Life Insurance For An 89 Year Old: Get The Facts!

If you are an 89 years old senior interested in buying life insurance or you are looking for life insurance coverage for your 89 year old parent, you‘ve come to the right place.

In this article, we cover all the questions you might have when you’re looking to buy life insurance at the age of 89.

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What coverage options do I have at the age of 89?

Most 89 years old seniors choose from one of the following policy options:

  • Term life insurance. Term life insurance for seniors provides the most payout for the least amount of money. However, most seniors don’t get term insurance because it’s difficult to qualify for and it may cancel before you die. If you buy term life insurance, you may lose your coverage when you most need it. This is a risk you must take into consideration when choosing this type of insurance.
  • Universal life insurance. Like term life insurance, guaranteed universal life insurance for seniors may cancel prior to death if it’s set up incorrectly. But if set up right, universal life is permanent life insurance coverage that you can’t outlive. Universal life is a good option for healthier seniors looking for coverage that won’t cancel.
  • Whole life insurance. We usually recommend whole life insurance to our senior clients. Whole life insurance will never cancel due to your age or health, its rates won’t increase, and you qualify for first day full coverage. Our whole life insurance options also offer “simplified issue” underwriting, where you don’t need a medical exam to qualify.

I hear a lot of people talk about term life insurance. Should I get that?

While many seniors think that term life is the best form of life insurance, there are several reasons why it may not be the best choice for an 89 year old senior:

  • Term life insurance is difficult to qualify for. Most term insurance policies don’t get approved or they get rated up so high that the insured refuses to pay the higher premium. Most seniors your age applying for term insurance will get denied due to their age or health issues.
  • Term life insurance terminates. Most 89 year olds looking for life insurance believe that final expense coverage is important. But, with term life insurance, you may end up paying a huge sum of money in premiums and end up outliving coverage.
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If term insurance is no good, what option is best?

As an 89 years old senior, you should look for life insurance you can’t outlive. Whole life insurance may be the best answer.

It provides total peace of mind—you can’t outlive your coverage as long as you pay your premiums, plus the rates never increase.

What if I still want term insurance?

If you’re set on buying term insurance, we can help you. The good news is, term life insurance still makes sense for an 89 year old in some cases.

We have access to carriers that are easier on underwriting and can help you get quality term life insurance if that’s what you’re looking for.

I am on a fixed income. What kind of rates are we looking at?

The good news is that we can adjust the policy price to fit your budget. Many of our clients are low-income seniors on a tight budget. Our goal is to help everyone find a policy regardless of their financial situation.

Do I need to have a medical exam?

The short answer is no. 

Getting an exam when you’re 89 years old and want to apply for life insurance is optional. In fact, almost none of our senior clients take exams. Instead, they opt for something called “simplified issue” coverage. 

This is how it works: when you apply for one of our life insurance or burial insurance policies, the insurance company checks your past medical and prescription history to decide whether you’re approved. There is no need to undergo a medical exam.

Unlike most life insurance programs that require weeks of underwriting analysis, with our life insurance options for 89 year olds, you’ll get approval in a matter of seconds.

What if I’m not in the greatest shape. Can I still qualify for a life insurance policy?

You can qualify for life insurance even if you have a history of poor health. We have carriers with first day coverage for people with the following issues:

  •  Cancer
  •  Heart issues like heart attacks, strokes, etc.
  •  Mental health disorders
  •  Lung disease like COPD
  •  Diabetes, even if you use insulin or have diabetic complications
  •  Neurological disorders like Parkinson’s or lupus
  •  and so on.
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The only exception is if you have a significantly advanced pre-existing health condition. In that case, you can no longer qualify for no questions asked whole life insurance at the age of 89. 

Reasons Why

There are many good reasons why you should consider carrying life insurance at the age of 89, for example:

  • Covering final expenses. Many seniors retire with little savings and inadequate life insurance to pay burial or cremation costs. This is the most common reason why 89 year old men and women purchase life insurance.
  • Ensuring an income replacement. Some people buy life insurance at 89 to replace the income of their spouse who was the primary earner in the family.
  • Leaving a legacy of love. Some seniors buy life insurance to leave money behind to their children and grandchildren. 
  • Paying off debt. Many 89 year olds buy life insurance in order to pay off mortgage or credit card debt that will be left behind after their death.

I’m looking for coverage on my elderly parents. Can I get coverage on them?

Yes. We help lots of adult children get burial insurance or life insurance coverage on their parents and we’ll be able to help you too. 

Keep in mind, however, that you can buy life insurance on your parents as long as they sign off on the policy. You can’t authorize a life insurance policy on parents without their consent unless you have power of attorney. But if your parent agrees to taking out the life or burial insurance coverage, you can set up payments from your account to pay the policy premium.

What insurance carriers are best for coverage on seniors age 89?

There is not one single company that best fits every 89 years old looking for life insurance or burial insurance. This is because your health situation is unique and the way health factors are rated varies significantly between insurance companies. 

At Buy Life Insurance For Burial, we work with the nation’s highest-rated life insurance carriers. We’ll be able to help you find the best coverage option regardless of your health condition and financial situation. 

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

AARP and Colonial Penn are advertising final expense burial insurance on television and talking about how they help seniors pay for final expenses. But you need to be aware of all the details of their policies before you make your decision.

AARP life insurance offers almost exclusively term life policies. As we’ve seen above, term life insurance cancels. AARP’s policy cancels at age 80, which makes it not suitable for a senior who is 89 years old. 

Colonial Penn life insurance is the company once endorsed by Alex Trebek, the host of Jeopardy. 

If you read the fine print of their policies, you’ll find that their “guaranteed acceptance” product does not cover for full natural death for the first two years. Therefore, it’s very likely that you may qualify for something better with another product.

While both AARP and Colonial Penn provide coverage that can benefit some people, at Buy Life Insurance For Burial we believe that we can get you a better policy that will start immediately without the need to wait or possibly outlive the coverage.

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

Here’s what you need to do to get in touch with us for a free quote:

  • Speak to one of our friendly representatives by calling us toll-free at 898-626-0439. If we’re tied up and cannot answer the phone, simply leave a voicemail and we’ll call you back as soon as possible. It only takes 5-10 minutes to get a quick quote from us and see what life insurance would cost for an 89 year old.
  • Request an online quote. You can easily request an online quote. If you’re on a smartphone, click the button at the top. If you’re on your desktop computer, fill out the information to your right then click submit. You’ll get a few price options, and we’ll follow up with you shortly to see what you think.