{"id":31798,"date":"2025-10-27T14:57:30","date_gmt":"2025-10-27T18:57:30","guid":{"rendered":"https:\/\/silver.rbcinsurance.com\/en-ca\/?p=31798"},"modified":"2026-02-03T15:32:23","modified_gmt":"2026-02-03T20:32:23","slug":"best-life-insurance-options-for-seniors","status":"publish","type":"post","link":"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/best-life-insurance-options-for-seniors","title":{"rendered":"The Best Life Insurance Options for Seniors"},"content":{"rendered":"\n<div class=\"wp-block-rbc-template-selector templateSelector template__article articleSingle\" data-template=\"article\">\n<div class=\"wp-block-group articleSingle__container tabListStickyWrapper is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero__inner is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"rbc-yoast-breadcrum-span\"><span><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/\">Home<\/a><\/span><\/span>\n\n\n\n<div class=\"wp-block-group articleSingle__featuredImage__group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__title__group is-layout-flow wp-block-group-is-layout-flow\"><h1 class=\"wp-block-post-title\">The Best Life Insurance Options for Seniors<\/h1>\n\n\n<div class=\"wp-block-group articleSingle__date__group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-post-date\"><time datetime=\"2025-10-27T14:57:30-04:00\">October 27, 2025<\/time><\/div>\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__readTime\">9 Min Read<\/span>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__author__group is-layout-flow wp-block-group-is-layout-flow\">\n<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Avatar.webp?quality=80&w=128&h=128&crop=1\" alt=\"Lisa Jackson\">\n\n\n\n<div class=\"wp-block-group articleSingle__author__details is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"wp-block-rbc-html-element articleSingle__author__name\">Lisa Jackson<\/span>\n\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__author__designation\"><\/span>\n<\/div>\n<\/div>\n<\/div>\n\n\n<figure class=\"articleSingle__featuredImage wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/senior-insurance.webp?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A senior man is smiling and looking off into the distance during his swim lesson, now that he is protected by Life Insurance.\" style=\"object-fit:cover;\" srcset=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/senior-insurance.webp 1074w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/senior-insurance.webp?resize=300,200 300w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/senior-insurance.webp?resize=768,512 768w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/senior-insurance.webp?resize=1024,683 1024w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/senior-insurance.webp?resize=412,275 412w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__container__main is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__page__nav is-layout-flow wp-block-group-is-layout-flow\">\t\t<div class=\"socials-block\">\n\t\t\t\t\t\t<p class=\"socials-block-title\">\n\t\t\tShare this article\t\t<\/p>\n\t\t<div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n\t\t\t\t\t<a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=The Best Life Insurance Options for Seniors &#038;body=Hi, I thought you might be interested in this article from RBC Insurance: https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/best-life-insurance-options-for-seniors\" aria-label=\"Email\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n\t\t\t\talt=\"envelope icon\">\n\t\t\t\t<span>\n\t\t\t\tEmail\t\t\t\t<\/span>\n\t\t\t<\/a>\n\t\t<div class=\"social-button-wrapper sharing-copy-wrapper\">\n\t\t\t<button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/best-life-insurance-options-for-seniors\" aria-label=\"Copy URL\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n\t\t\t\talt=\"copy icon\">\n\t\t\t<span id=\"sharing-copyUrl-Label\">\n\t\t\t\tCopy URL\t\t\t<\/span>\n\t\t\t<\/button>\n\t\t\t<input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n\t\t<\/div>\n\t<\/div>\n  \t\t<\/div>\t\n\t\t\n\n\n<div class=\"wp-block-rbc-tabs-list tabsList\" data-switch=\"lgBp\" data-target-heading=\"h2\"><p class=\"tabsList__heading\">On this page<\/p><div class=\"tabsList__wrapper\"><button class=\"selectDropdown__button\" aria-haspopup=\"listbox\" aria-expanded=\"false\"><span class=\"selectDropdown__title\">Why life insurance matters for seniors<\/span><span class=\"selectDropdown__chevron\"><\/span><\/button><ul class=\"tabsList__items selectDropdown__list\"><li class=\"selectDropdown__list__item tabsList__item selected\"><a href=\"#h-why-life-insurance-matters-for-seniors\">Why life insurance matters for seniors<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-types-of-life-insurance-for-seniors\">Types of life insurance for seniors<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-how-much-does-life-insurance-for-seniors-cost\">How much does life insurance for seniors cost?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-how-to-choose-the-best-life-insurance-policy-for-seniors\">How to choose the best life insurance policy for seniors<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-secure-peace-of-mind-in-your-retirement\">Secure peace of mind in your retirement<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-faqs-about-life-insurance-for-seniors\">FAQs about life insurance for seniors<\/a><\/li><\/ul><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__content__main tabListHeadings is-layout-flow wp-block-group-is-layout-flow\">\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner \" style=\"border-radius:0x\">\n<p>For many Canadian seniors, life insurance may seem unnecessary once financial freedom is in sight. Maybe the house is mostly paid off, the kids are grown, and your pension is steady \u2014 so what\u2019s the point?