Category Archives: life insurance

Finding Life Insurance For Those who are 62

When searching for life insurance, age is a major factor. If you have reached the age of 62 then it is very important that you are covered. It could make all the financial difference to your family, should some unforeseen circumstances occur. At any stage of life, it is important to be covered, but 62 is a crucial age, and your family will benefit from the coverage.

This article will cover the choices that you have open to you, as the circumstances are slightly different when you are over 60. The life insurance companies view people in this age bracket slightly differently, and there are issues that should be known before taking out a policy. Here they are:

Limited options – realize that your options are more limited than younger people, due to your age. The market is less forgiving to people in this age bracket, but there are also some benefits. For those with little debt, you will find yourself being offered a much better rate. Likewise, as most people will have paid off their mortgage at this stage of life, asset protection is less important. Ensure that you mention these things to the insurance sales person when talking with them. There is no need to purchase life insurance which covers your mortgage payment, or offers a lump sum. This will reduce your policy price.

Pension protection – during the retirement years, your pension is the primary income source. Consider what would happen to your partner if you died early. So, having pension coverage is important for people in over 60 age bracket. There are a number of options that relate to pension coverage, so you should ask the various life insurance companies. Think about choosing a level term life insurance as this may work out cheaper in the long run.

Optional extras – there are many extras that life insurance companies will try to have you invest in. There are many things that may suit your circumstance but the majority are not needed. Most people over 60 live sedentary lives, so the need for additional coverage is not needed. Avoid these extras unless you absolutely will benefit from them.

Policy renewal – ask about the charges that are related to renewing the policy after a certain amount of time. Be careful about extra fees and cancellation charges, and stay away from these companies. Use the tips above to get the very best life insurance when you are 62.

Choosing The Best Life Insurance Companies

When you’re shopping for life insurance companies, there are a number of considerations that need to be kept in mind. There are many options and standards that apply when taking out insurance, so it’s important to do some research first. As such, this article will cover the most important issues for your consideration, so thatContinue Reading

Is Life Insurance For Smokers More Expensive?

Smokers can get life insurance, but they will be likely to pay more for it. Younger adults may pay 15 to 20 percent more, but older adults may pay 50 to 100 percent more. Insurers know that smoking is associated with many serious diseases and a shorter life expectancy. Of course, the older people get,Continue Reading

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