Yes, many companies will give you insurance up to age 85. Your health, type of insurance you want to buy and face amount will determine your rate. Sit down with a good independent agent specializing in the needs of seniors for help in determining your options and finding the best plan for you.
Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Life insurance companies now issue to age 90. The top health classifications may not be available at age 90, but the leverage of life insurance may still be worth it at standard issue. The maturity dates on some contracts go out to age 121.The mortality revolution is affect product design as well as human longevity.
Yes, you can get life insurance at age 60. Some policies that are popular with 60 years old's are No Exam, Whole Life policies that can be used for final expense purposes. Other popular options are competitively priced Universal Life policies used in estate planning, business succession, etc; or Term policies to cover debts or get the last of the kids through college.
There are many reasons to buy life insurance at 60 but interestingly enough people in their early 60's may desire to defer their Social Security benefits to age 70 to max their benefits out. But they may be afraid of dying too early and missing out on taking their SS benefits early. A low cost term insurance policy can cover 10 years cheaply and replace those lost SS benefits to your heirs. The higher SS income may pay for those cheap premiums many times over.
Weather you live long or pass early your heirs are still taken care of. If you live long then the deferral of SS income can be very significantly better.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
One of the most active groups of individuals seeking life insurance, particularly permanent life insurance, is in your age group. They purchase life insurance for a variety of reasons. The term insurance revolution that began in the 1960s has left many without any protection. There are many obligations that life insurance can assist from legacy planning to final expenses.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
As long as you are still alive at age 60 you can get at least some kind of life insurance. In most cases you can get all the best features that life insurance provides and in whatever amount you want. Sixty is not all that old, and most people are still working at age sixty. So then it becomes a matter of what you can afford and what your goals are for your life insurance. Find a reputable insurance adviser that can answer your questions and give you some direction and help.
I will be happy to be that adviser for you if you want to contact me.
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There are many reasons to buy life insurance at 60 but interestingly enough people in their early 60's may desire to defer their Social Security benefits to age 70 to max their benefits out. But they may be afraid of dying too early and missing out on taking their SS benefits early. A low cost term insurance policy can cover 10 years cheaply and replace those lost SS benefits to your heirs. The higher SS income may pay for those cheap premiums many times over.
Weather you live long or pass early your heirs are still taken care of. If you live long then the deferral of SS income can be very significantly better.
I will be happy to be that adviser for you if you want to contact me.