Life Insurance For Seniors Over 60

Quick Tip:  For INSTANT burial life insurance quote over age 60, complete the form on the side and accurate rates will be displayed from some of the most competitive burial insurance life insurance companies around.

Buying, maximizing and getting the most of a burial life insurance policy depends on you, the policyholder, getting the coverage at the youngest age possible.

The best time of your life to get life insurance is when you are very young, never letting the policy lapse, keeping current and prompt with all premium payments and understanding every aspect of the policy, like benefits and cash value worth, and how you can make it all work for you.

The most affordable burial life insurance rates are available for the youngest, but rates over age 60 are still very affordable if you don’t have enough to cover your final expenses.

Right now, you are the youngest that you will ever be in your life. If you have never owned burial life insurance before and you would burden your family with final expenses if you passed away, then you need to start making all of the right choices now.

Your available options will be limited and restricted in terms of available benefits, but you can get a good life insurance policy that can reap benefits as you enter your 70’s and 80’s.

Don’t delay another moment! Input some basic personal data into the insurance rate finder on this page to receive the most affordable rate quotes instantly. Quality whole life insurance coverage is within your grasp!

Seniors Over 60 Can Get Affordable Burial Insurance Coverage

Most insurance companies do not want to sell small coverage amounts of life insurance, especially small whole life insurance policies (burial insurance).

According to most statistics, an average, healthy, non-smoking person who doesn’t drink at all or who drinks moderately can expect to live a life span of over 80 years.

There is no long term profit potential or increased financial portfolio valuation for company stocks if the life insurance industry made a concentrated effort to sell long term life insurance products to people in their 60’s and 90’s.

It sounds very unfair. But life is very unfair and this is how the world works.

If you are 60 years of age or older, now is the time to seek the help of a good, independent life insurance agent, like one we can connect you to, and inquire about buying a comprehensive whole life insurance policy.

Now is the time to purchase a whole life insurance policy that work for you, serve your needs as you get older, gain cash value that you can borrow against and provide security for your family and estate needs if you passed away.

At 60 years of age or older, you will definitely qualify for more policy benefits and have more relative flexibility and control over your policy coverage and benefits than you would if you were older.

Statistically speaking, you may live for another 20 years. And if you live longer than that, well, whole life insurance provides coverage for the rest of your life.

The Benefits of Whole Life Insurance for Seniors Over 60

  • Whole life insurance policies are designed to provide coverage that lasts a lifetime.
  • If you own a whole life insurance package, then you will be covered until the day of your passing.
  • Your premium and death benefit rates usually remain level and do not change.
  • Whole life insurance is more expensive than term life, but comes with more benefits.
  • Whole life insurance can provide you with the peace of mind to know that you will posthumously take care of your family and estate matters.
  • Such policies build up cash value as time progresses.
  • If your life insurance company makes shrewd business investments, you could even find yourself receiving annual dividend payments.
  • You can take out loans against the cash value growth of your policy, after time.
  • Whole life insurance policies feature riders and contract flexibility options that can allow you to move money between accounts or modify policies to suit your custom needs.
  • If you have accrued enough cash value equivalency on your policy, then you will have the flexibility to do a lot of things.
  • If you pass away and your spouse has to move into a nursing home, the policy can be modified to permanently waive premium payment.

You should really know what it is that you want out of such a policy. It can be expensive and you may not get the most out of it if you don’t know what you want to get out of it.

It is a long term commitment. Remember: an insurance company sells you whole life insurance for your entire life and you pay premiums to keep it active. Whole life insurance is only considered

fully paid after the policyholder passes away. Only then are death benefits and preferred policy wishes formally initiated and paid out.

You buy term life insurance, which is a short-term life insurance product, for specific periods of coverage. If the policyholder passes away outside the specific window of policy coverage, then no death benefits are paid.

Read the fine print. Know what you are getting into. Now is not the time to waste time, money or potential. Work with an informed life insurance agent professional to get the whole life insurance coverage you need.

Term Life Insurance

Term life insurance is also an option over age 60 if you only forsee yourself needing coverage for a limited period of time OR if you need more coverage over the next few years than a burial life insurance policy can provide.

– Term life insurance is a temporary form of life insurance.
– Term life insurance is very affordable as you can buy coverage in increments.
– You can buy term life insurance outright because it only offers a policyholder a pre-determined and very specific term of policy coverage.
– You can buy 1 year, 3 years, 7 years or 30 years’ worth of term life insurance coverage.
– You won’t be able to build up cash equivalency value unless you bought multiple years of temporary coverage.
– Term life insurance comes with modification and change-enabling policy riders.
– You can upgrade your term life insurance into another form of life insurance, like whole life, Guaranteed Issued and so on.
– Your premium will rise in price and your entire policy will change in such a situation. You need to be aware of the changes and how they benefit or work against you.
– Term life is temporary. If you are concerned with accruing cash equivalency value or having more policy control with coverage flexibility, then it may be worth your time to invest in a more permanent form of life insurance.

Universal Life Insurance

  • Very similar to whole life insurance coverage. Universal life insurance is designed to provide coverage for the rest of your life.
  • Whole life insurance coverage protects you for your entire life. Universal life insurance may approximate a lifespan based on statistics or on what works best for the company.
  • If your Universal Life Insurance policy says that you are covered until age 100, then the policy coverage lifespan will be contract specific.
  • If you live to be 100 years old and a day, your policy coverage would lapse if it’s illustrated to go to age 100. Read the fine print and be very specific about what you want, the length and the express definition or clarification of your policy coverage lifespan.
  • Universal life insurance policies are very flexible and demand constant attention from the policyholder.
  • This kind of policy is very flexible and offer so many modification and rider options, that you have to be constantly aware of the policy’s performance as it were a stock option. Otherwise coverage can lapse or you will waste your policy’s maximum potential to work for you.
  • Your policy coverage can lapse very suddenly if payments are not kept current. It is advised that you buy a, “no-lapse,” variation of the policy. Or be very mindful about promptly paying your premium on time and regularly.
  • Your death benefit payments are not guaranteed to be paid out to your beneficiaries unless you buy a, “Guaranteed Universal Life Insurance,” policy package.

How to Proceed

If you are intimately informed about your policy’s viability and performance, then you can maximize what you can get out of the policy when you enter your 70’s and 80’s.

Technically, life insurance products are really geared towards younger people. But that doesn’t mean you can’t get life insurance past age 60 if you are informed, know what you want and understand the limitations of coverage for people over 60.

Time is the world’s most precious commodity. Gain peace of mind while securing the future of your family and estate by acquiring whole life insurance today.