A 66 Year-Old Female’s Guide To Buying Life Insurance

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In this article, I’ll be going over how to purchase life insurance for a 66 year-old female to cover the expenses of her death.

If you’re here reading this article today, you’re probably looking to buy insurance for either yourself, your mom, or possibly another relative.

You’re also probably wondering what life insurance options like term life insurance or burial insurance are available.

Friend, you are in the right place!

My goal has always been to educate you on your life insurance options.

And after reading this article today, you will be able to walk away knowing that there ARE options for purchasing life insurance for a 66 year-old female.

Today, I’ll be specifically covering:

  • Why 66 Year-Old Females Buy Life Insurance
  • Factors That Affect Insurability
  • What Types Of Life Insurance Coverage Are Available To A 66 Year-Old Female
  • Strategies To Get The Best Prices

So, if you’re looking for more information about life insurance coverage, then this is the article for you!

Why 66 Year-Old Females Buy Life Insurance

Everybody purchases life insurance for different reasons. However, generally when a 66 year-old female is looking to purchase life insurance, the reasons are pretty straightforward.

Usually, she’s looking to make sure her final expenses are covered when she dies, or she’s looking for a significant lump sum to be paid as an income replacement upon her death.

Let’s look at both of these reasons in more detail.

Final Expenses

Many people purchase life insurance plans specifically to make sure their final expenses like burial costs are covered.

Let’s face it. Final expenses can be pretty pricey.

With the average cremation costing between $5,000 and $6,000 and the average burial costing between $10,000 and $15,000, it’s no wonder so many people purchase life insurance to cover final expenses.

Your loved ones will already be grieving over your loss. You don’t want them to have the added burden of paying thousands of dollars for your final expenses as well.

There are many life insurance policies available that can cover burial and cremation expenses, if that’s what your goal is.

But, maybe that’s not your goal. Maybe you’re looking to have a large sum of money available upon your death to cover other expenses or replace your income. If so, then keep reading.

Income Replacement

You may be wanting a large amount of money beyond final expenses to be paid when you pass away.

Maybe you owe a large amount of debt for something such as a mortgage, auto, business, or education loan.

If you want to make sure there is money available for your family to pay off those expenses, then a life insurance policy is a great option. It will enable your loved ones to pay off the debts and assume ownership of those assets.

You’ve probably worked hard to make sure that your monthly payments have been paid every month. Don’t let all that hard work, time, and money go to waste by not making sure those expenses will be covered when you pass away.

A life insurance policy can give you great peace of mind in knowing that your family will be able to pay off the debtors and won’t be burdened with your expenses in the event of your death.

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Factors That Affect Insurability

Now, before we discuss things any further, I need to point out that there are a few factors that MAY affect your eligibility and/or the cost of your life insurance plan.

Specifically, I’ll be discussing the three areas that can affect your insurability and the cost of coverage.


Unfortunately, the older you get, the more you’ll pay for a life insurance policy.

Age really does have a direct impact on your insurability.

This is why it’s SO important that you go ahead and purchase life insurance coverage now.

I can’t stress this enough.

You don’t want to wait. Purchase a life insurance plan as SOON as you can.

You want to lock in today’s rates, instead of waiting to purchase at a higher price later. Trust me, it WILL make a difference.


Another area that may affect your rates and eligibility is your hobbies.

Do you have any risky hobbies? Maybe you like to go scuba diving, skydiving, or mountaineering.

You probably don’t, but it’s possible!

If you DO happen to participate in high-risk activities, the insurance company will want to know about it.

Make sure when you’re filling out your application that you are completely transparent about any risky hobbies you may have.

Although it costs more, there are insurance companies who offer coverage to individuals who participate in high-risk activities.

You just need to let them know that you are one of those people.


Besides age and hobbies, your health is another area that will affect your insurability. In fact, it’s probably the area that affects your insurability the most.

The insurance company will ask you a detailed list of questions specifically regarding:

  1. Your Health
  2. Your Age
  3. Your Height
  4. Your Weight
  5. If You Smoke

It’s imperative that you are up front and honest with them regarding your health. If you are dealing with any specific health issues, let them know.

Fill out your application completely and truthfully. If you do, the insurance companies will look more favorably on your application.

Just like with individuals who have risky hobbies, there are certain insurance companies who may be willing to work with individuals with not-so-great health.

So, make sure you are detailed and transparent when answering any health-related questions.

What Types Of Life Insurance Coverage Are Available To A 66 Year-Old Female

In this section, I’m going to talk to you about the different life insurance options available to a 66 year-old woman. That way, you can get a better idea of which options will meet your needs and which ones won’t.

Term Life Insurance

In general, term life insurance is purchased by younger people who are wanting temporary-type coverage.

It’s probably not the ideal coverage for a 66 year-old woman for final expense coverage, but may be worth considering term insurance for a senior with large financial obligations.

While the premiums may be lower on term life insurance than whole life, it just doesn’t offer much, if anything, in the way of a permanent solution.

Because most 66 year-old females looking for life insurance coverage are looking for permanent solutions to specific issues, I don’t generally recommend term life insurance as a viable option.

For one thing, it will be harder for a 66 year-old woman to qualify for term coverage.

