Is there term life Insurance available for people age 70 and over to buy? Yes, if you are seventy or over, you may qualify to purchase a term life insurance policy. However, the duration of term coverage available may be limited to a maximum period of 10 or 15 years, depending on your age and current health. Som insurers may even offer no exam term life insurance plans. In addition, there are guaranteed issue whole life insurance policies available for people between the ages of 45 to 85 years old.