12 Best Term Life Insurance for Seniors

Key Takeaways: 10 Things You Need to Know Right Now 💡

1. Is term life even worth it after 60? Yes, but only if you need coverage for a specific financial obligation like a mortgage, spouse income replacement, or final expenses within a fixed timeline.

2. Which company has the lowest premiums for seniors? Nationwide consistently offers some of the most competitive rates, with 10-year term policies averaging around $121 per month for men and $86 for women at age 60-plus.

3. Can I get coverage without a medical exam? Yes. Companies like Nationwide, Ethos, and Corebridge Financial offer no-exam or simplified underwriting paths, though you’ll typically pay higher premiums or accept lower coverage limits.

4. What’s the maximum age I can still buy term life? Most carriers cap new term policies between ages 70 and 80, but Pacific Life allows renewals up to age 95 and State Farm accepts applicants up to 90 for certain products.

5. Which company has the fewest customer complaints? Guardian Life and Pacific Life both carry extremely low complaint indexes of 0.08 according to the most recent data tracked through the National Association of Insurance Commissioners.

6. Should I convert my term policy to whole life later? Only if your health declines and you can’t requalify. Conversion riders are valuable safety nets but permanent coverage costs significantly more.

7. How much coverage do most seniors actually buy? Most choose between $10,000 and $50,000 for final expenses, though seniors with mortgages or dependents often need $100,000 to $500,000 or more.

8. Are online quote tools accurate? They give estimates only. Your actual premium depends on health classification, medications, build, and sometimes even your driving record.

9. What’s the biggest mistake seniors make buying term life? Waiting too long. Every year you delay after 50, premiums increase roughly 8 to 10 percent. A 50-year-old male who waits until 65 can pay over $12,000 more for identical coverage.

10. Can my family actually collect without hassle? That depends entirely on the company’s claims process. Mutual of Omaha and Corebridge Financial have received repeated complaints about slow, confusing claims handling, while Guardian and Amica get praised for smoother payouts.

🏆 1. Guardian Life: The Quiet Giant With the Cleanest Record in the Industry

If you’ve never heard of Guardian Life, that’s partly by design. They don’t blast television commercials or plaster bus stops with their logo. But among industry professionals and independent analysts, Guardian consistently earns the kind of respect that flashier brands only wish they had.

Guardian holds the highest possible financial strength rating of A++ from A.M. Best and maintains the lowest complaint index among reviewed term life insurers at just 0.08. To put that in perspective, the industry average hovers around 1.0, meaning Guardian generates a fraction of the complaints you’d expect from a company its size. Ninety percent of customers report positive experiences in review forums.

What makes Guardian particularly valuable for seniors is the conversion window. You can convert your term policy to permanent coverage all the way until age 71, which is one year longer than most competitors allow. That extra year might sound minor, but for a 69-year-old diagnosed with a new health condition, it could mean the difference between keeping coverage and losing it entirely.

Guardian offers term lengths of 1, 10, 15, 20, or 30 years with coverage from $100,000 up to $5 million. Six rider options include accelerated death benefits, disability waiver, accidental death, and guaranteed insurability.

Feature	Details	💡 Insider Note
A.M. Best Rating	A++ (highest possible)	This is the gold standard. Period. 🏅
Complaint Index	0.08 (industry avg ~1.0)	Fewest complaints per premium dollar 📉
Max Issue Age	75 for term	Conversion to age 71 gives extra flexibility 🔄
Coverage Range	$100k – $5 million	Quote requires calling an agent, no online purchase ☎️

📞 Contact: 1-888-482-7342

💡 Pro Tip: Guardian’s term life calculator on their website doesn’t require any contact information to get an initial quote, which is rare. Use it before an agent ever calls you so you walk into the conversation informed.

🛡️ 2. Legal and General: The Overseas Powerhouse Americans Keep Overlooking

Here’s a company most Americans couldn’t name in a trivia game, yet it consistently beats domestic heavyweights on both price and flexibility for senior term life coverage.

