Best Life Insurance for Seniors Over 65 Canada — Options & Comparison (2026)
Life insurance for seniors over 65 is still widely available in Canada — term, whole life, guaranteed issue, and final expense. This guide compares the best options, typical limits, and how to choose. For a full seniors overview see life insurance for seniors guide Canada.
Updated March 16, 2026
Term life for seniors over 65
Many insurers offer term life to ages 75 or 80. Premiums are higher than for younger applicants, and term lengths may be shorter (e.g. 10 years). If you’re healthy, term can still give the most coverage per dollar. Compare affordable term life and term life Canada.
Whole life and final expense
Whole life provides lifetime coverage and cash value; it’s more expensive but useful for estate planning. Final expense (burial) policies are small whole-life policies designed to cover funeral and related costs — often $5,000–$25,000. They’re easier to qualify for and have lower limits. See term vs whole life.
Guaranteed issue for seniors
Guaranteed issue life insurance has no health questions and no medical exam — you can’t be declined. Coverage limits are lower (e.g. $25,000–$50,000) and there’s often a graded death benefit for the first two years. It’s a good fit when other options aren’t available. See also life insurance without medical exam options Canada.
FAQ
Can seniors over 65 get life insurance?
Yes — term, whole life, guaranteed issue, and final expense. Limits and cost depend on age and health.
Best life insurance for a 70-year-old?
Healthy 70-year-olds can get term or whole life; others may need guaranteed issue or final expense. Compare quotes.
Is it worth it for seniors?
It can be for final expenses, debts, or legacy. Premiums are higher; compare cost vs benefit.
Compare life insurance for seniors
Compare life insurance quotes including options for seniors. Also see life insurance for seniors guide Canada and life insurance Canada.