<\/p>\n\n\n\n<p>Here\u2019s the truth: life insurance isn\u2019t just about replacing income. It\u2019s about peace of mind, protecting the estate you\u2019ve built, and easing the financial load on loved ones. The right policy can cover final expenses, safeguard assets, and even create a meaningful gift for children, grandchildren, or charities.<\/p>\n\n\n\n<p>Moreover, while some seniors already have a policy, they may not review it often. Fewer than <strong><a href=\"https:\/\/www.ipsos.com\/en-ca\/majority-70-canadians-have-life-insurance-however-only-37-review-it-least-once-year\" target=\"_blank\" data-dig-id=\"LP-LifeInsurance-31798-9d0f2018\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"40 per cent of Canadians\" class=\"rbc-link-format externalsite-link\" data-icon-class=\"externalsite-link\" rel=\"noreferrer noopener\">40 per cent of Canadians<\/a><\/strong> revisit their coverage each year, leaving many with outdated policies that no longer fit their current lives.<\/p>\n\n\n\n<p>This guide breaks down the best life insurance options for seniors in Canada \u2014 from simple plans for final expenses to policies that help pass wealth to the next generation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-key-takeaways\">Key takeaways<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Life insurance can help seniors cover end-of-life costs, protect retirement income, preserve estates, and leave a legacy.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Seniors have several options, including term, permanent, and guaranteed acceptance policies, each with pros and cons.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The right policy depends on your needs, health, and goals, so compare carefully and work with a trusted advisor.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Read the policy\u2019s fine print to avoid surprises and ensure it truly fits your long-term goals.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-life-insurance-matters-for-seniors\">Why life insurance matters for seniors<\/h2>\n\n\n\n<p>Life insurance isn\u2019t just a \u201cyoung person\u2019s product.\u201d Whatever your age and stage, the right policy can be a smart financial tool for protecting your family, assets, and peace of mind.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Estate planning<\/h3>\n\n\n\n<p>Settling an estate isn\u2019t free. Taxes, fees, debts, and other costs must be paid before assets are passed on to beneficiaries. Without life insurance, your loved ones may need to dip into the very assets you hoped to preserve \u2014 like the family home, cottage, investments, or savings \u2014 long before anyone is ready.<\/p>\n\n\n\n<p>Life insurance provides cash to cover those costs, keeping your estate intact. <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/will-my-loved-ones-pay-tax-on-life-insurance-proceeds\/#:~:text=You%20may%20be%20worried%20that,this%20isn't%20the%20case.\" data-dig-id=\"LP-LifeInsurance-31798-8040be42\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Since death benefits are tax-free in Canada\" class=\"rbc-link-format\">Since death benefits are tax-free in Canada<\/a>, your beneficiaries receive the full payout.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/retirement\/what-is-estate-planning\/\" data-dig-id=\"LP-LifeInsurance-31798-bfc8c869\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"What Is Estate Planning?\" class=\"rbc-link-format\">What Is Estate Planning?<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Cover end-of-life expenses<\/h3>\n\n\n\n<p>Think the cost of living is high? <a href=\"https:\/\/www.thestar.com\/business\/the-cost-of-dying-in-canada-is-skyrocketing-why-funeral-providers-say-ottawa-needs-to\/article_f1ce28b8-eaba-11ee-84c9-370c6f545e04.html\" data-dig-id=\"LP-LifeInsurance-31798-e1022ed5\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"The cost of dying\" class=\"rbc-link-format externalsite-link\" data-icon-class=\"externalsite-link\">The cost of dying<\/a> isn\u2019t cheap. Funerals in Canada can cost between $5,000 and $10,000+, cremations up to $5,000, and in some city cemeteries, a single burial plot can exceed $25,000. Without insurance, families may have to find the money to cover the costs. A policy ensures loved ones can focus on saying goodbye, not the bills.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Protect retirement income<\/h3>\n\n\n\n<p>Losing a spouse brings more than grief \u2014 it can also mean a sudden drop in income. Pensions and survivor benefits often shrink, leaving the surviving partner to cover expenses or maintain the lifestyle you built together.