Legal and General ranks as the top overall provider with a 4.8 score from MoneyGeek, offering a balanced mix of pricing, coverage flexibility, and financial strength. For a $250,000, 10-year term policy, women age 65 pay about $154 per month while men pay around $221.

What truly sets this company apart for seniors is the coverage ceiling and renewal flexibility. Coverage amounts reach up to $10 million, with term lengths ranging from 10 to 40 years for applicants ages 20 to 75, and policies may be renewed through age 99. That renewal limit alone obliterates most competitors, who cap renewals in the mid-80s.

The company also includes an accelerated death benefit at no extra cost, which pays a portion of the death benefit early if you’re diagnosed with a terminal illness. Five additional rider options let you customize for critical illness, disability income, and return of premium.

Feature	Details	💡 Insider Note
A.M. Best Rating	A (Excellent)	Strong but not the absolute top tier ⭐
Complaint Index	0.35 (below average)	Fewer complaints than most mid-size carriers 👍
Max Renewal Age	99	Nearly unmatched in the industry 🎯
Term Lengths	10 to 40 years	Seniors 60-65 can still access 15-year terms easily 📋

📞 Contact: 1-800-555-4235 (Banner Life/Legal and General America)

💡 Pro Tip: Legal and General’s accelerated underwriting program can dramatically shorten approval times if your health records are clean. Ask specifically about their “fast-track” option when applying.

💰 3. Nationwide: The Budget King That Also Skips the Needle

If you dread the idea of a medical exam, blood draw, and urine test just to get a term life quote, Nationwide might be your best friend in 2026.

Nationwide offers some of the most affordable life insurance rates for seniors, with a 10-year term policy at $500,000 coverage priced at $121 per month for men and $86 per month for women. Those numbers are difficult for competitors to match, especially considering that Nationwide lets you get up to $1.5 million in coverage without a medical exam through their simplified application process.

The rider package adds real value too. Nationwide’s policies include key riders like return of premium, waiver of premium, and guaranteed insurability, allowing you to adjust coverage as circumstances change. Bundling with other Nationwide products like auto or homeowners insurance may unlock additional discounts.

The catch? For term life, the maximum issue age is 55, which means most seniors over 55 cannot apply for a new Nationwide term policy. However, if you already have a Nationwide term policy or are in your early-to-mid 50s, this is an extraordinary value.

Feature	Details	💡 Insider Note
A.M. Best Rating	A+ (Superior)	Rock-solid financials 💪
No-Exam Limit	Up to $1.5 million	Highest no-exam ceiling among major carriers 🩺❌
Max Issue Age (Term)	55	Major limitation for older seniors ⚠️
Monthly Cost (Men 60)	~$121 for $500k/10yr	Among the cheapest available rates 💲

📞 Contact: 1-877-669-6877

💡 Pro Tip: If you’re 54 or younger reading this, do not wait. Lock in Nationwide’s rates now. Every birthday after 55 closes this particular door permanently.

🏛️ 4. New York Life: The 180-Year-Old Fortress That Issues Policies to Age 90

There’s a reason New York Life has survived the Civil War, the Great Depression, two World Wars, and the 2008 financial crisis. New York Life is one of few providers that issue policies to applicants up to age 90, and it ranks highly for both financial stability and customer satisfaction.

New York Life offers two distinct term products. Their Yearly Renewable Term starts at $250,000 coverage for ages 18 to 75 and renews annually. Their Level Premium Term offers $100,000 and up with fixed premiums for 10, 15, or 20-year terms. Both can be converted to permanent coverage, which is critical if your health deteriorates and requalifying becomes impossible.

The company also sells guaranteed issue policies for older adults through the partnership with a major membership organization, which don’t require a health questionnaire or medical exam.

The trade-off is transparency. You won’t find detailed pricing on their website. Getting a real quote requires speaking with an agent, which means you’re entering a sales conversation before you even know the numbers.

