That's because life insurance approval and pricing is based on your expected longevity, how long you are expected to live.
Most life expectancy charts indicate that men and women age 76 may only have a few years to live, on average. So, insuring someone's life at age 76 for life insurance may not be a good decision by an insurance company.
However, there are some life insurance carriers that may provide a limited amount of life insurance coverage at a high premium, for people age 76 or older. But, the life insurance coverage may have a graded benefit, meaning you have to be insured for at least 2 years before the full death benefit coverage is available from the life insurance policy.
There are some carriers like Colonial Penn, Globe Life, and AARP/NewYork Life that may offer a limited amount of life insurance coverage to someone age 76 or older.
Usually, these plans do not require any health examination. You can get an instant life insurance quote and apply online for your life insurance policy.
Learn more about life insurance for people over 70.