Best life insurance companies for seniors

Seniors can benefit from life insurance for a number of reasons. Getty Images/iStockphoto
If you're a senior, it's not too late to get life insurance coverage. There are many reasons why seniors can benefit from life insurance, from paying for end-of-life expenses to leaving a legacy for loved ones. Yet many older Americans still don't this important financial protection, according to recent studies.

If you're one of them, life insurance is worth considering. But where do you begin? And which insurance policies are best suited to older adults? Below, we will analyze the best life insurance companies for seniors in six categories: flexibility, no-exam policies, term life, whole life, living benefits and max age limits.

If you're in the market for life insurance, start by getting a free price quote now.

Best life insurance companies for seniors
In our comprehensive analysis, we considered a range of factors relevant to seniors, from maximum policy issue age to coverage amounts, in order to determine the best all-around life insurance companies for seniors in specific categories. These are our picks:

Best for flexibility: Ladder
When it comes to flexibility, Ladder is hard to beat. It allows policyholders to easily adjust their coverage as their needs change. For example, if you pay off your mortgage, you can "ladder" down your coverage amount, reducing your premiums. If you welcome a new grandchild you'd like to provide for, you can ladder up your coverage for a higher premium. You can adjust your policy whenever you want and as many times as you want at no charge.