Feature	Details	💡 Insider Note
A.M. Best Rating	A++ (highest possible)	Among only a handful of carriers at this level 🏆
Max Issue Age	75 (term), 90 (other products)	Unmatched age accessibility 👴
Complaint Level	Below expected (per the regulatory body)	Fewer grievances than company size would predict ✅
Online Quotes	Not available	Must speak with agent — prepare your questions first 📝

📞 Contact: 1-800-710-7945

💡 Pro Tip: New York Life agents are captive, meaning they only sell their own products. That’s not necessarily bad, but always get competing quotes from independent brokers before committing.

🚀 5. Pacific Life: The Best Pick If Your Health Isn’t Perfect

Most insurance companies treat health conditions as reasons to charge you more or deny coverage entirely. Pacific Life takes a notably different approach.

Pacific Life ranks as the best term life insurance option for seniors with health concerns, carrying an A rating from A.M. Best and posting a complaint index of just 0.08. That complaint level ties with Guardian for the lowest among all reviewed carriers.

What separates Pacific Life for seniors is the renewal and conversion flexibility. Pacific Life offers affordable term life insurance for seniors that can be renewed up to age 95, and they also carry indexed and variable universal life insurance policies that build cash value early and can supplement retirement income.

One feature that sets Pacific Life apart is its Charitable Benefit Rider, which adds 1% to the policy’s death benefit, up to $100,000, paid directly to a designated charity without reducing the amount received by beneficiaries.

Feature	Details	💡 Insider Note
A.M. Best Rating	A+ (Superior)	Over 150 years in business 📜
Complaint Index	0.08	Tied for lowest in the industry 🏅
Max Renewal Age	95	Second only to Legal and General 🎯
Charitable Rider	Adds 1% to death benefit	Free money to a cause you love at no cost to your family ❤️

📞 Contact: 1-844-276-0193

💡 Pro Tip: Pacific Life evaluates your overall health picture rather than isolating individual conditions. If you’ve been declined elsewhere due to a single diagnosis like diabetes or a heart condition, Pacific Life should be your next call.

💎 6. MassMutual: The Dividend Machine for Long-Term Thinkers

MassMutual isn’t just selling you insurance. They’re essentially offering you a stake in their company’s performance.

MassMutual’s whole life customers are eligible to receive dividends, which the company has paid annually since 1869. In 2025, they reported a record $2.5 billion dividend payout. While dividends aren’t guaranteed, that unbroken streak spanning over 155 years tells you something about the company’s financial discipline.

For term life specifically, MassMutual offers 10, 20, and 30-year terms. The company earns an A++ financial strength rating and maintains a low complaint level of 0.111. Policies are available for seniors up to age 90 for their whole life products, though term eligibility is more limited.

The conversion option here is particularly strong. If you outlive your term and convert to a permanent policy, you won’t have to take another medical exam, which is enormous for seniors whose health may have changed since the original application.

Feature	Details	💡 Insider Note
A.M. Best Rating	A++ (highest possible)	Triple crown: financial strength, dividends, history 👑
Dividend Streak	155+ consecutive years	No other insurer comes close to this track record 📊
Complaint Index	0.111	Well below industry average 📉
Conversion Benefit	No new medical exam required	Huge safety net if health declines ⚕️

📞 Contact: 1-800-272-2216

💡 Pro Tip: Even if you buy term from MassMutual, ask about their “CoverPath” option, which bridges term and permanent coverage with a hybrid approach specifically designed for seniors who aren’t sure what they’ll need long-term.

⚡ 7. Sbli (Savings Bank Life Insurance): The Underdog With the Most Affordable Rates

This is the company your insurance agent probably never mentioned, and there’s a financial reason for that. Sbli pays lower commissions to agents, which is precisely why their premiums are some of the cheapest in America.

