Can you get life insurance over 70?

Yes, the good news is that you can get life insurance over 70.

It’s a welcomed fact that people in the UK are now living longer than ever before.

According to ONS data, between 1980-82 and 2018-20, the average life expectancy has risen from 71 to 79 years for men and 77 to 83 years for women[1].

As a result, many people are arranging life insurance later in life, or need to renew cover due to outliving their policy.

You may be eligible for the following policies in your 70s:

The type of policy that’s right for you will depend on your personal circumstances and your budget.

Contact Reassured to find out which life cover options are available to you and to compare free quotes.

In 2022, we helped more than 4,000 people in their 70s secure life insurance to suit their needs and budget.

Learn more about over 70 life insurance policies and how we can help you secure the right cover in this guide...

Do I need life insurance over 70?

Whether you need life insurance over 70 will depend on your personal and financial circumstances.

Some common reasons people take out life insurance in their 70s include:

  • To help cover funeral costs
    In the UK, the average total cost of dying is currently £9,200, with the average cost of a funeral being £3,953[2]. Life insurance can help to reduce this financial burden for loved ones
  • To help cover future living costs of dependants
    If you live with a spouse or other dependants, a life insurance pay out could help them cover essential costs such as the rent or mortgage, household bills and care fees
  • To help clear outstanding debts
    The pay out could help to clear outstanding debts in your name, such as personal loans, car finance or credit cards
  • To leave behind an inheritance
    You could provide your children and/or grandchildren with a cash gift after you’re gone to spend how they wish. For example, they could use the money towards university fees, a house deposit or a new car
  • To avoid or minimise inheritance tax
    If your estate is worth over £325,000 then 40% tax will be applied to any amount over this threshold. Life insurance, when written in trust, could help to cover this tax bill and provide your loved ones with a larger inheritance

Life insurance is a practical and affordable way to set money aside for your loved ones for the future.

Although, it’s best not to delay taking out cover, as premiums get more expensive as you get older.

Contact Reassured today to find your ideal policy and lock-in the best possible rate we can offer you.

Over 70s life insurance calculator

How much life insurance do you need? Fill in our simple calculator with the costs you would like your life insurance policy to cover.


Research carried out by SunLife has found that the average cost of a funeral in the UK is £3,953 and the average cost of dying in total is £9,200.

The pay out from your life insurance could help to relieve some of this financial burden for loved ones.



A cash gift can be used by your children and/or grandchildren to help them with higher education costs, outstanding debts, taking a holiday and so on.

If your policy is written in trust (a service available through Reassured), you can choose who’ll receive the money from your policy and when.


20% of new retirees in 2022 planned to rely on their state pension to get by, which is £185.15 per week.

Your life insurance pay out could help a loved one to live comfortably during their retirement.



31% of people aged 65 - 74 and 18% aged over 75 have some form of personal debt.

If you have outstanding debts in your name, such as a credit card or overdraft, then you could factor these in when calculating how much cover you need.



If you have other types of financial protection already in place such as an existing life insurance policy or a prepaid funeral plan, then this might reduce the amount of new cover you need.

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Are you approaching your 80s? Read our comprehensive article on over 80 life insurance options »

What is the best life insurance for over 70?

The best life insurance for you will depend on your personal circumstances and budget.

One of the most popular types of life insurance is term-based life insurance (level or decreasing cover), as its usually the cheapest.

You may consider a term-based policy if you’re looking to help cover certain financial commitments such as a mortgage or other debts.

Alternatively, if you’re over 70 with a pre-existing medical condition then you may find that an over 50s plan could be more suitable.

An over 50s plan guarantees acceptance to people aged 50 - 85, and the application doesn’t include any medical questions.

Over 70 life insurance no medical (over 50s plan)

  • Guaranteed cash pay out to your loved ones when you pass away
  • Sum assured up to £20,000 (depending on your individual circumstances and budget)
  • Guarantees acceptance (UK residents aged 50 - 85)
  • No medical information required
  • Fixed premiums from 20p-a-day + through Reassured

An over 50s plan is the only type of life insurance with no medical questions on the application form.

You can apply for an over 50s plan in your 70s and it’s guaranteed that you’ll be offered a policy. Although, your specific age and smoking status will determine the maximum pay out you can secure.

An over 50s plan lasts for the rest of your life, which means your loved ones are assured a pay out when you pass away, (not if you pass away). This makes it a type of life assurance.

The pay out can be used by your loved ones to help cover your funeral costs and other expenses after you’re gone.

Your monthly premium will be determined by your age, the sum assured (pay out amount) and your smoking status.

The cost of your monthly premium is fixed which means it will never go up.

