If you’re over the age of 60 you may have realized how hard it can be to get life insurance. In fact at age 60 and above rates can tend to go up drasitcly and if you have a health condition this only adds more fuel to the fire. So in this article I’m going to show you 3 simple places you can try to get a life insurance policy.
The first place I suggest looking into is a traditinal life insurance company, such as Prudential, or Western Reserve Life. These companies have some great policies but don’t settle for just any type of policy, go with term life insurance only.
The reason for this is because term will be much cheaper versus a whole life or universal life policy. With term you only pay for the cost of insurance while whole life also carries cash value fees that drives the cost up.
Next, consider going with the AARP. The American Association of Retired People is affiliated with New York Life and carries several different types of life insurance policies that are specialy designed for older people.
In fact to qualify all you have to do is complete a three question application, and you don’t have to do any medical test, or blood draws. On top of that the AARP also offers a guaranteed acceptance life insurance policy that can give you up to $15,000 worth of coverage no matter you health conditon.
Finally, the last thing you should do is consider a high risk life insurance policy. When it comes to life insurance some companies specialize in high risk situations, such as those with heart problems, cancer, diabetes, and even depression.
However, to qualify for a policy you will want to keep your policy at a $100,000 in coverage or less, and also consider a high risk broker over one specific company. With a broker they will be able to shop the market and find the best deal for you. High risk life insurance companies can get a policy but the cost may be higher with these types of programs.