However, if you are a senior in good health, or with a very well controlled health condition, there are life insurance companies that may offer affordable rates.
For example, if you have type 2 diabetes at age 68 you may still get Preferred Rates on your life insurance policy with a few companies, whereas that would not be likely if you have type 2 diabetes at age 25.
If you are a senior in good health and you want more coverage than just for your funeral, it may save you some money to apply for life insurance with an insurer that does require a medical examination. However, you should be prepared to have an EKG, answer some questions to test your memory (e.g. who is the president of the US), and have all your medical records reviewed by the insurer. Using a life insurance agency or broker that specializes in senior life insurance can help you to find the best rate.
For small, no exam final expense life insurance policies, the rates for seniors will depend a lot on your age and whether you are male or female. You can expect to pay up to $50 to $200 per month for a burial insurance policy, on average. However, the amount of coverage and your health will also impact your premium.
Here's how you can compare seniors life insurance rates online.