Life Insurance At 85 Years Old – What Are Your Options?

Age 85 is the maximum age to obtain a permanent life insurance policy, so if you are looking for a policy at this age, or if you are researching coverage for a family member or friend, then it is important to make a decision soon, before it is too late. Although most seniors obtain final expense insurance policy earlier in life, there are times when people make the decision to get insurance at this age. The first thing you should know is that there are still options available, though it depends somewhat on your health status.

Your Options for Life insurance at 85 Years Old

At this age the only type of coverage that you can obtain is a final expense policy, also known as burial insurance or funeral expense insurance. This is a whole life insurance policy, which means that the rate is fixed and the coverage is permanent. Whole life insurance also builds cash value over time because a portion of your premiums are set aside in a savings account. This cash value can be borrowed or left within the policy. Coverage amounts range from $2,000 to a maximum amount of $30,ooo. At this age you probably want to obtain some coverage to cover the costs of a funeral and final expenses, so it will not be a burden on your family. Most people will desire about $7,000 to $10,000 worth of final expense insurance to cover burial expenses.

You Don’t Need a Medical Exam to Qualify for Coverage

To qualify for this type of coverage, there is no medical exam needed to apply for coverage. In order to qualify you will have to fill out an application and answer a set of health questions. Insurance companies all have different questions that they inquire about, but they generally ask about the same types of things. Most carriers will want to know if you are in a nursing home or if you are unable to care for yourself. You will also have to disclose whether you currently have or previously had (usually the previous 36 months) heart problems, cancer, a stroke, diabetes, or other major health issues.

Keep in mind that most insurers who specialize in insurance coverage for the elderly understand that most  seniors in their eighties are going to have some health issues, so don’t let that be a deterrent to applying for a policy. There are a many highly rated companies that offer final expense life insurance up to age 85. The rate will depend on whether you are a male or female (insurance on a male costs more) and whether or not you smoke. Rates also differ from one company to another. That is why it is important to compare quotes from multiple companies that specialize in final expense life insurance for seniors to find out which company has the most affordable rate for your situation.

Hi! I'm Patricia Jordan - a licensed life insurance agent and managing editor of the quotesfortermlife.com site and blog. I assist people in finding the most affordable policy for their needs. Connect with me on Google +

7 Responses to “Life Insurance At 85 Years Old – What Are Your Options?”

  1. MARIE LEPORE says:

    I AM INTERESTED IN LIFE INSURANCE. I AM 85 YEARS OLD, IN GOOD HEALTH, & NEVER SMOKED A DAY IN MY LIFE. FOR $25,000.00 OF LIFE INSURANCE, WHAT WOULD MY MONTHLY PREMIUM BE ? THANKS A MILLION, MARIE LEPORE PS I LIVE IN NEW YORK

  2. MARIE LEPORE says:

    WHAT WOULD $25,000.00 OF LIFE INSURANCE RUN ME PER MONTH ? I AM 85 & LIVE IN NEW YORK. THANK YOU, MARIE LEPORE

  3. Beth says:

    i would like to ask for a quotation for burial insurance of my father, rigfht now he’s in Philippines and i’m here at northern marianas island. If in case i will be the one to pay for the monthly insurance of my father.

    thank you…

  4. MR MRS D Hackett says:

    I AM INTERESTED IN LIFE INSURANCE. I AM 85 YEARS OLD David Hackett , IN GOOD HEALTH, & Margrate Hackett I am 82 years old FOR $25,000.00 OF LIFE INSURANCE, WHAT WOULD MY MONTHLY PREMIUM BE ? THANKS
    11 regents Park 200 Duchy Road Salford M6 7GS
    Tel 01617371664

  5. Patricia Jordan says:

    Mrs. Hackett, Unfortunately I cannot provide quotes outside of the US.

  6. yvette hill says:

    I live in Alabama, My father lives in Bronx, Newyork he is 82 yrs old with no life insurance. I am looking for Final Expense or burial insurance for him

    Thanks

  7. Patricia Jordan says:

    Hi Yvette! I see that your dad is 82 and needs life insurance. There are still many companies that provide coverage at this age, though the rate is dependent on your father’s health, whether he smokes, etc. In order to get an accurate quote for your father’s age and health, do a rate comparison using our quote engine or call us at (877) 801-4402. I will send you an email with this information too. I’m sending you an email as well. Let me know if I can help you in any other way. Thanks for visiting the site.

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