1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    Yes, many companies allow you to purchase life insurance to age 85.  Depending on your health the premiums will vary.  Some may have a graded death benefit, meaning that your beneficiary would receive a reduced amount during the first 2 or 3 years the policy is in force.
    Answered on May 2, 2013
  2. 4470 POINTS
    Brandon Roberts
    Owner, The Insurance Pro Blog,
    While it's possible for an 80 year old to get life insurance, it can sometimes be a bit of a process.  At 80 one might still qualify for certain simplified issue policies.  Simplified issue simply means that the normal medical underwriting requirements might not be quite as invasive as they would otherwise be.

    If the individual is in superlative health, he or she can also entertain a fully underwritten policy, meaning he or she will undergo pretty extensive medical underwriting in order to qualify for the life insurance policy.  This would be the cheaper option per dollar of death benefit purchased, but requires the proposed insured to be in excellent health. 

    If someone this age is considering life insurance time is of the essence as many carriers cutoff eligibility after age 80 and many more cutoff at age 85.  Very few will go up to age 90, which is where almost all stop issuing policies.
    Answered on August 22, 2013
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