Can Elderly people living in New York get life insurance? Yes. There are Guaranteed issue life insurance plans available for elderly residents in the state of New York. Guaranteed issue means you cannot be denied coverage if you meet the age requirement for approval. Ages for approval of guaranteed issue plans vary by insurer, but one highly-rated carrier offers guaranteed policies to people ages 45 to 85. Guaranteed issue means you won't have to take an exam or answer any questions about your health. Some plans offer up to $25,000 of guaranteed acceptance life insurance coverage for elderly people.