Life Insurance for Seniors USA 2025: What to Buy (and Avoid)
Shopping for life insurance later in life requires clarity: what problem are you solving—income replacement, final expenses, or estate liquidity? Use official consumer guides and stick to policies you can maintain for the entire horizon you need.
1) Policy types you’ll actually use
- Term life: Lower premium, but coverage ends after the term. Check convertibility and maximum conversion age.
- Whole life: Level premiums with guaranteed death benefit and cash value; compare guarantees vs. dividends.
- Guaranteed-issue (no medical exam): Easy to qualify but higher cost and often a graded death benefit in first years.
2) Underwriting & price drivers
- Age bands and medical history (blood pressure, diabetes control, tobacco status) materially affect rate classes.
- For final-expense needs, compare guaranteed-issue vs. simplified-issue; read the graded benefit period carefully.
3) Must-read official resources
Before applying, read the NAIC Life Insurance Buyer’s Guide and your state insurance department guidance. Verify agent/insurer licensing on your state site and keep copies of all disclosures.
Senior checklist (quick)
- Define the benefit purpose (final expense? debt? estate?).
- Compare guarantees (premium, death benefit) and the graded period, if any.
- Confirm free-look period and replacement rules for your state.
References (official)
- NAIC — Life Insurance Buyer’s Guide (PDF) and consumer life pages.
- Your state insurance department website for licensing & complaints.