<\/p>\n\n\n\n<p>The impact can be especially tough before age 65. In 2021, <a href=\"https:\/\/www.statcan.gc.ca\/o1\/en\/plus\/8211-window-widows-international-widows-day\" target=\"_blank\" data-dig-id=\"LP-LifeInsurance-31798-b5baba9a\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"widows under 55\" class=\"rbc-link-format externalsite-link\" data-icon-class=\"externalsite-link\" rel=\"noreferrer noopener\">widows under 55<\/a> saw an average after-tax family income drop by more than $15,000 in a year, and the share living in low-income households nearly tripled, from 7.7 per cent to 21.9 per cent. Life insurance can help buffer that financial blow, giving the surviving partner a tax-free payout to ease their money worries.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Leave a legacy<\/h3>\n\n\n\n<p>What\u2019s the best gift you can leave your family? Financial security. Life insurance provides a tax-free benefit that goes directly to children, grandchildren, or loved ones, which can help fund tuition, contribute to a first home, or simply provide a cash cushion for the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Covering taxes on assets<\/h3>\n\n\n\n<p>Cottages, investment properties, and non-registered investments can trigger hefty capital gains taxes. Insurance creates funds to pay those taxes, helping keep assets in the family.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Opens the door to charitable giving<\/h3>\n\n\n\n<p>Your generosity doesn\u2019t have to stop when you do. By naming a charity as a beneficiary, you can create a tax-free gift that bypasses probate and delivers immediate impact.&nbsp; Depending on the policy\u2019s structure, you may also benefit from tax credits.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-types-of-life-insurance-for-seniors\">Types of life insurance for seniors<\/h2>\n\n\n\n<p>From short-term protection to lifelong plans that double as financial tools, there are a range of options designed to fit different needs. Let\u2019s break them down.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/types-of-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-aa666544\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"The Types of Life Insurance Explained\" class=\"rbc-link-format\">The Types of Life Insurance Explained<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Term life insurance<\/h3>\n\n\n\n<p>Straightforward and affordable, term life covers you for a fixed period (like 10, 20, or 30 years) or until a certain age (such as 65). &nbsp;If you pass away during that term, your beneficiaries receive a lump-sum, tax-free death benefit. Coverage ends when the term expires, unless you renew or convert it to permanent insurance.<\/p>\n\n\n\n<p>It\u2019s a good fit for healthy older Canadians who need temporary protection, like paying off a mortgage or supporting a spouse until retirement. Premiums stay the same for the entire term, but they can increase upon renewal. RBC&#8217;s <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/term-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-0dc2b63d\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Term Life Insurance\" class=\"rbc-link-format\">Term Life Insurance<\/a> offers flexible terms that range from 10 to 40 years, and you can convert it to permanent coverage later \u2014 protection that can grow with you.<\/p>\n\n\n\n<p><strong>Best for:<\/strong> Healthy seniors with temporary needs who want flexibility to convert later.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Permanent life insurance<\/h3>\n\n\n\n<p>Think of this as the \u201clocked-in-for-life\u201d plan. Permanent life insurance never expires, as long as premiums are maintained, and often builds cash value that you can tap into while you\u2019re alive. There are two main types:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Whole life insurance<\/strong> <strong>is steady and reliable<\/strong>. Your premiums stay the same for life, coverage never ends, and the policy often builds a guaranteed minimum cash value over time. Some plans also invest part of your premiums and may pay out dividends. With RBC&#8217;s <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/whole-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-e3129ca8\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Participating Whole Life Insurance\" class=\"rbc-link-format\">Participating Whole Life Insurance<\/a>, you can access your policy\u2019s funds while you\u2019re alive, and coverage is available up to age 80.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Universal life insurance<\/strong> <strong>does double duty<\/strong>: it combines lifetime coverage with an investment component. Part of your premium pays for insurance, while the rest goes into funds you choose. That money grows inside the policy, often with tax advantages. RBC&#8217;s <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/universal-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-c8505447\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Universal Life Insurance\" class=\"rbc-link-format\">Universal Life Insurance<\/a> lets you adjust payments, pick investments, and access the cash value if needed. Coverage is available up to age 85.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Best for:<\/strong> Seniors who want lifelong coverage plus the potential to grow wealth and preserve their estate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Guaranteed acceptance life insurance<\/h3>\n\n\n\n<p>Not in perfect health? No problem. Guaranteed acceptance life insurance makes it easy to get coverage with no medical exam or health questions. With RBC&#8217;s <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/guaranteed-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-903336fd\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Guaranteed Acceptance Life Insurance\" class=\"rbc-link-format\">Guaranteed Acceptance Life Insurance<\/a>, Canadians aged 40 to 75 are automatically approved for up to $40,000 in coverage.