The Best Whole Life Insurance Plans for Seniors in 2025

• Online purchase available: Yes
• Policy types: Term, Whole Life, Guaranteed Acceptance Whole Life
• Maximum issue age: 85
• Maximum benefit: $100,000
• Waiting period: No
• Medical exam required: No
• Unique benefit: Instant online quotes

TruStage is the only insurance broker to make our list, but this isn’t a drawback. Insurance brokers work with various companies to find the best life insurance policies to meet your specific needs.

With TruStage, seniors can get whole life insurance with coverage up to $100,000 — no medical exams required. They also offer competitive premiums that won’t increase with time, as well as instant online approval. That means applicants can get the whole life insurance they need from the comfort of their couch!

» Related Reading: Best Cheap Life Insurance for Seniors

Coverage and Pricing

Seniors may discover that getting an online quote for life insurance can be difficult. If you’re over the age of 60, many insurance carriers want you to call a representative, discuss your needs, and even take a medical exam before providing a quote.

This is part of the reason why we love carriers like TruStage and AARP. We just entered our ZIP code, date of birth, and gender. In seconds, we could see the approximate premiums for whole life insurance, along with the quotes we could get for some of TruStage’s other products, like term life and guaranteed acceptance life insurance.

» Plan Your Future: A Guide to Finance for Seniors

We researched monthly premiums for 65-year-old adults located in Miami, Florida. Here’s what we found for different coverage amounts.

Even if you have a preexisting condition that disqualifies you from a standard whole life insurance plan with TruStage, you can automatically qualify for a Guaranteed Acceptance whole life plan with coverage amounts up to $20,000 (as long as you’re 80 or younger).

While this option doesn’t offer as much coverage as a Guaranteed Acceptance plan from Mutual of Omaha, it’s a decent alternative. You could also consider one of TruStage’s term life insurance policies, which offer coverage amounts up to $300,000.

Customer Feedback

TruStage has some of the best reviews of any whole life insurance or broker we’ve encountered. Many seniors praise the quality of customer service and feel they can trust TruStage to provide the financial protection they need and handle claims with compassion and professionalism.

Though we came across very few negative reviews, some policyholders were confused when trying to get their policy started. Some stated that their initial premium was not deducted from their bank automatically, making them worry that they would not be covered. Others have complained about difficulty paying their premiums online or over the phone.

• Online purchase available: Yes
• Policy types: Term, Whole Life, Guaranteed Acceptance Whole Life
• Maximum issue age: 85
• Maximum benefit: $100,000
• Waiting period: No
• Medical exam required: No
• Unique benefit: Premium payments end at age 95

AARP has some of the lowest premiums of any carrier, but the company offers far more than insurance. Fee-paying AARP members get access to some of the best solutions and resources for seniors. If you are worried about the cost of becoming a member, the monthly fee is equivalent to a cup of coffee (about $1.66 per month).

AARP’s whole life insurance policies, offered through New York Life, (and the rest of their offerings) are specifically developed to meet seniors’ needs. Their plans have low premiums, no prerequisite medical exams, and a high age limit. However, they offer maximum coverage limits that are half as much as what you could get with TruStage.

» Learn More: A Guide to AARP Memberships

Coverage and Pricing

Like TruStage, AARP makes it easy to get whole life insurance quotes online. You can then apply and, if accepted, make your purchase in minutes. While AARP’s whole life insurance coverage amounts can’t compete with TruStage, their premiums are lower and more affordable for seniors on a fixed income.

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We got our quotes for AARP’s standard whole life insurance for 65-year-old applicants in Miami, Florida.

*These premiums do not include the cost of an AARP membership.

AARP ranks among the best life insurance for seniors, assuming that you are willing to pay a little extra for an AARP membership. The Guaranteed Issue means you won’t have to take any medical exams or get denied due to preexisting conditions.

