Can An 84 Year Old Get Life Insurance?

Life insurance is a valuable financial tool for people of all ages, and even at 84 years old, it’s possible to find a policy that meets your needs. While it’s true that age can impact coverage options and premium costs, seniors can still secure life insurance, especially if they are in good health. Several companies offer tailored policies for older individuals, focusing on their unique financial and health requirements.

At age 84, many seniors consider life insurance primarily for final expenses, such as funeral costs and outstanding debts, to ease the financial burden for their loved ones. Coverage options for 84-year-olds include whole life insurance, term life insurance, and guaranteed issue life insurance. The eligibility and cost of these policies may vary based on factors like health, smoking status, and coverage amount.

Key Takeaways

  • Seniors, including 84-year-olds, can still obtain life insurance with appropriate coverage options and premium costs.
  • Life insurance for older individuals often focuses on final expenses and protecting loved ones from financial strain.
  • Eligibility and costs for 84-year-olds may depend on factors such as health status, smoking habits, and the desired coverage amount.

Reasons To Get Life Insurance At Age 84

There are various reasons why an 84-year-old might need life insurance. Some of the main reasons include:

Financial Security

Life insurance at this age can provide financial security for the insured’s family and dependents, ensuring they can cover final expenses, such as funeral costs and any debt left behind.

Health Conditions

An 84-year-old might develop health issues, and life insurance offers peace of mind. The coverage can provide funds to cover medical expenses, especially if other sources do not entirely cover those costs.

Legacy Planning

Life insurance policies can be used to leave a financial legacy for children, grandchildren, or charities of the policyholder’s choice.

When considering life insurance options for seniors, comparing different types of policies and carriers is essential. The following table outlines some of the main factors to consider:

FactorsWhole Life InsuranceTerm Life InsuranceBurial/ Final Expense Insurance
Age AvailabilityUp to age 85Typically up to age 80Up to age 85
Coverage AmountVariesVariesGenerally lower
Medical Exam RequiredSometimesSometimesRarely
Cash Value ComponentYesNoNo
Permanent CoverageYesNoYes

Seniors must shop around to find the most suitable policy based on their unique needs, age, and health conditions. Some carriers may offer coverage without medical exams, while others may require a simplified health questionnaire.

When shopping for life insurance at age 84, it is essential to consider the financial strength, customer satisfaction ratings, and potential dividends of the insurance carrier. Companies such as MassMutual, Mutual of Omaha, and those with high J.D. Power ratings should be considered.

In conclusion, an 84-year-old can get life insurance. Exploring different policies, carriers, and coverage options is essential while being mindful of age, health, and financial situation factors. Life insurance at age 84 can provide financial security, cover health-related expenses, and leave a lasting legacy for loved ones.

Life Insurance Options for 84-Year-Olds

As an 84-year-old senior looking for life insurance, you still have options to find coverage without facing too many difficulties. This section will provide an overview of the following policies available for seniors aged 84 and above No Medical Exam Policies, Final Expense Insurance, Simplified Issue Life Insurance, and Guaranteed Issue Life Insurance.

No Medical Exam Policies

No Medical Exam Policies are designed for seniors who want to obtain life insurance without undergoing a medical exam. These policies usually have a simplified underwriting process where the applicant must answer a health questionnaire. It is important to remember that premiums for Medical Exam Policies may be higher compared to policies that require a medical exam. However, the approval process is faster, making it an appealing choice for seniors looking for quick coverage.

Final Expense Insurance

Final Expense Insurance, or burial or funeral insurance, covers the expenses associated with the policyholder’s death. Seniors over 80 may find this option helpful as it eases the financial burden on their loved ones. Although final Expense Insurance typically provides less coverage than other policies, it remains affordable for older adults.

Simplified Issue Life Insurance

Simplified Issue Life Insurance offers coverage without a detailed medical examination. Applicants are required to answer a health questionnaire, and their answers determine eligibility and premium rates. This policy type suits seniors with minor health concerns, balancing affordability and coverage. Simplified Issue Life Insurance can provide seniors with peace of mind and financial protection for their beneficiaries.

Guaranteed Issue Life Insurance

Guaranteed Issue Life Insurance is designed for seniors who have difficulty obtaining health insurance coverage. This policy does not require a medical exam or a health questionnaire, ensuring everyone can secure coverage. However, premiums for Guaranteed Issue Life Insurance tend to be higher, and the policy may have a graded death benefit, meaning full coverage may not be available until after a specified period.

Policy TypeMedical Exam RequiredHealth Questionnaire RequiredPremiumsCoverage
No Medical Exam PoliciesNoYesHigherModerate to High
Final Expense InsuranceNoNoLowerLower
Simplified Issue Life InsuranceNoYesModerateModerate
Guaranteed Issue Life InsuranceNoNoHigherModerate, Graded

In summary, seniors aged 84 have various life insurance options that cater to different needs and health conditions. Consider each policy type’s features before choosing the most suitable insurance coverage.

Factors Affecting Life Insurance Eligibility at 84

It is still possible to obtain life insurance at the age of 84, but several factors can affect eligibility and premium rates. These factors include health conditions, smoking status, and gender.