And even if she did, she will most likely outlive the term period, leaving her with no coverage when the term expires. She would then need to purchase coverage again, this time at a more advanced age, making it harder AND more expensive to get coverage.

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Additionally, term life insurance wouldn’t cover burial and cremation expenses OR income replacement if she outlives the term.

So, you see, term life coverage probably isn’t the solution a 66 year-old female would be looking for.

Whole Life Insurance

While term life insurance may not be the best option available to a 66 year-old woman, whole life insurance probably is.

Whole life insurance is designed to be permanent coverage that cannot be canceled due to age or health.

Generally, the monthly premiums stay consistent throughout the duration of the policy as well.

Although a bit more expensive than term life coverage, whole life coverage most likely has all that you are looking for in a quality life insurance plan.

You can purchase specific amounts – like $5000, $10000, $25000, $50000, and more – depending on what your needs are, and you can rest assured that your expenses will be covered when you pass.

If you simply want your final expenses covered, you can purchase a plan that does only that. Or, if you want to make sure there is a larger lump sum beyond your final expenses, that is an option also.

Additionally, since there is a cash component to a whole life insurance policy, you can borrow money against the policy if you needed to, as well.

You have several options available to you with whole life coverage, depending on what your needs are.

Universal Life Insurance

The final type of life insurance I’m going to be discussing with you today is universal life insurance for seniors.

Universal life insurance is designed, in a sense, to be a way to get temporary-type coverage that you can get for a better per-dollar price per coverage than whole life insurance.

It’s not generally the first type of coverage that I would recommend for a 66 year-old female and I’ll tell you why.

Universal life insurance plans have to be designed just right.

I’ve met too many people that were talked into purchasing a universal life insurance plan and then, it wasn’t managed properly and they ended up having to cancel their coverage at an advanced age.

I don’t want that to happen to you.

Universal life insurance plans last until age 100.

My recommendation for a 66 year-old female who is desiring universal life insurance coverage would be to purchase a guaranteed universal life insurance plan.

This type of a plan is permanent coverage that has a special benefit that states that as long as the exact premiums are paid in a timely manner, the plan cannot be canceled in the future due to age.

Guaranteed universal life insurance plans are a way to get a larger amount of coverage to pay a larger benefit amount. However, it’s not necessarily the only option I would recommend for a 66 year-old female.

These types of plans are generally harder to qualify for, and as I mentioned before, they need to be managed properly.

Strategies To Get The Best Prices

There are a few ways that you can get better pricing on life insurance coverage. Today, I’m going to discuss three specific ways to save you money on your life insurance plan.

Know Your Goals

First of all, you need to determine WHY you’re purchasing life insurance.

If you don’t know why you need it, then you won’t know how much coverage to purchase.

And, if you don’t know how much coverage to purchase, you won’t be able to have the peace of mind knowing that all your needs will be met.

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So, figure out what your goals are in purchasing a life insurance plan.

Are you simply wanting to cover your cremation and burial expenses? If so, you can purchase a plan just to cover final expenses.

Or are you wanting to make sure there is some sort of income replacement when you pass away?

Maybe it’s both of these reasons OR it could be something else entirely.

Regardless, it’s imperative that you know why you’re needing coverage.

Know Your Budget

Another important factor in getting the best price on a life insurance plan is knowing your budget.

You need to clearly define how much you can afford to pay for life insurance coverage.

It doesn’t benefit you in any way to purchase a plan you can’t afford. If this happens, then you will most definitely end up losing your coverage, because you won’t be able to pay the monthly premiums.

Don’t be that person.

My belief is that life insurance is best when it’s most affordable.

As a 66 year-old female, most likely on a fixed income, it’s crucial that you have a life insurance policy that you can afford.

You want to have your coverage for the long-haul. And, you want the peace of mind that comes with having affordable coverage in place.

Here at Buy Life Insurance for Burial, we can help you shop for the best prices for the best coverage for your needs.

Work With A Broker

It really is in your best interest to purchase life insurance through a qualified broker.

Here at Buy Life Insurance for Burial, we are qualified brokers who specialize in life insurance.

We represent a number of life insurance companies, so we have several options to choose from when trying to find you the best deal.

This is important because when purchasing life insurance at an advanced age, you’re going to want to have multiple carriers to choose from since prices will vary across the board.

We will also partner with you to get a feel of what the status of your health is, what your goals are, and what your budget can accommodate.

We’ll keep all of this information in mind when shopping the different companies to find you the best plan to meet your needs.

As brokers, we have the expertise AND the resources needed to find you not only the best coverage, but also the best price.

Our goal is to help you find a quality life insurance plan that you can afford for the long-haul. We want you to have peace of mind knowing that you have coverage in place.

In Conclusion…

I’ve given you a lot of information today regarding life insurance options available for a 66 year-old woman.

By now, you should have a good idea of what type of coverage will best meet your needs.

But, if you find that you still have some questions, go ahead and give me a call at 888-626-0439 or message me here. I’ll be happy to answer any questions you still have.

And, if you’re ready to go ahead and purchase life insurance, give me a call today.

Don’t wait to purchase a quality life insurance plan. Give yourself peace of mind by securing quality life insurance coverage now.

I look forward to partnering with you to get you the best insurance coverage at the best price!