&nbsp; Premiums never go up, and coverage lasts a lifetime.<\/p>\n\n\n\n<p><strong>Best for:<\/strong> Seniors in poor health who want hassle-free, lifetime protection for final expenses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Funeral insurance<\/h3>\n\n\n\n<p>Funeral insurance (also called burial or final expense insurance) provides a smaller payout specifically for end-of-life costs. A medical exam isn\u2019t typically required, coverage lasts a lifetime, and claims are often paid quickly.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/are-your-parents-final-expenses-covered\/\" data-dig-id=\"LP-LifeInsurance-31798-ac6963ce\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Are Your Parents\u2019 Final Expenses Covered?\" class=\"rbc-link-format\">Are Your Parents\u2019 Final Expenses Covered?<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-does-life-insurance-for-seniors-cost\">How much does life insurance for seniors cost?<\/h2>\n\n\n\n<p>It depends! Premiums tend to rise with age, but the exact cost depends on factors like age, lifestyle, coverage amount, policy type, and overall health. Pre-existing conditions (like high blood pressure, diabetes, or cancer history) can increase the cost, and smoking is a surefire way to push rates even higher.&nbsp; There\u2019s no \u201cone-size-fits-all\u201d policy.<\/p>\n\n\n\n<p>Get a <a href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html\" data-dig-id=\"LP-LifeInsurance-31798-bb374271\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"term&nbsp;life insurance quote\" class=\"rbc-link-format\">term&nbsp;life insurance quote<\/a>&nbsp;online to see what a policy might cost you.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/applying-for-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-176782ed\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"Applying For Life Insurance: Why You Should Be An Open Book\" class=\"rbc-link-format\">Applying For Life Insurance: Why You Should Be An Open Book<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-choose-the-best-life-insurance-policy-for-seniors\">How to choose the best life insurance policy for seniors<\/h2>\n\n\n\n<p>Life insurance is a major financial decision, and with so many options out there, it can feel overwhelming. Here\u2019s how to focus on what matters and find the right fit:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Assess your needs<\/h3>\n\n\n\n<p>Calculate what you\u2019d like the policy to cover. Funeral costs? Outstanding debts? Charitable gifts? This gives you a realistic idea of how much coverage you need. Our <a href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-calculator\/index.html\" data-dig-id=\"LP-LifeInsurance-31798-8a1cf175\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"life insurance calculator\" class=\"rbc-link-format\">life insurance calculator<\/a> can help you estimate in minutes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-evaluate-your-health\">2. Evaluate your health<\/h3>\n\n\n\n<p>If you\u2019re in good health, you may qualify for term or permanent life insurance. If not, consider guaranteed acceptance policies that don\u2019t require a medical exam.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Work with a professional<\/h3>\n\n\n\n<p>The right advisor can make all the difference. Look for someone who understands your needs, priorities, and budget, and can explain options clearly. RBC\u2019s licensed insurance advisors <a href=\"https:\/\/silver.rbcinsurance.com\/request-a-call\/personal-insurance\/contact-us\/index.html\" data-dig-id=\"LP-LifeInsurance-31798-cce55152\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"can help you find the right policy\" class=\"rbc-link-format\">can help you find the right policy<\/a> and guide you every step of the way.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Compare policies<\/h3>\n\n\n\n<p>Compare quotes carefully, looking at the type of coverage, long-term costs, and included features. Don\u2019t just chase the lowest price \u2014 cheaper isn\u2019t always better if it leaves gaps in coverage! Make sure the policy will serve you <em>years from now<\/em>, not just today. RBC\u2019s <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/compare-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-dc2a6fe2\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"life insurance comparison tool\" class=\"rbc-link-format\">life insurance comparison tool<\/a> makes it easy to review plans side by side.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Understand the policy<\/h3>\n\n\n\n<p>Once you\u2019ve chosen, dig into the details of that specific policy. Read the fine print, check for exclusions or waiting periods, and confirm which benefits and rates are guaranteed. Ask how the policy might change over time so there are no surprises later.