Updated: September 17, 2019

Life Insurance for People Aged 70 and Over

Looking for life insurance over for over-75s? There are a range of options for people in this age bracket! Read our guide to find out what they are

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Richard Angliss

Author: Richard Angliss - Finance Expert

Updated: September 17, 2019

As the average UK life expectancy continues to rise, life insurance for people in their 70s is becoming increasingly popular.

In this article, you find out how life insurance for those over 70 works. You’ll learn about the different types of life insurance, and how to assess which type of policy might be right for you.

In this article we discuss:

What you need to know

People are living longer than ever, which means life insurance for 70 year olds is becoming more common.

Life insurance comes in many forms – the kind you may wish to take out will depend entirely on your needs and circumstances.

Below we’ll outline how to decide on whether life insurance is right for you.

Should I get life insurance?

That depends entirely upon your needs and circumstances.

Remember – life insurance becomes increasingly expensive as you age, which means that, if you buy the wrong policy, it could cost more in premiums than your plan pays out upon your death.

Still – with the right product, the premiums could well be worth it.

Here are four questions to ask yourself before considering life insurance.

  • Do you have people who depend on you financially?
    This is a big one. If you have people who depend on your income, you shouldn’t rely on the government to take care of them when you die.
    If you have dependent family members, such as children or a partner who depends on you, life insurance could be a great way to ensure that they’re protected when you pass away.
    Similarly – if you run, or have a stake in a business, there are life insurance policies that can help provide for your business or staff.
  • Do you want to leave money as a legacy but are worried about inheritance tax?
    If you intend to leave money behind, life insurance can help to offset the often hefty bill incurred by inheritance tax (IHT).
    If you’re interested in life insurance due to concerns about IHT costs for your family, you could talk to an expert advisor about using a trust.
  • Do you have any large debts that you want to clear?
    If you pass on and still have large outstanding debts, such as a mortgage or personal loan, the onus to make the payments could fall upon your family. Life insurance could help to lessen the financial strain on your family.
  • Are you only looking to cover the cost of your funeral?
    If you’re only looking to cover the costs of your funeral, you may wish to consider funeral insurance. This, typically, will cost you less in premiums.

What types of life insurance are available?

There are three main types of life insurance available for people over 70.

  • Term life insurance – this is cover that lasts for a specific ‘term’ (eg. 25 years, or until you turn 75). If you die within the period of the term, your family is entitled to a lump sum, but not if you pass away after the term expires.
    Many term life policies have an upper limit – ie. coverage stops at age 85. So, if you took out a policy when you were 70, it would only last 15 years. As such, it’s often more popular amongst people at the lower end of the 70s-and-over age bracket.
  • Whole of life insurance – this cover lasts, without a fixed end date, for as long as you live. In many schemes, you stop needing to pay premiums at a certain point, such as your 90th birthday. But some policies require you to continue paying monthly premiums until you die.
    Whole of life cover tends to cost more than term life insurance because, unlike term insurance, the policy guarantees a payout when you die. For this reason, it’s more popular amongst older people in the 70s+ age bracket.
  • Funeral life insurance – sometimes known as ‘funeral plans’ or ‘funeral cover’.  The best funeral life insurance plans are ones that are regulated by the Funeral Planning Authority (FPA).
    This is a kind of life insurance which pays out purely to cover the costs of a funeral (costs that can run into thousands of pounds). As such, these plans usually incur the smallest premiums, and pay out the least.

Once people reach their 80s, term life cover tends to be less popular than whole of life insurance. This is because few companies tend to offer cover beyond the age of 84, and those that do often charge excessive premiums.

A smaller number of products in both categories can be found all the way up to the age of 89. That said, the market is always changing and the expert brokers we work with keep an eye on all of the products at the top of the age range.

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Can I get over 70 life insurance with no medical exam?

Yes – not all insurers will require a medical exam. Medical checks are usually only a necessity if any aspects of your lifestyle, medical history or general health raise concerns for the insurer.

They may request one if there are any complications involved in the deal, such as a history of serious health conditions. You can read more on this in our guide to life insurance with no medical checks.

If you’re looking for life insurance without medical checks, one of the brokers that we work with may be able to find just the policy for you. Get in touch if you’d like to find out more.