Sbli is the top pick for term life insurance for seniors with competitive rates, up to $5 million in maximum benefit, and no premium increases during the term. For seniors aged 65, monthly costs for a $250,000 10-year term run significantly below the industry average.

Sbli offers the most affordable rate for seniors over 70, which is a demographic that most carriers either ignore or overcharge dramatically.

The honest downside? Sbli’s complaint index of 1.08 sits above the industry average, meaning some customers do report service issues. All applicants require medical exams, so there’s no fast-track or simplified option. But if you’re healthy and want the lowest possible premium, the math is hard to argue with.

Feature	Details	💡 Insider Note
A.M. Best Rating	A (Excellent)	Solid but not A++ like some competitors ⭐
Max Coverage	$5 million+	Among the highest ceilings available 🏔️
Complaint Index	1.08	Above average — service can be spotty ⚠️
Medical Exam	Always required	No shortcuts, but savings justify the needle 💉

📞 Contact: 1-888-438-7254

💡 Pro Tip: Sbli was originally created by the state of Massachusetts to provide affordable coverage that banks wouldn’t offer. That consumer-first DNA still shows in their pricing. Just be prepared for a slower, more traditional application process.

🏢 8. Protective Life: The $50 Million Death Benefit Nobody Talks About

Most term life policies cap coverage at $1 million to $5 million. Protective Life doesn’t play by those rules.

Protective has the highest maximum death benefit in the rating, with term life insurance death benefits up to $50 million. That’s not a number most seniors need, but it tells you something important about the company’s underwriting capacity and financial reserves.

For more realistic senior needs, Protective leads on affordability in the 60-65 age bracket. Men in this range pay $51 to $100 monthly for a 10-year term with $100,000 coverage, while women pay $36 to $71.

Protective accepts whole life applicants up to age 80 and offers conversion from term to permanent without a new maximum death benefit cap. Term quotes are available online, though whole life quotes require agent interaction.

Feature	Details	💡 Insider Note
A.M. Best Rating	A+ (Superior)	Backed by Dai-ichi Life Holdings of Japan 🌏
Max Death Benefit (Term)	$50 million	Highest in the industry by a wide margin 🏔️
Best For Ages	60-65	Sweet spot for competitive pricing 🎯
Online Quotes	Available for term only	Whole life still requires an agent call 📱

📞 Contact: 1-800-866-9933

💡 Pro Tip: If you convert from Protective’s term to permanent coverage, there’s no maximum death benefit on the conversion. That means a $2 million term policy converts to a $2 million permanent policy without re-underwriting.

🖥️ 9. Ethos: The Digital-First Disruptor That’s Actually Backed by Real Muscle

Ethos looks and feels like a tech startup, but behind the sleek app interface sits Banner Life, which carries an A+ rating from A.M. Best. This matters because “digital-first” insurance companies have a reputation problem, and Ethos solves it by partnering with established carriers rather than going it alone.

Ethos offers the cheapest guaranteed acceptance life insurance for male and female seniors looking to avoid a medical exam. Their streamlined digital application can deliver approval in minutes, not weeks, which is a genuine game-changer for seniors who don’t want to spend a month in underwriting limbo.

For seniors who want a transparent, pressure-free buying experience without an agent hovering over them, Ethos is built for exactly that. The entire process from quote to policy can happen on your phone or computer.

Feature	Details	💡 Insider Note
Backing Carrier	Banner Life (A+ A.M. Best)	Don’t let the startup branding fool you 🔬
Medical Exam	Not required for many	Simplified underwriting speeds everything up ⚡
Best For	Guaranteed acceptance seekers	Cheapest no-exam option on the market 💲
Application Process	100% digital	No in-person meetings necessary 📱

📞 Contact: 1-415-322-4037

💡 Pro Tip: Ethos acts as a broker, not a carrier. That means they can match you with multiple underwriters behind the scenes. If one declines you, another might approve you, all without you filling out multiple applications.

