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Is Term Life Insurance Affordable Over 60?

by Scott G on December 5, 2012 · 2 comments

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Can Seniors Still Get Affordable Term Life Insurance Over 60?

There are many reasons why someone may need life insurance over the age of 60, whether it is for income replacement, to cover mortgages and loans, or for funeral benefits.   I understand as long as people have families and obligations there is a need for life insurance.  When looking for life insurance over the age of 60, it is vital that you compare rates.  Prices can vary greatly from one company to the next when you are over 60.

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Here are the costs for life insurance over 60:

$250k 10-year level term for a 60 year old male at the Preferred Rating class, non-smoker = $72.21 with Savings Bank Life Insurance Co of MA.

$250k 10-year level term for a 61 year old male at the Preferred Rating class, non-smoker = $79.61 with Savings Bank Life Insurance Co of MA.

$250k 10-year level term for a 62 year old male at the Preferred Rating class, non-smoker = $87.87 with Savings Bank Life Insurance Co of MA.

$250k 10-year level term for a 63 year old male at the Preferred Rating class, non-smoker = $99.18 with Savings Bank Life Insurance Co of MA.

$250k 10-year level term for a 64 year old male at the Preferred Rating class, non-smoker = $112.45 with Savings Bank Life Insurance Co of MA.

$250k 10-year level term for a 65 year old male at the Preferred Rating class, non-smoker = $131.95 with Protective Life Insurance Company.

If you are looking life insurance and you are over the age of 60:

*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.

John Balk September 11, 2013 at 3:22 pm

Looking for affordable term insurance for up to $50,000; can pay up to $50.00

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