by helpyouguys » Wed Jul 21, 2010 02:13 pm
Life Insurance For People in Their 80s
People are living longer these days, and that is pleasant news. You might say that for many lucky people, 80 is the new 70! I see many active seniors over 80 that are still engaged in activities. These seniors are exercising, volunteering, going on trips, and playing games! Some are even still working. While we used to regard the decade of the eighties as twilight years, for many it is still a time of enjoyment and productive activities.
Because many older people are still active, they are wondering if they should not have purchased life insurance for their golden years. They may have had policies in the past, but those policies had expired when a term ended, or when they left jobs. Now, in their 8th decade, some of these people are planning for future needs. They think about their own needs, and the needs of other people in their families or business. A life insurance policy may be a useful thing indeed!
Can You Buy Life Insurance Policies For People Over 80?
Well, along with statistics showing that people are living longer, insurers are more willing to offer coverage to older people. There are even insurance agencies and companies that specialize in finding policies for people who are older or who may have some health issues. I spoke to one of these agents, and he told me that you can find coverage for almost anybody, but sometimes it will get expensive or have some unique terms attached to it.
Why Do People In their Eighties Want Life Policies?
There are different reasons that older people look for coverage. Some just want to make sure they have enough money set aside so their families have no trouble paying for their funeral and handing other things that crop up at the end of life. They may just be looking for something called a burial policy. This is a small life insurance policy, and I have seen insurers who will offer this type of policy to applicants up to age 85. Once the policy is in force, it will cover the insured person for their whole life.
Others may have larger issues they are concerned with. Many older people still run and own their own businesses. They are concerned about the continuity of that business after they are gone, and how they can transfer ownership. Others may want to assure a financing company that a loan will get paid back. And finally, some want to use a life policy as a sort of asset that they can use while they are still alive.
If an older person wants a larger policy to handle business needs, they are probably better off looking for a broker that specializes in this type of case. Those agents or brokers will be experienced in finding the right sort of policies for older people.
How To Look For Life Insurance For People Over 80
One simple way to start is by filling out an online life policy quote form. The forms are simple to fill out, and they are an easy and free way to find insurers that want your business!
Do You Need Life Insurance At Age 80 to 85?
People are living longer these days, and that is pleasant news. You might say that for many lucky people, 80 is the new 70! I see many active seniors over 80 that are still engaged in activities. These seniors are exercising, volunteering, going on trips, and playing games! Some are even still working. While we used to regard the decade of the eighties as twilight years, for many it is still a time of enjoyment and productive activities.
Because many older people are still active, they are wondering if they should not have purchased life insurance for their golden years. They may have had policies in the past, but those policies had expired when a term ended, or when they left jobs. Now, in their 8th decade, some of these people are planning for future needs. They think about their own needs, and the needs of other people in their families or business. A life insurance policy may be a useful thing indeed!
Can You Buy Life Insurance Policies For People Over 80?
Well, along with statistics showing that people are living longer, insurers are more willing to offer coverage to older people. There are even insurance agencies and companies that specialize in finding policies for people who are older or who may have some health issues. I spoke to one of these agents, and he told me that you can find coverage for almost anybody, but sometimes it will get expensive or have some unique terms attached to it.
Why Do People In their Eighties Want Life Policies?
There are different reasons that older people look for coverage. Some just want to make sure they have enough money set aside so their families have no trouble paying for their funeral and handing other things that crop up at the end of life. They may just be looking for something called a burial policy. This is a small life insurance policy, and I have seen insurers who will offer this type of policy to applicants up to age 85. Once the policy is in force, it will cover the insured person for their whole life.
Others may have larger issues they are concerned with. Many older people still run and own their own businesses. They are concerned about the continuity of that business after they are gone, and how they can transfer ownership. Others may want to assure a financing company that a loan will get paid back. And finally, some want to use a life policy as a sort of asset that they can use while they are still alive.
If an older person wants a larger policy to handle business needs, they are probably better off looking for a broker that specializes in this type of case. Those agents or brokers will be experienced in finding the right sort of policies for older people.
How To Look For Life Insurance For People Over 80
One simple way to start is by filling out an online life policy quote form. The forms are simple to fill out, and they are an easy and free way to find insurers that want your business!
Do You Need Life Insurance At Age 80 to 85?
Posted: Wed Jul 21, 2010 04:50 pm Post Subject:
ERROR #1
Now, in their 8th decade,
A person past age 80 is in their 9th decade. Same as the 21st century did not start until 1/1/2001.
ERROR #2
They think about their own needs, and the needs of other people in their families or business
Aside from estate planning needs, a person considering life insurance at age 80+ is probably wondering how their funeral expenses are going to be paid.
ERROR #3
One simple way to start is by filling out an online life policy quote form. The forms are simple to fill out, and they are an easy and free way to find insurers that want your business!
This could result in the easiest way to never qualify for life insurance. If any person --regardless of age -- has a need for life insurance, the best recommendation is to work with a local agent to find the right company to place the application with. You'll never find that out using the Internet.
Posted: Wed Jul 21, 2010 06:31 pm Post Subject:
This could result in the easiest way to never qualify for life insurance. If any person --regardless of age -- has a need for life insurance, the best recommendation is to work with a local agent to find the right company to place the application with. You'll never find that out using the Internet.
Error #4
Posted: Wed Jul 21, 2010 11:16 pm Post Subject:
explain
Posted: Wed Jul 21, 2010 11:31 pm Post Subject:
90% of our business isn't local. You don't need someone local, you need someone who knows what the hell they're doing.
Posted: Thu Jul 22, 2010 05:12 am Post Subject:
You don't need someone local, you need someone who knows what the hell they're doing
Understood, and agree completely.
What I was trying to convey was that, by itself, an Internet quoting engine cannot conduct a proper needs analysis and make the recommendations that a live, caring, and knowledgeable agent can provide. May not have come across that way.
Posted: Tue Feb 05, 2013 08:09 pm Post Subject: Life Insurance for seniors over 80
As we are living longer and working longer, senior life insurance has become more important than ever.
Many insurance companies now offer life insurance to individuals up to age 89. However, the rates vary significantly between ages 65, 75 and 85.
The best time to look into life insurance is at your current age because you'll be looking at today's rate.
Posted: Tue Feb 05, 2013 08:54 pm Post Subject:
Many insurance companies now offer life insurance to individuals up to age 89.
10 or 12 companies out of a pool of close to 2000 is not exactly the best definition of "many". Additionally, some states prohibit sales of new life insurance to persons age 85 and older.
Posted: Mon Feb 18, 2013 11:22 am Post Subject: life insurance no medical exam
Well yes many companies offer No medical exam insurance plan. For those peoples how have been dined in the past for insurance protection for any reason like this one the age factor.
Posted: Wed Oct 21, 2015 06:04 pm Post Subject: over 80 life insurance for seniors
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