In this article:<\/strong><\/p>\n Fortunately, you have more options for life insurance than you think at age 65 (hint: your choices are not at all limited to the AARP\u00a0or Colonial Penn and it’s guaranteed acceptance policy!)<\/p>\n We work with over 30 of the best life insurance companies<\/a> have over 30 years of experience helping people get the policies they need.<\/p>\n When you\u2019re getting married, and you have your first kid, the need for life insurance is obvious. When you\u2019re retired or getting close to it, it\u2019s not as obvious anymore.<\/p>\n At 65, do you still need coverage? How much should you buy?<\/p>\n First of all, yes, you probably need life insurance. Your policy may not be as large, but you still need some protection.<\/p>\n If you don\u2019t know how much life insurance to buy, figuring it out is easy. You just have to add a few numbers together.<\/p>\n First, how much will a funeral\/burial cost? Regardless of any other expenses, these are ones you\u2019re GOING to have. The average funeral can cost $10,000, but most people spend less than that.<\/p>\n After you\u2019ve added up those costs, what about other debts? You may not have a mortgage loan, but you might have other bills sitting around. Your family needs the money to pay off whatever bills you have.<\/p>\n One additional factor you may want to consider in all of this adding is charitable donations. A lot of the applicants we talk to want to leave behind money to one of their favorite organizations.<\/p>\n Life insurance is an excellent tool for anyone wanting to give back to their community after they pass away.<\/p>\n Once you\u2019ve added up these three categories, you should have a pretty good idea of how much life insurance you should buy.<\/p>\n Regardless of how much the total comes out to be, there are options for you.<\/p>\n The cost of a term life insurance policy at age 65 may not be as much as you think. Here are a couple of examples:<\/p>\n A 65-year-old woman in good health looking for a 20-year term worth $100,000 is likely to be offered:<\/strong><\/p>\n A 65-year-old man applying for a 15-year term worth $250,000 is likely to be offered:<\/strong><\/p>\n If you are 65 or older, you may have already considered permanent life insurance. After all, you don\u2019t know exactly when your time will come, and for all you know, you could live on for a long time!<\/p>\n Permanent life insurance coverage ensures that no matter when you pass, your loved ones will get a payout to help them cope with any expenses left behind or even just to help your dependents maintain their lifestyle.<\/p>\n The great news is that if you choose the right kind of permanent life insurance coverage, you\u2019ll end up paying a lot less than other kinds of policies, like Whole Life (an expensive permanent coverage option).<\/p>\n We, therefore, recommend Guaranteed No-Lapse Universal life insurance. Essentially, what this kind of policy does is guarantee that you will have coverage for the rest of your life. As a bonus, it also costs far less than other permanent life insurance options, and the death benefits remain level.<\/p>\n To give you a better idea of what kind of rates you can expect with this kind of policy, we\u2019ve come up with a few examples based on real-life scenarios:<\/p>\n As you probably already know, the AARP exists solely to serve senior citizens.<\/p>\n\n
Seniors Can Get Life Insurance at Age 65 or Older<\/h2>\n
![\"senior](\"https:\/\/www.bestlifequote.com\/wp-content\/uploads\/2018\/06\/couple-with-life-insurance-for-people-over-65-300x200.jpg\")
<\/p>\nWhy Do Seniors Need Life Insurance?<\/h3>\n
How Much Coverage Does a Senior Over 65 Need?<\/strong><\/h4>\n
Policy Rates for 65-Year-Olds<\/h2>\n
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Converting To Permanent Coverage<\/h2>\n
Guaranteed No-Lapse Rate Examples<\/h3>\n
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What About AARP Life Insurance?<\/h2>\n