An over 50s plan is a good alternative to standard life insurance for many people over 70, however there are a couple of important aspects to bear in mind:

1. Monthly premiums are ongoing until you pass away or until you reach a certain age (such as 90), depending on the plan you choose

Therefore, it’s important to consider your budget and choose a level of cover you can afford both now as well as in the future.

2. A waiting period applies with all over 50 plans

Over 50 plans employ a waiting period (or qualifying period) at the beginning of the policy, which lasts 12 or 24 months.

This means, if you pass away due to natural causes during this initial period, a pay out won't be made. Any premiums you’ve paid will be refunded to your beneficiaries.

However, death caused as a result of an accident during the waiting period is still eligible for a claim.

Get in touch with Reassured to arrange life insurance for seniors over 70 no medical exam.

Whole of life insurance for over 70s

  • Guaranteed cash pay out to your loved ones when you pass away
  • Sum assured usually higher than an over 50s plan
  • Medical information required
  • Fixed premiums from 27p-a-day ± through Reassured

Whole of life insurance could be a suitable option for applicants in their 70s who are in good health.

This type of policy is also known as life assurance as it lasts for the rest of your life and assures that your loved ones receive a pay out when you pass away.

The money can be used to help them cover funeral costs, pay off outstanding debts and/or to spend as an inheritance.

The application for whole of life insurance involves health-related questions and possibly a medical exam.

Providing details of your medical history or undergoing a medical could allow you to secure the same level of cover as an over 50s plan but for a lower premium.

Or, depending on your personal circumstances, you may be able to secure a greater sum assured.

The cost of your life insurance premium is determined by your age, health, smoking status and the level of cover.

As the policy remains in place for the rest of your life, you’ll need to continue paying your monthly premium until you pass away.

This means that, depending on how long you live, it's possible to pay more into the policy than what’s paid out to your loved ones.

Reassured can help you determine if whole of life insurance is the right option for you. Get in touch today for your free quotes.

Funeral plans for over 70s

  • Designed to cover key funeral costs
  • Guarantees acceptance to UK applicants (min and max age limits will apply)
  • No medical information required
  • Reassured do not sell prepaid funeral plans

A funeral plan gives you the option to cover the cost of your funeral ahead of time.

It helps to protect your loved ones from unexpected costs when you pass away.

With a funeral plan you can also make the arrangements for your final send-off, so there’s less worry for your loved ones during an already difficult time.

You can choose a funeral plan based on the services you’d like it to include and your budget.

Please note, Reassured are unable to sell funeral plans. If you are looking for a funeral plan we suggest you check the FCA register to find a regulated provider.

Term life insurance over 70

  • Pays out to your loved ones if you pass away during a specified term
  • Term length from 1 - 20 years (depending on your age and the sum assured)
  • Level or decreasing term options available
  • Medical information is required
  • Fixed premiums from 20p-a-day through Reassured

Term-based life insurance will cover you for a set period of time (the term). If you pass away during the term, then a cash lump sum is paid out to your loved ones.

As mentioned, this type of cover is designed for people who want to help cover their mortgage and other essential costs in the event that they pass away before these are paid off.

There are two term-based life insurance options:

  1. Level term life insurance - Provides a fixed sum assured (the pay out amount stays the same throughout the term)
  2. Decreasing term life insurance - Provides a decreasing sum assured (the pay out amount reduces throughout the term)

Term life insurance requires your medical information, so if you’re over 70 with a pre-existing medical condition then this will affect your premiums as well as the amount and length of cover you can secure.

One of the drawbacks of this type of cover is that it’ll expire after the set term (1 - 20 years) and there’s a chance you could outlive your policy.

If you’re looking for a guaranteed pay out when you pass away, then you may opt for an over 50s plan or whole of life policy.

Contact Reassured to find out if term life insurance over 70 is the right option for you.

How much is life insurance for a 70-year-old UK?

The cost of life insurance for over 70s depends on your personal circumstances and the type of policy you choose.

Insurers take into account a variety of factors to assess the level of risk you pose and calculate your monthly premium accordingly.

The key cost factors include:

  • Your age
  • Your health & wellbeing
  • Your medical history
  • Your BMI
  • Your smoking status
  • Terms of the policy (sum assured, length of cover if applicable)

With the exception of an over 50 plan which only takes into account your age, the sum assured and your smoking status.

As mentioned, an over 50 plan guarantees acceptance and doesn’t require you to disclose your medical history.

The table below shows examples of the amount of cover you could get for each policy type as a non-smoker in good health paying a monthly premium of £35:

AgeLevel term (10 year term)Decreasing term (10 year term)Whole of life insuranceOver 50s plan

Contact Reassured to compare your free, no-obligation, personalised quotes.

Why is life insurance for over 70s more expensive?

It's no secret that the cost of life insurance increases as you age, (as the risk of a claim is higher).

