Best Life Insurance for Seniors Over 85 (Top 10 Companies in 2025)

The best life insurance for seniors over 85 comes from Mutual of Omaha, AIG, and Gerber Life, offering affordable rates and reliable coverage options.

Mutual of Omaha is the top pick overall, providing competitive pricing, guaranteed acceptance, and flexible policy tailored to seniors’ needs. AIG and Gerber Life also offer solid coverage with simple applications and dependable benefits.

Our Top 10 Company Picks: Best Life Insurance for Seniors Over 85

This guide reviews the top 10 companies, comparing content and benefits to help you find the most money-saving life insurance for seniors. It ensures that you choose the best policy for your needs. View this guide, “10 Best Life Insurance Companies,” for more details.

For affordability, the cheapest life insurance for seniors over 85 and elderly life insurance offer practical solutions, particularly when buying life insurance for elderly parents or exploring life insurance for senior citizens. If you want to explore your life insurance options, enter your ZIP code in our free tool to get started.

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#1 – Mutual of Omaha: Top Overall Pick

Pros

• Guaranteed Issue: Seniors over 85 do not need to undergo a medical exam.
• A+ Rating: Strong financial stability. Explore our “Mutual of Omaha Life Insurance Review” guide for additional details.
• Affordable Coverage: Minimum coverage starts at $49/month for seniors over 85.

Cons

• Limited Coverage Options: Fewer customization choices for seniors.
• Higher Premiums: A monthly premium of $125 for full coverage is considered relatively high for seniors.

#2 – AIG: Best for Flexible Options

Pros

• Flexible Plans: There are different policy options for seniors over 85.
• Strong rating: The company is financially stable. Visit our guide, “AIG Life Insurance Review,” for further insights.
• Discount: Save 12% when you bundle multiple policies for seniors.

Cons

• Higher cost: Minimum coverage starts at $54 per month for seniors.
• Fewer choices: Options are more limited for seniors over 85.

#3 – Gerber Life: Best for Final Expense

Pros

• Final Expense Focus: Simplified policies for final expenses for seniors over 85.
• A+ Rating: Strong financial stability. Refer to our guide, “Gerber Life Insurance Review,” for more information.
• Affordable: Minimum coverage starts at $43 per month for seniors.

Cons

• Limited Customization: Less flexibility in plans for seniors over 85.
• Lower Coverage: Coverage amounts might be insufficient for seniors.

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#4 – Colonial Penn: Best for Affordable Coverage

Pros

• Low Rates: Minimum coverage starts at $39/month for seniors over 85.
• A Rating: Financially stable. For more information, take a look at our guide, “Colonial Penn $9.95 Plan Reviews.”
• No Medical Exam: Easy qualification for seniors over 85.

Cons

• Limited Coverage: Lower coverage amounts for seniors.
• Higher Full Coverage Cost: $109 per month for full coverage for seniors.

#5 – Transamerica: Best for Flexible Coverage

Pros

• Customizable Plans: Flexible coverage options for seniors over 85.
  A+ Rating: Financially secure. Dive into our “Transamerica Life Insurance Company Review” guide for comprehensive details.
  Reliable Coverage: Minimum coverage starts at $55/month, which is great for seniors looking for quality coverage.

Cons

Expensive Full Coverage: At $132 monthly, full coverage might be high for seniors over 85.
Limited Senior Plans: There are fewer options available to meet the needs of seniors.

#6 – AARP: Best for Member Discounts

Pros

• Member Discounts: The discounts are available for AARP members over 85.
• A++ Rating: Highest financial rating. See our “AARP Life Insurance Company Review” guide for a deeper understanding.
• Comprehensive Coverage: Various policy options tailored for seniors over 85.

Cons

• Higher Premiums: Minimum coverage starts at $59/month for seniors.
• Member-only: Available only to AARP members over 85.

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#7 – AAA Life: Best for Member Benefits

Pros

• Member Benefits: Discounts are available for AAA members over 85.
• A Rating: Demonstrates strong financial stability. Find out more by reading our guide, “AAA Life Insurance Review.”
• Affordable: Minimum coverage starts at $45 per month for seniors.

Cons

• Higher Full Coverage Costs: Full coverage costs $113 per month for seniors.
• Member-only: Coverage is available exclusively to AAA members over 85.

#8 – State Farm: Best for Comprehensive Coverage

Pros

• Comprehensive Coverage: Many coverage options are available for seniors over 85.
• B Rating: Long-established reputation. Head to our “State Farm Life Insurance Review” guide for additional resources.
• 17% Bundling Discount: Available for seniors over 85 with multiple policies.

Cons

• Higher Premiums: $123 per month for full coverage for seniors.
• Less Focus on Seniors: Not explicitly tailored for seniors.

#9 – Prudential: Best for Strong Service

Pros

• Strong Service: Excellent customer support, especially for seniors over 85.
• A+ Rating: Financially secure. Learn more by exploring our guide, “Prudential Life Insurance Review.”
• Customizable Plans: Various policy options for seniors.

Cons

• Higher Premiums: $62/month for minimum coverage and $149/month for full coverage might be costly for seniors.
• Limited Affordable Options: Higher costs may not fit all budgets for seniors over 85.

