Life Insurance for Elderly

 

   
       
 
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Can an 80 Year Old Get Life Insurance?

As we age there are many things that change. Our children leave the home andShopping for Life Insurance In Your Eighties grandchildren come into our life. Our biggest expenses are paid off and we settle into a life of retirement. We also start to think about an inevitable part of everyone's life - the end of life. This brings about many questions and concerns, including the realization of a need for life insurance. Many people obtain life insurance in their younger years, but others have a need for life insurance later in life due to various circumstances. If you have reached age 80 and you don't have any life insurance coverage or you don't have enough, one of the first questions you'll ask is can an 80 year old even get life insurance? The answer to that is yes, but there are several things you should know if you are shopping for life insurance at an older age.

The Older You Are, the More Expensive Life Insurance Gets

As you probably understand, life insurance rates are based a lot on age. A policy for a 20 year old is going to be much, much cheaper than a policy for someone who is seventy or even eighty years old. This is purely based on statistics because statistics show that a younger person has many more years of life to pay premiums. Another factor in obtaining life insurance at age 80 is your health. As you get older, your health starts to decline. Many seniors and elderly have high blood pressure, high cholesterol, diabetes, as well as a history of stroke, heart problems, and even cancer. With these types of health concerns, the rates you will pay on a policy will be higher.

Final Expense Insurance Is Your Best Option

Most seniors who have reached their eighties and are shopping for life insurance are simply looking for a policy to cover their final expenses so that those costs are not left on their loved ones. This can be a policy as small as $3,000 or as much as $50,000 depending on your budget and your needs. Some things to consider are funeral expenses, which could easily be up to $10,000 as well as final bills, unpaid medical expenses, probate costs, taxes, and other debts.

You Won't Need to Take a Medical Exam

One of the benefits of buying a final expense life insurance policy after age 80 is that you won't need to go through the hassle of a medical exam to qualify. This means you can obtain your protection quickly. In order to apply you fill out an application and in many cases you will complete a phone interview, where you'll be asked about your health history and prescription use. Your answers to these questions will provide the information needed to determine what type of policy you qualify for and at what rate.

Compare Rates Online Instantly

If you need life insurance coverage then the best way to get started is by first comparing rates. You can view up to 7 rates online instantly and choose which company is best for your needs. Don't put off the decision to buy life insurance any longer. Get a free rate comparison now.

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