Best Life Insurance Companies for Seniors in Texas
If you’re a senior looking for life insurance in Texas, the best options to consider are Mutual of Omaha, Aetna, Aflac, and Cigna.
These carriers consistently offer affordable premiums, easy approvals, and strong financial stability - all of which matter most when you’re planning final expenses or leaving something behind for your loved ones.
Choosing the right final expense life insurance can feel overwhelming, with so many options available. That’s where we can help.
Let's explore Mutual of Omaha's offerings in Texas and compare them to leading competitors to find the best choice for you.
We'll share what we like, what we don't, and why each company might be worth considering.
Our Top Picks
#1. Mutual of Omaha
We’ve worked with Mutual of Omaha for decades, and they’ve consistently proven themselves with fair pricing and fast claims processing.
For many Texans, they’re our first recommendation - especially if you’re healthy and want reliable protection without jumping through hoops.
Pros:
- Over 100 years of experience with a trusted reputation
- No medical exam required for many senior policies
- Competitive rates, especially for women and non-smokers
- Wide range of products, including child life insurance
- Strong financial strength and customer satisfaction
Cons:
- Final expense coverage maxes out around $25,000 - not enough for larger needs
- Some policies require a phone interview, which can be inconvenient
- Premiums may be higher if you have significant health issues compared to “guaranteed issue” competitors
Why we love it:
Mutual of Omaha has been around since 1909 and has built a reputation as one of the most trusted names in insurance.
It’s a mutual company, meaning it’s owned by its policyholders, not stockholders - which often translates into a more customer-focused approach. With an exceptional financial strength rating, Mutual of Omaha has the resources to pay claims reliably, and their whole life policies are particularly attractive because many are available without a medical exam.
Mutual of Omaha consistently ranks well in customer satisfaction surveys - in 2024, they came in #6 out of 21 companies in J.D. Power’s U.S. Life Insurance Study.
Complaints to regulators are close to the industry average for a company their size, which tells us their customer service is steady and dependable.
What they offer seniors:
For Texas seniors, the most popular choice is their final expense (burial) whole life insurance, which provides $2,000–$25,000 in permanent coverage.
Approval is simple, with no medical exam required, making it a great fit for those who just want coverage for funeral costs and a little extra peace of mind for family. For those who want more, they also sell term life (up to age 80) and universal life options.
Who it’s best for:
Mutual of Omaha is best suited for seniors in relatively good health who want affordable, level coverage with no waiting period.
Women and non-smokers often see especially competitive rates, and the company is also one of the strongest options if you want coverage for children or grandchildren (they sell whole life policies for kids as young as 14 days old).
#2. Aetna (Accendo Life)
Time and again, Aetna has been the company that comes through for seniors when other doors have closed. We’ve seen them approve applicants in their late 80s and others with health challenges who would normally face declines elsewhere.
For those who need coverage and worry about their health history, Aetna is often the most reliable option.
Pros:
- Accepts seniors up to age 89 - one of the highest limits available.
- No medical exams, just health questions.
- Generous with common health conditions; many qualify for immediate coverage.
- Permanent whole life protection with level premiums and lifetime coverage.
- Builds small cash value that can be borrowed against if needed.
Cons:
- Doesn’t offer guaranteed issue (some carriers do, though at higher cost).
- Pricing may not always be the very lowest for younger, healthier seniors.
- Paperwork and policy issuance can take a little longer than competitors.
Why it stands out:
Aetna, through its Accendo Life subsidiary, has become one of the strongest choices for seniors looking for final expense insurance.
What sets it apart is its flexibility - coverage is available up to age 89, which is almost unheard of in the industry. Unlike traditional policies, there’s no medical exam required.
Approval is based on simple health questions, and Aetna has a reputation for being generous with conditions that might cause issues elsewhere, like diabetes, COPD, or high blood pressure.
For seniors who’ve been declined by other carriers, Aetna often provides a second chance. Many applicants are pleasantly surprised to qualify for immediate coverage rather than being pushed into a graded or guaranteed issue plan. That means loved ones are protected right away, without waiting periods or reduced benefits in the first few years.
