Life Insurance for People Over 70

If you are a senior it may seem difficult or expensive to acquire life insurance. Anyone who is over sixty five is not able to sign up for a term life insurance policy even if it is a short term like 10 years. This does not mean there are not options for people who are over 70 years old and looking to get life insurance.

Available Policies

life insurance for people over 70While traditional policies (whole and term life insurance) are not available to people over seventy (even from the best life insurance companies, see them here), there are two specialized policies that can be of great use.

  • Guaranteed acceptance life insurance is probably the most expensive of all the life insurance policies, on a cost per dollar of coverage basis. These policies are usually pretty small (less than $50,000) and there is no medical exam or medical questions. This lack of information is why the life insurance companies charge more for them, but if you are over 70 and can afford the life insurance premiums this is a useful policy.
  • Burial insurance is simply a policy that will pay for funeral and burial arrangements. This can even include flowers. The key to these plans is doing your entire funeral planning yourself so that you can make sure there is enough money and planning so that none of your loved ones is burdened with either at the time of your passing. These plans have become very popular for our over 70 clients and are a great way to take care of your family.

How do I get the best rates on over 70 life insurance?

Getting the best rates on life insurance always depends on taking the right steps. Anyone looking for life insurance over 70 years old will need to make sure they get:

  • Life insurance quotes from many different companies
  • Quotes for several different policies from each company

This will give you the options that allow you to make the most educated decision. You have the option of talking to multiple different companies and getting quotes for every type of over 70 life insurance that each company offers. The easier way for you to do this is to work with an independent agent. Independent agents do not work for any one insurance company so they are able to shop all the companies and plans in your area. At taik.org we specialize in helping seniors get the best life insurance , whether it be over 70 or life insurance for people over 80, for their needs. If you are a ready to get started with finding the best life insurance use the form on this page and one of our specialists will contact you to help you get all the information you need.

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