The Truth About Life Insurance For Seniors Over 85 [Review]

Danny Ray last updated on February 16, 2024

Written by Daniel Ray, Life Insurance Expert | ✅ Fact Checked by

Lisamarie Monaco | Editorial Disclosure

If you are in search of burial Insurance For Seniors Over 85, we are experts at this demographic and you came to the right place.

It’s never too late to protect themselves and their loved ones with life insurance. We found the best life insurance for seniors over 85 who don’t need a medical exam or waiting period, just call us now!!

My name is Danny Ray and I am a life insurance expert that has written over 9000 policies and has been in the investment/insurance industry for over 28 years.

I will explain the best options for burial Insurance For Seniors Over 85 when 99.9% of the agents will tell you there is nothing available.

Article Navigation

Do I need burial Insurance For Seniors Over 85
What is Final Expense and Burial Insurance
Best Life Insurance Companies For Seniors Over 85
How much will it cost if I am over age 85
How long is the waiting period
What Is The Contestability Clause In Life Insurance
Eligibility requirements for seniors over 85
Carrier application process for life insurance over 85
Conclusion

Do I need burial Insurance For Seniors Over 85

Can you get senior life insurance if you are 85 and over

For any 85-year old individual and over, the only type of life insurance available is whole life.

Due to your age and circumstances, only a few insurance types are available. No term or universal life insurance/accidental death coverage exists for seniors over 85!

Life insurance is a great way to protect your family from financial loss in case of death.

The whole life plan works like this:

Monthly premiums cannot maximum coverage, and it will remain active forever unless you choose otherwise!

As long as you meet all conditions, you can cancel anytime without penalty. The beneficiary(s) can receive unlimited, tax-free money of any kind when needed.

Well, now you’ve got the lowdown on how these plans work. There are no hidden tricks and if something does go wrong it’s all in one place for your review so stop stressing over every detail-we’ve got this!

What is Final Expense and Burial Insurance

Burial insurance is the same thing as a final expense, and funeral insurance. It’s like saying “dozen” or twelve to refer to a specific kind of life insurance that has been around for decades: Burials & Funerals Insurance!

In fact, all three names referring to these types mean pretty much what their name says.

Final Expense Insurance means just that; an inexpensive way (literally) to cover your funeral costs in case something happens at death with no survivors left behind.

However, burial insurance also covers one’s funeral if one dies unexpectedly.

Finally, there can be some confusion when people hear funeral, final expense, and burial insurance.

Nowadays, some people are looking for a permanent life insurance plan that has very lenient underwriting so they can still qualify.

The term “whole-life” simply means the policy covers your entire lifetime.

Best Life Insurance Companies For Seniors Over 85

Above all, when you are an 85-year-old and older, you are in a very small minority of people who can get life insurance.

The options that exist for coverage are up to $25K and there’s little else available on the market!

We have 3 products for our senior clients with one giving coverage at age 90.

That’s right!! Age 90!

Below are the top 3 products with two carriers that will give you coverage for an array of health impairments.

AETNA (ACI)

If you are healthy and looking for burial Insurance For Seniors Over 85 then this is the one for you.

They have three plans, Level, Graded, and Modified benefit plans. The level plan is all that is available for over age 85.

Level

Issues ages: 45-89
Minimum benefit amount: $2,000
Maximum benefit amount over 85: $25,000
Available in every state but NY, MA
No waiting period, Immediate coverage
Instant approval while on phone

AETNA/CVS Health (ACC)

Level (Preferred/Standard)

Issues ages: 40-89
Minimum benefit amount: $2,000
Maximum benefit amount over age 85: $25,000
Has Preferred and Standard Rate Class
Available in every state but NY, MA
No waiting period, Immediate coverage
Instant approval while on phone, Security question signature

It Covers COPD without oxygen with immediate coverage. Minor health issues as well. Only looks back 1-2 years for major health issues.

Guarantee Trust Life (GTL)

Graded Benefit

Issues age: 40-90
Minimum death benefit: $2,500
Maximum death benefit over 85: $10,000
Graded death benefits, (Death Benefit in year 1 is Premiums Paid plus 5%, Death Benefit in year 2 is 50% of the face amount, Death Benefit in year 3 is 100% of the face amount)
Pays FULL death benefit day one due to accident
Simple application, 6 questions, instant approval

This is a great option for people with recent health issues as it pays 50% of the death benefit in year two when no others would.

There are very few carriers that will cover over 85. Carriers like Foresters only offer policies up to age 80, and State Farm is no good other than for homeowners insurance and car insurance.

