12 Best Life Insurance for Seniors​

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Key Takeaways: Your Fast-Reference Answers 💡

Which company has the fewest complaints? Pacific Life came away with the fewest customer complaints within the past three years, relative to its size.

Who pays the biggest dividends on whole life? MassMutual reported a record $2.5 billion dividend payout in 2025, with whole life customers receiving dividends annually since 1869.

Can I get coverage without a medical exam? Yes. Mutual of Omaha has the best no-exam term life insurance for seniors with up to $300,000 in coverage, accepting applicants up to 80 years old.

What’s the maximum age I can apply? Some whole life and universal policies are available up to age 90.

How much will it cost at 65? For $250,000 in coverage, non-smoking males ages 65 to 70 pay an average of $109 to $191 monthly, while females pay between $73 and $124 monthly.

Where do I complain if something goes wrong? Every U.S. state, the District of Columbia, and five U.S. territories have a Department of Insurance dedicated to helping consumers, and it’s a free public resource.

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🏆 1. MassMutual: the Dividend Powerhouse That Has Paid Out Every Single Year Since 1869

If you’re a senior looking for whole life insurance that genuinely builds value over time, MassMutual sits in a class almost entirely by itself. MassMutual has announced its largest dividend payout in company history at more than $2.50 billion for 2025, with an increased dividend interest rate of 6.40 percent. That’s not a marketing promise — it’s a 157-year track record of actually putting money back into policyholders’ hands.

MassMutual has a low customer complaint rate with the National Association of Insurance Commissioners, meaning that for a company of its size, it gets relatively few complaints, indicating a good customer experience.

In terms of financial stability, MassMutual maintains A.M. Best ratings of A-plus-plus, which is their highest designation of Superior, supported by $27.90 billion in surplus and $33.20 billion in total adjusted capital.

What to know: On average, a $100,000 twenty-year term policy costs about $94 a month for a healthy, nonsmoking 65-year-old. To get a quote, you’ll need to speak with one of their 6,500 financial professionals — there’s no fully online application. Phone: 1-800-272-2216.

Strength	Limitation	💡 Best For
Record $2.5 billion dividend payout	No online quotes or applications	Seniors who want whole life with genuine cash value growth 💰
A.M. Best: A++ (Superior)	No final expense-specific product	Those prioritizing financial strength above all else 🏦
Complaint ratio well below the national average according to the NAIC	Must work with a financial professional	Seniors comfortable with agent-guided purchasing 🤝

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🛡️ 2. State Farm: Same-Day Approval and Second-Highest Customer Satisfaction in America

Speed matters when you’re a senior buying life insurance, because every day without coverage is a day of unnecessary risk. State Farm receives fewer complaints than expected for a company of its size according to the NAIC, and it earned the second-highest spot in J.D. Power’s 2025 Individual Life Insurance Study, which surveys customers’ satisfaction with value, ease of doing business, product offerings, and more.

You can buy a State Farm policy the same day you apply, and premiums can be paid monthly or annually. That same-day turnaround is extraordinarily rare in the industry, and it matters enormously for seniors who don’t want to wait weeks wondering whether they’ve been approved.

What to know: State Farm is licensed to sell life insurance in all U.S. states except Massachusetts and Rhode Island. They offer term, whole, universal, joint universal, and final expense policies. Phone: 1-800-782-8332.

Strength	Limitation	💡 Best For
Same-day policy approval ⚡	A 30-year term policy isn’t available to seniors because the max issue age is 45 for that term length	Seniors who need coverage immediately 🕐
J.D. Power second-highest ranking	Not available in Massachusetts or Rhode Island	Those who value customer satisfaction above everything 🌟
Nearly a dozen life insurance products	Renewal premiums increase each year after term expires	Seniors wanting variety in policy options 📋

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📊 3. Mutual of Omaha: the Best No-Exam Option for Seniors Up to Age 80

Here’s the company that solves one of the most painful problems seniors face: getting coverage when your health isn’t perfect. Mutual of Omaha has the best no-exam term life insurance for seniors with up to $300,000 in coverage, accepting applicants up to 80 years old.

It earns a J.D. Power customer satisfaction score of 659, placing sixth overall, and maintains an excellent NAIC complaint index of just 0.51. Its A-plus ratings from the Better Business Bureau and A.M. Best demonstrate reliability.