Call 0808 189 0463 or make a quick online enquiry for a free, no obligation chat with an expert advisor.

Over 80s life insurance

As with other kinds of life insurance in the UK, life insurance for over 80 year olds is increasing in popularity as people live longer.

And, although life insurance for the over 80s is typically more expensive than insurance for someone in their 70s, it’s by no means uncommon.

As a general rule, the best deals on life insurance for over 80 year olds are reserved for non-smokers in relatively good health and without a serious health condition.

With over 80s life insurance, payouts tend to decrease the older you are. Life insurance also tends to get more expensive with every year, and in many instances, the number of products available dries up around the age of 85.

That said, with a little digging, policies going all the way up to age 89 may be available, but these are much less common.

To find an insurance provider when you’re looking for life insurance beyond the age of 80, it’s best to talk to an independent advisor with access to insurance providers across the whole UK, like the kind we work with. Call 0808 189 0463 for a free, no obligation chat.

Funeral life insurance for the over 80s

Funeral plans are a popular kind of life insurance for 80 year olds. This is because, in many instances, acceptance is guaranteed – regardless of the state of your health, or your age.

However, with many providers offering this kind of cover to people you need to be cautious that you’re paying for the cover you need.

To make sure you get the funeral cover you want, talk to an independent advisor before committing to something you’re not 100% sure about.

The advisors we work with will happily answer any questions you have and check the smallprint with you to ensure you get the funeral you want and avoid additional cost falling to your family.

Call 0808 189 0463 for free, no obligation advice.

Can I get life insurance over 80 with no medical exam?

It’s possible, though you may find it harder to get life insurance without a medical once you’re into your 80s. If it’s possible for you, one of the expert advisors we work with will help track it down.

Get in touch if you’d like to find out more.

Talk to an expert

If you have questions about life insurance cover and want to speak to an expert for the right advice, call 0808 189 0463 or make a quick online enquiry.

We’ll match you with an advisor experienced in arranging life insurance cover for people over 70. They’ll happily answer your questions, gather quotes from insurers across the UK and help you make an application if you decide it’s right for you.

The service we offer is free and there’s no obligation. Advisors we work with only get paid if you get a policy you’re happy with and, even then, it won’t cost you a penny.


Can I get life insurance if I’m over 70 years old with a pre-existing condition?

It’s possible. Poor health isn’t always a barrier. Pre-existing conditions, smoking and previous illnesses can reduce your options, but aren’t usually a total dealbreaker. A specialist may be able to find what you’re looking for.

How much is life insurance?

It’s hard to say. Any exact figures that you read online are, at best, an approximation that won’t take into account your unique medical history or circumstances. What’s more, these figures may also be out of date.

The best way to know for sure is to get in touch, one of the experts that we work with can look over your circumstances and get specific quotes based on your exact requirements.

Thing can change when you reach your mid-80s. This age bracket has some of the most expensive premiums, as the market tends to tail off around 89. However, as we’ve said before, the actual figures are always changing and any quote that you read online can only ever give you a very rough approximation.

Though life insurance at age 85 may be rare, there are still some providers that offer it. Speak to an expert if you’d like to know more.

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We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in life insurance. Ask us a question and we'll get the best expert to help.

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Richard Angliss

Richard Angliss

Finance Expert

About the author

Richard Angliss has made a career in financial services which stretches over 40 years.

His early career was spent learning about the various financial products and applying them to prudent advice, working for one of the largest life assurance and investment firms. After that he joined the financial services arm of a very well-known firm providing independent advice to their 8 million customers.

For the last 20 years he has been involved in building software solutions that help Advisers and clients work together to achieve good financial outcomes and helping to set up three independent advisory firms. He also has written many articles for financial services publications and provided commentary for newspaper journalists.

At an early stage in his career he realised the great satisfaction that comes with being able to help people achieve their goals and protect their families. “Regulation of financial services has hugely impacted on ensuring people get appropriate advice. The issue these days is access to that advice and just as importantly regular reviews to make sure that everything stays on track”.

With the growing development of online resources such as Online Money Advisor he sees a great future for people to access advice to make their pension and investment work harder for them.  Plus, of course, to ensure they have insurance products in place that will be required when unforeseen events happen.

He knows getting that balance right is crucial to prudent financial planning and the wellbeing of individuals and their families.

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FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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