Life insurance after 70 is still available in Canada, but options become more limited and more dependent on your health.
Many seniors in their 70s choose senior life insurance coverage designed for final expenses, with simpler approval processes and smaller policy amounts.
Compare Life Insurance Quotes After 70
Life Insurance Options for Seniors Over 70
After age 70, the range of available life insurance options narrows. While some seniors in excellent health may still qualify for traditional or term coverage, most applicants move toward simplified or guaranteed life insurance.
Common options include:
- Term life insurance – Still available in some cases, but often limited by age restrictions and higher premiums
- No medical life insurance – Designed for those who prefer a simple application or may not qualify for traditional policies
- Simplified life insurance – A common no medical option for seniors in their 70s, offering coverage without a medical exam but requiring health questions
- Guaranteed life insurance – A widely used no medical option after 70, offering approval with no health questions but higher costs and lower coverage amounts
At this stage, coverage is often focused on final expenses (i.e. funeral insurance or burial insurance) rather than large financial protection.
| Type | Medical Exam | Health Questions | Approval Time | Cost | Best for |
| 1. Guaranteed Issue Life Insurance | Instant – 24 hours | $$$ | Seniors in their 70s with serious health conditions | ||
| 2. Simplified Issue Life Insurance | Same day-few days | $$ | Seniors in their 70s with moderate health conditions | ||
| 3. Traditional Life Insurance (Fully Underwritten) | 2 to 6 weeks | $ | Healthy seniors in their early 70s (limited availability) |
Challenges of Getting Life Insurance After 70
Life insurance becomes more restrictive after age 70, and approval depends more heavily on both age and health.
Many insurers reduce maximum coverage amounts or stop offering certain types of policies altogether. Term life insurance becomes less common, and approval for higher coverage amounts is more difficult.
Health plays a bigger role at this stage. Even manageable conditions can affect eligibility, and more applicants may be directed toward simplified or guaranteed options.
As a result, premiums increase significantly compared to policies purchased earlier in life, and choices between insurers become more important.
Cost of Life Insurance After 70
The cost of life insurance increases noticeably after age 70, mainly due to higher risk and fewer available options.
In general:
- Premiums are significantly higher than at age 60
- Simplified policies offer a middle ground between cost and approval
- Guaranteed life insurance is often the most expensive option
Coverage is typically smaller, often focused on $5,000 to $50,000 for final expenses.
Sample TERM 10 life insurance quotes for $25,000 and $50,000 coverage for a 72-year-old, non-smoker.
| Coverage | Male | Female |
| Term Life insurance: $50,000 | From $93/month | From $65/month |
| Term Life insurance: $100,000 | From $187/month | From $129/month |
Sample SIMPLIFIED life insurance quotes for $10,000 and $25,000 coverage for a 72-year-old, non-smoker.
| Coverage | Male | Female |
| Simplified Life insurance: $10,000 | From $68/month | From $47/month |
| Simplified Life insurance: $25,000 | From $162/month | From $112/month |
Sample GUARANTEED life insurance quotes for $10,000 and $25,000 coverage for a 72-year-old, non-smoker.
| Coverage | Male | Female |
| Guaranteed Life insurance: $10,000 | $115/month | $87/month |
| Guaranteed Life insurance: $25,000 | $280/month | $212/month |
Life Insurance Brokers for Seniors Over 70 in Canada
Working with a broker helps you find insurers that are still actively offering competitive options, while avoiding unnecessary declines and overpaying for coverage.
How to Get Better Life Insurance Rates After 70
At this stage, improving your rate is less about optimization and more about choosing the right type of policy.
- Focus on the Right Policy Type: If traditional coverage is not available, simplified life insurance may offer better value than guaranteed life insurance policies.
- Compare Insurers Carefully: Pricing differences between insurers can be significant, especially after age 70.
- Choose Realistic Coverage: Policies are often used for final expenses. Selecting an appropriate coverage amount helps manage costs.
- Apply Sooner Rather Than Later: Rates increase quickly with age, and some options may no longer be available in later years.
Frequently Asked Questions About Life Insurance After 70
Can you get life insurance after 70 in Canada?
Yes, many seniors can still get life insurance after 70, although options are more limited. Most policies are simplified or guaranteed.
What is the best life insurance after 70?
For most seniors, simplified life insurance or guaranteed life insurance are the most practical options due to easier approval.
Is life insurance expensive after 70?
Yes, premiums are significantly higher than at younger ages, and coverage amounts are typically lower.
Can I get life insurance with no medical exam after 70?
Yes, no medical life insurance options are widely available and commonly used at this age.
How much coverage should a 70-year-old have?
Many seniors choose coverage between $5,000 and $50,000 to cover funeral and final expenses.