They also offer a guaranteed issue whole life product called Living Promise, which is a critical option for seniors who’ve been declined elsewhere. Mutual of Omaha’s Living Promise Whole Life provides permanent coverage for final expenses, available for ages 45 to 85, with face amounts up to $50,000.

What to know: For a 65-year-old woman, the average monthly cost for $100,000 in no-exam term coverage is $109, and for men of the same age, $152. Phone: 1-800-775-6000 (automated service available 24/7; live representatives available 8 a.m. to 8 p.m. seven days a week).

Strength	Limitation	💡 Best For
No-exam coverage up to $300,000	No-exam premiums are higher than fully underwritten	Seniors who can’t or don’t want to take a medical exam 🩺
NAIC complaint index of just 0.51	Guaranteed whole life has a two-year waiting period for natural-cause deaths	Those with pre-existing conditions 💊
Guaranteed issue available ages 45-85	Maximum guaranteed issue coverage only $25,000	Final expense coverage without health questions ✅

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🌲 4. Northwestern Mutual: Holistic Financial Planning Beyond Just a Policy

Northwestern Mutual stands out from many companies because it supports customers with financial planning, insurance, and investments. While its advisors offer comprehensive life insurance planning, they can also provide holistic financial support.

This is meaningful for seniors who aren’t just buying a policy — they’re trying to figure out how life insurance fits alongside Social Security, pensions, retirement accounts, and estate planning. Northwestern Mutual has a low NAIC customer complaint rate, meaning it receives few complaints for a company of its size and the number of policyholders it serves.

What to know: You can’t get a quote online. Everything goes through an advisor, which some seniors will love and others will find frustrating. Phone: 1-866-950-4644.

Strength	Limitation	💡 Best For
Comprehensive financial planning included 📈	No online quotes or applications	Seniors who want an all-in-one financial advisor relationship 🧮
Low NAIC complaint rate	Policy details not publicly listed online	Those who value personalized guidance over digital tools 👤
Strong dividend-paying whole life	Higher premiums than some competitors	Estate planning and wealth transfer strategies 🏠

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🗽 5. New York Life: the Largest Mutual Life Insurer in America With Aarp Partnership

New York Life has a low rate of customer complaints reported to the NAIC, meaning it receives few complaints in relation to the number of policyholders it serves. And there’s one feature that specifically benefits seniors: Aarp members have access to life insurance offers through New York Life, with $25,000 in coverage to help with funeral costs, cremation, medical and legal bills, and other end-of-life expenses.

If you’re already an Aarp member, this is a pathway to coverage that comes with built-in trust and simplified access. Phone: 1-800-225-5695 (general); Aarp life insurance line: 1-800-956-0896.

Strength	Limitation	💡 Best For
Largest mutual life insurer in the U.S.	Some policy options require agent interaction	Aarp members wanting simplified final expense coverage 🎫
Low NAIC complaint rate	Premiums can be higher than smaller competitors	Seniors who prioritize company longevity and stability 🏛️
Living benefits rider included	Limited online self-service options	Those wanting a trusted household name 🌟

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🌊 6. Pacific Life: the Fewest Customer Complaints of Any Senior Insurer We Studied

This is the company that wins on raw customer service data. Of all the life insurance companies for seniors surveyed, Pacific Life came away with the fewest customer complaints within the past three years, relative to its size. The carrier dates back to 1868 and has received excellent ratings for financial stability and customer service alike.

Pacific Life offers several types of universal life insurance policies: indexed universal, survivorship indexed universal, variable universal, and traditional universal.

What to know: Policies are sold through independent financial professionals, not directly. Pacific Life offers an accelerated death benefit included at no charge. Phone: 1-800-800-7681.

Strength	Limitation	💡 Best For
Fewest complaints relative to size	Customer service center is in California, harder for East Coast customers during business hours	Seniors who rank customer service as their top priority 🏅
Free accelerated death benefit rider	No online quotes or direct applications	Those wanting universal life with investment growth 📊
A-plus financial strength rating	Must work with independent advisor	Seniors comfortable with advisor-based purchasing 🤝

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💎 7. Guardian Life: J.D. Power Recognition for 14 Consecutive Years

Guardian ranked number two out of 21 companies in J.D. Power’s 2024 U.S. Life Insurance Study for overall customer satisfaction, and earned recognition from J.D. Power for 14 consecutive years for outstanding customer service.

