Life Insurance For 71 Year Olds

If you’re reading this article, you are probably looking for more information about purchasing life insurance for a 71 year old. 

You’ve come to the right place!

This article covers everything you need to know about life insurance either for yourself or another 71 year old like a parent, for example. 

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Do I Need A Medical Exam

If you are 71 year old and looking for life insurance, you don’t necessarily need to have a medical exam to qualify.  

You can opt for something called “simplified issue coverage”. With this type of life insurance, you only have to answer a few questions about your medical history.

There is no need to undergo a medical exam. Unlike other life insurance programs, this option for 71 year olds is quick and simple and you’ll have your application approved almost immediately. 

What Are My Coverage Options As A 71-year-old?

There are several options if you’re 71 years old looking for life insurance:

Term life insurance

Term life insurance for seniors provides the most payout for the least amount of money. However, there are several downsides which are the reason that most 71 years old don’t get term life insurance. It’s difficult to qualify for and it may cancel before you die.

Universal life insurance 

This is an excellent option if you are 71 years old and in good health. Just like term life insurance, guaranteed universal life insurance for seniors may cancel prior to death if set up incorrectly. But if it’s set up right, universal life is permanent life insurance coverage and you can’t outlive it. 

Whole life insurance

If you are 71 year old, this is the type of life insurance we will recommend to you. It won’t cancel due to your age or health, its rates never increase, and you qualify for first day full coverage. Our whole life insurance options offer “simplified issue” underwriting, meaning our clients take no medical exams nor give blood to qualify. You just need to answer a few simple health questions.

Can I still qualify for a policy if my health is not great?

Yes, even if your health is not the best, you can still qualify for a policy. We can help you find good life insurance for a 71 year old if you have one of the following illnesses and conditions: 

  •  Cancer
  •  Heart issues 
  •  Mental health disorders
  •  Lung diseases such as COPD
  •  Diabetes
  •  Neurological disorders like Parkinson’s or lupus
  •  etc.
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And that’s not all. 

Even if you have advanced pre-existing conditions, we can offer you what’s known as no questions asked whole life insurance. This type of insurance is available for anyone up to the age of 80. 

In other words, at Buy Life Insurance For Burial, we’ve got plenty of life insurance options for 71 year olds regardless of your health condition.

Why does a person aged 71 need life insurance?

There are many good reasons for senior citizens like you to take out life insurance: 

  • To cover final expenses. Many people retire with little or no savings and don’t have adequate insurance coverage to pay for burial or cremation costs. This is the most common reason why you would want to purchase life insurance if you are 71 years old.
  • To replace income. Many seniors buy life insurance in order to replace income after the loss of their spouse. 
  • To leave a legacy to their loved ones. Some people buy life insurance so that they can leave money behind to their family members. 
  • To pay off debt. Many 71 years olds buy life insurance to pay off the debt that will be left behind after their death like mortgage or credit card debts.

What insurance carriers are best for coverage on 71 year old seniors?

It depends. Every life insurance carrier is different and has unique health requirements. Not every carrier or policy will suit your needs equally. 

At Buy Life Insurance For Burial, we operate as independent brokers and represent multiple top-rated national insurance carriers. This means that we can always recommend the best coverage options for your particular needs. You will be able to get great coverage at the lowest price.  

What is term life insurance and should I have one?

Term life insurance guarantees coverage for a certain number of years. The insurance doesn’t build any cash value like whole life insurance, but premiums are usually lower.

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Term insurance is often considered to be the best form of life insurance. But if you’re a 71 year old man or woman looking for insurance, this is not necessarily the case. 

There are several reasons why term insurance is not always the best choice for a 71 years old:

  • It is difficult to qualify for. Most seniors over 60 years applying for term insurance get denied due to their age or health issues or refuse coverage due to sky-high rates. 
  • You may outlive the policy. When taking out term insurance, you may end up paying high premiums and then end up outliving the policy. In the end, you risk being left with no insurance at all. 

So what other options do I have?

As a 71 year old, you want life insurance that you can’t outlive. This is why you may want to consider whole life insurance

You can’t outlive your whole life insurance coverage as long as you pay your premiums. What’s more, your rates will never increase. This part is especially important if you are on a fixed income. 

But what if I still want term insurance?

If you still want term insurance, that’s perfectly fine and we can help you find a suitable one. 

We can choose an insurance carrier who is easier on underwriting and can help you get quality term life insurance suitable for 71 year olds.

What if I am on a fixed income? Can I still afford life insurance?

Many of our senior customers are on low-income and can’t afford expensive premiums. At Buy Life Insurance For Burial, we will work with you to adjust the price to fit your budget. We will make sure to get you exactly the policy you need at a price that is acceptable for you. 

Can I get coverage for my 71 year old parent?

Yes, you can buy life insurance for your parents.

However, your parents must be willing to sign the policy. This means, unless you have power of attorney, you can only take out life insurance for your 71 year old parent with their consent. 

Once you have your parents’ consent, you can make payments for the policy premiums from your account. We have helped many customers get burial insurance and life insurance coverage for their parents. 

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I get mail from AARP, Colonial Penn, and see many television commercials about burial insurance. Why not buy insurance from them?

AARP and Colonial Penn have been advertising final expense burial insurance for seniors. However, there are a few things you need to keep in mind:  


AARP life insurance sells almost exclusively term life insurance. This type of life insurance policy cancels at age 80. So if you get to be over 80 years old, you risk losing your AARP term life insurance coverage. 

Plus, AARP plans go up in price every 5 years. This means that by the time you are 71 years old, the coverage becomes very expensive. Many seniors even have to drop their AARP plans, because the premiums get too expensive over time. 

Colonial Penn 

You have most likely seen commercials or gotten the letters in the mail for Colonial Penn life insurance, the company endorsed by Alex Trebek, the host of Jeopardy.  

One of the downsides of Colonial Penn’s “guaranteed acceptance” insurance is that it doesn’t cover a natural death in the first two years. You may want to find another product for your needs. 

At Buy Life Insurance For Burial, we can help you get you a better policy that may start immediately without the need to wait or risk outliving the coverage.

How can I get a free life insurance quote from you?

Getting a free life insurance quote from us if you’re 71 years old is simple. 

All you have to do is call us at 888-626-0439. If we’re unavailable, leave us a voicemail and we’ll call you back as soon as possible. You’ll get a quote for life insurance for 71 year olds in a matter of minutes.

If you prefer not to call us, you can also request a quote online. On a smartphone, click the button at the top to request a free quote. On your desktop computer, fill out the information to your right then click “submit”. You’ll receive several price options and we’ll follow up with you later to see what you think.