🏦 10. Mutual of Omaha: The Household Name With a Customer Service Problem

Let’s be direct about Mutual of Omaha. The products are genuinely good. The customer service? That’s where the cracks show.

Mutual of Omaha offers no-medical-exam policies with guaranteed acceptance for applicants between 45 and 85, and their term life plans extend to age 80. The company’s online Mutual Cares platform provides seniors with free resources on wellness, estate planning, and more, which adds real non-insurance value.

But the complaint picture tells a different story. Many consumers were dissatisfied with the company’s claim resolution services, with most complaints centered around confusing claims processes and unhelpful customer service representatives.

If you buy from Mutual of Omaha, document everything. Keep copies of every form, record every phone call date, and get confirmations in writing.

Feature	Details	💡 Insider Note
A.M. Best Rating	A+ (Superior)	Strong financials aren’t the concern here 💪
Max Issue Age (Term)	80	Higher than most for term products 👴
No-Exam Available	Yes, guaranteed acceptance	Good for seniors with health complications 🩺
Customer Service	Mixed reviews, complaint-heavy	Document everything in writing ⚠️📝

📞 Contact: 1-800-775-6000

💡 Pro Tip: Mutual of Omaha is not available in New York state. If you’re a New York resident, you’ll need to look elsewhere entirely.

🦅 11. Corebridge Financial (formerly Aig Life and Retirement): The Senior Specialist With a Speed Advantage

Corebridge remains one of the few major insurers offering affordable coverage specifically designed for older adults in their early 60s who still need dependable, short-term protection.

What makes Corebridge interesting for seniors is the speed of approval. Some term policies can be delivered within 24 hours depending on age, health profile, and coverage amount. The company evaluates each application individually rather than using rigid approval tiers, which gives borderline applicants a better shot at coverage.

The guaranteed issue whole life option caps at $25,000, and like most guaranteed acceptance products, there’s a waiting period of two to three years during which your beneficiaries would get only a portion of the total death benefit.

Feature	Details	💡 Insider Note
A.M. Best Rating	A (Excellent)	Formerly AIG’s consumer division 🔄
Approval Speed	As fast as 24 hours	One of the fastest in the industry ⚡
Guaranteed Issue Cap	$25,000	Standard for this product category 📋
Best For	Early 60s, short-term needs	Not ideal for large coverage amounts 🎯

📞 Contact: 1-800-448-2542

💡 Pro Tip: Corebridge policies run through agents and broker platforms, but most steps are completed electronically. Ask your agent about the “immediate decision” pathway to see if you qualify for same-day approval.

🏰 12. Prudential: The 145-Year Veteran With the Best Smoker Rates

If you smoke or recently quit, most insurance companies will punish you with premiums that feel almost designed to make you give up on coverage entirely. Prudential takes a measurably different approach.

Prudential stands out for competitive smoker rates and more flexible underwriting, making it a strong fit for applicants with complex health profiles.

Prudential offers term life with conversion options to permanent coverage, which protects you if your health changes and you can’t requalify elsewhere. The company also introduced “Term-to-100” policies with fixed rates extending to age 100, blurring the line between term and permanent coverage in a way that benefits long-term planners.

Prudential has a 145-year history and offers overloan protection on certain policies, which shields you from a policy lapse if you’ve borrowed against your cash value and can’t repay.

Feature	Details	💡 Insider Note
A.M. Best Rating	A+ (Superior)	One of the largest individual life insurers in America 🏛️
Best For	Smokers, complex health	Most flexible underwriting for tobacco users 🚬
Term-to-100 Option	Available	Fixed rates until age 100, rare product 🎯
Quote Availability	May require agent	Not always transparent online 📞

📞 Contact: 1-800-778-2255

💡 Pro Tip: If you quit smoking 12 to 24 months ago, ask Prudential specifically about reclassification to non-smoker rates. The savings can be dramatic, sometimes cutting premiums by 50% or more.