However, you need to know the flip side: The Better Business Bureau reports 205 total complaints over the past three years, and Guardian’s customer review rating stands at just 1.06 out of 5 stars based on 80 customer reviews. Customer reviews reveal recurring issues with claim processing delays and communication challenges.

What to know: Guardian Life has a low customer complaint rating with the NAIC, indicating that it offers quality service to its policyholders. Phone: 1-888-482-7342.

Strength	Limitation	💡 Best For
14 consecutive years of J.D. Power recognition	BBB customer rating just 1.06 out of 5 stars	Seniors who value industry-recognized satisfaction data 📋
Low NAIC complaint ratio	Recurring issues with claim processing delays	Those who want comprehensive policy options ⚙️
Strong financial stability ratings	No online applications — agent only	Seniors who don’t mind agent-guided processes 🗣️

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💵 8. Sbli: the Most Affordable Term Life for Seniors, Period

If budget is your number one concern — and on a fixed income, it often is — this is where you look first. Sbli is the most affordable term life insurance for seniors. A 65-year-old woman pays just $77 monthly on average for $100,000 in coverage, while men of the same age pay $109.

Policies are available up to $10 million for applicants ages 18 to 75, and Sbli holds an A financial strength rating from A.M. Best and an A-plus rating from the Better Business Bureau.

What to know: Their NAIC complaint index of 1.08 is slightly higher than some competitors, but their low rates often offset this concern. Phone: 1-888-438-7254.

Strength	Limitation	💡 Best For
Lowest average premiums for seniors 💲	Complaint index slightly above average	Seniors on fixed incomes who prioritize affordability 🏷️
Coverage available up to $10 million	Max issue age of 75	Those under 75 who want maximum coverage per dollar 📈
A-plus BBB rating	Less brand recognition than major names	Budget-conscious seniors who do their own research 🔍

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🔄 9. Corebridge Financial (formerly Aig): the Best Conversion Option for Seniors

Corebridge is an excellent company for seniors because their term life insurance policies offer a conversion option until age 70. This allows a policyholder to convert up to the full face amount of their term policy into permanent coverage without reproving insurability.

This matters enormously. Imagine buying a term policy at 60, then at 68 being diagnosed with a serious condition. With Corebridge, you can convert that policy to permanent coverage without a single new health question.

What to know: Unfortunately, Corebridge is not known for outstanding customer service. In 2024, J.D. Power awarded the company only 575 out of 1,000 points, ranking them in last place out of the 21 companies reviewed. However, in over 100 years, the company has never failed to pay a valid death claim. Phone: 1-800-448-2542.

Strength	Limitation	💡 Best For
Conversion option without medical re-qualification until 70 🔁	Last place in J.D. Power satisfaction rankings	Seniors wanting flexibility to switch from term to permanent 🔀
Guaranteed issue whole life available	Customer experience may be frustrating	Those who prioritize never having a valid claim denied ✅
100+ year claim-paying history	Spun off from Aig in 2022 — newer brand identity	Seniors who value financial reliability over brand warmth 🏦

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🩺 10. Prudential: the Best Option for Seniors With Pre-Existing Conditions

Prudential is the best company for seniors who have pre-existing conditions. They offer more lenient build guidelines to those who are older and are very lenient with a variety of age-related health issues like hypertension, high cholesterol, prostate issues, and diabetes.

Prudential may be a great company for seniors looking to customize their policies, as policyholders may be able to choose from over a dozen riders, including overloan protection and survivorship benefit access.

What to know: Prudential’s 2024 J.D. Power score is below average and its NAIC complaint index is high, so potential customers may want to speak with existing policyholders about their customer service experience. Phone: 1-800-778-2255.

