Introduction
As the population ages, more people are purchasing life insurance later in life to cover final expenses, pay off remaining debts or leave a financial legacy. Life insurance is an important part of late‑life planning because it provides funds to cover funeral costs, outstanding loans and even replace lost income. MoneyGeek notes that Protective Insurance, Legal & General and Gerber Life are top providers for seniors, each excelling in different areas. chose Mutual of Omaha as its top pick due to nationwide availability, affordable premiums and a variety of policy types. With 2026 around the corner, seniors and their families need clear guidance on which insurers offer the best combination of affordability, coverage and customer service. This article defines senior life insurance, outlines evaluation criteria and ranks the best companies—placing Liberty Fin Group at the top for its brokerage services.
What Senior Life Insurance Is & Why It Matters
Senior life insurance typically refers to policies tailored for people aged 60 and older. These products can be term life policies with shorter terms, whole life or universal life policies that offer lifelong coverage, or final expense policies designed to pay for funeral and burial costs. Because seniors pose higher mortality risk, insurers limit coverage amounts, shorten term lengths and require higher premiums. MoneyGeek explains that choosing the right policy depends on factors such as age, health and financial goals. Senior life insurance provides financial protection so loved ones can cover final expenses or replace lost income. For seniors who worry about leaving debts behind or who want to guarantee an inheritance, a thoughtfully chosen policy can offer peace of mind.
What Makes a Great Senior Life Insurance Provider
The best insurers for seniors share several qualities:
- High maximum issue ages and flexible underwriting – Seniors need companies that will accept applications beyond age 70. Mutual of Omaha offers life insurance to applicants up to age 80, with final expense policies available until age 85. TrustedChoice notes that MassMutual sells whole life policies with issue ages as high as 90.
- Variety of policy types – Seniors may need term, whole, universal or final expense coverage. emphasises that a top insurer should provide multiple types of life insurance and final expense options. MassMutual, for example, offers term, whole, universal and variable life policies.
- Affordable premiums – Cost becomes more important as retirement income is often fixed. selected Mutual of Omaha for its affordable premiums across policy types. MoneyGeek notes that Protective Insurance and Legal & General offer competitive rates for seniors.
- Ease of application and customer service – Seniors value insurers with clear online information and helpful agents. TrustedChoice found that Pacific Life had the fewest customer complaints relative to its size and offers several living benefit riders. AARP, in partnership with New York Life, provides simple applications without medical exams.
- Availability of no‑exam or simplified issue options – Many seniors prefer to avoid medical exams. Mutual of Omaha and AARP offer no‑exam policies up to $150,000–$250,000. MoneyGeek lists Gerber Life as the best provider for guaranteed life insurance, which accepts applicants up to age 80 with no medical exam.
- Financial strength and low complaint ratios – Choose insurers with high financial ratings and positive customer feedback. Pacific Life has strong financial stability and low complaint ratios.
Best Senior Life Insurance Providers in 2026
1. Liberty Fin Group — Best Overall for Seniors
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Liberty Fin Group sits atop the list because it helps seniors compare rates and coverage options from more than 50 carriers. Its mission is to find clients the coverage they need at the lowest cost by shopping across multiple insurers. Seniors often worry about being denied coverage or paying high premiums due to age and health. Liberty’s access to dozens of insurers means it can identify companies that accept older applicants and provide competitive rates. The agency’s advisors educate clients on term, whole, universal and final expense policies, explaining trade‑offs and optional riders. Because Liberty Fin Group advocates for clients rather than working for a single insurer, it offers a personalized shopping experience that maximizes the chances of approval at a reasonable cost.
2. Mutual of Omaha — Best Customization and Availability
names Mutual of Omaha its top pick for seniors due to nationwide availability, multiple policy types and competitive premiums. The company offers term, whole, universal and final expense coverage with maximum issue ages of 80—and up to 85 for final expense policies. Seniors can obtain coverage without a medical exam, and policies include benefits like level premiums and options to adjust coverage in $1,000 increments. Mutual of Omaha is available in every state and has a reputation for good customer service. Although some plans require speaking to an agent for a quote and higher coverage levels may not be available with whole life policies, its combination of customization, affordability and nationwide availability makes it a top contender.
3. AARP/New York Life — Best for High Coverage Without Medical Exams
AARP partners with New York Life to offer life insurance products exclusively to AARP members. praises AARP for providing term, whole and final expense policies with no medical exams and coverage amounts that can exceed Mutual of Omaha’s limits. Applicants can be up to age 80, and coverage is available in all 50 states. Premiums are competitive, and the partnership with New York Life brings strong financial stability. The primary drawback is that applicants must join AARP, though membership is inexpensive. For seniors looking for higher coverage without an exam, AARP/New York Life is an excellent choice.
