The Best Term Life Insurance for Seniors in 2025

• Starting premiums: $37.72 per month
• Maximum issue age: 74
• Maximum benefit: $5 million
• Waiting period: Yes
• Medical exam required: Yes
• Unique benefit: No rate increases

SBLI has provided life insurance and similar products to Americans for more than a century. In our experience, SBLI excels not just as a company, but also as a provider of excellent death benefits. Unlike many carriers like Globe Life or AARP that keep death benefits relatively low for older adults, SBLI offers high death benefit policies to seniors at competitive prices. Even better, those prices won't change over the life of the plan.

The downside is that most older adults, particularly those applying for plans with the highest death benefit amounts, will need to undergo a thorough medical exam for approval. Depending on the plan, older adults may also have a waiting period of nine months or longer before they can file a claim.

Plans and Pricing

Unlike AARP and Globe Life, SBLI offers term life plans with traditional term lengths ranging from 10 to 30 years. However, age limits access to long-term plans, so a 65-year-old can only get a 10 or 15-year plan. While plans can be renewed, all term life plans end at age 85, regardless of the term length. Fortunately, SBLI gives seniors the option to convert their term life insurance to whole life, universal life, or final expense plans before the plan expires.

We researched plan pricing for 65-year-old male and female applicants (nonsmokers) living in Orlando, Florida. The prices below are for 10-year term lengths. Like Globe Life and Fidelity Life, SBLI charges significantly less for female applicants. Rather than showing a fixed quote, they offer a range of potential premiums based on the applicant's medical exam results.

Some seniors might think these death benefits are more than they need, in which case they could opt for a carrier like Globe Life, AARP, or apply for one of SBLI’s final expense plans. However, we appreciate that SBLI gives older adults access to high death benefits, ranging from $100,000 all the way up to $5 million.

The premiums can get pricey if you want $1 million or more in death benefits, but otherwise, we found pricing was competitive and reasonable. These plans offer high value, especially for nonsmokers in relatively good health.

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Customer Feedback

SBLI doesn't just get high ratings as a company; they also get positive feedback from policyholders. Most reviews were glowing, with users praising plan value, competitive pricing, and friendly customer service.

While most reviews commended the company, not everyone had positive things to say. Some reviewers cited confusion and a lack of help from SBLI when filling out paperwork to obtain a new policy, making changes to an existing policy, or attempting to resolve claims swiftly.

• Starting premiums: $87.55 per month
• Maximum issue age: 70
• Maximum benefit: $500,000
• Waiting period: No
• Medical exam required: Yes
• Unique benefit: Coverage can be renewed up to age 95

Much like SBLI, Fidelity Life has been providing life insurance products for over 100 years. They have built a reputation as a trustworthy and dependable carrier, offering high maximum benefits with no waiting periods.

We like that Fidelity Life makes it easy to get an online quote in under two minutes. Plus, seniors can get plans with maximum death benefits of $500,000 (that's 10x the maximum offered at Globe Life) and no waiting periods. However, Fidelity Life only allows people ages 70 or younger to apply for their term life policies.

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Plans and Pricing

Like SBLI, Fidelity Life only offers 10 and 15-year term life plans to adults over 60. However, these can be renewed at significantly higher rates. Below are the estimated term life rates we found for nonsmoking, 65-year-old residents of Orlando, Florida, with above-average health:

While Fidelity Life premiums may seem high, the lowest death benefit they offer is $250,000. When looking at the comparatively low death benefits of AARP and Globe Life, the value you get for the price is far greater with Fidelity Life.

Fidelity Life is also a great option for older adults who need a high death benefit policy that won't break the bank. The carrier has more affordable rates than SBLI, and the difference in estimated premiums between Fidelity Life's $450,000 and $500,000 plan is negligible. This means you could get an additional $50,000 in coverage for about $2 or $3 more per month.

Keep in mind that premiums are higher for smokers or older adults with poor to average health. Fortunately for seniors with preexisting health issues or those who want to avoid a medical exam, Fidelity Life also offers final expense plans with death benefits up to $40,000, along with guaranteed issue plans with death benefits up to $25,000. Neither requires a medical exam.

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Customer Feedback

Fidelity Life has an A rating from the Better Business Bureau and generally receives above-average reviews from policyholders and plan beneficiaries. Many reviewers praised the Fidelity Life support team for helping them find the right life insurance plan to fit their needs.

Others mentioned that the claims process was simple, which many beneficiaries will appreciate after the death of a loved one. However, many policyholders complained about billing issues that were not always easy to resolve online or over the phone.

• Starting premiums: $21 per month
• Maximum issue age: 74
• Maximum benefit: $150,000
• Waiting period: No
• Medical exam required: No
• Unique benefit: Access to all benefits of an AARP membership

AARP offers many services, products, and educational resources to people over 50 — including term life insurance. You have to pay a small annual fee for AARP membership, but the benefits far outweigh the costs. This is especially true if you opt for one of AARP’s low-cost term life insurance plans.

AARP term life insurance policies start as low as $21 per month (for women) or $31 per month (for men). You don't need to take a medical exam when you apply. Premiums increase once every five years, and you will need to factor in the cost of AARP membership.

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Plans and Pricing

AARP factors gender into premiums, and the differences in initial quotes were significant. Here are the quotes we got for 65-year-old, nonsmoking male and female applicants in Orlando, Florida:

Gender plays a major role in determining the cost of AARP term life insurance. We liked that we could get quotes for ourselves and a spouse at the same time, which made comparing premiums easier.

