Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: May 19, 2021

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The Brief

  • There are several life insurance policies designed specifically for seniors
  • You can purchase life insurance for your grandparent
  • The most affordable life insurance option for seniors is term life insurance

If you are looking to purchase life insurance for grandparents, there are many policy options available.

There are many life insurance policies designed specifically for seniors, including guaranteed and term life insurance. Keep reading to learn which policy is right for your grandparent.

Do you want to start comparing life insurance for grandparents right away? Enter your ZIP code above, and we will help you find affordable rates in your area.

Can I get life insurance on my grandmother?

If you have her permission, yes, you can. You can purchase life insurance for anyone in your family if you have their permission.

To buy life insurance for grandparents, you will need to organize for them to take any medical exams required and fill out all the personal information on the application.

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What are the best life insurance options for grandparents?

The best life insurance for seniors depends on what type of coverage they need. If they are looking for affordable coverage, term life insurance is the best option.

Most term life insurance policies will approve individuals up until the age of 70, and term life insurance is the most affordable policy type available for adults.

If they are looking for coverage just for final expenses, like funerals or small medical debt, burial and final expense insurance is a great option. These types of insurance offer lower coverage amounts.

For those looking for some whole insurance and those in poor health, guaranteed life insurance is a good option. However, this type of policy is the most expensive of the three types.

Who offers the most affordable life insurance for grandparents?

This will depend on what type of life insurance you are looking for. Let’s take two of the most popular life insurance companies, Gerber Life and Mutual of Omaha.

Both companies offer term life insurance and guaranteed life insurance.

We’ll take a look at their term life insurance policies first. For this comparison, we got life insurance quotes for grandparents with $200,000 of coverage.

Gerber Life vs. Mutual of Omaha Average Monthly Life Insurance Rates for $200,000 Coverage
CompanyAverage Monthly Rates
Mutual of Omaha$110.47
Gerber Life$155.00
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As you can see, Mutual of Omaha offers more affordable term life insurance rates for grandparents.

Now let’s take a look at the quotes for guaranteed life insurance policies for both companies.

Gerber Life vs. Mutual of Omaha Average Monthly Guaranteed Life Insurance Rates by Policy
CoverageGerber Life Average Monthly RatesMutual of Omaha Average Monthly Rates
$5,000$21.50$25.99
$10,000$51.06$42.00
$15,000$76.13$62.50
$20,000$101.20$83.00
$25,000$126.27$103.50
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Again, Mutual of Omaha offers better rates than Gerber Life. The best life insurance company for grandparents in terms of price based on these two graphs would be Mutual of Omaha.

However, according to the Insurance Information Institute, it’s important to compare a grandparent quote from multiple companies whenever you start your search for life insurance.

Because life insurance is based so much on individual circumstances, getting personalized quotes is important.

Make sure to get a quote from multiple companies because the charts above may not be indicative of what you will pay.

Are you ready to start looking for life insurance for grandparents today? Enter your ZIP code below, and we will pull up several companies for you to compare in minutes.