Strength	Limitation	💡 Best For
Most lenient underwriting for age-related conditions	Below-average J.D. Power score and high NAIC complaint index	Seniors with diabetes, hypertension, or cholesterol issues 🩺
Over a dozen rider options available	Customer service reputation is mixed	Those who want highly customizable policies ⚙️
Local agents across the country	Higher premiums for the flexibility offered	Seniors who’ve been declined elsewhere and need options 🚪

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🏔️ 11. Protective Life: Aggressive Pricing on Guaranteed Universal Life

Protective Life offers some of the best life insurance rates for seniors and affordable options for lifetime coverage. The company is best known for their aggressive rates and guaranteed universal life policies that allow the insured to lock in their rates until age 90 or later.

Locking in premiums that never change — potentially for 25 or 30 years — is a genuinely powerful feature for anyone on a fixed income.

What to know: Protective scored 768 out of 1,000 in J.D. Power’s 2024 Life Insurance Study, below the industry average of 790, and their BBB customer review rating sits at just 1.17 out of 5 stars based on 118 customer reviews. Phone: 1-800-866-3555.

Strength	Limitation	💡 Best For
Lock in rates until age 90 or later	Below industry average on J.D. Power satisfaction	Budget-conscious seniors wanting guaranteed premiums 🔒
Competitive guaranteed universal life pricing	BBB customer review rating of 1.17 out of 5	Those prioritizing affordability over customer experience 💲
Strong A-plus A.M. Best rating	Online experience feels outdated	Seniors comfortable working with independent agents 📞

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🌿 12. Banner Life (Legal and General): Remarkably Clean Complaint Record

In 2024, Banner Life and its parent company Legal and General paid nearly $1 billion in claims to over 3,500 families and businesses. Despite its size, the Better Business Bureau recorded only one complaint for Banner Life during 2024, and the company holds an A-plus rating. Banner Life was recently ranked 95 out of 100 by Comdex.

One complaint. For an entire year. For a company that paid out nearly a billion dollars in claims. That’s an almost unheard-of track record.

What to know: Banner Life specializes in term life, making it an excellent choice for seniors who specifically want affordable, no-frills term coverage. Phone: 1-800-638-8428.

Strength	Limitation	💡 Best For
Only one BBB complaint in all of 2024	Primarily focused on term life	Seniors wanting the cleanest complaint record possible ✨
Paid $1 billion in claims in 2024	Less brand recognition than major names	Those who want proven claim-paying performance 💵
Comdex ranking of 95 out of 100	Limited permanent life options	Term-focused seniors who value simplicity 📄

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⚠️ The Scam Epidemic Targeting Seniors Shopping for Life Insurance — and How to Protect Yourself

This section might save you more money than any policy on this list. In 2024, older adults reported losing far more money to investment scams than to any other fraud type, often reporting that the scammers targeted them on social media. The FTC estimates the real losses experienced by older adults in 2024 may be as much as $81.5 billion.

From 2020 to 2024, the number of reports from older adults who lost $10,000 or more to imposter scams increased more than fourfold, and when older adults reported losing more than $100,000, the number of reports increased nearly sevenfold, with combined reported losses going up eightfold.

How does this connect to life insurance? Scammers frequently use fake insurance offers, phony “policy review” calls, and fraudulent final expense pitches to access seniors’ bank accounts and personal information.

Scam Tactic	How to Spot It	🛡️ What to Do Instead
Unsolicited calls offering “free” policy reviews	Legitimate insurers don’t cold-call to “review” your policy	Hang up and call your insurer’s official number directly 📞
Pressure to pay immediately via wire or gift card	Scammers use cryptocurrency, bank transfers, and cash as payment methods	No legitimate insurer ever asks for gift cards or crypto ❌
Requests for Social Security numbers over the phone	Scammers often impersonate trusted government agencies	Never share personal info on an inbound call — call back yourself 🔐
“Limited time” offers creating urgency	Real policies don’t expire in 24 hours	Take your time. Consult your state insurance department first ⏰

💡 Critical Tip: Every state has a Department of Insurance that is a free public resource that can answer questions, resolve problems, and help you make informed decisions. If your insurer unfairly delays or denies your claim, your Department of Insurance can investigate the issue.

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🔎 Free Government Resources Every Senior Should Know About Before Buying

Most seniors don’t realize these tools exist, and they can fundamentally change how you shop for life insurance.

