | $121 | $298 |
Male age 83 | $162 | $400 |
Female age 84 | $129 | $317 |
Male age 84 | $171 | $423 |
Female age 85 | $136 | $335 |
Male age 85 | $178 | $440 |
Female age 86 | $171 | $423 |
Male age 86 | $236 | $585 |
Female age 87 | $206 | $510 |
Male age 87 | $277 | $686 |
Female age 88 | $239 | $596 |
Male age 88 | $317 | $788 |
Female age 89 | $260 | $683 |
Male age 89 | $357 | $888 |
Senior Writer & Licensed Life Insurance Agent
Iqra is a dynamic and insightful senior writer with a passion for life insurance and financial planning. With over 8 years of hands-on experience in the insurance industry, Iqra has earned a reputation for delivering clear, actionable advice that empowers individuals to make informed decisions about their financial future. At Insure Guardian, she not only excels as a licensed insurance agent but also as a trusted guide who has successfully advised over +1500 clients, helping them navigate the often complex world of life insurance and annuities. Her articles have been featured in top-tier financial publications, making her a respected voice in the industry.
Burial Senior Insurance provides information and services related to burial insurance for senior citizens, including policy options and end-of-life support services.
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