Life Insurance at Age 69 – Tips for Finding the Best Rates

While finding a​n affordable life insurance policy at 69 might seem difficult compared to finding a policy in your younger years, it is far from impossible. Although there may not be quite as many options for life insurance ​over 60, there are still plenty. Enough that there is surely one that will fit your family’s needs. Keep reading for view sample rates for 69 year olds. We will also share tips on how to save money on life insurance.

​Quick Summary

The key to finding the right life insurance option for you is to examine all of the options. That could mean either examining all the choices yourself or working with an independent agent. Rates vary between companies regarding age and any medical conditions you might have. It’s important to find what will work best for you.

​To get ​fast, free, and accurate rates for your age, use our ​Instant Quotes tool on this page. (Top on mobile.)

Tips for Saving Money on Life Insurance

These simple strategies will help you save money on your life insurance, even at 69. With just a few steps you can learn how to get the best policy at a price you can afford.

Find Out How Much Coverage You Need

The key to not paying too much for life insurance is knowing how much you need for your situation. There is no use in paying for more life insurance than you need. Everyone has different requirements, so it’s important to find the balance between too much and too little. To find out exactly how much you should be paying, use our life insurance calculator or contact us at (888) 905-0333.

There are plenty of life insurance “Rules of Thumb,” out there. Whether it’s your annual income times a certain number, or a certain amount added with each child, the amount is subjective and different for everyone. But these “rules” don’t apply so much once you’re at retirement age. As you get older, your income may not be the same as it was when you were working.

This doesn’t mean you should spend less on life insurance. By using our life insurance calculator, you can figure out exactly how much to pay, without overspending, while still getting all the coverage you need.

Working With an Independent Agent Saves Money

Each company provides different rates based on things like pre-existing conditions, so it’s important to know all of your options. If you don’t want to have to do all the research yourself, ​have an independent agent do the cost-comparison research for you.

An agent working directly for an insurance company ​(captive agent) can only sell you the insurance from their company. That’s why it is beneficial to find an independent agent. While other agents work for a company, an independent agent works for you.

This means they can shop around until they find the plan that will work best for you. They can help you find the best price without being bound to one specific company.

Be Open About Your Health

It’s important to tell your agent about any health conditions you might have or medicines you may take. While having a pre-existing condition, or less than optimal health might eliminate some of your options, that does not mean you can’t get insurance. Each company treats every condition differently. An independent agent can find which company will give you the best rates according to your health.

life insurance tips for a 69 year old

This doesn’t only apply to your current health either. Your medical history can affect your rates. Basically, anything that could affect your lifespan could affect your insurance rates. Again, rates will vary between companies, so that’s why it’s so important to research multiple options from several companies.

​Requalifying or Renewing Your Policy Can Offer a Price Advantage

If you already have a life insurance policy, but your health situation isn’t as optimal as it once was, you might want to consider renewing your current policy or even converting it.

Keep in mind though, that if you want to do this, then you need to act before your current policy expires. The insurance company will require you to reapply if your policy has already expired. You also need to have a policy which allows renewing or converting.

Although renewing ​will cause your rates to increase, it will allow you to remain in the same health class. ​The extra ​premium based on your age will be worth it, because you can keep your health class. This will help save money overall if your health isn’t as excellent as when you took out your initial policy.

If your health is better than when you took out your policy, you might consider requalifying. This way you can actually end up in a better health class. This could require switching policies or companies, but it can also mean lower rates. This option requires you going through the entire life insurance application process again.

Sample Rates for a 69 Year Old Male

These monthly rates are based on a male who is in relatively good health and does not smoke. Your prices may be higher if your health is not optimal. However, they may be lower if you are in excellent health. You can use our Instant Quotes Tool to compare rates from different companies.


​10-Year Term





​20-Year Term





Sample Rates for a 69 Year Old Female

These are monthly rates for a female in relatively good health who does not smoke. Rates are individualized based on health, and family history, among other things, so your rates may be higher or lower, depending on your personal circumstances.


​10-Year Term





​20-Year Term





​Term Vs. Permanent Life Insurance

​At first glance, permanent life insurance may seem like the optimal choice. With lifetime you wouldn’t need to worry about outliving your term, but that isn’t the only factor you should consider.

Term Insurance

Term insurance costs roughly 10% of a permanent life insurance policy with the same benefits. ​Plus, there is always the option to renew your policy if you outlive your current term.

At 69, your term lengths get limited. After 66​, you can still get 10, 15, or 20-year term insurance, but not a 25 or 30 year term.

In the end, everyone’s situation is different. If you’re still working, it might be a good idea to get term insurance until you retire. If you need estate planning, it’s better to get permanent insurance. But overall, term insurance is the best way to get the most coverage for the least amount of money.

Permanent Insurance

The permanent variety of life insurance basically just means it will never expire. Your family will receive death benefits ​, no matter when you die.

Whole life permanent insurance is currently the most popular type of insurance in the United States.

This type is not only permanent coverage, but it also builds a savings portion with cash value. This can be borrowed against, or used to pay premiums.

On top of all of this, your family will receive death benefits for after you pass. You can use this to plan a funeral, cover burial costs, pay for medical bills, or it can be given to family members among other things.

Life Insurance with a Pre-Existing Condition

While it can complicate things, having a pre-existing condition doesn’t mean you can’t get insured. At 69 you’re no longer entitled to a no exam option, but even if you aren’t in perfect health, getting life insurance isn’t impossible.

life insurance with pre-existing medical conditions

​Remember, each company treats each health condition differently. With enough searching, you can find a policy that will work for you even with less than prime health. ​This is where an independent agent can really come in handy.

Your agent will shop your case around in a process called pre-screening. This means they will be able to get you a tentative health class from companies while still keeping you anonymous. ​It prevents surprise price hikes during underwriting.

Other Pre-Existing Condition Options

Even with a great independent agent, there are still some situations that make it difficult to get insured. For example, most companies won’t want to give a traditional policy to someone with cancer or a terminal illness.

Another option is guaranteed life insurance. This type accepts anyone, no matter ​what health problems they may be experiencing. With guaranteed life insurance the premiums are higher, and the payout is lower. However, health is no longer a factor.

Guaranteed issue works with something called graded benefits. This means you probably won’t be able to get a full payout for at least the first two years. Most of the time a full payout isn’t available until you’ve held the policy for three years.

Most policies aren’t offered after 75, but that’s not to say there aren’t any available at all.

Guaranteed life insurance definitely isn’t optimal. Make sure you shop around all of your other options before deciding to commit to a guaranteed plan.

Final Expense Insurance

This is a relatively new style of policy meant for people who only need enough cash to cover their funerals and burial or cremation. The benefit amounts are low. They cap at $25,000, but most people opt for $10,000. (That is the average cost of a funeral in the United States.)

It’s a permanent policy so it typically costs a little more than a term policy, but it also doesn’t expire.


Getting life insurance at 69 is definitely possible, even if you have a medical condition. The key at this age is to know all of your options. Do your research, find an independent agent, and use our Instant Quotes Tool, to find the best rates available to you.

​How Abrams Insurance Solutions Can Help

At Abrams Insurance Solutions, our team is focused on getting the right insurance for your family at the lowest possible price. From designing policies that fit in with a wealth building financial plan to covering expenses you might leave behind, we tailor every policy to your needs.

​We are an independent insurance agency. Which means that we work for our client and not an insurance company.

​If you have any questions or are wondering what might be best for your family give us a call at (888) 905-0333. We are here to help and there is never any obligation to buy.