What they offer seniors:
Aetna’s final expense insurance is a permanent whole life plan. This means your premiums stay level for life and your death benefit never decreases. Coverage is designed specifically to handle funeral expenses, medical bills, or leaving a modest legacy behind for family.
Policies also accumulate a small cash value over time, which can serve as a financial cushion if you ever need to borrow against the policy.
For Texans, this combination of lenient underwriting, broad age acceptance, and straightforward benefits makes Aetna a very attractive choice.
Who it’s best for:
- Older seniors: With an age cap of 89, Aetna opens the door to applicants who might be too old for other companies.
- People with health conditions: If you’ve been told “no” elsewhere because of diabetes, COPD, or even more serious medical history, Aetna often says “yes.”
- Those seeking simple approval: No medical exams, no lab work - just easy health questions.
We’ve personally helped many Texans who were discouraged after multiple declines get coverage through Aetna. Their underwriting flexibility can be a game-changer for seniors who thought life insurance was no longer an option.
#3. Aflac
We’ve seen Aflac appeal strongly to seniors who already feel familiar with the brand from years of seeing their products at work.
The company’s fast claims process is a major plus, though pricing isn’t always the most competitive. For Texans who want the comfort of a household name and straightforward policies, Aflac is a solid option - especially if you qualify for immediate coverage.
Pros:
- Well-known and trusted nationwide brand.
- Final expense coverage available up to $50,000.
- Simple applications with no medical exam.
- Fast, reliable claims payout process.
- Multiple life insurance options (term, whole, final expense, supplemental).
Cons:
- Higher-than-expected complaint volume with regulators.
- No online quotes - you must speak with an agent.
- Some policies aren’t available in all states.
- Final expense “modified plan” has a 2-year waiting period for natural death.
Most Texans already recognize Aflac from their workplace benefits or those famous TV ads. While traditionally known for supplemental insurance, Aflac has expanded into term, whole, and final expense life insurance.
What makes them attractive to seniors is their straightforward applications and reputation for fast benefit payouts - something families deeply appreciate when the time comes to file a claim.
Aflac’s financial strength is rated “Exceptional,” meaning they have the resources to pay claims. However, it’s worth noting they receive more consumer complaints than expected for a company of their size. Still, many clients choose Aflac for the brand-name security and the reassurance of working with a company they already know.
What they offer seniors:
Aflac’s final expense life insurance is available to seniors between ages 45 and 80, with coverage amounts ranging from $5,000 to $50,000. Healthy applicants may qualify for the level plan, which pays the full benefit immediately (no waiting period).
Those with health issues may be offered the modified plan, where natural death benefits are limited in the first two years.
In addition, Aflac also offers term life (10, 20, or 30 years) and whole life policies, both up to $250,000 in coverage. For families who want more flexibility, there are riders available - including child coverage and accidental death benefits.
Who it fits:
- Seniors who want the peace of mind of a brand-name company.
- Healthy applicants who can qualify for the level plan and get immediate coverage.
- Families who prefer a company known for quick claims processing and decades of nationwide recognition.
Many of our clients already know Aflac from work or TV ads. They’re newer to final expense, but growing fast - and for seniors who value a trusted brand, they’re a very comfortable choice.
#4. Cigna
In our work with Texans, Cigna has proven to be a steady, no-nonsense option. The applications are simple, rates are competitive, and claims service has been consistent.
When clients want a balance of affordability and reliability, Cigna often makes the cut.
Pros:
- Competitive pricing for ages 50–85
- Multiple plan types (Level, Graded, sometimes Guaranteed)
- Strong brand reputation and financial ratings
- No medical exams required, just health questions
- Policies build cash value over time
Cons:
- Coverage amounts are capped (typically $35,000 or less)
- Guaranteed Issue not always available in every state
- Premiums may be higher for smokers or those with chronic conditions
- Not always the absolute cheapest - competitors sometimes undercut Cigna
Cigna is a household name in health insurance, and its final expense life insurance (burial insurance) has become a strong choice for many seniors.
As a global health service company with over 200 years of history, Cigna carries significant brand trust and strong financial ratings. That reputation gives families confidence that claims will be paid quickly and reliably - an important factor when loved ones are dealing with end-of-life expense.
Why it stands out:
Cigna’s final expense policies are whole life insurance, designed specifically to cover funeral costs, medical bills, and other end-of-life expenses. Unlike term insurance, these policies don’t expire as long as premiums are paid.
