Getting Life Insurance Over 70: What You Should Know?

The older you get, the harder it will be for you to get life insurance. If you are 70 or older, your options will be limited, but there are still a few available to you. Your premiums will be a little higher, but you will have the coverage you need. Do your research and try to figure out how much you will need to accomplish your goals. Finding the right agent will help you get started.

Can You Get Life Insurance Over 70?

Life insurance isn’t just for young people with families. You can get insurance when you are older. You will just have to pay a little more. The older you are, the higher your premiums will be. You will also get lower coverage amounts for shorter periods of time. The insurance you get, however, will help your loved ones get through a difficult time, especially if they need the money to pay for your final expenses.

How to Get Life Insurance If Your Older?

The first step in getting life insurance, if you are 70 or older, is to look for insurance carriers that specialize in providing coverage for seniors. They understand the financial situations many seniors face and have experience in finding the right policies for your individual needs. It’s essential to disclose any health conditions you may have, as well as the medications you take. Being honest is a must if you want a quality policy. You may also want to have a medical exam performed before you go to your insurance agent.

Can You Get Life Insurance Over 70 Without a Medical Exam?

There are several life insurance policies that seniors over the age of 70 qualify for that don’t require a medical exam. These policies do have higher premiums, though. If you prefer not to have a medical exam, you can still buy a policy that will help you achieve your financial goals. You shouldn’t have too much trouble finding a policy you can live with from a reputable insurance company.

How Much Will Life Insurance Cost If I’m Over 70?

The cost of your policy will depend on the amount of coverage you want and the type of policy you end up buying. Term life policies will offer the most affordable rates. You can buy term policies in $50,000 increments. Whole-life policies will provide a guaranteed death benefit, but the premiums will be considerably higher. Working with a reputable agent that specializes in this type of insurance will help you find the best policy.

What Type of Life Insurance Is Best for People Over 70?

Every person is different. Their individual circumstances will determine what type of policy is needed and how much coverage should be purchased. Policies with level premiums and living benefits are preferred because they will provide benefits even while the insured is still alive. You have to find a life insurance policy that meets your needs and falls within your budget.

Secure Your Family’s Life with the Right Life Insurance at J Archer Insurance Group

Before you settle on a policy, do some comparison shopping. You can find almost anything you are looking for if you do the right amount of research. Contact the agents at J. Archer Insurance Group today. We can answer all your questions and make sure you get the right policy for your personal needs.