Is there Life Insurance for Old People?

Can older people get life insurance policies?

Yes, senior citizens may qualify to purchase life insurance coverage.

However, your approval to get insured may depend on your age and health.

Many insurers offer seniors the option of choosing from term life insurance or permanent life insurance plans.

However, those older individuals with health issues or over the age of 85 may find it difficult to get insured.

But, even if you have a health problem, there are guaranteed issue life insurance plans available for people ages 45 to 85.

Here's how you can learn about life insurance for old people and request a free quote for coverage today.

Whole Life Insurance for Seniors

Can seniors get whole life insurance even if they have health issues?

Yes, there are whole life insurance policies available for a senior citizen that has a health condition.

In fact, even if you have been turned down due to your age, health or some other reason, there are guaranteed issue whole life insurance plans available for seniors.

Some insurers offer up to $25,000 of whole life coverage and you may purchase a policy from more than one insurance carrier, if needed.

These guaranteed whole life insurance policies for seniors offer guaranteed approval based on your age, some guaranteeing approval for people ages 45 to 85.

How Much Does It Cost for Term Life Insurance?

The cost of a term life insurance policy can vary from less than $10 per month to over $100 per month depending on the duration of your life insurance and the amount of coverage you need.

In addition, other factors will impact your term life insurance cost including your gender and age.

Several additional risk factors go into determining your rate per $1,000 of life insurance coverage including your health, tobacco use, driving record, occupation, hobbies, height-to-weight ratio, and family health history, etc.

The insurer uses this information and the results of any health exam to develop your life expectancy - how long you are expected to live, and pay your premiums for your life insurance policy.

The younger and healthier you are, the lower your cost of term insurance. The shorter the duration of your term coverage, the lower your cost. And, the lower the amount of life insurance you buy, the lower your cost of coverage.

Term life is usually available for a "term" of 10, 15, 20 or 30 years.

Here's how you can compare instant term life insurance price quotes online from top carriers.

List of Instant Life Insurance Companies

Which life insurance carriers offer instant issue (same day) life insurance coverage?

If you want to start your life insurance coverage right away, there are several online life insurance carriers that offer quick issue plans.

Some of the leading providers of instant life insurance coverage include Haven Life, ANICO, Globe Life, AAA Life and Fidelity Life.

When comparing instant life insurance plans you'll find that prices vary by insurer; as well as, the amount of life insurance available, length of term life coverage and the ages to qualify for a policy.

Here's how you can learn more and review instant life insurance companies online.

Term Life Insurance Instant Issue

What is instant issue term life insurance?

It's a type of temporary life insurance lasting up to 30 years which you can purchase and begin your coverage immediately.

With term life plans you may choose coverage for a duration of 10, 15, 20 or 30 years, usually.

Instant issue term life means you can apply for your policy online (safe and secure) and if approved, you may begin your life insurance protection right away - the same day.

These instant plans come with a money-back guarantee, usually for a period of 30 days.

Learn more about how to get term life insurance instant issue coverage today.

When Life Insurance is Not Needed?

When do people not need life insurance protection?

Although many of us may have a need for life insurance at some point in our lifetime, there are those who may not need life insurance.

Some of the most common reasons people do not need life insurance include:

1. You have enough money saved to pay for your final expenses
2. You have no debts
3. You have no one who relies on you for financial support
4. You are not married
5. You have no children

Can I Get Life Insurance on My Parents?

Yes, adult children may purchase life insurance policies on their parents.

In order to get a life insurance plan on someone else you need to have an insurable interest in that person - meaning you either rely on the person for some means of financial support, or that you would suffer financially if the person were to pass away.

There does exist insurable interest between children and their parents, as children may pay for their parent's burial and funeral costs, or perhaps rely on their parents for financial support.

And, there are guaranteed issue life insurance plans for seniors, so you won't have to worry if your parents have health issues or would rather not take a health exam.

Guaranteed life insurance requires no health exam and no health questions asked. And, people age 45 to 85 are guaranteed approval with some insurers.

Learn more about how to buy life insurance for a parent.

Life Insurance Face Amount?

What is the face amount of a life insurance policy?

The Face Amount of a Life Insurance Policy is the dollar amount of life insurance stated on the first page of the life insurance policy.

This is the amount of money that will be paid to your beneficiary in the case of your death, or the maturity of the policy.

The life insurance policy face amount does not include any additional amounts payable under accidental death or other special provisions, or proceeds acquired through the application of dividends.

You can use a life insurance needs calculator to help you figure out how much life insurance coverage you need to adequately protect your family.