Health Conditions

The overall health of an individual plays a significant role in determining their eligibility for life insurance. People with existing health issues may face higher premiums or be denied coverage altogether. However, some insurers, like Fidelity Life, offer life insurance plans for seniors up to the age of 85, with coverage amounts ranging from $5,000 to $50,000 for people 75 and older to cover a variety of needs.

Health ConditionInfluencing Factor
Chronic diseasesHigher premiums, limited coverage, or denied eligibility
Controlled conditionsMore favorable premiums and coverage
Pre-existing conditionsHigher premiums, limited coverage, or denied eligibility

Smoking Status

An individual’s smoking status is another determining factor for life insurance eligibility and premium rates. Non-smokers generally enjoy lower premiums, while smokers are charged higher rates due to the increased risk associated with tobacco use. According to GetSure, an 84-year-old male non-smoker can buy a $2,000 burial insurance policy for $40 per month, while a smoker would pay $65 per month.

Smoking StatusPremium Rate
Non-smokerLower premiums
SmokerHigher premiums


Gender plays a role in life insurance eligibility and premium rates, as women generally live longer than men and, therefore, represent a lower risk to insurance companies. Due to this, female policyholders typically enjoy lower premiums than their male counterparts.

GenderPremium Rate
FemaleLower premiums
MaleHigher premiums

Seniors aged 84 must consider these factors when seeking life insurance, as they can significantly impact eligibility and premium rates. By thoroughly assessing their health conditions, smoking status, and gender, 84-year-olds can make informed decisions about life insurance and secure the appropriate coverage that meets their needs.

Factors to Consider While Choosing a Policy

When an 84-year-old gets life insurance, several factors must be considered while choosing the right policy. These factors include coverage amount, premiums, waiting period, and insurance carriers’ financial strength. Let’s delve into these factors in more detail.

Coverage Amount

The coverage amount, also known as the death benefit, is the money beneficiaries receive upon the policyholder’s death. Determining an appropriate coverage amount is crucial to ensure that any financial obligations and expenses can be met. For seniors over 75, coverage amounts typically range from $2,000 to $25,000.

Factors that may influence the coverage amount include:

  • Outstanding debts
  • Medical expenses
  • Funeral costs
  • Dependents’ financial needs


Premiums are the policyholder’s monthly or annual payments to keep their life insurance policy active. At age 84, it is essential to consider the affordability of premiums, as they tend to be higher for older individuals due to their shorter life expectancy.

Whole life insurance and term life insurance are two common types of policies. Whole life insurance offers lifelong protection with a cash value component, whereas term life insurance provides coverage for a specific duration.

Policy TypePremiumsBenefits
Whole LifeTypically higher than term life premiumsLifelong coverage; cash value growth
Term LifeGenerally lower than whole life premiumsTemporary coverage; lower cost

Waiting Period

Some life insurance policies have a waiting period, during which the policy’s full death benefit is not payable. This period helps to minimize the risk for the insurance carrier in the case of the policyholder’s early death. An 84-year-old needs to understand and consider the waiting period of a potential policy, as it may have implications on their beneficiaries’ financial security.

Financial Strength of Insurance Carrier

When choosing a life insurance policy, it’s critical to consider the insurance carrier’s financial strength. Independent agencies such as AM Best typically assign an insurance carrier’s financial strength rating. These ratings reflect the carrier’s ability to fulfill its policy obligations and pay out its promised benefits.

A strong carrier with a high financial rating will likely:

  • Remain solvent through economic fluctuations
  • Provide timely payouts to beneficiaries
  • Offer competitive premiums and coverage options
  • Be more likely to pay dividends (in the case of eligible whole life policies)

By considering these factors – coverage amount, premiums, waiting period, and financial strength of the insurance carrier – an 84-year-old can make an informed decision about the life insurance policy that best meets their needs and offers protection for their loved ones.

Frequently Asked Questions

What are the top life insurance providers for seniors above 80?

Several life insurance companies offer policies for seniors above 80. Two of our favorites are Aetna and CVS Health.

Are there life insurance options with no medical exam for individuals over 80?

Yes, life insurance options are available for individuals over 80 without requiring a medical exam. One such option is guaranteed issue whole life insurance. These policies have higher premiums than traditional life insurance but normally require just a few simple health questions.

What are the costs associated with life insurance for seniors over 75?

Life insurance costs for seniors over 75 vary depending on the policy type, coverage amount, and the individual’s health status. For example, an 84-year-old non-smoker can buy a $2,000 burial insurance policy for $40 per month, whereas a smoker would pay $65.

Is term life insurance available for seniors above 80?

Term life insurance is typically available for seniors in their 60s and 70s, securing a 10- or 20-year term policy. However, it is generally difficult to find term life coverage for individuals over 80. Whole life insurance or final expense policies are more suitable for seniors above 80.

How does life insurance coverage change after 85 years old?

Life insurance coverage becomes more limited after 85 years old. Final expense whole life insurance is typically the only policy type available for seniors over 85, as term life, universal life, and other traditional life insurance options do not exist for this age group.

What is the most suitable life insurance policy for seniors over 80?

For seniors over 80, the most suitable life insurance policy is often final expense whole life insurance. This policy covers funeral and burial expenses, medical bills, and credit card debt and can be used as an estate planning tool to offset taxes. It generally does not require a medical exam and provides lifelong coverage with level premiums.

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