Key takeaways
- VGLI premiums jump with age: VA lists $8.50 a month per $10,000 at ages 60–64 and $21.50 at ages 70–74 (rates as of July 1, 2025).
- VALife premiums are locked at your age when you apply and never increase.
- Private term life can cost less than VGLI for healthy veterans over 60, but you must qualify medically.
- Final expense whole life is built for smaller needs like funeral costs and is often sold to applicants into their 80s.
- VA burial benefits help, but they cover only part of a typical funeral.
Veterans over 60 have four main life insurance options: keeping VGLI, applying for VALife if you have a service-connected disability rating, buying a private term or whole life policy, or choosing a smaller final expense policy. For a healthy veteran, private coverage can cost less per dollar of coverage. For veterans with health issues, VALife and final expense plans are usually easier to qualify for.
The right choice comes down to three questions: how much coverage your family needs, how long they need it, and what your health allows. Here is how the options compare.
What life insurance options do veterans over 60 have?
Each option fits a different situation. This table sums up the main differences using VA's published rules.
Option | Coverage | Price trend | Health review |
|---|---|---|---|
VGLI | $10,000 to $500,000 term, based on your SGLI | Rises every 5 years with age | None if you enrolled within 240 days of leaving service |
VALife | Up to $40,000 whole life | Locked at your age when you apply | None (for a service-connected rating) |
Private term | Varies, often for 10 to 20 years | Level for the term, then rises | Usually yes |
Final expense whole life | Smaller amounts, often under $50,000 | Level for life | Simplified questions or none |
How much does VGLI cost after 60?
VGLI gets much more expensive as you age. According to VA's VGLI page, monthly premiums as of July 1, 2025 are:
Age | Per $10,000 | For $100,000 |
|---|---|---|
60–64 | $8.50 | $85.00 |
65–69 | $13.80 | $138.00 |
70–74 | $21.50 | $215.00 |
75–79 | $38.50 | $385.00 |
80 and older | $44.00 | $440.00 |
VGLI's price depends only on your age, not your health or tobacco use. That makes it valuable if your health has changed. But VA also notes you can only increase coverage until age 60, and the price keeps climbing in 5-year steps.
VA announced a VGLI premium holiday for eligible policyholders from November 1, 2026 through January 31, 2027. Check VA's premium holiday details to see if it applies to you.
For a deeper look at cost, see our VGLI vs. term life insurance comparison.
Is VALife a good choice after 60?
VALife can be a strong choice if you have any service-connected disability rating. According to VA, veterans 80 or younger with any rating, even 0%, can apply. There are no health questions, and the premium never goes up.
VA's monthly rates for $10,000 of coverage include $50.00 at age 60, $62.00 at 65, $78.00 at 70, $99.50 at 75, and $127.50 at 80. You can buy up to $40,000.
The trade-off is the waiting period. Full coverage starts 2 years after you apply. If you die sooner, your beneficiaries get back the premiums paid plus interest. Learn more in our VALife guide or our article on life insurance with a VA disability rating.
Can a veteran over 60 still buy term life insurance?
Yes. Many insurers sell term life to people in their 60s and early 70s, often for 10, 15, or 20 years. If you are in good health, a private term policy may cost less than VGLI for the same amount.
Term life fits if you still have a mortgage, a spouse who relies on your income or pension, or debts that will be paid off within a set time. The downside is that coverage ends when the term does. The NAIC notes that renewing term coverage later usually means higher premiums.
When does final expense insurance make sense?
Final expense insurance is a small whole life policy meant to cover funeral costs and final bills. It is a good fit when your main goal is to keep your family from paying for your funeral out of pocket.
These policies usually have simple health questions and no exam. Premiums stay level, and the coverage lasts for life as long as you pay. Guaranteed issue versions accept most applicants but often pay a limited benefit for the first 2 or 3 years. Read more about guaranteed issue life insurance and final expense insurance for seniors over 70.
Won't VA burial benefits cover my funeral?
VA burial benefits help, but they won't cover the full cost of most funerals. VA's burial allowance page lists, for a non-service-connected death on or after October 1, 2025, up to $1,002 toward burial and up to $1,002 toward a plot. For a service-connected death on or after September 11, 2001, VA lists up to $2,000.
Eligible veterans may also receive a national cemetery gravesite, headstone, and burial flag at no cost. Funeral home charges are usually left to the family. See our full guide to VA burial benefits.
How do you choose the right coverage after 60?
A simple step-by-step approach helps:
- List what you want covered. Mortgage, debts, a spouse's income, and funeral costs. Our life insurance calculator can help you total it.
- Check what you already have. VGLI, VALife, S-DVI, employer or union coverage.
- Match the need to the length. A mortgage ends; a funeral cost does not. Term fits the first, whole life fits the second.
- Get quotes while you're healthy. Prices rise with age and new health issues.
- Review beneficiaries. Make sure every policy names the right people.
For example, a hypothetical 64-year-old veteran with $100,000 left on a mortgage and a 0% service-connected rating might use a private term policy for the mortgage and VALife for final expenses. This is only an illustration. Your own mix depends on your health and goals.
To see how VA and private options compare side by side, read our guide to the best life insurance for veterans, or explore more veterans life insurance guides for next steps.
Frequently asked questions
Can I still get VGLI if I'm over 60?
You can keep VGLI for life as long as you pay premiums, and there is no age limit to keep it. New enrollment is tied to your separation date, and VA says you can increase coverage in $25,000 steps only until age 60.
Check veteran optionsIs life insurance for a 70-year-old veteran expensive?
Costs rise with age for everyone. The price depends on your health, the type of policy, and the amount. Smaller final expense policies are often the most affordable way to cover funeral costs at 70 and older.
Check veteran optionsCan I get life insurance at 75 without a medical exam?
Often, yes. Simplified issue policies ask health questions without an exam, and guaranteed issue policies ask none. Guaranteed issue plans usually have lower limits and a graded benefit for the first few years.
Check veteran optionsShould I drop VGLI and buy a private policy?
Only after the new policy is approved and in force. The NAIC advises not to cancel a current policy until you have received the new one. Compare the price, term length, and your health before switching.
Check veteran optionsDoes the VA offer free life insurance to veterans?
No. VA life insurance programs such as VGLI and VALife require premium payments. VA does provide some burial benefits, like a national cemetery gravesite and headstone, at no cost to eligible families.
Check veteran optionsSources
About the author
Editorial TeamResearch & editorial
Our editorial team researches and writes these guides from primary sources — including the VA, IRS, Social Security Administration, CFPB, NAIC, and NFDA — and updates them as rules and figures change. Guides are general information, not financial, legal, or tax advice.