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-secure-peace-of-mind-in-your-retirement\">Secure peace of mind in your retirement<\/h2>\n\n\n\n<p>Life insurance isn\u2019t just about numbers \u2014 it\u2019s about knowing your loved ones will be taken care of when you\u2019re gone. The right policy can cover end-of-life, provide financial support for dependents, or even help you leave a legacy. For seniors, premiums may be higher, but coverage is available. By assessing your needs, considering your health, comparing policies, and working with a trusted advisor, you can find an option that fits your budget and goals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-about-life-insurance-for-seniors\">FAQs about life insurance for seniors<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Do seniors need life insurance?<\/h3>\n\n\n\n<p>Not every senior does, but many find it valuable. Life insurance can cover final expenses, pay off debts, or leave a financial legacy. If you have dependents or want to ease the financial burden on loved ones, a policy can help with that.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Can seniors get life insurance without a medical exam?<\/h3>\n\n\n\n<p>Yes. Many insurers, including RBC Insurance, offer guaranteed acceptance policies that don\u2019t require a medical exam or health questionnaire. These are designed to make coverage more accessible for older applicants or those with health concerns. RBC Insurance offers <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/guaranteed-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-9bb45865\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"guaranteed acceptance coverage\" class=\"rbc-link-format\">guaranteed acceptance coverage<\/a> with automatic approval for ages 40 to 75.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Can you get life insurance after 70?<\/h3>\n\n\n\n<p>Absolutely! <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/\" data-dig-id=\"LP-LifeInsurance-31798-442c4991\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"RBC Insurance\" class=\"rbc-link-format\">RBC Insurance<\/a>, for example, offers life insurance options for Canadians up to age 85. Premiums may be higher, but coverage is available.<\/p>\n\n\n\n<div class=\"wp-block-rbc-section-inner-block  section-inner block-wpr bg-light-blue rounded-corners pos-rel pad-l pad-r mob-pad-r centered-block mob-pad-l pad-t mob-pad-t pad-b mob-pad-b\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading has-text-align-center mar-t mar-b-hlf mob-mar-b-hlf mob-mar-t\" id=\"h-rbc-life-insurance\">RBC Life Insurance<\/h2>\n\n\n\n<p class=\"has-text-align-center mar-b-hlf mob-mar-b-hlf pad-r mob-pad-r pad-l mob-pad-l has-text-reg-font-size\">Protect Your Loved Ones With Dependable Life Insurance.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\"><div>\n<div class=\"wp-block-button aligncenter btn is-style-primary primary\"><a class=\"wp-block-button__link has-text-lg-font-size has-custom-font-size wp-element-button\" href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html\" rel=\"noreferrer noopener\" data-dig-id=\"LP-283-476a44f4\" data-dig-category=\"LP\" data-dig-action=\"button click\" data-dig-label=\"Get a quote-https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html \">Get a quote<\/a><\/div>\n<\/div><\/div>\n\n\n\n<p class=\"has-text-align-center mar-t-hlf mob-mar-t-hlf pad-b mob-pad-b has-text-reg-font-size\"><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/\" data-dig-id=\"LP-273-18de2c2e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn More\" class=\"rbc-link-format\">Learn More<\/a><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse2de7ba0a\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse2de7ba0a\" data-dig-id=\"LP-10384-2de7ba0a\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things Our Lawyers Want You to Know\"><div>Things Our Lawyers Want You to Know<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse2de7ba0a\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p class=\"has-text-sm-font-size\">*Home and auto insurance products are distributed by RBC Insurance Agency Ltd. and underwritten by Aviva General Insurance Company. In Quebec, RBC Insurance Agency Ltd. Is registered as a damage insurance agency. As a result of government-run auto insurance plans, auto insurance is not available through RBC Insurance in Manitoba, Saskatchewan and British Columbia.<\/p>\n\n\n\n<p class=\"has-text-sm-font-size\">This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Protecting your family once you\u2019re gone is an important consideration as you age. Here\u2019s the best options for life insurance for seniors in Canada.<\/p>\n","protected":false},"author":208,"featured_media":31797,"comment_status":"open","ping_status":"open","sticky":false,"template":"templates\/new-rbci-design.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[54],"tags":[4],"article-type":[80],"ppma_author":[169],"class_list":["post-31798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","tag-life-insurance","article-type-advice-learning"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Best Life Insurance Options for Seniors | RBC Insurance<\/title>\n<meta name=\"description\" content=\"Protecting your family once you\u2019re gone is an important consideration as you age. Here\u2019s the best options for life insurance for seniors in Canada.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/best-life-insurance-options-for-seniors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Best Life Insurance Options for Seniors | RBC Insurance\" \/>\n<meta property=\"og:description\" content=\"Protecting your family once you\u2019re gone is an important consideration as you age. 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