Is It Hard To Avail Cheap Life Insurance At Age 66?

by Jeff Rose on February 26, 2014 · 0 comments

Life Insurance at Age 66At the age of the sixty six looking for life insurance can be a difficult task.

Health hopefully isn’t deteriorating too much but regardless, insurance companies place a higher level of risk on this age and you will see that in the premium.

This is why it is so important to get life insurance as soon as possible if you are still healthy so that you will be protected from higher rates. Regardless of how much your life insurance is, it is something that provides you with the peace of mind you need to continue living a full and happy life.

Coverage for a 66 Year Old

If you are sixty six, chances are you will only need life insurance for another 10 years in extreme cases. This is true because of the fact that life insurance replaces lost income in the event that anything should happen to you. After retirement, life insurance really does not serve much of a function.

The best option for someone who only needs insurance for a certain number of years is term life insurance. Term life insurance is great for many people at this age because it is also relatively affordable considering the value that you receive from it. If you need more extensive or permanent insurance, whole life insurance is most likely for you.

What are the rates for a 66 year old?

The life insurance rates for a person over 60 are largely dependent on the health and ability of the policy holder. Many factors are considered when determining what rates you will ultimately paid. Do not be fooled by Internet quotes as these are typically for the most healthy of applicants.

If you have any special circumstances, you will most certainly receive a different quote. Navigating the life insurance world can be a daunting task but the countless hours of research will be well worth it when you are finally covered by a policy that works for you.

Here are some sample quotes at the Preferred rating for a $250,000 policy:

Sex10 Year15 Year20 Year
Male$145.06/month$200.16/month$294.88/month
Female$87.06/month$119.68/month$194.81/month

What Risk Tables Does a 66 Year Old Operate On?

There are several reasons that person may be denied coverage. If you have a pre-existing condition such as a serious illness, your rates will almost certainly be much higher.These can include diabetes, heart disorders, and other critical diseases. Standard cheap term life insurance may still be available to someone with what is considered a critical illness if it is deemed to be under control. If you are considered a healthy adult, you hopefully will be able to secure good life insurance at an affordable rate.

If you are a sixty six year old it may be a good idea to get the help from a qualified life insurance agent, though we really recommend this at any age, even if you are 50 and seeking life insurance. They know how to navigate through the world of life insurance and can most likely find you the best rates for the type of policy that you need. Although it may be more time consuming up front, the peace of mind that you will receive with a good policy will be well worth it.

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Is It Hard To Avail Cheap Life Insurance At Age 66?
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Getting life insurance at age 66 can be a hard task. If you want to buy cheap life insurance at this age you need to talk to an expert. Call us.
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