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How Seniors Can Qualify for Final Expense Life Insurance with Dementia or Alzheimer's

Updated on April 28, 2025 • 6 min read

A dementia or Alzheimer’s diagnosis can be emotionally and financially devastating. With monthly in-home care costs averaging nearly $5,000, families of dementia or Alzheimer’s patients could use some support. Life insurance is a great way to provide assistance, but options for life insurance with dementia or Alzheimer’s can be limited.

A dementia or Alzheimer’s diagnosis disqualifies seniors from most forms of life insurance, including term life and universal life insurance. Final expense insurance is the best choice for life insurance for dementia or Alzheimer’s patients. It’s a type of whole life insurance designed to cover end-of-life expenses like funeral bills and often accepts seniors with preexisting conditions.

Unfortunately, while final expense providers are often lenient with health requirements, seniors looking for life insurance with dementia will likely only qualify for guaranteed policies with a waiting period. This highlights the need to find final expense coverage ahead of time, especially if you are at risk or have a family history of dementia or Alzheimer’s. If you apply for a plan early, you can lock in low rates for life and watch your plan’s cash value grow.

To learn more, contact Final Expense Benefits. As experts in the final expense life insurance market, we can help guide you to the best plan for your budget.

Call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET to learn more or check our free online quoting tool for personalized pricing estimates.

What are Dementia & Alzheimer’s Disease?

Dementia and Alzheimer’s are both conditions causing mental decline, often seen in seniors. In fact, according to the United States Centers for Disease Control (CDC), over 6 million seniors in the U.S. have Alzheimer’s disease, with that number expected to double by 2060.

Dementia is not a specific disease — it’s a catchall term for medical conditions that cause a decline in mental ability that interferes with daily life. Dementia conditions often affect memory, thinking, and behavior.

group of focused multiethnic senior friends playing staring contest

Alzheimer’s is the most common type of dementia, accounting for 60% to 80% of dementia cases. It commonly affects short-term memory, but long-term memories are also at risk.

Unfortunately, dementia has no known cure, only effective treatments. The best way to treat dementia is to recognize signs and symptoms or a familial risk. Per the CDC, symptoms include trouble with memory, attention, communication and reasoning, and some vision issues.

It’s key to identify dementia risks early. If you think you or a loved one are at risk, treat it early, but ensure part of that treatment is setting aside some money in a quality final expense life insurance plan. Providing yourself and loved ones peace of mind can be a huge relief in a tough time.

Can You Get Life Insurance If You Have Dementia or Alzheimer’s?

Options for life insurance with dementia or Alzheimer’s can be limited. Many seniors often have difficulty accessing term life and universal life insurance without major health concerns. These types of policies are essentially entirely inaccessible to seniors with preexisting conditions like dementia or Alzheimer’s.

Thankfully, seniors looking for life insurance with dementia or Alzheimer’s can often qualify for final expense policies. Providers intend them to be low-cost ways for seniors to cover their end-of-life expenses. Providers accept applicants with many medical issues, but what about dementia or Alzheimer’s?

Best Life Insurance For Dementia & Alzheimer’s Patients

Unfortunately, seniors with dementia often only qualify for guaranteed final expense plans. Guaranteed plans are commonly used by seniors with preexisting medical issues that present significant risk to life expectancy. 

Guaranteed life insurance ignores applicant risk, doesn’t require a health assessment, and offers coverage to any applicant, regardless of health concerns. However, monthly premium rates for guaranteed plans are often significantly higher than normal final expense life insurance, death benefits are lower, and they have a two-year waiting period.

Two elderly friends standing looking out of the window consoling one another

Insurance providers assess the risk applicants present through a process called underwriting

Underwriting for Life Insurance with Dementia or Alzheimer’s

Insurers assign higher risk to seniors with dementia because their life expectancy can be difficult to predict. Therefore, seniors with dementia or Alzheimer’s only qualify for plans that don’t ask health questions or require a medical exam.

The only final expense plans that don’t ask health questions are guaranteed plans, making them the only options for seniors looking for life insurance with dementia or Alzheimer’s.