Male applicants pay roughly 50 percent more for their AARP term life insurance than female applicants. Despite the disparity, AARP still offers competitive premiums, particularly for those who don't need a high death benefit.

Remember to add the cost of an AARP membership to your premium. An AARP membership costs roughly $1 to $2 per month, which shouldn't significantly impact the total price. Just remember that the rates outlined above depend on your age, and they will not remain constant throughout the life of your term policy. Instead, you will see automatic increases once every five years, similar to carriers like Globe Life.

One big downside to AARP's term life policies is the automatic cutoff date at age 80. While other carriers like Fidelity Life allow seniors to continue their policy to age 90 (or beyond), AARP cuts it off early. This means AARP's term policies are best for applicants 70 or younger. AARP has a maximum age of 74 for applicants, which is low compared to carriers like Mutual of Omaha.

Customer Feedback

AARP provides life insurance through New York Life, and feedback from consumers is mixed. In most cases, policyholders and their family members have praised AARP’s senior-friendly benefits, but complained about the difficulty of dealing with New York Life customer service.

Some beneficiaries report receiving death benefits in as little as two weeks, but others complain that they’ve needed to jump through many hoops and wait months to get any resolution when requesting death benefits.

• Starting premiums: $19.91 per month
• Maximum issue age: 79
• Maximum benefit: $50,000
• Waiting period: None
• Medical exam required: No
• Unique benefit: First month of coverage costs $1

Globe Life has built a reputation as a trustworthy and financially strong insurance carrier over nearly 75 years. Founded in 1951, Globe Life has expanded their offerings to include a variety of insurance types and annuities, including term life insurance for seniors.

While Globe Life advertises term life premiums that start as low as $4, we found that these prices only apply to children and very young adults. If you're 60 and above, you can expect to pay roughly $20 per month for their lowest benefit plans. The upside is that Globe Life does not require medical exams, has no waiting periods, and only charges $1 for the first month of coverage.

Plans and Pricing

Rather than setting specific term lengths (10 years, 20 years, etc.), Globe Life sells “term-to-age” products. In other words, you can apply at anytime up to age 79, and depending on the state you live in, your coverage will end at age 80 or 90. In Florida, for example, coverage would end at age 90. In Alabama, however, it would end at age 80.

During the online quote process, we liked that getting a quote only took minutes and even compared different coverage amounts. However, we didn't like how much personal information we had to provide. We had to give our full name, residential address, and email address before we could get a quote.

The same applied if we called a representative. Fortunately, we weren't asked any health-related questions, which is unusual for an insurance carrier, as even AARP asked if we had smoked or used tobacco within the last year.

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A 65-year-old adult living in Orlando, Florida, could expect to pay the following premiums (roughly) for term life coverage:

Globe Life also offers term life death benefits of $75,000 and $100,000, but these are only available to applicants younger than 60.

Customer Feedback

Globe Life has an A+ rating from the Better Business Bureau (BBB). Many reviewers praise the overall customer service, particularly the in-person agents who visit homes to discuss the needs of applicants. Some have specifically mentioned that customer service reps explain things clearly and ensure that applicants and policyholders understand their options thoroughly. Working with an agent in person can also help many seniors feel safer when acquiring a policy.

While customer service interactions are often praised by users, the results are not. A large percentage of online reviewers complain that after speaking with customer service, paperwork was filed incorrectly, policies were not canceled as requested, and changes to policies (including updated beneficiaries) were not made in a timely manner.

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• Starting premiums: $80 per month
• Maximum issue age: 80
• Maximum benefit: $150,000
• Waiting period: No
• Medical exam required: Yes (varies by age)
• Unique benefit: Can convert coverage to cash value

Mutual of Omaha is a carrier with a long history that has helped cement their financial strength and credibility among consumers. Founded in 1909, Mutual of Omaha offers products ranging from Medicare Supplement plans to life insurance. Their term life insurance is ideal for older seniors who've waited to purchase a plan, as they have the highest age limit of any carrier on this list. However, age limits for Mutual of Omaha term life insurance can vary by state.

This can make it tricky to know if you're still eligible in your state, and Mutual of Omaha makes the application process less convenient because they have no online quote tool. We had to call an agent and begin the application process just to get a quote. The plus side is that term policies can be converted into cash value if needed — meaning seniors can draw from their death benefit early to cover senior care or other expenses.

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Plans and Pricing

Mutual of Omaha is not as transparent about pricing as carriers like AARP, Fidelity Life, and SBLI. We would love for the company to implement an online quote estimator for term life insurance, but that is currently not an option. Applicants must call an agent and begin the application process to get a price estimate.

If you're looking for a 10-year policy with up to $150,000 in death benefits, you can expect to pay between $80 and $120 per month. This is based on our research of nonsmoking, 65-year-old applicants living in Orlando, Florida. While this is relatively competitive pricing and is similar to what we've seen from carriers like SBLI and Fidelity Life, it's unfortunate that seniors need to jump through hoops to get a quote.

Premiums also depend on health status. While Mutual of Omaha offers Guaranteed Issue policies that don’t require medical exams, most term life plans for applicants 70 and older require a medical exam. This means that Mutual of Omaha might be a better option for younger seniors or older adults in good health.

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Customer Feedback

Mutual of Omaha has an A+ rating from the Better Business Bureau, but after reading through hundreds of reviews, we saw that many consumers were dissatisfied with the company’s claim resolution services.

While positive reviews praised the overall plan quality and pricing, most reviews complained about the quality of customer service. Many reviewers dealt with confusing claims processes and unhelpful customer service representatives.