Life Insurance for 75-Year-Old Woman, What You Need and What It’ll Cost

life insurance for 75 year old woman

Some people wonder if life insurance is a good idea after a certain age. Most of the time, people will get life insurance when they are younger or when they have children living at home. Regardless of how old or young you are, it can be useful to have life insurance. Life insurance is a necessary purchase for most people to make at any age. 

If you are a 75-year-old woman, it can be nice to have life insurance to give you peace of mind. One of the main reasons to get life insurance at this age is that you are more prone to having health issues. Life insurance offers protection for you as you deal with these health issues and as they develop. 

Plus, life insurance also helps your loved ones to cover your final expenses. You do not want to put that additional stress on them as they grieve. It is important to get life insurance at all ages, even if you are 75 years old. No matter your age, you can still get the life insurance that you need.

Types of Life Insurance for 75-Year-Old Woman

If you are a woman who is 75 years old, there are several different types of life insurance for you to choose from. It is a good idea to make sure you understand these different types so you can make the best possible decision for yourself. Keep in mind that life insurance is personal to you, which is why you should compare these options and consider your needs.

The three main types of life insurance available to you are term life, whole life, and universal life/guaranteed universal life. Guaranteed universal life is also known as permanent term. Here is everything you need to know about each of them. 

Term Life Insurance

Term life insurance is life insurance that is designed to last for a set amount of time. Common term lengths are for 10, 20, and 30 years. The premium for a level term policy will not change for the length of the term period. You get to make this decision based on the needs of you or your family. Term life insurance is known for being more affordable and easier to understand than other types of life insurance. 

Term life insurance only has value if you pass away prematurely. If you have an active term life insurance policy when you pass away, your beneficiaries will receive the payout. Once that term expires, there is no value to the policy. 

Term life insurance also cannot be used to build cash value. The premium typically remains consistent throughout the duration of the policy’s term. Most people buy term life insurance so that the term lasts for the duration of time that their children will be living at home or for some other temporary purpose. After that, some people choose not to add additional terms. 

Most affordable option 

As mentioned, term life insurance is a more affordable type of life insurance. How much coverage you need and how long the term is will last affect the cost of your term life insurance. If you get a longer-lasting term or a policy with more coverage, the cost will increase. Still, because term life insurance is affordable, the cost should not be too high. 

Also, the monthly premium that you pay should remain the same throughout the duration of the term. This means that you can always expect to pay the same amount each month. It will not go up or down unexpectedly. This, plus the affordability, make term life insurance an easy option. 

Whole Life Insurance

Whole life insurance comes in a few shapes and sizes when you’re 75 years of age. Here are a few examples of policies you can get. 

Final Expense

Final expense is one type of whole life insurance. This type of policy is designed to cover any final expenses when you pass away. This is a popular option for seniors and is a wise choice for 75-year-old women. This type of life insurance helps to cover any final expenses, such as medical bills and funeral and burial costs. This helps your family so they do not have to do with the financial burden as they grieve.  

With final expense, whole life insurance, there is no expiration date as long as you are paying your premiums. The premiums are also fixed as long as you continue to pay them. The application and approval process is fairly simple for final expense life insurance as well. It is a great option if you simply want to be able to help with those final expenses, such as medical bills and funeral costs.

Guaranteed Issue 

If you have health issues, it can be difficult to get insurance. This is because life insurance companies want to know how healthy you are. If you are not in good health, it can be risky for them to insure you. This is where guaranteed issue life insurance can be useful. With guaranteed issue whole life insurance, you are guaranteed to be insured. This is not a bad option, but it should not be your first choice. If you are not insurable by another type of life insurance, it can be a good backup plan. 

With guaranteed issue, the life insurance company cannot refuse to insure you. By choosing guaranteed issue life insurance, you bypass the medical questioning and medical exam. With other types of life insurance, these questions and the exam determine whether you are insurable and they determine your premium. Without them, you will be paying more because of the risk insurers take when insuring you. 

Universal Life and Guaranteed Universal Life

Another option for permanent insurance is Universal Life Insurance. If you’re looking for pure protection permanent insurance, then GUL might be your best bet. Let’s dive into detail on each. 

Universal Life

Universal life insurance is a type of permanent life insurance. It allows for flexible premiums. There are less guarantees with current assumption universal life so you do need to monitor these policies to make sure they are performing as needed. It also offers lower premiums compared to other types of permanent life insurance. There are various universal life options so be sure to speak with your agent about multiple UL options available to you.

Guaranteed Universal Life

Another type of permanent life insurance is guaranteed universal life insurance. Guaranteed universal life has some similarities and differences when compared to current assumption universal life. This type of life insurance policy is guaranteed not to lapse as long as the premium is paid. This is true even if the cash value of the policy goes down to zero. When the insured passes away, the lump sum is paid tax-free to the beneficiary. This type of life insurance is both long-term and affordable.  Although guaranteed universal life insurance is not term life insurance a simple way to think about is that it is like lifetime term insurance.

Sample Life Insurance Rates for 75-Year-Old Woman

As you look at different types of life insurance, you should look at sample cost rates as well. This will give you an idea of your options and help you to make the best possible decision about your life insurance. The prices can vary by company and what their policy offers. You will need to get an exact quote once you narrow your search, but this will give you an idea of what to expect and help you make that decision. 

75 Year Old Woman Term life Sample Rates

A healthy, non-smoking 75-year-old woman can expect to pay the following amounts for a 10-year term life insurance policy. 

  • $100,000 policy: $107 monthly 
  • $200,000 policy: $184 monthly 
  • $300,000 policy: $260 monthly
  • $500,000 policy: $417 monthly

GUL Sample Rates (Permanent Term)

A healthy, non-smoking 75-year-old woman can expect to pay the following amounts for a guaranteed universal life insurance policy.

  • $25,000 policy: $87 monthly
  • $50,000 policy: $169 monthly 
  • $100,000 policy: $305 monthly 
  • $250,000 policy: $718 monthly 
  • $500,000 policy: $1,400 monthly


No matter how old or young you are, it is a great idea for most people to have a life insurance policy. This protects you and your family when you pass away. You can get life insurance at any point in your life. As a 75-year-old woman, the main reason you should get life insurance is that it will give you peace of mind. You will know that your medical bills, burial costs, and other final expenses are taken care of. This takes the financial burden off your family during a difficult time. 

You have many different types of life insurance to choose from. Make sure you do your research and get the advice you need before making a final decision. There are benefits and disadvantages to each type of life insurance, which is why it is essential to consider the needs of yourself and the needs of your family.

Before choosing the life insurance policy you want, learn about it and look at sample quotes. Find what works for you and make sure it covers everything that you may be worried about. Getting life insurance is one of the best things you can do for yourself and for your family. 

Start Here 

The good news for you is you’ve arrived at the right destination. We are life insurance experts who specialize in getting life insurance coverage for seniors. We shop around with all of the best life insurance companies for seniors and get you the best rate without there being a cost to you. Contact us today and let us help you find the perfect policy.