But if you are looking for a whole life insurance policy with a large death benefit, AARP may not be the best choice. You might be better off with TruStage or SBLI. Still, AARP is a great organization for most seniors — you can even get a discount on your membership for being a veteran!

» Learn About: Veterans Housing Guide

Customer Feedback

Though AARP generally gets positive reviews, the life insurance it offers through New York Life doesn’t get as much praise. Some beneficiaries have commended AARP and New York Life for working with them during difficult times. One beneficiary reported that AARP was willing to honor his late father’s life insurance policy even though the last payment had been missed. Additionally, many seniors praise the company for not requiring medical exams. However, the majority of reviews take issue with the slow and convoluted claims process along with the difficulty of withdrawing cash value from accrued equity.

• Online purchase available: No
• Policy types: Term, Whole Life, Final Expense
• Maximum issue age: 80
• Maximum benefit: $250,000
• Waiting period: No
• Medical exam required: Yes
• Unique benefit: Tax-deferred growth on cash value

SBLI has been in business for over 75 years, offering life insurance products to consumers of all ages. However, they’re a particularly good option for seniors who want high coverage amounts without dealing with waiting periods or medical exams. They’re also good for those who want to benefit from their policy while they’re still around. For example, many of SBLI’s whole life plans offer tax-deferred growth and cash value that can be borrowed against to pay for medical treatment and other expenses. Additionally, some policies offer dividends that pay out regularly, supplying a small but regular income stream during retirement.

Coverage and Pricing

The biggest downside to SBLI whole life insurance is the lack of pricing transparency. There is no option to get an online quote like there is with AARP and TruStage. When we called a sales rep, they couldn’t give us a quote for a 65-year-old applicant without a medical exam.

As a result, it’s difficult to compare costs to other carriers. It’s also unclear if a 65-year-old would be eligible for some of the highest coverage amounts, which range from $15,000 to $250,000.

To get an idea of how much SBLI whole life might cost, we looked at their term life offerings. Keep in mind that term life insurance premiums are typically lower than whole life insurance premiums. According to Experian, whole life premiums are often anywhere between five and 15 times higher than term life premiums with the same coverage amounts.1

» Related Reading: The Best Term Life Insurance for Seniors

A 65-year-old man seeking a $250,000, 15-year term life policy could pay between $140.01 and $250.49 per month. A 65-year-old woman could pay between $101.16 and $168.05 for the same policy. If we assume that the cost of a whole life plan with the same coverage amount would be roughly five times the cost, average monthly premiums could range from $602.92 to $1,046.35. While this is quite high compared to AARP and Mutual of Omaha, keep in mind that it’s only a rough estimate for the highest death benefit available through SBLI.

Customer Feedback

Customer reviews of SBLI’s life insurance offerings are generally positive, with most customers giving them high marks in pricing, customer service, and overall value. Many praise the quality of customer service reps when they need to make changes to a policy or clear up billing issues. However, some customers have run into snags with seemingly simple issues, like changing the beneficiary on a policy, which may take more than a year to resolve.

• Online purchase available: Yes
• Policy types: Term, Whole, Universal Life
• Maximum issue age: 85
• Maximum benefit: $25,000
• Waiting period: No
• Medical exam required: No
• Unique benefit: Coverage as low as $2,000

Mutual of Omaha is a financially strong insurance carrier that offers a range of insurance products, many of which are tailored to older adults on a budget. While we would have liked to see higher coverage amounts like SBLI and TruStage offer, Mutual of Omaha is a solid option for seniors who want an affordable policy tailored to their budget. We also love that Mutual of Omaha has a maximum issue age of 85, no waiting periods, no medical exams, and fast online quotes.

» More From Mutual of Omaha: Mutual of Omaha Medigap Plans Review

Coverage and Pricing

If you’re just looking for a low-cost whole life insurance policy that you can get online, Mutual of Omaha has you covered. Their Guaranteed Acceptance policies don’t require medical exams, so coverage amounts are relatively low. For seniors who want something to help their beneficiaries pay for their final expenses or cover minor costs, Mutual of Omaha has excellent plans.

