Life Insurance Over 65

Senior citizens, most likely, will not have the option of purchasing term life insurance. Most companies have an age limit for these products, and life insurance for over 65 is just about that limit for these types of products. For example, most companies will only sell a 10 year term life insurance policy to someone 65 and under. Policies of a longer duration with these companies are certainly out of the question.

romantic-senior-coupleThe perfect product for any senior citizen just might be the guaranteed issue life insurance policy. Most people 60 and over do have a few health concerns, and this can complicate matters when they apply for life insurance. These higher risk health conditions, such as diabetes, heart disease, obesity The guaranteed issue life insurance policy takes for granted that people over 60 have these issues and makes it possible for them to qualify for these policies.

The death benefits are dealt with differently than for other insurance policies. Upon the policy holders’ passing, their beneficiaries will receive their benefits on a graduated basis. For example, if the policy has been in effect for two years, the beneficiaries will receive a percentage of the death benefits they are entitled to receive.

If the policy holder lives past two years, the beneficiaries can receive the full benefits. Though many seniors do not carry a lot of debt, having an insurance policy in place is important to them for the purpose of paying the estat tax. If you are leaving a legacy to your heirs that does not have much in luquid assets a life insurance policy for estate tax is a great way tp insure your beneficiaries have the necessary luquidity to pay the tax bill.

Finding life insurance policies for seniors can be a challenge because of the health problems many people have during these years making them more high risk. Insurance companies that have policies for seniors are willing to make offers to these people. They are welcome to use the comparison tool on this website that will offer them several quotes for these life insurance products. They will only need to fill out the simple form to receive their quotes that may be surprisingly low. Nothing could be easier.

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