Life Insurance For Seniors Over 70 (Seventy)
Affordable term life insurance rates are still attainable for those who over the age of 70. It’s important to shop with the correct companies to make sure you find the best rates.
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Sample Term Life Insurance Rates for Seniors over 70
$100k 10-year level term policy for a 70 year old female, non-smoker at the Preferred Rating class=$69.83 month with Transamerica. A+ rated company with A.M. Best
$100k 10-year level term policy for a 75 year old female, non-smoker at the Preferred Rating class=$130.11 month with Transamerica. A+ rated company with A.M. Best
$100k 10-year level term policy for an 80 year old female, non-smoker at the Preferred Rating class=$277.46 month with Transamerica. A+ rated company with A.M. Best
It’s important to disclose any health concerns you have or had to your agent. This will enable them to put you with the best company and save the most money.
Also, for my most of my clients over the age of 70, I like to look at the rates on what is called a No-Lapse Guarantee Universal Life Policy. This policy is similar to a level term life policy in that the payments do not increase, however, unlike term the policy doesn’t expire. It is more expensive the term life, however once you reach the age of seventy, it is a good idea to look at the rates to see if this policy will better fit your needs. Also, you can go choose smaller amounts starting at; $25k, $50k, $75k, $100k on up. The quoting engine currently doesn’t run permanent life insurance quotes. If you would like a free permanent life insurance policy rate quote, just fill out the form information here and I will get back to you with the best rates!
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*Rates as of 12/1/2012. The information in this post is for informational purposes only and is not a guarantee of rates and insurability. Rates and eligibly are subject to the underwriting guidelines of the insurance companies and state in which you live.