With energy prices rising, switch to a cheaper plan
Compare Prices Now

Life insurance for over 70’s

You can still get life insurance even if you're over 70. See what options are available to you.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

No matter what age you are, life insurance is an important consideration. However, many insurers have limits on the age they will accept new clients, usually ranging from 59-75.

In this guide, we look at what your insurance options are when you are over 70. You may be more limited in what you can apply for, but there are always options and we want to help find the right ones for you.

Life insurance comparison Australia for over 70's

Our table shows which life insurance brands offer new policies to people aged 70 and over. Compare policy features and select "Get Quote" for more tailored information.
Name Product Maximum Cover Maximum Entry Age Policy Type Average Claims Acceptance Rate Average Claim Time Sum Insured Apply
TAL Life Insurance
Underwritten by an advisor
2.9 months
$36,630 million
Finder verifies that TAL has more Australian lives insured than any other provider - for 3 years in a row. Plus, get up to 15% off with TAL’s Health Sense program.
Medibank Life Insurance
Apply directly online
3.8 months
$31,745 million
With Medibank Life Insurance, you’ll also get access to the 24/7 Medibank Nurse phone service. Medibank health members will save 10% on premiums every year. T&Cs apply.
OnePath Life Insurance
No limit
Underwritten via a broker
Data not available
Data not available
MLC Life Insurance
No limit
Underwritten via a broker
Data not available
Data not available
Data not available
AIA Life Insurance
No limit
Underwritten via a broker
Data not available
Data not available
Data not available

Compare up to 4 providers

What insurers provide life insurance for seniors over 70?

The table below provides details of the entry age requirements for providers featured on finder.com.au It is worth noting that the maximum entry age may not apply for all benefits on the life cover plan:

BrandsLife cover maximum entry agePolicy expiry age
Be aware that the ages listed above may only apply to death cover. The maximum entry age will often be lower for policies that are funded through superannuation or that have a level premium structure.


What do underwriters take into consideration?

Just because you are within the age requirements of the policy does not necessarily guarantee that your application will be accepted. Each insurer will take their own steps to determine whether they are able to provide you with cover based on a number of different factors. These include:

  • Any pre-existing medical conditions. It's common for people over 50 to suffer from medical conditions that may present them as a greater risk to insurers. Any applicant with pre-existing conditions not automatically covered under the policy will be required to undergo medical underwriting. This may include completing a medical questionnaire and submitting details of their medical history.
  • Whether they smoke. An insurer will not reject a claim based on whether or not the applicant smokes, though it will increase the cost of the policy significantly.
  • Amount of cover required. Insurers will usually only provide reduced levels of cover for applicants over certain ages.
  • Risky pastimes or hobbies. The involvement in particularly dangerous activities may lead to the application being rejected by the insurer.

These are just some of the factors that an insurer may take into consideration when assessing whether they will provide cover to someone over 70 years of age. As mentioned previously, each insurer has different criteria for assessing applicants and just because one insurer rejects the application does not mean that they all will.

What are the benefits of taking out life insurance after 70?

It's an opportunity to ensure you have covered for the costs of the future. While someone in their 70s may not have the same cover requirements as someone in their early 30s, it is not uncommon for people in this age bracket to still have financial obligations that would need to be taken care of in the event of their death. Such financial obligations may include:

  • Legal fees
  • Cost of living for surviving partner or any other financial dependents
  • Provide legacy for children, grandchildren or charity
Fully underwritten with Trauma and TPD options. NobleOak offer up to $15 million maximum cover level.

How much does life insurance for people over 70 cost?

There is no definitive answer for how much life insurance will cost for someone over 70 as each insurer will take into consideration different factors to help them determine an appropriate price. Generally however, the cost will be much higher than when you were younger. This is because the insurer will consider older applicants to have an increase risk of death from associated medical conditions.

Example: Cost for a 73 year old male retiree (non-smoking)

Using finder's life insurance engine we found the following monthly quotes:

PolicyMonthly costs
OnePath OneCare$1462.71
AIA Priority Protection$1518.35
TAL Accelerated Protection$1590.05

The quotes above were generated through finder's quote engine on 29 July 2020. Prices are subject to change.

Tips to find life insurance for people over 70

If you are over aged 70 years or over and looking to find reasonably priced policy with adequate cover, it is critical that you take the time to compare a range of different policies from different insurers. An insurance consultant can use their knowledge of the insurance industry to find insurers that are willing to provide cover. Increased competition among life insurance providers has meant that many providers are willing to make adjustments to policies in order to provide cover. Such adjustments include:

  • Increase premium pricing
  • Exclude certain events from cover

In any event, working with an insurer can greatly increase the chances of finding cover. This service is provided and there is absolutely no obligation to apply for cover.

Compare quotes for life insurance with an adviser

More guides on Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

4 Responses

  1. Default Gravatar
    NeilDecember 2, 2021

    I am a 72yo male that is a non smoker, social drinker, in perfect health. I am looking for life insurance that covers accidental death.

    • Avatarfinder Customer Care
      JamesDecember 7, 2021Staff

      Hi Neil,

      There are a couple of life insurance options you might consider including term life insurance and funeral cover. Both can pay out a lump sum if you pass away while your policy’s active. You can read more about these types of covers on our Term Life Insurance page.

      At the time of writing, Real Insurance and Australian Seniors both offer policies with a maximum entry age above 72. Here’s more on funeral insurance.

      Be sure to read a policy’s Product Disclosure Statement (PDS) with care before you settle on a policy that’s matched to your needs.


  2. Default Gravatar
    HelenSeptember 23, 2021

    I tried to contact Medibank Life Insurance however they just hang up on me. I want some life insurance for over70s.

    • Avatarfinder Customer Care
      JamesSeptember 30, 2021Staff

      Hi Helen,

      I’m sorry to hear about your experience. It’s possible to apply online for a policy with Medibank. Start by clicking the green ‘Get Quote’ button near the top of the page.

      Before applying, always read a policy’s Product Disclosure Statement (PDS) so that you’re aware of what you’re covered for, along with and exclusions or restrictions.


Go to site