What Is The Best Life Insurance For Over 60? 
What the best life insurance for over age 60 ? Well , first off the question is how long do you want it inforce ? 10 years , 20 years ? the rest of your life ? For the first two the answer is pretty easy , level term life . You are looking for coverage for a period of time , not a lifetime . You know the odds will be good that you 're still alive after those years and will have to pay a higher cost to continue . For your lifetime , what ever that may be ? Whole life while an excellent product can be price prohibitive at this point in life . You can set up a plan that no longer needs funding after 15-16 years and it will cover you for the rest of your life . Another option that is more expensive than term but cheaper than whole life is guaranteed universal life . GUL is basically life time term . You pay a set premium every month and they guarantee a payout up until the age you settled on like 90,100,110,121 or till you pass no age limit . This is not a savings account . It is not meant to be tapped for cash values . It is meant to work as a 40-50 year plus term policy . 