A small whole life final expense policy is the usual pick over 70. If you have health problems, guaranteed issue coverage is an option, but it has a waiting period.
Funerals are costly. NFDA put the 2023 median cost of a funeral with viewing and burial at $8,300. With cremation it was $6,280.
Final expense whole life lasts your whole life. It is often sold with no medical exam. Prices are set by your age, sex and health.
Guaranteed issue plans ask no health questions. Most have a waiting period. Choice Mutual says the Mutual of Omaha plan it lists has a two year wait, and if you die in that time, your family gets back premiums plus interest.
Tips that help
- Pick an amount that covers a funeral plus a few bills, often $10,000 to $25,000.
- Answer health questions if you can. Simplified plans cost less than guaranteed ones.
- Ask if there is a waiting period before the full payout.
- Compare funeral home price lists. The FTC says funeral homes must give written price lists.
- Write down your wishes so your family knows.
Coverage that fits
Common questions
What does $10,000 cost at 70?
Choice Mutual lists $53 a month for a 70 year old woman and $70 for a man, non tobacco whole life, rates valid as of March 9, 2026.
What is a graded benefit?
It means the full payout does not start right away. A Missouri rule, for example, limits how long benefits can be graded by age.
Can I still get term at 70?
Some insurers sell it. MoneyGeek lists 10 year term at 70, 75 and 80.
