Yes, you can get life insurance after 65, but your options narrow and premiums rise sharply

Life insurance does not stop being available at 65. You can buy a new policy, switch policies, or increase coverage on an existing one at any age. However, insurers treat applicants over 65 differently: they charge more per month, require medical exams more often, and offer fewer policy types. Term life insurance — which covers you for a set number of years — becomes expensive enough that whole life or universal life policies sometimes cost less. Some insurers stop writing new policies for applicants over 75 or 80, though others continue.

The real constraint is not age itself but health. At 65 and beyond, insurers order medical records, blood tests, and sometimes EKGs or stress tests before approving you. If you have diabetes, heart disease, cancer history, or lung problems, you will pay significantly more or face denial. If you are healthy, you can still buy coverage — but you will pay roughly two to three times what a 45-year-old pays for the same amount.

Key Takeaways

  • Term life insurance premiums roughly double or triple for applicants over 65 compared to those in their 40s, making whole life or universal life sometimes cheaper despite higher base rates.
  • Most insurers require medical exams for anyone over 65, including blood work and sometimes EKGs, so pre-existing conditions will affect your rate or approval.
  • Some insurers stop accepting new applicants at 75 or 80, so if you wait, your options may shrink further.
  • may provide issue policies (no medical exam) exist for people over 65 but cost substantially more and pay out lower death benefits, usually $10,000 to $25,000.
  • If you already have a policy from your employer or a previous purchase, you may be able to convert it to permanent coverage without a new medical exam.

How premiums change after 65

A 45-year-old man in good health might pay $30 to $50 per month for $250,000 in 20-year term life insurance. A 65-year-old man in the same health pays $150 to $250 per month for the same coverage and term. A 75-year-old pays $400 to $600 or more. These numbers vary by insurer, health history, and whether you smoke, but the pattern holds: each year adds 5 to 10 percent to your monthly cost.

Whole life and universal life policies have higher base premiums but do not increase with age the way term does. A 65-year-old might pay $400 to $600 per month for whole life with a $250,000 death benefit, while a 45-year-old pays $200 to $300. But a 65-year-old buying term for 20 years would pay $150 to $250 monthly — so term is still cheaper in the short run. The crossover point depends on how long you live and which policy you choose.

Medical underwriting and health conditions

Insurers order medical records for nearly all applicants over 65. They want to see your blood pressure, cholesterol, blood sugar, and kidney function. If you have had a heart attack, stroke, or cancer diagnosis in the past five to ten years, expect either a much higher rate or outright denial. Some conditions — like well-controlled high blood pressure or diabetes — do not automatically disqualify you but do raise your rate by 25 to 100 percent.

Smoking status matters enormously. Smokers over 65 pay roughly double what non-smokers pay. If you quit within the past year, most insurers still classify you as a smoker. You typically need to be smoke-free for at least one year, sometimes two, before you get the non-smoker rate.

If you have been denied by one insurer, do not assume you will be denied by all. Different companies have different underwriting rules. Some specialize in covering people with health issues and charge less for certain conditions than others do. Working with an independent agent who represents multiple insurers can save you time and money.

may provide issue policies for people over 65

If you cannot pass a medical exam or do not want one, may provide issue life insurance exists. No medical questions, no exam, no waiting period for most causes of death. You straightforward answer a few health questions on the process, and if you answer honestly, you are approved.

The trade-off is steep. may provide issue policies cost two to four times more per month than medically underwritten policies for the same person. Death benefits are also capped — usually $10,000 to $25,000, rarely more than $50,000. If you die within the first two years, the insurer may refund only your premiums plus interest rather than pay the full benefit, though this varies by policy.

may provide issue makes sense if you have serious health problems that would be denied elsewhere, or if you need coverage quickly and do not want to wait for underwriting. It does not make sense if you are in good health — you will overpay significantly.

Converting an existing policy instead of buying new

If you have group life insurance through an employer or a union, check whether your policy includes a conversion option. This lets you convert some or all of your group coverage to an individual permanent policy without a medical exam, even if you leave the job or retire. The conversion must happen within a set window — usually 30 to 60 days after you lose the group coverage — but you do not have to prove your health.

Conversion is often cheaper than buying a new individual policy at 65 or older, because you avoid the medical underwriting process and the age-based rate increase. The new policy will cost more than your group premium did, but less than a new individual policy would. If you have an old term policy that is about to expire, some insurers let you convert it to whole life or universal life at your current age without re-underwriting.

Term versus permanent coverage after 65

Term life insurance covers you for a fixed period — 10, 20, or 30 years. After that period ends, the coverage stops unless you renew. At 65, a 20-year term means coverage until 85. A 30-year term means coverage until 95. If you die during the term, your beneficiary gets the full death benefit. If you outlive the term, there is no payout and no refund of premiums.

Permanent policies — whole life and universal life — cover you for your entire life as long as you pay premiums. Whole life premiums are fixed and never increase. Universal life premiums can increase if the policy underperforms, but you have some control over how much you pay. Both types build cash value that you can borrow against or withdraw, though doing so reduces the death benefit.

For someone over 65, the choice depends on your goals. If you need coverage for a specific debt or obligation that will be paid off by age 85 or 90, term is cheaper. If you want coverage that lasts your entire life and do not mind higher premiums, permanent is the right choice. If you are unsure how long you need coverage, permanent gives you flexibility — you can stop paying and use the cash value, or keep paying and leave a larger benefit.

Where to shop and what to compare

Do not assume the first quote you get is the best. Rates vary widely by insurer, and some companies specialize in covering older applicants or people with health issues. An independent insurance agent can request quotes from multiple insurers at once, saving you time and often finding better rates than you would find on your own.

When comparing quotes, make sure you are comparing the same thing: same death benefit amount, same policy type (term versus whole life), same term length if it is term. A quote for $250,000 in 20-year term is not comparable to a quote for $250,000 in whole life. Also ask about any riders — optional add-ons like waiver of premium (stops your premiums if you become disabled) or accelerated death benefit (lets you access some of the death benefit if you are diagnosed with a terminal illness).

Some insurers offer simplified underwriting for applicants over 65 — fewer medical questions, no exam, but higher premiums than full underwriting. This can be a middle ground between may provide issue and traditional underwriting if you have minor health issues or do not want the hassle of an exam.

Frequently Asked Questions

What is the oldest age I can buy life insurance?

Most insurers stop writing new policies around age 75 to 85, though some continue to 90 or beyond. If you wait until 80 or 85, your options shrink and rates are much higher. There is no legal age limit, but availability depends on the insurer and your health.

Do I need a medical exam to get life insurance after 65?

Most insurers require one for applicants over 65, though some offer simplified underwriting with fewer questions and no exam. may provide issue policies have no exam or medical questions. If you have an existing policy you can convert, conversion usually does not require a new exam.

Can I get life insurance if I have had a heart attack or stroke?

Yes, but expect a higher rate or possible denial depending on when it happened and your current health. Some insurers specialize in covering people with heart disease. An independent agent can shop multiple companies to find one willing to cover you at a reasonable rate.

Is whole life or term better for someone over 65?

Term is cheaper month-to-month but expires at a set age. Whole life costs more but lasts your entire life and builds cash value. The right choice depends on whether you need coverage for a specific period (term) or for life (whole life), and whether you can afford the higher premiums.

What happens if I am denied life insurance?

Denial from one insurer does not mean denial from all. Different companies have different underwriting standards. Ask the insurer why you were denied, then work with an independent agent to find a company that covers your health condition. may provide issue is also an option if you cannot pass underwriting anywhere.