You probably won’t be able to find private disability insurance once you’re a senior (meaning over age 60 or 65), but a new policy would be prohibitively expensive at that point anyway.
As a senior, you’re better off contributing to your retirement fund and applying for Social Security and Medicare when you’re eligible than investing in a personal disability insurance policy.
Can seniors get disability insurance?
It’s hard — and often impossible — for seniors to get private disability insurance. Insurance companies generally won’t offer new policies to seniors, and those that do will charge above-average rates.
Even though it’s hard to get disability insurance once you’re senior-aged, applicants in their 60s may already be eligible for programs like Social Security and Medicare that can take the place of private disability insurance.
If you’re in your 60s and you don’t have disability insurance but you’re not yet retired, your best bet if you can’t work after an illness or injury is applying for Social Security Disability Insurance benefits. In most states if you qualify for SSDI, you also qualify for Medicaid and, eventually Medicare — even if you’re not yet 65.
Can you use your disability insurance when you’re a senior?
Yes, as a senior, you can still file a claim and receive disability insurance benefits as long as you already have an active policy. If your health deteriorates and you can’t work, don’t worry: if you locked in coverage when you were younger or have disability insurance through your current job, you can use your disability insurance just like anyone else.
→ Read more about finding disability insurance that fits your needs
Can seniors hold onto disability insurance after retiring?
You probably won’t be able to hold onto your private disability insurance after you retire. Many disability insurance policies offer benefits periods that end at a specific age, like 65 or 67 (though sometimes you can extend coverage under certain circumstances).
If you retire before the end of your policy’s coverage period, you can keep your disability insurance, but it’s likely not worth it. Keeping your policy through retirement only makes sense if you retire very early in life and think you might return to work later.
What about disability insurance from your job?
If you’re still employed when you’re in your 60s, check with your employee benefits administrator to see if you have group disability insurance through work — this is often fully or partially paid-for by your employer.
Even though group disability insurance usually comes with lower coverage amounts and shorter benefit periods than a policy you purchase on your own, it can still cover you while you’re a senior when other plans expire (as long as you’re still at the same job), though there might be limits on your coverage as you age.
Long-term care insurance vs. disability insurance
If you’re close to senior-aged, you should know about long-term care insurance. Long-term care insurance can cover your expenses when you can’t live independently anymore, like if you move into a nursing home or an assisted-living facility.
If you can afford it, it might be worth having long-term care insurance in addition to disability insurance, since long-term care insurance lasts past retirement age.
When you apply for a long-term care insurance policy, you’ll have to go through a medical exam, and, just like with disability insurance, certain pre-existing conditions may keep you from getting a policy.
You can buy a policy as a senior, but insurance companies may have age limits when you can no longer buy long-term care coverage. Because long-term care insurance costs an average of $2,772 per year (in 2015, according to the National Association of Insurance Commissioners), it may be unaffordable for many seniors.
Social Security disability insurance
You can get Social Security disability benefits (SSDI) through the government as long as you’re eligible for coverage, although it can be very difficult to qualify. It’s worth getting Social Security disability benefits even if you have a private policy — in fact your disability insurance company may require you to apply for SSDI benefits if you file a claim.
If you’re a senior in your early 60s and you’re still working, disability benefits from Social Security can provide a lifeline if you suddenly can’t work and you don’t have other coverage. You’ll also become eligible for Medicaid if you get SSDI benefits, even if you’re not 65 yet.
If you qualify for SSDI benefits, you’ll automatically receive retirement benefits once you reach full retirement age. But you can’t collect disability and retirement benefits from Social Security at the same time.
Which seniors qualify for Social Security disability benefits?
In order to qualify for SSDI, you have to meet the Social Security Administration’s definition of disability, which is typically stricter than for private disability insurance.
Social Security disability insurance also has work requirements. Seniors need anywhere from 9 ½ to 10 or more years of work, including employment right before a disability, to qualify for coverage.
You’re eligible for full retirement benefits from Social Security at between 66 and 67 years old. If you become disabled before that, you’re eligible for SSDI benefits — your benefit will be the same as full retirement benefits.
Year of birth | Full retirement age |
|---|---|
1943-1954 | 66 |
1955 | 66 and 2 months |
1956 | 66 and 4 months |
1957 | 66 and 6 months |
1958 | 66 and 8 months |
1959 | 66 and 10 months |
1960 and later | 67 |
Eligibility for Social Security retirement benefits
Frequently asked questions
Do seniors need disability insurance?
No, you don’t need disability insurance once you’re a senior. Assuming you have money saved up, it’s better to put your disability benefits towards your retirement and prepare to live off of your savings until you qualify for Social Security and Medicare benefits.
What is the OASDI program?
OASDI stands for Old Age, Survivors, and Disability Insurance. It’s the official name for Social Security, which you can qualify for depending on your age, income, and whether an injury or illness is keeping you out of work.
Can you outlive your disability benefits?
You can’t outlive Social Security benefits. If you’re disabled and qualify for coverage, you’ll receive benefits as long as you can’t return to work. Once you reach retirement age, you’ll receive SSI benefits until you die. Private disability insurance on the other hand has an end date that you can live past.
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Social Security disability insurance