Life Insurance for Seniors Over 70

Although the cost of life insurance may start going up once you reach the age 50, life insurance for seniors over 70 may be harder to find and more expensive. Over 70 life insurance may be more expensive because the life insurance companies see age as directly related to the risk they are taking by offering life insurance. Essentially, the older you are, the less likely the life insurance companies feel they will be to make money on the policy.

Despite this, it may still be possible to get reasonable life insurance for seniors over 70. The key may be to shop around for the best options. You may opt for an over 70 life insurance policy that may be designed to only cover burial costs. You may opt for life insurance for seniors over 70 that also build cash value to maximize the potential death benefits.

The advantages of a term life policy for over 70 life insurance may be that it may cost less than most other options. However, not everyone may qualify for term life insurance for seniors over 70. If the premiums are still affordable, whole life policies may be easier to qualify for when looking for life insurance for seniors over 70.

Another potential option may be universal life insurance. Although the terms and availability may vary, it may be easier to qualify for than term life insurance and less expensive than whole life insurance.

For additional information on over 70 life insurance, read life insurance for senior citizens. You may also find “Figure out whether life insurance for Seniors could be the Right Choice for You” filled with valuable information.