Just because you remember Elvis, dial phones, and life without laptops, does not mean that you have outgrown your need for life insurance. In fact, a policy can be part of financial planning for people age 50, 65, or even over 70! If you want to plan for an estate transfer, business continuity, or just provide cash for your heirs to pay for your funeral, a life insurance policy can be an affordable and sensible way to do it.
Americans can expect to live longer and healthier lives than ever before, and in response, top insurers have actually dropped their rates. Even if you have coverage, experts advise consumers to evaluate their rates and plans every few years. Your own life has changed in the last decade, and so did the plans and policies on the market! Many people can buy term life at age 75, and we have even seen final expense life sold to people in their 80's.
You may be surprised at the number of companies offering special rates on term life insurance for people over 50. It is a common misconception that insurance companies do not like to insure people in their fifties and older. This is not true. With people's lifespan increasing every year, insurance companies are more than happy to cover those 50+