Is it possible to get affordable life insurance for an 81-year-old with a reverse mortgage?

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Life insurance for the elderly?

Is it possible to get around $40,000 in life insurance for an 81-year-old man? My dad took out a reverse mortgage, and since I’m still living in the house, I’ll need to repay it or move out if he passes away. I don’t have any money, but he thought getting a policy might help me stay in the home. However, I’m having trouble finding a company willing to insure him, except for Colonial Penn, which only offers $6,300 for $149 a month. Are there any other options I could explore?

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I’m surprised that any company is willing to underwrite an 81-year-old. Even if they do, the premiums would be sky-high.

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I’m not concerned about the premiums, I just want to know if it’s even possible.

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Check with Mutual of Omaha or Aetna. They might offer coverage if his health is still in good condition.