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Having a life insurance plan is a wonderful way to help provide support and solace for your loved ones after you pass. The right life insurance policy can help your family cover funeral costs and new bills that occur after losing a relative, allowing them to focus on the grieving process rather than stressing about end-of-life costs. 1
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There are a variety of senior life insurance plans to choose from, with price points that fit your lifestyle. Life insurance for senior citizens works the same way as for any other age group. However, many companies have age restrictions that impact which plans are available.1 Aflac can help you find a plan that may provide the coverage you're looking for.
Once you find a senior life insurance plan that suits your needs, you'll pay regular premiums to keep the policy active. Some plans have a cash value aspect that can be accessed early, but most plans have a death benefit that your beneficiary receives when the plan ends (subject to limitations and exclusions).
Life insurance for seniors is similar to regular life insurance but can have different coverage and price points based on seniors’ age at the time of application. This would also take their needs into consideration. Those who are younger may have more life insurance options than older applicants.1 If you only need life insurance for a certain amount of time, term life insurance may be a good option for you. However, whole life insurance provides coverage for your entire life, regardless of when you pass, as long as you keep up with the premiums.
Some plans offer cash value components that can be used to help pay for large expenses, such as mortgages and medical bills. Additionally, many plans provide instant access to a death benefit, the portion of the money that will be paid to your beneficiary when you pass.
Depending on how much you spend on premiums, the cash value and death benefit of your plan can vary.2,3 Choosing a life insurance plan for seniors can help your family prepare for the future and focus on healing.
Don’t wait until it’s too late. Help protect yourself and your family with coverage from Aflac.
Get StartedHere are some common types of life insurance plans available for seniors:
Term life insurance is an option for seniors if you have an idea of how long you may want coverage, because you can choose the specific length of your plan. Typically, term life insurance plans last 10 to 30 years. With this type of plan, policyholders must pass away within the chosen period of years for beneficiaries to receive benefits.1
The older you are, the less variety there may be in term lengths.2 However, term life insurance is still a popular choice for those who are looking for a policy that can still provide benefits for their loved ones.
As you age, providing security for your loved ones can become a more pressing concern. Whole life insurance is another option for seniors, providing coverage for the entire life of a policyholder.
Unlike term life insurance, the benefits of whole life insurance will typically be payable to your beneficiary, no matter the timing of your passing. Whole life insurance can be a good option if you want certainty that your family will receive benefits upon your death.
Final expense insurance is a permanent life insurance policy that offers a small death benefit when you pass away. Your beneficiaries can use the payout to cover your funeral and burial costs, as well as other end-of-life expenses. These policies may have a waiting period before the death benefit would apply.
That said, since final expense insurance is a smaller plan, it typically has lower premiums than other permanent life insurance policies. Aflac offers final expense whole life insurance that can provide seniors with the coverage they need.
Here are some advantages of getting life insurance for seniors:
While the rates you’ll pay for life insurance depend on the type of plan you get and other factors, many policies offer reasonable premiums that can fit your budget.
From term life insurance to permanent policies, there are plenty of life insurance options at your disposal. Based on your needs and budget, you can find a policy that is right for you.
Having a senior life insurance policy can give you peace of mind knowing your loved ones will have financial support in your absence. They can use the death benefit payout to cover any expenses after your passing.
Finding the right life insurance company is just as important as finding the right plan. As mentioned earlier, a variety of plans are available to best meet seniors’ specific needs. Whether your goals are to spend less or secure more, here are tips to help you determine the best senior life insurance for you and your loved ones:
First, think about the reasons you’d like senior life insurance. Maybe your goal is to cover your burial and funeral costs. Or perhaps you’d like to continue income for a partner when your pension no longer applies, fund a Special Needs Trust, or provide funds for your family to cover large debts.
Once you understand your coverage needs, it’s time to shop around and compare policy types. The two most common types of life insurance are term and whole life insurance. Term life insurance covers you for a set period and typically has a lower monthly premium. Meanwhile, whole life insurance typically lasts a lifetime and can build cash value, though it may cost more.
A life insurance advisor can educate you on your options and help you find the ideal policy for your unique circumstances. While you can navigate senior life insurance on your own, a life insurance advisor is worth considering, as they can simplify the process at no additional cost.
Life insurance for seniors can give your loved ones a financial safety net if you pass away. With over 50 years of experience, Aflac may be able to help you find the coverage you’re seeking. Aflac offers term life insurance, whole life insurance, and final expense insurance that seniors may consider. These policies come with reasonable premiums and coverage that can be customized to meet your needs. Start chatting with an agent today to get a quote and figure out which life insurance plan is best for you.
There are several reasons why you may benefit from a life insurance policy as a senior. The death benefit can provide financial security for beneficiaries and help them cover a variety of expenses, such as burial costs, medical bills and remaining debts, like a mortgage, credit card bills and auto loan payments.
A life insurance policy can also come in handy if you’re a married senior who has a pension without survivor benefits. In addition, it can be useful if you’re parenting one or more grandchildren.
The amount of life insurance you should consider as a senior depends on several factors. These include your coverage needs and financial obligations, the type of life insurance policy you’d like and how much you can afford.
If you would like your policy to cover a burial service, for example, you’ll likely require less coverage than a senior who wants their policy to pay off a significant mortgage balance.
While the average life insurance policy costs about $26 per month, senior life insurance costs can vary based on factors such as age, health and lifestyle. To get a better sense of the coverage amount that may fit your needs, consider using a life insurance calculator to estimate your ideal level of protection.
Get Started
Considering getting a life insurance plan? Find out what a life insurance beneficiary is, how the process works, and who can change the beneficiary on your policy.
The rates you'll pay for term life insurance depend on your age and other factors. Find out how rates vary with age and how to find the best term life insurance plan for you.
Considering getting a life insurance plan? Find out what a life insurance beneficiary is, how the process works, and who can change the beneficiary on your policy.
The rates you'll pay for term life insurance depend on your age and other factors. Find out how rates vary with age and how to find the best term life insurance plan for you.
1 Investopedia - Best Life Insurance Companies for Older Adults — Top Picks. Updated May 26, 2026. https://www.investopedia.com/the-best-life-insurance-for-seniors-8778716. Accessed August 17, 2026.
2 Illinois Department of Insurance – Buying Life Insurance. https://idoi.illinois.gov/consumers/consumerinsurance/lifeannuities/buying-life-insurance.html . Accessed August 17, 2026.
3 Texas Department of Insurance – Life Insurance Guide. Updated December 12, 2025. https://www.tdi.texas.gov/pubs/consumer/cb018.html. Accessed August 17, 2026.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Aflac life plans – A68000 series: Term Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C. Not available in Virginia.
Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (NAIC 92908).
In AR, DE, ID, OK and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Aflac Final Expense policies are not available in New York.
Coverage/plan may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
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