Life Insurance for Elderly Parents: How to Help Them Get Covered
If you are trying to help your mom or dad get life insurance, this guide is for you. Maybe they do not have coverage and you want to make sure their funeral and final bills are taken care of. Maybe they have been putting it off and you want to help them take the first step. Either way, you are in the right place. We will cover what you can actually get for a parent, what it costs, how their health affects their options, and how to start the whole thing in about 60 seconds with them, on one call. Asurgo is an independent brokerage that compares 25+ carriers across all 50 states.
Jump to can you buy it for them, what it costs, or the FAQ.
The First Question
Can You Buy Life Insurance for a Parent?
The short answer is yes, but there is one important detail you need to know upfront.
You can research options, start the quote process, and even pay the premiums on an ongoing basis. But your parent needs to be involved in the application itself. They answer the health questions. They sign the application. This is a legal requirement that combines two principles: "insurable interest" (you have a legitimate reason to insure them, which children automatically have) and the need for the insured person's consent.
You cannot take out a policy on a parent without their knowledge or involvement. If someone tells you otherwise, that is a red flag.
The Three Roles in a Policy
There are three roles in any life insurance policy, and understanding them makes the process much simpler:
- The Owner - this is you or the parent, whoever pays and manages the policy. The owner controls the policy and can make changes to it.
- The Insured - this is the parent, the person whose life is covered by the policy.
- The Beneficiary - this is the person who receives the payout when the insured passes away. You, a sibling, a trust, or whoever the owner designates.
You can be the owner and beneficiary while your parent is the insured. This is completely normal and one of the most common setups for adult children helping a parent.
How It Works in Practice
The practical version looks like this: you call us or start a quote online. You provide the basic information - your parent's age, state, general health, and tobacco use. Then, either hand the phone to your parent for the health questions or set up a three-way call so everyone is on the line together. The whole thing typically takes 10 to 15 minutes.
This is actually one of the most common ways coverage starts. A significant portion of Asurgo's clients are adult children calling on behalf of a parent. You are not doing anything unusual here. You are doing something thoughtful.
The Right Fit
What Kind of Coverage Fits an Aging Parent?
For most aging parents, the answer is final expense insurance (also called burial insurance). These are small whole life policies specifically designed to cover funeral costs, outstanding medical bills, credit card balances, and other end-of-life expenses that otherwise fall on the family.
Here is what makes final expense insurance a good fit for a parent:
- Coverage amounts typically $5,000 to $25,000 - enough for a funeral and some remaining bills
- Permanent coverage that never expires as long as premiums are paid
- Premiums are locked and never increase - the rate your parent gets today is the rate they keep for life
- No medical exam on any plan - no blood tests, no doctor visits, no physicals
- Simplified issue (health questions, no exam) or guaranteed acceptance (no health questions at all)
This is not the same as the large term or whole life policies that working-age adults buy for income replacement. It is smaller, simpler, and designed specifically for the final expenses that would otherwise fall on children, siblings, or other family members.
Most parents in their 60s, 70s, and even 80s can qualify. The carrier pool narrows with age, but options remain available at most ages through 85. The key is working with a broker who knows which carriers accept which ages and health profiles.
Cost Guide
What Does Life Insurance for an Elderly Parent Cost?
The cost depends on your parent's age, gender, health, tobacco use, and how much coverage they need. The rates below are real - verified from current carrier illustrations so you know what to expect before you call.
| Age | Female | Male |
|---|---|---|
| 60 | $33/mo | $44/mo |
| 70 | $53/mo | $75/mo |
| 80 | $98/mo | $140/mo |
These rates are for a healthy, non-smoking parent who qualifies for simplified-issue coverage, which is the most common type. Your parent's actual rate may be lower or higher depending on their specific health profile. If they use tobacco or have certain health conditions, a different carrier may offer a better rate than Mutual of Omaha for their situation. That is the whole point of working with an independent broker who shops across 25+ carriers.
Some adult children pay the premium themselves as a way of taking care of things quietly. Others split the cost with siblings. Either way, the premium is fixed once the policy is issued, so there are no surprises down the road. The rate your parent locks in today is the rate they keep for the life of the policy.
Start a quote for your parent
Takes about 60 seconds. We compare 25+ carriers to find the best rate for their age and health. No obligation.
Health Conditions
What If Your Parent Has Health Problems?
This is usually the biggest worry for adult children helping a parent get coverage. You might assume that because your mom or dad has diabetes, or a heart condition, or COPD, they cannot get life insurance. The good news: health conditions rarely mean "no." They usually mean "a different carrier."
As an independent broker, Asurgo represents 25+ carriers. Each carrier has its own underwriting guidelines. A condition that one carrier declines, another carrier covers at standard rates. This is the single biggest reason working with an independent broker matters more than going directly to a single insurance company.
