Life Insurance for 89-Year-Olds
- Updated: February 14, 2023
- Rikin Shah | Licensed Life & Health Insurance Agent
- Fact-Checked (see our Editorial Guidelines)
Purchasing a life insurance policy the perfect way to ensure that your loved ones don’t face the financial burden of your passing. Whether you’re looking to cover end-of-life expenses, leave a legacy, or provide financial support for your family members, a life insurance policy can offer the necessary coverage and protection.
This article will provide valuable information on final expense life insurance and rates available for those in this age group. By exploring these options, seniors can make an informed decision about their life insurance needs and ensure that their loved ones are protected in the event of the unexpected.
(Note: see here if you’re looking for 88-year-old life insurance.)
Life Insurance Options for 89-Year-Olds
Final expense insurance, also known as burial insurance, is a type of life insurance that is specifically designed to cover expenses related to end-of-life, such as funeral costs, outstanding debts, and other related expenses.
This type of insurance policy offers several key features that are important to understand, including:
- Permanent coverage that lasts for the entire life of the policyholder.
- Coverage amounts that typically range from $2,000 to $50,000, providing flexibility to policyholders to choose the amount of coverage that best suits their needs.
- A streamlined application process that usually does not require a medical examination, which makes it easier for individuals to apply for coverage.
- Riders, which are add-on benefits, that provide additional protection in specific cases such as accidental death, critical illness, or long-term nursing home care.
- Cash value that builds over time, which allows the policyholder to borrow against the life insurance policy for urgent expenses such as medical expenses.
89-year-olds are not eligible for the following types of life insurance:
- Term life insurance
- Accidental death life insurance
- Guaranteed acceptance life insurance
Burial Insurance
15 companies competing for your business
97% of the time we beat Colonial Penn
30 days to get your money back, no questions asked
* Based on website quote requests, through 2/28/23.
(Check your rate to see their rates vs. ours)
Whole Life Insurance Rates For 89-Year-Old Men
| Coverage Amount | Male (Non-Smoker) | Male (Smoker) |
|---|---|---|
| $2,000 | $74 | $117 |
| $3,000 | $110 | $174 |
| $4,000 | $145 | $231 |
| $5,000 | $181 | $288 |
| $6,000 | $216 | $345 |
| $7,000 | $252 | $402 |
| $8,000 | $287 | $459 |
| $9,000 | $322 | $515 |
| $10,000 | $358 | $572 |
| $11,000 | $393 | $629 |
| $12,000 | $429 | $686 |
| $13,000 | $464 | $743 |
| $14,000 | $500 | $800 |
| $15,000 | $535 | $857 |
| $16,000 | $571 | $914 |
| $17,000 | $606 | $970 |
| $18,000 | $641 | $1027 |
| $19,000 | $677 | $1084 |
| $20,000 | $712 | $1141 |
| $21,000 | $748 | $1198 |
| $22,000 | $783 | $1255 |
| $23,000 | $819 | $1312 |
| $24,000 | $854 | $1369 |
| $25,000 | $889 | $1425 |
The table shows burial insurance rates for non-smoker and smoker men at different coverage amounts for 89-year-old individuals.
The range of prices for non-smokers is from $74 for $2,000 of coverage to $889 for $25,000 of coverage. The range of prices for smokers is from $117 for $2,000 of coverage to $1,425 for $25,000 of coverage.
There is a significant difference in prices between non-smokers and smokers, with the rates for smokers being consistently higher than those for non-smokers across all coverage amounts. For example, at the $10,000 coverage amount, the non-smoker rate is $358 while the smoker rate is $572, which is a difference of $214.
The prices go up by different amounts for every $1,000 of coverage you buy, with the increase being higher for smokers than for non-smokers. For non-smokers, the price increase ranges from $36 to $47 for each additional $1,000 of coverage, while for smokers, the increase ranges from $57 to $72 for each additional $1,000 of coverage. This is consistent with the higher rates for smokers, as they are generally considered a higher risk for insurance companies.
How Much Is Life Insurance For An 89-Year-Old Woman?
| Coverage Amount | Female (Non-Smoker) | Female (Smoker) |
|---|---|---|
| $2,000 | $58 | $80 |
| $3,000 | $85 | $118 |
| $4,000 | $112 | $156 |
| $5,000 | $140 | $194 |
| $6,000 | $167 | $232 |
| $7,000 | $194 | $270 |
| $8,000 | $221 | $308 |
| $9,000 | $248 | $346 |
| $10,000 | $276 | $384 |
| $11,000 | $303 | $422 |
| $12,000 | $330 | $460 |
| $13,000 | $357 | $498 |
| $14,000 | $384 | $536 |
| $15,000 | $412 | $574 |
| $16,000 | $439 | $613 |
| $17,000 | $466 | $651 |
| $18,000 | $493 | $689 |
| $19,000 | $521 | $727 |
| $20,000 | $548 | $765 |
| $21,000 | $575 | $803 |
| $22,000 | $602 | $841 |
| $23,000 | $629 | $879 |
| $24,000 | $657 | $917 |
| $25,000 | $684 | $955 |
The table shows burial insurance rates for non-smoker and smoker women at different coverage amounts for 89-year-old individuals.
The range of prices for non-smokers is from $58 for $2,000 of coverage to $684 for $25,000 of coverage. The range of prices for smokers is from $80 for $2,000 of coverage to $955 for $25,000 of coverage.
There is a difference in prices between non-smokers and smokers, with the rates for smokers being higher than those for non-smokers across all coverage amounts. For example, at the $10,000 coverage amount, the non-smoker rate is $276 while the smoker rate is $384, which is a difference of $108.
The prices go up by different amounts for every $1,000 of coverage you buy, with the increase being higher for smokers than for non-smokers. For non-smokers, the price increase ranges from $18 to $28 for each additional $1,000 of coverage, while for smokers, the increase ranges from $24 to $34 for each additional $1,000 of coverage. This is consistent with the higher rates for smokers, as they are generally considered a higher risk for insurance companies.
Burial Insurance
15 companies competing for your business
97% of the time we beat Colonial Penn
30 days to get your money back, no questions asked
* Based on website quote requests, through 2/28/23.
(Check your rate to see their rates vs. ours)
Top Life Insurance Companies for 89-Year-Olds
If you are an 89-year-old individual seeking to obtain final expense insurance coverage, then Aetna’s “Protection Series” plans may be an option worth considering. Protection Series is offered to individuals between 40-89 years of age have access to coverage from $2,000 to $25,000.
This means that you can choose the level of coverage that best suits your needs and budget. Additionally, Aetna’s plans have a simplified application process, which can make it easier for seniors to apply and obtain coverage.
Aetna has also earned an “A” rating from AM Best, an independent ratings agency that evaluates insurance companies’ financial strength and claims-paying ability. This rating is an important indicator of an insurance company’s reliability and stability, which can provide you with peace of mind that your beneficiaries will receive the death benefit payment when the time comes.
Burial Insurance
15 companies competing for your business
97% of the time we beat Colonial Penn
30 days to get your money back, no questions asked
* Based on website quote requests, through 2/28/23.
(Check your rate to see their rates vs. ours)