Cigna offers several versions:
- Level Benefit Plan: Immediate coverage with no waiting period for qualified applicants, using simplified health questions.
- Graded Benefit Plan: For applicants with more serious health conditions, this plan has a two-year graded period before the full benefit is available for natural causes.
- Guaranteed Issue (in some states): No health questions asked, but these plans always include a waiting period and higher premiums.
Coverage typically ranges from $5,000 to $35,000 depending on your state, age, and health. Premiums are fixed for life and policies build some cash value over time.
Who it's best for:
Cigna is a great middle-ground option. It works especially well for seniors between 50-85 who want a balance of affordable rates, simple applications, and flexible underwriting.
If you’re in decent health, you can often qualify for immediate coverage at competitive rates. And if you have health issues, Cigna’s graded or guaranteed options can still provide access to coverage.
For Texans in particular, Cigna is often a strong competitor alongside Mutual of Omaha and Aetna - sometimes coming in cheaper depending on age and health profile.
Comparing the Financial Ratings of Final Expense Insurance Providers
Let’s take a closer look at the financial ratings of the four companies we’ve been discussing: Mutual of Omaha, Aetna, Aflac, and Cigna.
These ratings are typically assigned by agencies like A.M. Best, which specialize in assessing the financial strength and stability of insurance companies.
Company
Mutual of Omaha
Aetna
Aflac
Cigna
A.M. Best Rating
A+ (Superior)
A (Excellent)
A+ (Superior)
A (Excellent)
What it Means for You
Mutual of Omaha’s A+ rating ensures high reliability for payouts and a strong history of meeting claims.
Aetna’s A rating reflects solid financial health, ensuring dependable payouts even for high-risk policyholders.
Aflac’s A+ rating offers high confidence in payouts, especially with its fast approval and immediate coverage.
Cigna’s A rating shows stable financial strength, offering reliable payouts for basic coverage needs.
Popular Companies To Avoid
Not every company advertising life insurance for seniors in Texas has your best interests at heart. Some carriers spend millions on TV ads but hide the real drawbacks of their policies in the fine print.
These are two of the most common names we caution seniors to stay away from:
#1. Colonial Penn
Colonial Penn is famous for its “$9.95 plan,” but here’s the truth: those ads only buy you a very small amount of coverage, often just a few thousand dollars.
For most seniors, that won’t come close to covering funeral costs.
On top of that, Colonial Penn requires a two-year waiting period before the full benefit is paid out for natural death. If you pass away within that time, your family won’t receive the full coverage - just a return of premiums paid.
Combine that with high prices for very low benefits, and it’s easy to see why this is one of the most misleading options on the market.
#2. Globe Life
Globe Life is another name that runs a lot of advertising, but their policies come with serious drawbacks. Unlike most senior whole life plans, Globe Life’s coverage can expire, leaving you without protection when you need it most.
Even worse, their premiums increase every five years, which can be devastating for seniors living on fixed incomes. What starts off cheap often becomes unaffordable down the line, forcing many people to drop their coverage altogether.
That means paying in for years and ending up with nothing when your family needs protection.
Why we recommend you stay away: Both Colonial Penn and Globe Life rely heavily on marketing but don’t provide the kind of stable, affordable coverage that seniors in Texas truly need.
We’ve seen too many families misled by their ads, only to discover later that the policies they bought either don’t last, don’t pay enough, or become unaffordable.
In our experience, seniors are much better served by trusted names like Mutual of Omaha, Aetna, Aflac, or Cigna - companies that offer lifetime coverage, fair pricing, and clear terms you can rely on.
What Type of Life Insurance Should I Get?
When deciding which type of life insurance is right for you, it helps to first understand how the options differ:
Term life insurance: Term life is designed to provide coverage for a set number of years - typically 10, 20, or 30. It’s usually chosen by people who still have dependents relying on their income or big obligations like a mortgage. The coverage ends when the term ends, unless you convert it to a permanent policy.
For seniors, term life is less common, because most people in their later years want coverage that doesn’t expire.