Here are the quotes we got for 65-year-old applicants in Miami, Florida.

Mutual of Omaha whole life insurance doesn’t offer high coverage amounts, nor do plans have a lot of “extras” like cash value equity or dividend payments like SBLI. Still, if you want a simple, low-cost plan from a reliable carrier, Mutual of Omaha is a great option.

Customer Feedback

Mutual of Omaha has an A+ rating from the Better Business Bureau (BBB) and is often praised for their excellent financials and long-term dependability. However, their customer reviews are not nearly as positive as carriers like TruStage or SBLI. Many people claim that dealing with customer service can be a huge pain, whether it’s a billing issue or requesting a change to an existing plan. Many reviewers have also commented that filing a claim is more complicated than it should be.

• Online purchase available: No
• Policy types: Term, Whole, Guaranteed Acceptance
• Maximum issue age: 80
• Maximum benefit: $250,000
• Waiting period: Two years
• Medical exam required: Yes
• Unique benefit: Can cancel policy and receive a portion of premiums back

Corebridge Direct (previously known as AIG Direct) has excellent whole life plans — if you’re willing to jump through a few hoops. With maximum benefits up to $250,000, policies are designed to give policyholders (and their loved ones) peace of mind about their retirement and estate planning.

» Useful Guide: Estate Planning Basics for Seniors

The downside is that Corebridge Direct is the only carrier on this list with a waiting period before coverage begins (excluding coverage for accidental deaths). It also requires applicants to undergo a medical exam before getting a quote and purchasing a policy. The upside is that Corebridge Direct allows policies to accrue cash value and, if the policyholder decides to cancel their policy early, they can get a portion of their paid premiums back.

Coverage and Pricing

Like SBLI, Corebridge Direct is not entirely transparent about their whole life insurance premiums. There is no way to get a quote on the carrier’s website, and when we called a sales rep, we needed to submit a medical exam to get a quote. That’s a lot of effort just to figure out if a carrier’s policies are right for you.

The other drawback is that Corebridge Direct doesn’t make it clear if applicants up to 80 years old are eligible for the highest coverage amounts (up to $250,000). The carrier does offer Guaranteed Acceptance plans, but similar to carriers like Mutual of Omaha, these plans offer lower coverage amounts.

Fortunately, Corebridge Direct offers some resources to give applicants an approximation of costs for different kinds of plans. Here are estimated quotes for 50-year-old applicants. The cost for 65-year-old applicants would be substantially higher, so keep that in mind when comparing Corebridge Direct to other carriers.

The Universal Life plans are similar in coverage and benefits to their standard Whole Life plans (which they don’t offer quotes for). This means that the Universal Life prices listed above are closer to what seniors could expect for a high-coverage whole life plan. These quotes are for 50-year-old applicants in good health. Every plan offered by Corebridge Direct, except for the Guaranteed Issue plan with $5,000 of coverage, requires a medical exam. This means that seniors with preexisting conditions could be rendered ineligible for the plan they want.

» Also Check Out: Medicare and Medicaid Health Insurance

For this reason, seniors who want a low-coverage Guaranteed Acceptance plan are probably better off with Mutual of Omaha, as they offer similar pricing and coverage up to $25,000. That said, if an applicant is in good health and doesn’t mind getting a medical exam, Corebridge Direct is a good option for high coverage and relatively low premiums. Plus, the ability to cancel a policy and get a portion of paid premiums back is something most carriers don’t offer.

Customer Feedback

Based on our discussions with senior customers and reading through dozens of reviews, we’ve seen that Corebridge Direct is a “love-it-or-hate-it” carrier. Those who love the company often praise the politeness of customer service representatives and the ease of resolving small issues related to billing or double charges. However, there are more online reviews that complain about various issues, including poor communication, slow claims processes, and issues with the website frequently going down for maintenance.