How much will it cost if I am over age 85

The following are final expense life insurance quotes and burial Insurance For Seniors Over 85.

Remember that you can buy life insurance coverage in any amount, but the higher your chosen level is ($2,000-$10,000), the more expensive it will be per month (high prices).

Below rates are for each gender with tobacco vs non tobacco rates.

Male Non Tobacco User

Apply Age	$5,000	$10,000	$20,000
86	$114.58	$225.82	$448.32
87	$133.74	$264.16	$524.98
88	$152.91	$302.49	$601.64
89	$172.08	$340.82	$678.31
90	$195.66	$387.32	N/A

Female Non Tobacco User

Apply Age	$5,000	$10,000	$20,000
86	$83.83	$164.33	$325.32
87	$100.16	$196.99	$390.65
88	$116.50	$229.66	$455.98
89	$132.83	$262.32	$521.31
90	$170.66	$337.32	N/A

Male Tobacco User

Apply Age	$5,000	$10,000	$20,000
86	$190.49	$377.65	$751.97
87	$218.49	$433.65	$863.97
88	$246.49	$489.65	$975.96
89	$274.49	$545.64	$1,087.96
90	$195.66	$387.32	N/A

Female Tobacco User

Apply Age	$5,000	$10,000	$20,000
86	$125.58	$247.82	$492.31
87	$145.33	$287.32	$571.31
88	$165.08	$326.82	$650.31
89	$184.83	$366.32	$729.30
90	$170.66	$337.32	N/A

How long is the waiting period

The bottom line is that life insurance for seniors over 85 has either immediate coverage or a waiting period of two years. This is depending on health.

Find out if you qualify and have a pre-approval emailed to you, CLICK HERE.

If the insured passes from non-accidental causes during a graded period, there’s no payout. Instead, they’ll return all premiums with 5% interest in year one, and 50% of the death benefit in year two.

At age 85 and over, life insurance is a must-have for every elderly individual. If they decline you outright on the spot without even considering this option, you’ll have immediate day one coverage or no coverage at all!

What Is The Contestability Clause In Life Insurance

An incontestability clause is present in all whole, universal and term life insurance policies regardless of their type or issuer.

This clause allows insurance companies to investigate suspicious deaths in the first two years, even if the deceased had no insurance with that company!

You cannot buy US-based coverage from ANY carrier where this provision exists unless you specifically request otherwise when purchasing your product.

If the insured dies within two years, an independent doctor reviews their health records. If the company finds no misrepresentation, they will pay the death benefit.

This is a tricky process and it’s important to be careful. But, if evidence of misrepresentation emerges, the company will neither pay out the policy nor provide any death benefit or refunds.

If you are honest, on your application, then there’s nothing to worry about. Your life insurance policy will pay out in full even if it were only active for two hours.

Let them do their investigation! The bottom line is – be upfront!

Eligibility requirements for seniors over 85

If you’re looking for parents’ life insurance coverage, don’t worry about the medical exam. In fact, no one should need an extensive physical when they’re above 85—just answer some health questions!

The good news is if you live in one of the states where coverage is indeed available, it’s time to answer some basic health questions.

Sadly if any of your answers are yes and there’s a decline at this age – then we may have to go graded.

Here are some of the examples of the health questions:

Are you currently

1) Confined in or been advised to enter a hospital, nursing home, skilled nursing facility, psychiatric facility, correctional facility?

2) Receiving or been advised to receive home health care or hospice?

3) Do you use a wheelchair or mobility scooter or do you have any physical or mental impairment requiring assistance from anyone with the following activities of daily living: taking medication, bathing, dressing, eating, toileting, getting in or out of bed, or chair, or moving about?

Within the past year have you:

1) Within the past year have you used or been advised to use oxygen equipment to assist with breathing (excluding CPAP for sleep apnea) or had or been advised to have kidney dialysis?

2) Have you been advised to have any medical procedure, surgery, or a diagnostic test which has not yet been started, completed, or for which results are not known, excluding tests related to the Human Immunodeficiency Virus (HIV)?

3) Did you receive an organ or bone marrow transplant or were you advised to receive one as a result of a diabetes-related disease or complication?

4) Have you ever been diagnosed by a member of the medical profession or testedpos1t1ve_for Human Immunodeficiency Virus (AIDS virus), AIDS Related Complex (ARC), or Acquired Immune Deficiency Syndrome (AIDS)?

Have you ever been diagnosed with, received, or been advised to receive treatment or medication for:

1) Amyotrophic Lateral Sclerosis (Lou Gehrig’s Disease), Huntington’s Disease, or sickle cell anemia?