Final expense insurance: Final expense (also called burial insurance) is built specifically for older adults who want affordable protection for end-of-life costs. Coverage amounts are usually smaller - $5,000 to $50,000 - and approvals are much easier than with traditional life insurance.
That makes it ideal for seniors who want peace of mind knowing funeral costs or medical bills won’t burden their families.
Permanent life insurance: Permanent policies, such as whole life or universal life, last your entire lifetime and never expire as long as you pay your premiums. They can also build cash value, which can be borrowed against if needed.
These are more expensive than final expense policies, but they’re useful if you want to leave a larger inheritance or long-term financial gift to your family.
How to Choose Life Insurance That Fits Your Needs
The right policy depends on your budget, health, and goals for your family.
Here are the key questions we ask every client before making a recommendation:
- How long will your loved ones need coverage? If you only need coverage for a limited time - for example, until a mortgage is paid off - term life may work, though it’s not often used past age 70. If you want lifelong peace of mind, whole life or final expense insurance is usually a better fit.
- What end-of-life costs do you want to cover? If your main concern is making sure funeral and medical expenses are handled, a final expense policy provides affordable, reliable protection.
- Do you want to leave money behind? If your goal is to leave an inheritance or help your family with ongoing financial needs, permanent life insurance offers higher coverage amounts that never expire.
- What’s your health situation? Health and medications play a big role in what you can qualify for. The good news: final expense policies don’t require a medical exam, and many companies offer flexible approvals even if you’ve been declined before.
Life insurance is about matching your coverage to your goals. If you only want to cover burial costs, final expense insurance is usually the best choice.
If you want to leave a larger legacy, whole life may be worth the higher premiums.
And while term life can make sense for younger families, most seniors in Texas find the most value in final expense or whole life policies.
Bottom Line
For seniors in Texas, Mutual of Omaha and Aetna consistently stand out as the best options for final expense life insurance.
Mutual of Omaha is a trusted name with competitive rates for healthier seniors, while Aetna shines for those with health conditions or who are older and need flexible underwriting.
Both companies give you the lifetime coverage and stability that seniors value most - with no surprises down the road.
Aflac and Cigna also have their place. Aflac is a great fit if you want the comfort of a household brand and a fast claims process, while Cigna often provides strong pricing and straightforward policies that make life insurance simple.
The key is to match your situation - health, budget, and long-term goals - with the company most likely to say yes and keep your coverage affordable.
That’s what we do every day: help Texans cut through the noise, avoid overpriced or misleading options, and secure a plan their families can count on.
FAQs
Yes, in most cases. Companies like Aetna and Cigna are very flexible with health conditions and often approve people who were declined elsewhere. That’s because final expense policies use simplified underwriting - just a few health questions instead of a full medical exam. Even if you’ve been denied traditional life insurance, there are often plans designed to fit your situation.
Term life is temporary - usually 10, 20, or 30 years - and it expires at the end of the term. That’s why it’s not usually recommended past age 70. Final expense insurance (a type of whole life) lasts your entire lifetime, which makes it ideal for seniors who want to cover funeral costs or leave something behind for their family. The peace of mind comes from knowing it never runs out as long as you pay your premiums.
No. Most senior life insurance - including the companies we recommend - only requires a short health questionnaire. There are no needles, no doctors, no exams. Some policies even guarantee acceptance regardless of health, though those usually come with a waiting period before full benefits kick in.
Yes, but options get more limited. Companies like Aetna (Accendo Life) accept applicants up to age 89, while others may cut off eligibility at 80 or 85. The sooner you apply, the better - waiting often means fewer choices and higher premiums.
Not with final expense whole life policies. Once you’re approved, your rate is locked in for life. That’s one of the main advantages over term insurance or certain TV-advertised policies, where premiums can rise every few years. With trusted carriers like Mutual of Omaha, Aetna, Aflac, or Cigna, what you sign up for today is what you’ll keep for as long as you have the policy.
With nearly 15 years of experience in the insurance industry, Matt Kiggins is the Senior Editor at Texas Insurance Guide and a seasoned Health & Life Agent licensed in multiple states, including Texas (#1585860). He is also the co-founder of Policy Guide, a respected insurance agency based in Pensacola, FL. Matt has built his career on one simple principle: people deserve clear, honest guidance when making some of life’s most important healthcare decisions.
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