The NAIC’s free Life Insurance Policy Locator tool has received 886,727 requests nationwide, leading to 460,952 matches of life insurance policies or annuities, with companies reporting claim amounts of $10,117,434,892 through August 2024. That’s over $10 billion in unclaimed benefits connected to the rightful owners through a free tool.

The NAIC compiles closed, confirmed complaint information about insurance carriers from state insurance departments, and that information is available to consumers. You can look up information by state, company, and insurance type for the past three years.

Free Resource	What It Does	📞 How to Access It
NAIC Life Insurance Policy Locator	Finds lost or unclaimed policies from a deceased family member	Search online through the NAIC website — it’s free and confidential 🔍
NAIC Consumer Insurance Search	Look up any company’s complaints, financial health, and license status	Available online — compare multiple companies before buying 📊
Your State Department of Insurance	Free help with complaints, questions, policy disputes, and fraud	Contact the insurance department in the company’s home state for records of mergers, name changes, and current status 🏛️
FTC Consumer Sentinel Network	Report fraud and check for known scam patterns	Report at ReportFraud.ftc.gov or call 1-877-382-4357 🛡️

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💡 The Question Nobody Asks: Do You Actually Need Life Insurance as a Senior?

This is where we break from every other article on this topic. According to the 2024 Insurance Barometer Study from LIMRA and Life Happens, Baby Boomers generally express lower financial concerns than younger generations, reflecting their overall financial stability consisting of substantial equity and retirement savings.

Seniors without dependents or who have financially independent adult children might find that life insurance is unnecessary. In such cases, the primary purposes of life insurance — income replacement and debt coverage — may not apply.

That doesn’t mean it’s useless. But it means you should ask hard questions before spending money:

You Probably Need Coverage If…	You Might Not Need It If…	🎯 The Smart Move
You still carry a mortgage or significant debt	Your debts are paid off and savings cover final expenses	Calculate your actual debts versus liquid assets first 🧮
Your spouse depends on your Social Security income	Your spouse has independent retirement income	Run the numbers on the survivor benefit gap 📉
You want to leave a legacy or equalize inheritance	Your estate plan is already fully funded	Talk to an estate attorney before an insurance agent ⚖️
You need to cover final expenses ($7,000-$15,000 average)	You have savings specifically earmarked for this	A small final expense policy may be all you need 🪦

💡 Critical Tip: The NAIC advises you to never buy a policy you don’t understand. If you are given illustrations or booklets, save these materials with your policy. Make sure you understand the guarantees in your policy and the surrender penalties if you choose to drop the policy at any time.

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📞 Quick-Reference Contact Table: All 12 Companies at a Glance

Company	Phone	A.M. Best	Best For	Max Issue Age
MassMutual	1-800-272-2216	A++	Dividends and whole life 💰	Varies by product
State Farm	1-800-782-8332	A++	Same-day approval ⚡	Up to 90 (whole life)
Mutual of Omaha	1-800-775-6000	A+	No-exam coverage 🩺	80 (no-exam term)
Northwestern Mutual	1-866-950-4644	A++	Holistic financial planning 🧮	Varies by product
New York Life	1-800-225-5695	A++	Aarp members 🎫	Varies by product
Pacific Life	1-800-800-7681	A+	Fewest complaints 🏅	Varies by product
Guardian Life	1-888-482-7342	A++	J.D. Power satisfaction 📊	Varies by product
Sbli	1-888-438-7254	A	Lowest premiums 💲	75 (term)
Corebridge	1-800-448-2542	A	Term-to-permanent conversion 🔄	85 (guaranteed issue)
Prudential	1-800-778-2255	A+	Pre-existing conditions 💊	Varies by product
Protective Life	1-800-866-3555	A+	Locked-in premiums 🔒	90+ (GUL)
Banner Life	1-800-638-8428	A+	Cleanest complaint record ✨	75 (term)

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Final Thought: The NAIC recommends that you review your life insurance program every few years to keep up with changes in your income and needs, including a review of your net worth to reconsider the prospects your survivors may face when you pass away. The best life insurance company for you is the one that matches your actual financial situation today — not the one with the fanciest advertisement or the most aggressive salesperson. Use the free government tools. Check the complaint data yourself. And never, ever let anyone rush you into signing anything. Your financial security is worth the extra afternoon of research.