#50 #year #term #life #insurance
Life Insurance for 50 Year Old
Life Insurance for 50 Year Old
Most folks who have reached 50 did have a life insurance policy at some point in their lives. It may have been a term policy that expired, a whole life policy that lapsed, or even group life from a job. The problem for many people who have hit half a century is that these older policies have already expired or been terminated, but many 50-year-old men and women realize that they have not really outlived their use for life insurance.
We can supply life insurance quotes over 50 and even for people over 80. While the type and amount of coverage might vary with age, there is a policy for almost everybody. Because life expectancy has increased, many applicants will probably be pleasantly surprised by their quotes.
Why Get Life Insurance Quotes Over 50?
Younger adults may assume that they won t need life insurance when they get older because the house will already be paid off and kids will be grown and out of the house. Sadly, those plans don t always work out. A job loss, illness, or other financial problem may mean that older folks are not as far ahead financially as they had hoped to be. Thus, many middle-aged people are not free of obligations or even close to getting ready to retire.
Consider some example monthly term life insurance quotes over 50 for a 50-year-old man in Florida who wants coverage for 20 additional years:
Note: These monthly rates are only samples, and the actual prices will depend upon city, health, and other underwriting considerations.
Term life insurance quotes over 50 will be cheapest, but some older people consider buying whole life for a variety of reasons. The most common reason may be because insurers sell modest whole life policies without requiring a lot of health underwriting. However, another important consideration may be the fact that whole life never expires after a certain term, but it can continue to provide coverage for a lifetime.
Another advantage of whole life is that it can grow a cash value over time. This money can be borrowed against or cashed in while the insured person is still alive. In addition, some investors offer to buy cash value life insurance policies from seniors for some percentage of the death benefit, but they will never offer to buy term. The amount that investors offer may differ, but it is typically much more than the cash value.
Compare Life Insurance Quotes Over 50
There isn t one best kind of policy for everybody, and the right choice depends upon the amount of coverage desired, the general health and age of the applicant, and the amount budgeted to spend for premiums. Over 50 life insurance can be affordable if you know where to look.
Some things cannot get controlled, but it is fairly easy to find the cheapest rates. It only takes a minute to fill out our online form for competitive rate quotes from top insurers in your local area. After you compare rates, you are even free to start applying on the Internet.