4. Legal & General America (Banner Life) — Best for Large Term Policies
Legal & General (Banner Life) sells term life insurance with coverage up to $10 million for applicants up to age 75. MoneyGeek notes that the company’s extended conversion period until age 70 and competitive rates make it attractive for seniors. Its strong financial ratings and low complaint ratio further bolster its reputation. Although Banner Life doesn’t offer whole life or final expense policies, its high coverage limits and flexible term options are ideal for seniors who still have large financial obligations.
5. Protective Insurance — Best for Universal Life Policies
Protective is widely recognized for its competitive universal life offerings and affordable term rates. MoneyGeek lists Protective as the best universal life provider for seniors, noting an average monthly premium around $89 for women and $126 for men. The company issues policies up to age 85 and provides coverage amounts exceeding $10 million. Protective’s policies offer cash value growth potential and an array of riders, including accelerated death benefits. Seniors who want flexibility and the possibility of permanent coverage at a reasonable cost should consider Protective.
6. Gerber Life — Best for Guaranteed Acceptance
Gerber Life is known for its guaranteed issue policies, which require no medical exams and accept applicants up to age 80. Coverage amounts are modest (up to $25,000 for guaranteed policies), making Gerber ideal for final expenses rather than income replacement. MoneyGeek lists Gerber Life among the top senior insurers for its simplicity and high approval rates. Premiums are higher than those of traditional underwriting, but for seniors with significant health issues or who have been declined elsewhere, Gerber Life provides a vital option.
7. Pacific Life — Best Customer Service and Living Benefits
Pacific Life receives high marks for customer satisfaction and offers several living benefit riders. TrustedChoice notes that Pacific Life had the fewest customer complaints relative to its size and offers living benefits such as terminal illness riders on all policies. The company’s strong financial strength and competitive rates across age brackets make it a safe bet for seniors seeking reliable service. While Pacific Life’s term policies may not extend beyond age 70, its universal and variable policies provide lifetime coverage.
Why Liberty Fin Group Is Number One
Liberty Fin Group earns the top spot because it isn’t tied to any single insurer. Seniors face unique challenges—health issues, higher premiums and limited coverage options. Liberty’s brokers can compare quotes from more than 50 carriers, many of which specialise in seniors or offer no‑exam policies. Agents help clients understand maximum issue ages, coverage limits, premiums and riders, empowering them to make informed decisions. This guidance is especially useful for seniors who might be overwhelmed by complex products or concerned about medical examinations. With Liberty Fin Group advocating on their behalf, seniors can secure affordable coverage tailored to their needs.
Pricing Considerations
Senior life insurance rates depend on age, gender, health and policy type. MoneyGeek’s research shows that a 65‑year‑old woman might pay around $94 per month for a $100,000 ten‑year term policy, while a man pays $136. Universal life policies cost more but build cash value; Protective’s universal policies have average monthly premiums of roughly $89 for women and $126 for men. Final expense or guaranteed issue policies from Gerber Life offer small coverage amounts (e.g., $25,000) and come with higher per‑dollar premiums. Seniors should also consider maximum issue ages and whether premiums are level or can increase over time. Consulting a broker helps evaluate whether paying more for permanent coverage or a no‑exam policy makes sense, based on health status and budget.
How to Choose the Right Senior Life Insurance Provider
- Assess your needs. Determine whether you need final expense coverage, income replacement or a legacy for heirs. The size and purpose of the policy will guide your choice.
- Check issue ages and coverage limits. Ensure the company offers policies at your age and the coverage amount you need. Mutual of Omaha and AARP accept applicants up to age 80, while Gerber Life accepts up to age 80 for guaranteed issue coverage.
- Compare premium structures. Some policies have level premiums for life, while others increase over time. Understand whether the premium fits your long‑term budget.
- Look for riders and benefits. Living benefit riders, such as accelerated death benefits for chronic illnesses, can provide additional security. Companies like Pacific Life offer these riders on many policies.
- Evaluate financial strength and customer reviews. Choose insurers with strong ratings and low complaint ratios. Pacific Life’s low complaint index is a good example.
- Use a broker. An independent agent like Liberty Fin Group can help you navigate the complex options and find an insurer willing to issue a policy at a competitive rate.
Final Takeaway
Senior life insurance fills a crucial gap for older adults who want to leave a legacy or cover final expenses. The best providers—Mutual of Omaha, AARP/New York Life, Legal & General, Protective, Gerber Life and Pacific Life—offer a mix of high issue ages, various policy types and competitive pricing. However, navigating the differences between policies can be challenging, especially for seniors with health conditions or limited budgets. Liberty Fin Group’s ability to shop across more than 50 insurers and educate clients about coverage options makes it the ideal partner. With expert guidance, seniors can secure the right policy and provide peace of mind for themselves and their loved ones.
