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Life Insurance for Seniors in Canada: Policies, Providers, and Tips for Saving MoneyExperior Financial will help to find affordable life insurance for seniors over 70 years old in Canada. Get your FREE quote now! Yes, there are age limits for buying term life insurance for seniors in Canada. Typically, most insurers offer term life insurance to applicants up to age For seniors over 75 in Canada, there are still some insurance options to choose from. Mostly, no medical life insurance products are available, although some.