Here is the reality for some of the most common conditions:
- Diabetes (Type 1 or Type 2): most parents qualify for day-one coverage at the right carrier. Both types default to level benefit at the carriers that fit.
- Heart disease, high blood pressure, COPD: coverage is available. Carrier selection is what determines the outcome.
- Cancer history: depends on timing and type, but many carriers cover cancer survivors after a waiting period has passed since treatment ended.
- Pre-existing conditions generally: the broker's job is to match your parent's specific health profile to the carrier most likely to approve them at the best rate.
The range of health outcomes is wide, and no two parents have the same combination of conditions, medications, and history. That is why a one-size-fits-all answer does not work here. What works is a broker who knows the underwriting guidelines across all 25+ carriers and can place your parent with the right one.
If a parent truly cannot pass any health questions at any carrier, guaranteed-acceptance plans exist. No health questions, guaranteed approval. The trade-off is a 2-year graded waiting period before the full death benefit applies. But even then, coverage exists and premiums paid during the waiting period are returned (plus interest) if the insured passes during that window.
Next Steps
How to Start Coverage for Your Parent
The process is straightforward. Here is what to expect, step by step.
Gather the basics
You will need your parent's age, state of residence, general health status, and whether they use tobacco. You do not need their Social Security number or medical records to get a quote.
Start the quote together
Call us at (855) 380-9555 or start online at asurgo.com/quote. You can provide the initial details yourself. We compare 25+ carriers and come back with the best options for your parent's situation.
Your parent confirms
Your parent answers a few health questions (yes/no, over the phone) and provides their consent. This is the part that requires their involvement. Most calls take 10 to 15 minutes.
Coverage starts fast
For most applicants, coverage can be active within 24 hours. The premium is locked, the coverage is permanent, and the death benefit is paid directly to the beneficiary you designate.
Ready to get your parent covered?
Call (855) 380-9555 or start online. We walk you through it.
Common Questions
Frequently Asked Questions
Can I get life insurance on my elderly parents?
Yes. You can purchase a life insurance policy on a parent as long as you have insurable interest (which children automatically have) and the parent consents to the application. The parent needs to answer health questions and sign the application. You can be the policy owner, pay the premiums, and name yourself or another family member as the beneficiary. This is one of the most common ways final expense coverage begins.
Do my parents have to know or consent?
Yes. A life insurance application requires the knowledge and consent of the person being insured. Your parent will need to answer health questions and provide their signature. You cannot take out a policy on a parent without their involvement. The conversation can be as simple as explaining that you want to make sure their final expenses are covered so no one in the family has to scramble.
What is the best life insurance for a parent over 70?
For most parents over 70, final expense insurance (also called burial insurance) is the best fit. These are small whole life policies, typically $5,000 to $25,000, that cover funeral costs and final bills. No medical exam is required. Premiums are locked and never increase. An independent broker can compare 25+ carriers to find the lowest rate for your parent's specific age and health profile.
How much does life insurance for an elderly parent cost?
It depends on the parent's age, gender, health, and coverage amount. For a healthy non-smoking parent, $10,000 of final expense coverage typically costs approximately $33 to $53 per month for women aged 60 to 70, and $44 to $75 per month for men in the same range. Rates increase with age. These are verified 2026 rates from Mutual of Omaha through Asurgo.
Can a parent with health problems still get covered?
In most cases, yes. Health conditions like diabetes, heart disease, high blood pressure, and COPD do not automatically disqualify a parent from coverage. Different carriers have different underwriting guidelines. A condition that one carrier declines, another may accept at standard rates. If a parent cannot qualify for simplified-issue coverage at any carrier, guaranteed-acceptance plans are available with no health questions.
Can I get burial insurance for a parent with no medical exam?
Yes. All final expense and burial insurance plans available through Asurgo require no medical exam. Simplified-issue plans ask health questions over the phone but no exam, no blood work, and no doctor visit. Guaranteed-acceptance plans do not even ask health questions. Coverage can be active within 24 hours for most applicants.
Related Guides
Help Your Parent Get Covered Today
Taking this step for your parent is one of the most practical things you can do for your family. It means no one has to figure out how to pay for a funeral during the hardest week of their lives. Asurgo is an independent brokerage licensed in all 50 states. We compare 25+ A-rated carriers, find the best rate for your parent's age and health, and walk you both through the process. Most applicants have coverage in force within 24 hours. Start a quote for your parent in about 60 seconds. No obligation, no pressure.
Start a Quote for Your Parent Or call (855) 380-9555
Nicholas Norminton, Licensed Insurance Specialist
Specialties: final expense, family coverage planning, carrier comparison, simplified-issue underwriting.
Nicholas is a nationally licensed insurance specialist who has helped thousands of families secure final expense coverage. A significant portion of Asurgo's clients are adult children helping a parent get covered for the first time.