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#10 – Foresters Financial: Best for Member Benefits

Pros

• Member Benefits: Extra benefits for members over 85.
• Rating: Financially stable. Get more details from our guide, “Foresters Life Insurance Company Review.”
• Affordable: Minimum coverage starts at $48 per month for seniors over 85.

Cons

• Limited Coverage Options: Fewer plans are available for seniors.
• Membership Required: Benefits are available only to members over 85.

Types of Life Insurance Available for Seniors

When you buy life insurance at 85 years old, your choices are restricted to burial and final expense policies. Final expense coverage is intended to help with the associated costs related to your death, such as burial, funeral, and medical bills, among others. The maximum death benefit amount you can purchase is $40,000.

Monthly Life Insurance Rates for Seniors 85+

However, most individuals buy $25,000 or less. Plans like life insurance for 85-year-old individuals and AARP life insurance for seniors over 85 often feature options requiring no medical exam. These policies are called simplified issues because there is no test or exam required to apply, only a few health questions you need to answer.

Since the carrier doesn’t have access to your medical tests, they will conduct a phone interview and use other public data reports to confirm your eligibility for coverage. Most companies will run reports from the Medical Information Bureau, driving history, and prescription search.

Burial Insurance

Burial insurance is permanent coverage that remains effective as long as premiums are paid. The premium is fixed and doesn’t change with age or health.

It also accumulates cash value over time, which can be accessed through loans or by surrendering the policy. Policies like final expense insurance for seniors over 85, whole life insurance for seniors, and AARP burial insurance ensure funds for end-of-life expenses without burdening families.

Life Insurance Discounts From the Top Providers for Seniors Over 85

Don’t rely on this too much, as with most whole life insurance, it takes more than a few years to build cash, and if you take a loan, you will not have enough for your beneficiaries when the time comes. Here are the three types of burial insurance:

• Level Benefit Plan: The level benefit plan, or immediate death benefit plan, pays 100% of the death benefit with no waiting period. It’s available to applicants in good health, without serious medical conditions.
• Modified Death Benefit: Also known as guaranteed issue life insurance, this plan requires no health questions and guarantees coverage, but is costly. If the insured dies within two years (excluding accidents), beneficiaries receive premiums paid plus 10% interest. It should be a last resort.
• Graded Benefit Plan: The graded benefit plan offers partial payouts in the first two years: 40% in the first year, 75% in the second, and 100% after. It’s for those with minor health issues and has higher premiums. Learn more by exploring our guide, “How does a death benefit work?“

Choosing the right burial insurance plan ensures your loved ones are financially protected. Explore your options to find the best fit for your needs.

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Applying for Coverage

After determining the coverage amount, carrier, and plan type, the process begins. You won’t undergo a medical exam for burial insurance coverage, but your broker will ask health questions to assess eligibility. They will help submit the application online or by fax. Browse our guide, “No Exam Life Insurance, for more details.

The insurer will conduct a background check, including a motor vehicle report, a Medical Information Bureau search, and a prescription history review to identify discrepancies. A phone interview, typically 15-20 minutes, will verify the application details. You’ll receive a decision, usually within 24 hours.

Life Insurance for Seniors Over 85

Life insurance for seniors over 85 typically includes guaranteed issue or whole life policies, as traditional options often require health assessments. These policies offer coverage without medical exams. Access our guide, “Life Insurance Cost by Age: How Your Age Impacts Life Insurance Premiums,” for full details.

🌟 Looking for hassle-free life insurance with guaranteed acceptance? No health questions, no medical exams, and no exclusions for pre-existing conditions. Watch now to learn more! 📽️ #LifeInsurance #ColonialPenn https://t.co/kNJkfe5ptY

— Colonial Penn Life Insurance Company (@Colonial_Penn) October 24, 2024

Premiums tend to be higher for seniors, but providers like Mutual of Omaha, AIG, and Gerber Life offer affordable plans starting at $39.

Options such as life insurance for seniors over 75, life insurance for seniors over 90, and life insurance for over 85 years old address the unique needs of older adults.

Case Studies: Life Insurance for Seniors Over 85

Here are examples of how seniors over 85 found affordable life insurance to suit their needs and protect their families. To discover more, check out our guide, “Types of Life Insurance: Find the Right Policy for Your Needs.”

• Case Study #1 – John and Mutual of Omaha: At 87, John wanted an affordable life insurance policy. He chose Mutual of Omaha because of its low rates, starting at $39, and no medical exams. It gave him guaranteed coverage and peace of mind.
• Case Study #2 – Susan and AIG: Susan, 90, needed life insurance but had health problems. She went with AIG because their guaranteed issue policy didn’t ask for a medical exam and still gave her the coverage she wanted to take care of her family.
• Case Study #3 – Robert and Gerber Life: At 85, Robert chose Gerber Life for its simple process and affordable payments. Now, he feels good knowing his family will have extra support when they need it.

These examples show that even seniors over 85 can find reliable, affordable, and easy-to-get life insurance with the right provider. Simplify your life insurance shopping by entering your ZIP code into our free quote comparison tool and find coverage that fits your budget and needs.

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