Yes, the elderly may qualify to purchase term insurance policies.
Usually, term life may be available for people ages 75 and under.
The duration of term life offered will vary based on your current age; however, insurers may offer 75 years olds a 5 or 10-year term life plan.
Also, people ages 70 and under may qualify for 5, 10 or 15-year term life plans depending on your age, health and the insurance company guidelines for approval.
Learn more about term insurance for elderly people.