Is there a maximum age for senior life insurance policies?

Today there is the possibility of having life insurance for people over 65, even individuals over 70, or in some cases up to 80 years of age.  So, we can essentially talk about life insurance without virtually any age limit.

Senior life insurance policies image 43444444If you are 65, 70, or older, or know someone and want to know how much senior life insurance costs, the first thing you need to know is that they exist. There are certain circumstances that allow it.

Today, there are many people over 65 who still have financial responsibilities or commitments, such as mortgages to pay. For them, having life insurance for payment protection is an essential part of the loan arrangement.

Considerations before hiring

Over the past one-hundred years, life expectancy across most of the world has increased significantly. In many countries, lifespans are a couple of decades longer now than they were during the first quarter of the twentieth century.

Even though most of us are currently living longer, mainly as a result of breakthroughs in medical practice and technology, our risk of unexpected death still exists.

Hence, the relevance of having life insurance that can economically protect your family or beneficiaries in case of an unfavourable event.

If you would like to find out more about senior life insurance, detailed info is available at

Senior life insurance – points to consider

Sum insured

Work out how much money is required to protect your dependents if you are no longer there as a provider. It is important that when establishing this amount in your insurance policy, you take into account the following:

  1. The number of people who depend on you and their age.
  2. How much your household expenses come to each month.
  3. If a dependant is studying or will do so in the future, how much it costs (or will cost).
  4. Your monthly salary.

You will have an overview of the real and future expenses that your family or beneficiaries will need to meet if you die. You will then be able to make sure that their standard of living does not deteriorate if you were to die undexpectedly. Make sure you can afford to pay the monthly, quarterly, or annual premiums.


The premium or insurance premium is how much you pay for an insurance policy. In the world of insurance, as in many other sectors, expensive does not necessarily mean better. Check out the terms, benefits, and conditions of various policies before making up your mind.

How much you pay typically depends on the sum insured, your age, sex, activities and hobbiies, health status, and the type of job you have.


The term coverage refers to what your policy pays for. For example, a health insurance coverage might pay for the cost of medications, hospital stays, operations, and doctors’ fees. A basic life insurance policy pays out money if somebody dies.

Some policies may also provide money for, for example, funeral expenses, terminal illnesses, and disability.


In this context, a beneficiary is somebody who receives money from your insurance policy if something unpleasant and unexpected, happens to you.

When you complete your policy form, make sure you do the following:

  1. Write the full name of each person clearly and precisely, specifying what percentage of the total each beneficiary receives. The total for everybody must come to 100%.
  2. Do not choose minors as beneficiaries.
  3. Do not designate beneficiaries who receive money to give to somebody else. They are under no legal obligation to do so.

Save with your insurance

Some policies have what we call an endowment policy. This combines savings with protection. If you are still alive at the end of the term, you will receive a lump sum (money), as long as the survival coverage is in the contract. If you die before the policy term ends, the money will go to your beneficiaries.

Compare and choose

Before taking out senior life insurance, find out and compare options. Find out everything you can about each policy, such as special fees, penalites, special circumstances, etc. Remember that the right insurance policy is one that protects your dependents if you die.