🔍 The Master Comparison: All 12 Companies Side by Side

Company	A.M. Best	Complaint Level	Max Issue Age	No-Exam?	Best For	📞 Phone
Guardian Life 🏆	A++	0.08 (lowest)	75	No	Lowest complaints, 6 riders	1-888-482-7342
Legal and General 🌍	A	0.35	75 (renew to 99)	Accelerated UW	Renewal flexibility, long terms	1-800-555-4235
Nationwide 💰	A+	Low	55 (term)	Yes, up to $1.5m	No-exam, cheapest women’s rates	1-877-669-6877
New York Life 🏛️	A++	Below expected	75 (term), 90 (other)	Guaranteed issue avail.	Legacy carrier, age accessibility	1-800-710-7945
Pacific Life 🩺	A+	0.08 (lowest)	Renew to 95	No	Health concerns, charitable rider	1-844-276-0193
MassMutual 👑	A++	0.111	Varies	No	Dividends, no-exam conversion	1-800-272-2216
Sbli 💲	A	1.08 (above avg)	75	No	Lowest premiums, ages 70+	1-888-438-7254
Protective 🏔️	A+	Low-moderate	80 (whole)	Online quotes	$50m max benefit, ages 60-65	1-800-866-9933
Ethos ⚡	A+ (Banner)	Low	Varies	Yes	Digital-first, guaranteed accept.	1-415-322-4037
Mutual of Omaha ⚠️	A+	Mixed/above avg	80 (term)	Yes	Guaranteed acceptance to 85	1-800-775-6000
Corebridge 🔄	A	Moderate	Early 60s ideal	Some policies	24-hour approval, short-term	1-800-448-2542
Prudential 🚬	A+	Moderate	Varies	Some	Smokers, complex health, Term-100	1-800-778-2255

⚠️ What the Insurance Industry Doesn’t Want Seniors to Know

Here’s the uncomfortable truth that every insurance marketing brochure conveniently omits: about 52% of Americans think life insurance is too expensive, and 83% would consider purchasing it if it were easier to understand. The complexity isn’t accidental. It’s a feature of the sales process, not a bug.

Insurance agents earn higher commissions on whole life and universal life products than on term life. That’s why so many seniors get steered toward permanent coverage they don’t need. A $250,000 whole life policy might generate $3,000 to $5,000 in agent commission, while a term policy for the same amount might pay the agent $300 to $800. Follow the money, and you’ll understand why your agent keeps pushing permanent.

The protection gap affects 75 million Americans without coverage and 27 million underinsured policyholders, with perceived cost at 52% and competing financial priorities at 40% being the primary purchase barriers.

The solution isn’t buying more expensive products. It’s buying the right product from the right company at the right time. For most seniors between 55 and 75, a 10 or 15-year term policy with a conversion rider provides the most protection per dollar spent, period.

📋 How to Actually Shop Smart: The 5-Step Senior Strategy

Step 1 — Calculate your actual need. Don’t let an agent tell you what you need. Add up your mortgage balance, final expense estimate ($8,000 to $15,000 average), any debts, and income replacement needs for your spouse. That’s your number.

Step 2 — Get quotes from at least 4 companies. Use Ethos or Policygenius for instant multi-carrier comparisons, then call Guardian and Pacific Life directly for their agent-only rates.

Step 3 — Check complaint records yourself. Visit the National Association of Insurance Commissioners consumer search tool. Look up any company’s complaint index before you sign anything.

Step 4 — Demand the conversion rider. If you buy term, make sure the policy includes a conversion option to permanent coverage without a new medical exam. This is your safety net.

Step 5 — Never buy on the first call. Legitimate companies will give you time. Any agent who pressures you to sign today is prioritizing their commission deadline, not your financial wellbeing.

The bottom line is simple. Term life insurance for seniors doesn’t have to be confusing, overpriced, or manipulative. But it often is, because the industry profits from your confusion. Armed with the right information and the right company, you can protect your family without bankrupting your retirement.