This is due to the following reasons:

  • You're more likely to have suffered a medical condition
  • You're at higher risk of developing a future medical condition
  • The older you are, the shorter your life expectancy

This makes it even more important to seize the day if you're deliberating taking out life insurance.

Find out how you could save money on your over 70 life insurance by reading our top tips below…

Can you get critical illness cover (CIC) over 70?

It might be possible to take out critical illness cover if you’re under the age of 75. This is currently offered by Reassured’s partner AIG.

However, securing the cover might entail additional medical reports or exams and your premiums may be expensive.

Critical illness cover offers a pay out if you're diagnosed with a serious, yet non-life-threatening illness, including stroke, heart attack, blindness or some cancers.

If you meet the eligibility criteria, it could be added to a term life insurance policy for an additional cost.

Critical illness cover may be worthwhile if you’re under 75 and in good health. However, you’ll still pay significantly more due to your age.

Get in touch with Reassured to see if you could secure critical illness cover.

Free terminal illness cover

Some of the life insurance policies arranged through Reassured come with free terminal illness cover as standard.

Terminal illness cover means that you can make an early claim on your policy if you're diagnosed with a life-threatening illness and given less than 12 months to live.

An early pay out could be used to help settle your finances prior to your passing or contribute towards the cost of a private carer.

Once your life insurance has paid out for terminal illness, your loved ones won’t be able to claim again after your death.

To find out which policies offer this free additional cover then simply ask a member of our friendly team.

Joint life insurance for over 70s

Joint life insurance is available with whole of life and term-based policies, but not over 50 plans.

A joint policy covers two lives simultaneously and there’s only one monthly premium to pay between both parties.

It can provide a cost-effective alternative to taking out two single policies, (saving up to 25%).

For a couple in their 70s, there are some key points to consider before opting for joint life insurance:

  • A joint policy will only pay out once, usually on the first death, and then will expire. This means the surviving partner will need to source new cover for themselves at an older age when it may be more difficult
  • The cost of a joint policy takes into account the personal circumstances of both named parties. This means if one partner is considered a high-risk, for example they have a pre-existing medical condition, then the partner who’s lower risk would be paying a more expensive premium than is necessary

For these reasons, if it's financially viable, taking out two single policies would provide a greater level of cover for both parties.

The table below shows example premium prices for two single policies vs a joint policy.

Quotes are based on non-smokers, aged 70 who’re in good health, for a pay out amount of £20,000:

Policy typeTwo single policiesJoint policy% Saving
Whole of life insurance£145.88 p/m£118.87 p/m-20.40%
Level term (10 years term)£44.04 p/m£41.16 p/m-6.76%
Decreasing term (10 years term)£35.22 p/m£32.94 p/m-6.69%

Over 70 life insurance in trust (free trust writing service)

Regardless of your age, when taking out life insurance, it could be very beneficial to write your policy in trust (if offered by your provider).

Writing your life insurance in trust passes ownership of your life insurance policy over to someone you trust (a trustee), similar to an executor of a Will.

Writing your life insurance in trust brings three key benefits:

Icon green tick Helps avoid/minimise inheritance tax (IHT) liability for your loved ones (40% over £325,000)

Life insurance that’s not written in trust is subject to 40% inheritance tax over the £325,000 threshold.

However, writing your policy in trust can detach your policy from your estate, which means it won’t be subject to inheritance tax - allowing your family to receive the full pay out sum.

If you’re estate is worth over £325,000, including the value of your life insurance policy, then you may choose to write your life insurance into trust.

Icon green tick  Avoids probate, for a faster pay out

If your life insurance policy is considered as part of your estate, then it will also need to go through the probate process.

Probate can take 6 - 9 months in the UK, which means your family won’t be able to make a claim until after this period.

A policy that’s written in trust will pay out much quicker, generally in just a few weeks.

Icon green tick  Allows you more control over your policy and the proceeds

With your life insurance written in trust, you can have peace of mind that the funds will be spent as you intended.

You can decide who receives the pay out, as well as when and how you want it to be distributed.

Reassured provide a free trust writing service with most of our policies, so get in touch and make the most of this valuable service today.

Compare over 70 life insurance quotes (save time & money)

While it’s possible to get life insurance in your 70s, the cost of your chosen policy will vary between insurers.

Using a broker, such as Reassured, will allow you to easily compare multiple quotes from the biggest insurers in the UK.

Our award-winning team can also help you with process of applying for life insurance as well as answer any questions you may have.

Reassured also offer a free trust writing service to help you write your policy in trust, with the majority of policies we sell, which can ensure that your family receive a quicker and fuller pay out when the time comes.

And the best part; our FCA-regulated life insurance broker service is fee-free and without obligation.




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