Can Anyone at Any Age Get Life Insurance?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Age Ranges for Life Insurance

Life insurance is accessible to individuals within certain age ranges, but availability varies by the type of insurance and the insurance company. Here’s a breakdown of how age affects eligibility for different types of life insurance:

  • Term Life Insurance: This type is available to individuals who are at least 18 years old. The maximum age for initiating a policy may vary by insurer but often caps at 65-75 years.
  • Whole Life Insurance: Offers coverage from birth up to 85 years of age, with some companies extending offers to those up to 90 years old. This type provides lifelong coverage alongside a cash value component.
  • Universal Life (UL) and Indexed Universal Life (IUL) Insurance: Similar to whole life, these policies are available for ages 0-85. They offer flexible premium payments and the potential for cash value growth, with IULs tied to a stock index performance.

At What Age Can You No Longer Buy Life Insurance?

In the realm of life insurance, the upper age limit for purchasing a new policy is typically 85 years old. This means individuals over the age of 85 generally cannot acquire new life insurance policies.

Examples of Age Restrictions

  • A 20-year-old can apply for term, whole, UL, or IUL life insurance.
  • A newborn can be insured under permanent life insurance policies such as whole, UL, or IUL life insurance policies.
  • An 85-year-old may have limited options, possibly only certain whole life insurance policies.

Age Eligibility for Life Insurance Types

Age GroupTerm LifeWhole LifeUniversal Life (UL)Indexed Universal Life (IUL)
0-17Not EligibleEligibleEligibleEligible
86+Not EligibleLimited OptionsLimited OptionsLimited Options

Factors To Consider Regardless Of Age

Regardless of your age, there are several key factors to consider when choosing a life insurance policy:

Financial Strength of the Insurance Company

When selecting a life insurance policy, it’s crucial to research and evaluate the company’s financial strength and stability. Look for companies with high ratings from reputable rating agencies, indicating their ability to fulfill their financial obligations and pay claims.

Policy Riders and Options

Life insurance policies often come with various riders and options to enhance coverage. Examples include accelerated death benefit riders, which allow you to access a portion of the death benefit if you’re diagnosed with a terminal illness, and waiver of premium riders, which waive the premium payments if you become disabled. Understanding these riders and options is essential to ensure they align with your needs and goals.

Premiums and Affordability

Life insurance premiums can vary widely depending on the type of policy, coverage amount, and your age and health. Therefore, budgeting for the premiums and ensuring they are affordable in the long term is essential. Also, remember that premiums may increase over time for specific policies, so factor in potential future increases when evaluating affordability.

Comparison Shopping

Like any financial decision, shopping around and comparing different life insurance policies and quotes from multiple insurance companies is crucial. Don’t settle for the first policy you come across; take the time to thoroughly compare and evaluate your options to ensure you’re getting the best coverage at the most competitive price.


Life insurance is accessible to nearly everyone, from newborns to seniors, with specific age ranges and restrictions based on the type of policy. Term life insurance requires individuals to be at least 18, while whole life, UL, and IUL insurance are available from birth to 85 years of age, with some companies extending coverage up to 90 years. Understanding these age ranges helps select the right insurance policy for your needs, ensuring you or your loved ones are covered.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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