What Is Available After 65
Several types of coverage remain available to people over 65, and the right one depends on your goal and health. Term insurance is still an option, though carriers limit both the length of the term and the maximum issue age, so a 20 year term may not be offered the way it would be to a younger buyer. Guaranteed universal life is popular at this age because it provides coverage for your entire lifetime at a lower cost than traditional whole life insurance, by focusing on the death benefit rather than building significant cash value. Whole life insurance is also available and includes cash value growth, generally at a higher premium than guaranteed universal life for the same death benefit. Final expense or burial policies offer smaller face amounts, often intended to cover funeral costs and other final expenses, and tend to have simpler underwriting than larger policies. Each of these fits a different need, and comparing them side by side helps clarify which one matches your goal.
What Changes After 70
Turning 70 shifts the landscape somewhat, though coverage is still available for most people. Fewer carriers issue long term or larger policies to applicants in their 70s, which narrows your list of realistic options compared to your 60s. Term lengths available also shorten, so a 30 year term is generally off the table and even a 10 year term may reach the upper limit some carriers will offer. Face amount limits tend to tighten as well, meaning the maximum death benefit a carrier will approve can be lower simply because of age. Underwriting also weighs health history more heavily at this stage, since carriers are pricing risk over a shorter statistical time horizon. None of this means coverage is unavailable. It means the shopping process matters more, since the right fit depends on finding carriers whose underwriting and product lineup match your specific age and health.
No Exam and Simplified Issue Options
No exam and simplified issue policies skip the medical exam and rely instead on a health questionnaire, which means faster decisions and no needle, no blood draw, no waiting on lab results. The tradeoff is real. These policies typically come with smaller face amounts than fully underwritten coverage, and the cost per dollar of coverage is usually higher, since the carrier is taking on more uncertainty without a full medical picture. Skipping the exam does not mean skipping underwriting entirely. Carriers still check prescription history, medical records databases, and the answers you give on the application, and inaccurate answers can affect a claim later. No exam coverage can be a good fit for someone who wants speed and simplicity and does not need a very large policy, but it is not automatically the cheapest or best option for everyone.
Guaranteed Issue as a Last Resort
Guaranteed issue life insurance asks no health questions and cannot deny you based on health, which sounds appealing but comes with an important catch. Most guaranteed issue policies include a graded death benefit. Under a graded death benefit, if death occurs from natural causes during the first two or three policy years, the beneficiary typically receives a return of the premiums paid plus interest, not the full face amount. After that graded period ends, the full death benefit applies for any cause of death, and accidental death is usually covered at the full amount from day one. Because of this graded structure and the generally higher cost per dollar of coverage, guaranteed issue should be the last option considered, not the first. It exists for people who genuinely cannot qualify for any other type of policy, and it is worth ruling out simplified issue and other underwritten options before settling on guaranteed issue.
Why Shopping Multiple Carriers Matters
Carriers do not underwrite health conditions the same way. One carrier may view controlled diabetes favorably while another prices it much higher, and the same is true for a history of cancer that is now in remission or a past heart condition that is well managed. An independent agent shops your specific health profile against multiple carriers rather than presenting a single company's product, which means the goal is finding the carrier whose underwriting guidelines actually fit your health history, not just the first policy offered. Lara Goulson does this work at no cost to you, comparing options across carriers so you see real choices rather than a single quote. She is licensed in 11 states and meets with clients by phone or video, in English, Spanish, or Hebrew.
Find the Right Fit for Your Health and Budget
Life insurance after 65, and after 70, comes down to matching your health profile to the carrier and product that fits it best. Lara Goulson reviews your health history and goals, then compares term, guaranteed universal life, whole life, final expense, and no exam options across multiple carriers so you can see real choices rather than a single offer. There is no cost for this review. The next step is simply a conversation about where you stand today.
Call (818) 472-5484 for a no cost review of your life insurance options.
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