Turning 70 does not shut you out of coverage. Final expense insurance is built for older seniors. Here is how to qualify and what to expect.
Can you get final expense insurance after age 70?
Yes. Final expense insurance is specifically designed for older adults, and most carriers accept applicants well into their 80s. Two paths exist. Simplified issue plans ask a short list of health questions and reward good health with lower premiums and immediate coverage. Guaranteed issue plans skip health questions entirely and accept nearly every applicant, with a graded benefit period of two to three years. For a healthy 70-something, simplified issue usually offers the best value; for those with serious conditions, guaranteed issue ensures coverage no one can decline.
What seniors over 70 should expect to pay
Premiums climb with age because life expectancy is shorter, so a policy that costs $40 a month at 60 may cost more at 72. As a rough guide, a non-smoking 72-year-old might pay $70 to $140 a month for $10,000 in coverage, depending on health and carrier. The longer you wait, the higher the rate, which is why applying now matters. Because pricing varies sharply between carriers, comparing several is the only way to find the lowest rate. Call 1-800-MEDIGAP (1-800-633-4427) and a licensed agent will shop carriers for you.