Over 70 Life insurance
Learn about Over 70 Life Insurance
Are you over age 70 and interested in buying life insurance?
There are many Americans who consider life insurance after the age of 70.
Some of the many reasons people over 70 purchase life insurance may include the following;
1. To create an estate for their family.
2. To pay for final expenses including funeral and burila.
3. To provide retirement funds for your spouse.
4. To pay for outstanding debt inlcuding auto loans and home loans.
5. To pay your estate taxes.
6. To provide financial support for your children and grandchildren's education.
7. To replace your income.
8. To provide money to people who rley on your for financial support.
Life insurance may be available for anyone over 70 years of age, if you are healthy, and you locate the right life insurance company.
Not all life insurers will insure people over age 70. In addition, your current health, occupation, hobbies, weight-to-height ratio, and wheter you smoke or not, may affect your chances of being approve for life insurance.
What are your options for life insurance?
Depending on your age and health you may qualify for permanent life insurance, temporary or term life insurance, or guaranteed acceptance life insurance.
Permanent life insurance provides lifetime coverage and builds some cash value inside the policy. It is usually the most expensive life insurance.
Term life insurance offers you temporary life insurance for a specific number of years. Many people over 70 may be able to purchase coverage for 10 years or less. term life insurance may offer you the lowest priced life insurance option.
If you are unable to get accepted for life insurance, you may want to consider guaranteed acceptance life insurance which offers limited coverage (usually $20,000 or less) and the full coverage is not available until you have owned your policy for 1-2 years.
Lear more about Over 70 Life Insurance and what options may be available to you for life insurance coverage.
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