2) Alzheimer’s disease, dementia or mental incapacity?

3) Congestive heart failure, pulmonary fibrosis, any terminal condition, or end-stage disease?

4) Cerebral palsy, cystic fibrosis, muscular dystrophy, or un-operated heart defects?

5) Within the past 2 years have you been diagnosed with, received, or been advised to receive chemotherapy or radiation for any form of cancer (excluding Basal or Squamous cell skin cancer)?

6) Have you ever been diagnosed with more than one occurrence of the same or different type of cancer?

Have you been diagnosed with, received, or been advised to receive treatment or medication Within the past 2 years:

Have you misused alcohol or drugs, taken illegal substances, or faced a conviction for drunk driving?

Complications of diabetes such as diabetic coma, insulin shock, retinopathy (eye disorder), nephropathy (kidney disorder), or neuropathy (nerve, circulatory disorder)?

kidney or liver disease?

Over the past year, have you been diagnosed, treated, or advised to seek treatment for:

Angina (chest pain), heart attack, cardiomyopathy, or any type of heart or circulatory procedure or surgery?

Stroke or transient ischemic attack (TIA/mini-stroke), aneurysm, or brain tumor?

In the past 2 years, have you received a diagnosis, treatment, or advice to get treatment for:

Angina (chest pain), heart attack, cardiomyopathy, or any type of heart or circulatory procedure or surgery?

Stroke or transient ischemic attack (TIA/mini-stroke), aneurysm, or brain tumor?

Have you ever received a diagnosis, treatment, or advice to get treatment or medication for:

Parkinson’s disease, Multiple Sclerosis, or Systemic Lupus (SLE)?

Chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, or any other chronic respiratory condition?

Will they check my medications

The insurance company will check your prescription history online to understand your health issues.

For example: if I say no to the question about dementia but fill a previous prescription for drugs that are related in some way (or even just listed under “Dementia”), then they’ll decline me!

The company’s deep understanding of medication usage will shape your qualification process.

Carrier application process for life insurance over 85

If you are wondering about the process of applying for the elderly over 85, we have the most efficient process!

Both AETNA (ACC), AETNA (ACI), and Guarantee Trust Life have the most efficient, and quickest applications in the industry.

In fact, it’s so simple you will probably pinch yourself when it is over to see if you weren’t dreaming!

AETNA Application Process

We can complete 99% of your AETNA CVS/Health or ACI work through email, but I’ll need to call before we submit it.

Verify your information (Beneficairy/Payment Date) etc
Signature is done by a “Security Questions”, for example: What street did you grow up on?
Then Automated underwriting takes over, your are approved with policy number in seconds!

GTL Application Process

With GTL, verifying is easy. We call the automated service at (866) 839-5132, which then asks the following questions:

Full name
Last 4 digits of social security number/
Date of birth
Second applicant’s name (if applicable)
Application for GTL product and additional GTL products if applicable
Insurance agency Record’s name
Verbal response acknowledging they understood the questions on the application
and answered them truthfully.
Verbal response acknowledging they understand that, if their application for insurance
coverage is approved, regular premium payments are required to maintain coverage.

Then we are off the phone, then we fill out the application that has these qualifying questions:

Within the last twenty four (24) months, have you been receiving kidney dialysis, require daily
oxygen use (excluding CPAP), have an implanted defibrillator or received or been advised by a
licensed member of the medical profession to get an organ transplant?
Has a licensed medical professional ever diagnosed or treated you for Alzheimer’s disease or dementia, or are you currently receiving treatment for memory loss?
In the last twenty-four months, has a licensed medical professional diagnosed you with cancer, prescribed medication for it, or provided you with treatment?
(excluding Stage A Prostate Cancer, Carcinoma in Situ, Squamous Cell or Basal Cell
Carcinoma)?
Have you ever had or been recommended by a licensed member of the medical profession to
have an amputation due to complications from diabetes?  Yes  No
Are you currently bedridden, confined to a hospital, nursing home, mental care facility, long term
care facility, hospice or have you been diagnosed with an end-stage or terminal illness, or been
told by a licensed member of the medical profession that you have less than 12 months to live?
In the past 10 years have you been tested positive for exposure to the HIV infection or been
Diagnosed by a physician as having ARC or AIDS caused by the HIV infection or other sickness or
condition derived from such infection?

Conclusion

It’s never too late to protect themselves and their loved ones with life insurance. Find affordable life and burial insurance for seniors over 85. Compare our easy, secure plans for tough times now.

Just call us now and let our team of experts help you get the coverage your family deserves! Get Quote by filling out the form on the right!