I'm 58 and do not have any life insurance. Is there any?

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PostPosted: Thu Jul 09, 2009 9:14 pm   Post subject: I'm 58 and do not have any life insurance. Is there any?  

I'm retired but had to go back to work to afford health insurance w/ my employer.

al280zx1
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PostPosted: Thu Jul 09, 2009 9:19 pm   Post subject:   

I think you can have private insurance.. but once you retire i think medicare ( Govt) takes care of you..isnt it like that?

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PostPosted: Thu Jul 09, 2009 10:58 pm   Post subject: Insurance  

I'm 58 however that was my Qustion on I don't have Life Insurance; and I can't receive Medicare or SS until age 62. I we don't pay attention to Washington it may become age 90 and there won't be any thing left.


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Al 280
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PostPosted: Fri Jul 10, 2009 7:25 am   Post subject:   

Hello Al, whether or not you would receive Medicare has nothing to do with life insurance. Their purposes are entirely different. While Medicare would take care of the health expenses for you, life insurance would pay out death benefits to your dependents at the event of your death.



Regarding obtaining life insurance policy at the age of 58, IMO is not a big issue. Get in touch with a life insurance agent. And, he would walk you through this matter.



There are also several life insurance agents in this board, and they may come to your rescue too. So just hang tight.

jeorge
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PostPosted: Fri Jul 10, 2009 11:13 am   Post subject:   

A 58 year old can buy life insurance.

InsuranceExpert
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PostPosted: Fri Jul 10, 2009 12:16 pm   Post subject:   

How much coverage are you looking for and how long do you want to keep it?



Are you taking any prescriptions, being treated for any medical conditions, or have any family history of cancer or heart disease before age 60?



What state are you in?





Feel free to contact me at dgold[at]goldfinancialgrp.com if you'd like some help. You can also take a look at our website at www.goldfinancialgrp[dot]com

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PostPosted: Fri Jul 10, 2009 1:28 pm   Post subject:   

At this age, a life insurance premium would be hig..



well I got the point.. I made a mistake...Medicare and life insuracne are totally different concept.



Sorry for that

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PostPosted: Fri Jul 10, 2009 2:11 pm   Post subject:   

Quote:


At this age, a life insurance premium would be high..






That depends on your definition of "high" and how much and how long you want the coverage.....if you are in good health, the cost is very cheap for a tax-free death benefit. For example, $250k death benefit at the most preferred rates is about $1000 per year for 20 years, $2300 for 30 years, and $3000 to guarantee the death benefit forever. $250k tax free is equivalent to about $400k before taxes. If you ask me, that's pretty darn cheap.
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