Waiting Period for Life Insurance with Dementia or Alzheimer’s

All guaranteed plans have a waiting period, which is often two years. This means that if the insured person dies within the waiting period, benefits are either delayed or reduced. 

A common payout structure for plans with waiting periods is a graded or modified life insurance payout. These policies pay a percentage of the death benefit in the first year after death, typically about 40%. The remainder is paid in the second year. 

Some unreliable life insurance providers, like Lincoln Heritage, only pay a return of paid premiums instead of the full death benefit if the policyholder dies during the waiting period. Your beneficiaries should receive the benefit you paid for. Final Expense Benefits is here to help you get a policy that pays in full as quickly as possible.

How Much Does Final Expense Life Insurance with Dementia or Alzheimer’s Cost?

Premiums for guaranteed plans are significantly higher than typical final expense insurance policies. Seniors who don’t need guaranteed plans enjoy monthly premiums that start around $30 for a policy with a $10,000 death benefit, but rates are about 25% to 40% higher for guaranteed plans.

Prices vary by provider and may be affected by dementia severity. Contact Final Expense Benefits, and we can help you find a plan that fits your needs.

The Importance of Finding Final Expense Insurance Ahead of Time

The best way to ensure you are covered under life insurance with dementia or Alzheimer’s is to enroll for a plan ahead of time. If you’re at risk for dementia, take the time to apply for a plan before symptoms arrive.

You’ll lock in a more affordable monthly rate and be eligible for more flexible plans with higher death benefit amounts, more insurance riders for optional extra coverage, and grow your policy’s cash value over time. Plus, you will be much more likely to be able to get a policy without a waiting period.

Senior adults in a nursing home for the elderly doing leisure activities

Below is a chart with sample rates that you could expect to pay for a $10,000 final expense policy from our top providers. These rates are calculated for a non-smoking applicant with no preexisting health issues.

Company Male
50y/o
Female
50y/o
Male
60y/o
Female
60y/o
Male
70y/o
Female
70y/o
$34
$27
$50
$40
$70
$56
$31
$26
$43
$35
$71
$53
$31
$24
$44
$33
$75
$53
$34
$29
$45
$35
$79
$59
$33
$26
$48
$36
$82
$58

These figures are estimates only, based on a $10,000 final expense insurance policy with no applicant pre-existing conditions.​

If you’re interested in these or any of our other life insurance options, call us at (866) 786-0725 to learn more. Be sure to check our free online quoting tool for personalized pricing estimates.

Final Thoughts

It’s often difficult to find life insurance with dementia or Alzheimer’s, even if you’re looking for final expense insurance. Eligibility can be difficult, and you’ll often only qualify for guaranteed plans, which offer little flexibility and can cost far more than typical policies.

Enrolling ahead of time is the best way to ensure life insurance coverage with dementia or Alzheimer’s. If you are at risk of dementia, be just as proactive with your life insurance as you would be with your treatment and provide peace of mind for yourself and loved ones.

Final Expense Benefits is here to help you review your options for life insurance with or without dementia. Contact us for a free consultation and be sure to check our free online quoting tool for some personalized pricing estimates.

Call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET to learn more.

FAQ

Can someone with dementia get life insurance?

Dementia and Alzheimer’s patients are eligible for some forms of final expense life insurance, but options are limited due to the inherent risk of covering these diseases.

What is the best life insurance for dementia patients?

Final expense is the best option for life insurance with dementia or Alzheimer’s. Unfortunately, you likely will only qualify for a guaranteed life insurance policy if you have dementia or Alzheimer’s.

What is final expense insurance?

Final expense insurance is a type of whole life insurance designed to help seniors cover end-of-life expenses like funerals and burial plot costs. It’s often a good idea to purchase a policy ahead of time if you are at genetic risk for degenerative diseases like dementia and Alzheimer’s.

How much does a funeral cost?

The average funeral costs around $10,000, which is why we use $10,000 as the basis for our final expense insurance quotes. Thankfully, final expense life insurance can be an affordable choice for seniors with dementia or Alzheimer’s looking to cover their end of life expenses ahead of time.