Best Type Policy Life Insurance Quotes For Elderly?
Posted September 8, 2009 – 4:29 pm in: term life insuranceAny suggestions on finding a reasonable life insurance policy for a man 54 about to turn 55 in a month with a spouse would be appreciated.
He has a soon to expire term life insurance policy at the present.
He wants the best for his money.
Is a term insurance policy still the best type of policy or would another policy be better?
5 Comments
lifeinsurance.awardspace.info – you can try this company. My parents have their life insurance.
Yikes! 55 isn’t elderly in my book!!
What’s the POINT of the life insurance?? Because if you’re looking for 20 year term, in perfect health, it’s going to cost thousands a year, at that age – because you’re almost guaranteed to die before the term is up.
If it’s to pay for a funeral, you’re probably best off, at that age, just putting the money in a bank, or prepaying funeral costs.
You’re not going to get the same rates you had when you’re 30, for sure – so you especially need to define the GOAL. If you want to keep this until you die, then at this age, you’re not going to see much price difference between term and whole.
No one can recommend what policy you need – because no one here knows what the GOAL of the insurance is.
Please answer some questions so I can asnwer you better. What state do you live in?
How much insurance do you need?
What company is the present term policy with?
How much are you paying monthly or annually?
What length of term is the present policy for?
How many years are left on that term policy?
What type of work do you do?
What type of health are you in at present?
How much do you make each year?
How much premium would you be willing to spend on the right type of policy per year or month?
These are some of the questions any good financial planner would ask and many more before even discussing life insurance with you. If they don’t, I wouldn’t talk to them at all. I don’t sell insurance any longer but did for many years
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Hope that helps, post back if need be- regards- Richard Man U
A term policy is probably better, but will be much more expensive at this point. One option to consider is to get a job where life insurance is included as an employee benefit. If he is retired or doesn’t have this as an option, an alternative might be through his wife. Her job may offer spousal life insurance policies.
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