Over 60 Years Old and Need Term Life Insurance? No Problem!

by Jeff Rose on July 3, 2012 · 6 comments

over 60 year old life term life insuranceWhen you think of the common profile of someone buying term life insurance, you generally think of a young family, either a newlywed or a family that has young children.

Typically, you’re looking to protect their family financially in the event of a tragic loss of the breadwinner.

You don’t typically think of someone over the age of 60, or even 70, wanting to buy term life insurance but believe it or not, it’s more common than you think.

However, you’re probably wondering why would somebody in their golden years want to buy a term life insurance, aren’t they already self-insured?

Well, typically that is the case.

There are some instances where over 60 year-olds need to buy term life insurance. Here’s a few recent instances that I experienced:

Pension Protection

Recently I took a phone call from a gentleman who is in his mid-60s and was contemplating retirement. He had worked at his job for a number of years and had a very nice pension. As with any pension, the only downside was what happened if he were to die prematurely? His spouse would be left with far less than he was taking. He could always take 100% of the pension on him and his spouse’s life but then that in turn, made his monthly benefit much lower than he liked.

  • So what was the alternative?
  • What are his options?

One option is to buy a term life insurance policy that would make up the difference in the event that he was to pass away prematurely. Now you’re probably wondering what type of insurance carrier is going to approve someone for a term policy for x number of years. Believe it or not, there are a few but it does depend on your age, obviously, your health, obviously, and also the state that your reside in, not so obvious.

In this particular case, Transamerica was going to write him for a term policy for the amount that he was seeking. Another option that he had, which actually ended up being a little cheaper, was buying a level term policy. In this case, you buy a guaranteed universal life policy set at a determined age. When we compared the two, it was actually cheaper to buy the guaranteed universal life policy than the standard term.

This is just another prime example of working with an independent insurance agent that can explore multiple options to get you the best and cheapest term life coverage you deserve.

A Second Marriage

Recently I had two instances where I had a 60-year-old and a 70-year-old that were both wanting to buy term life insurance. While they’re ages differed by a decade, the one thing they had in common was they had both remarried. Both wanted to have some type of life insurance protection for their new spouse.

In one case, the gentleman was healthy and had no major heath conditions while the other did have a high-risk condition that had us do some more research to find the right carrier. In both cases, we were able to get the life insurance coverage even thought you wouldn’t think it would be easy to get life insurance for a 60-year-old or even life insurance for a 70-year-old. It’s just a constant reminder that there’re typically always options when you work with an independent life insurance agent.

If you are a senior looking for cheap term life insurance, don’t give up. We’ve been able to get seniors approved for life insurance from those rated Preferred Best to those having previous health conditions that even though the rate is Standard, at least they got the coverage that they were seeking.

Sample Term Life Insurance Quotes for Over 60 Year-Olds

Here’s a look at two sample quotes for someone in their 60’s.  The first is a 20 year $250,000 term life policy for a 60 year-old.


over 60 years old term life quote $250,000

Sample Quote for 60 year-old buying term life.

 Here’s a sample quote for a 60 year wanting to buy a $250,000 30 year term policy.   Yes, even a 60 year-old can buy a 30 year term policy!

0ver 60 years old term life insurance rate

30 Year Term Quote for a 60 Year-old

Are you over the age of 60 and in need of a term life policy?  Let us help!  We work with all the top life insurance companies in the industry today.  We specialize in getting life insurance policies for anyone looking for life insurance who is over 50.  This allows us to know that age group and their specific needs.  If you have any questions then contact us at 888-836-7071 or use the form on this page to get started.  While we have complete guides for life insurance by age, we have specific information on this site for people who are:

61 Years Old                   62 Years Old

63 Years Old                   64 Years Old

65 Years Old                   66 Years Old

67 Years Old                   68 Years Old

If at any time you have a question or just need a clarification please feel free to contact us.


{ 6 comments… read them below or add one }

Shawn May December 25, 2012 at 4:05 pm

I am interested in term insurance for my husband & I both 63. We just bought a new house on a 15 year loan & need to see about making sure our mortgage is paid in full if something were to happen to us.


Jeff Rose December 29, 2012 at 4:33 am

@ Shawn Contact our office and we’ll be happy to help.


adolph herrera February 20, 2013 at 10:07 pm

my name is adolph herrera i am looking for a 50000 plan…i am try to replace a plan i have now. the doctors found prostate cancer 9 yrs ago. i had radiation treatment 9 yrs ago and i just had my annual
cheack up and it was just find and under control. i am also a deabetic and take insulin. i see my doctor very 4 months to keep an eye on it. i am 5 10 and 190lbs..can you help me find a policy i can afford


Jeff Rose February 21, 2013 at 3:44 pm

@ Adolph Contact my office and we’ll explore which companies we should approach to get you affordable life insurance.


Louise Martin June 12, 2013 at 10:58 pm

I interested in life ins. maybe universal or term age 60 non smoker


Jeff Rose June 16, 2013 at 12:55 pm

@ Louise Be sure to contact our office and we can help you decide which type of policy is best for you (either universal or traditional term).


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