Get High Quality and Cheap Life Insurance at Age 67

by Jeff Rose on August 25, 2016 · 0 comments

Life Insurance at Age 67Life insurance can provide value for anyone, regardless of their age. Don’t think that even though you’ve retired, or are about to retire, that you no longer need life insurance. Although it is more difficult to obtain life insurance at age sixty seven, it is still very possible.

The goals of someone at this age are likely very different though so it is likely that they will want to steer towards certain types of insurance and away from others. Regardless, there are multiple factors that must be considered before settling on any one type of insurance.

What do you need?

As a sixty seven year old retirement has early come or is rapidly approaching. You are most likely an empty nester and your family is largely independent of you. If nobody relies on your annual salary, why would you need a life insurance policy at this age? There are several reasons that people well into their 60’s shop for life insurance every day.

Even at this age, you could leave behind a lot of debt. All of this debt would be given to your loved ones. Not exactly the legacy you want to leave behind, is it? If your old life insurance policy has expired, but your debts haven’t, it’s a great idea to apply for a new plan that would cover all of the final expenses.

However, caring for your family is probably still a high priority regardless of how dependent they are on you. Knowing that your family will be well taken care of in your absence is a feeling that cannot be replaced by any amount of money.

Many people want to leave behind a wonderful legacy. In most cases this is a large sum of money that they have been working on building for years, but after you pass away, that heritage could get eaten alive by taxes and fees. A life insurance policy is a great way to counteract those taxes and ensure that your family gets the full legacy that you wanted to leave them.

What are the going rates for a 67 year old?

Insurance companies have a complex algorithm that they use in order to determine what your rates will be. Your health today is not the only factor, and just because you consider yourself healthy does not necessarily mean that a life insurance company will do the same.

However, if you are indeed healthy, you will want to go for the Preferred Plus policy. This not only provides quality coverage but it will do so at an affordable rate.
Here are some sample quotes for a $250,000 policy at the Preferred rating:

Sex10 Year15 Year20 Year
Male$160.16/month$224.66/month$336.66/month
Female$93.19/month$129.14/month$222.25/month

At age sixty seven you hopefully have no medical ailments, but age this can change very quickly. It is always better to be safe than sorry and secure life insurance now while you are in good health and mind. .

What Type of Insurance Does a 67 Year Old Need?

Despite what some people may think, it is never too late to start shopping for life insurance. Although it is certainly true that your rates will increase with age, people over 60 can still find affordable rates despite having waited so long.

Depending on where you are in life, the type of insurance that you may need varies. It is often times a good idea to consult the advice of an experienced life insurance agent who can help steer you towards the right insurance.

What is Term Life Insurance?

Term life insurance is appealing for many ages whether that be in your 50’s or 60’s, but particularly for someone at age sixty seven. Not only is it one of the most affordable type of insurance, but it is best suited for someone of the age because a sixty seven year old most likely does not need insurance for much longer than the shortest term that is available.

Term life insurance is offered for several different spans of time that could very well cover a 67 year old until death. If you have special conditions, or you just need someone who can help you navigate through the different types of policies, an experienced life insurance agent can help you do so. A knowledgeable agent can guide you to the perfect policy to fit your needs.

Term life insurance comes in a variety of lengths. Deciding how long of a term you want to buy depends on your health and how long you expect to live (hopefully, another 30 years), but the length is going to have a significant impact on how much you pay in monthly premiums. With term policies, it’s a good idea to buy a little longer than you think, because if you have to purchase another policy after this one expires you’ll have to reapply for coverage, at that point your insurance premiums are going to be MUCH more expensive.

Many applicants are surprised at just how affordable a term life insurance policy can be, even at age 67. The best way to get the lowest rates available is to receive quotes from some of the best insurance companies before you decide which plan works best for you. Getting all of these quotes can take hours on the phone calling companies and answering the same questions over and over.

Instead of doing all the hard work yourself, let us do it for you. We can give you the lowest rates from the best companies in the nation. Fill out the quote form on the side and your personalized life insurance quotes will come to you.

Even if you have  high risk health conditions, there are still several life insurance options. Many people with any pre-existing conditions assume that they can’t get approved for a life insurance policy. This isn’t true, there are several insurance agencies that work with high-risk patients or types of policies.

Regardless of your age, one of the best purchases that you can make for you and your family is a life insurance plan. Don’t want any longer to get the coverage and peace of mind that you and your family deserve.

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Get High Quality and Cheap Life Insurance at Age 67
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Buying high quality and cheap life insurance at age 67 seems impossible.You just have to know where to look. Contact us, let's talk about your best options.
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