Even in your 50s, obtaining life insurance is still very possible. It gets more expensive the longer you wait though, so we recommend getting insured now. In our archives, we have a plethora of information for anyone looking to obtain life insurance after 50.
We suggest visiting the page that corresponds with your age:
Life Insurance Over 50 – An overview of securing life insurance if you’re over the age of 50.
Life Insurance for 50 Year Olds – Life insurance in your 50s can still be affordable, but there are a few things you should know first. Find out what to watch out for in this article.
Life Insurance for 51 Year Olds – Want to know how much you should be paying for life insurance at 51? We’ve included tables here to help you figure out your rates.
Life Insurance for 52 Year Olds – Learn about how to get the best rates on life insurance at age 52.
Life Insurance for 53 Year Olds – You still have many options at age 53 to secure a great rate on life insurance.
Life Insurance for 54 Year Olds – There’s never been a better time to get life insurance than at age 54, don’t wait any longer.
Life Insurance for 55 Year Olds – You’re getting closer to 60 years old, but life insurance at a great rate is still possible. Find out how here.
Life Insurance for 56 Year Olds – Read about the best ways to keep life insurance rates low, even at the age of 56.
Life Insurance for 57 Year Olds – The older you are when you apply for life insurance, the more expensive it will be. Read about how to keep life insurance rates low at 57 years old.
Life Insurance for 58 Year Olds – 58 is definitely not too late to apply for life insurance, but you shouldn’t put it off too much longer.
Life Insurance for 59 Year Olds – You’re almost 60, but don’t worry, life insurance is still possible. There isn’t a huge jump just because you’ve reached 60, but the longer you wait, the more expensive life insurance will be. Learn why you should apply for life insurance today.
When people in their 50s start to look into obtaining life insurance, they often feel like they don’t have many options. They expect that premiums will be through the roof, and there will be no affordable policies for them. In reality, it is a very simple process for people in their to obtain coverage, and more important, coverage they can actually pay for.
When you’re in your 50s, you’re not even a senior yet, and even seniors are obtaining new life insurance policies each and every day. The situation for you to be able to obtain life insurance long before retirement is not only possible, it is a very good financial investment.
While it’s true, you would have received a better premium if you had applied in your 40s, there’s nothing you can do about that now. Your best plan of action is to apply for life insurance as soon as possible. The longer you wait, the more expensive premiums for term life insurance are going to get. Also, as people get older, their health tends to decline. Not only does life insurance become more expensive as you get older, it gets more expensive as your health declines as well. This makes it a financially sound decision to get yourself insured as soon as possible.
Of course, what is more important than your age is your health. This means that a person in their 20s could receive a much higher premium than a person in their 50s, depending on how their health is. Any of the companies you apply with will want you to undergo a medical exam and an underwriting process. This will help them determine how much risk you present to the company and can also help them calculate the rates they can provide you with.
Most of your health problems (or lack thereof) will be uncovered in the medical exam. Then you will meet with an underwriter who will ask you many more detailed questions to try to get to the bottom of your health issues. Sometimes, a condition won’t be seen so negatively if you can prove that it doesn’t greatly affect your health. The trouble is, most people don’t know the correct way to answer the questions to their underwriter. There are ways you can answer their questions, without lying, that won’t cause your rates to go higher than your mortgage.
If you don’t know how to answer these questions, then we recommend getting in touch with one of our agents. Instead of letting you go straight to the underwriters, we will go through all of the underwriter’s questions with you first and help you to answer them correctly. Then we take your information and questions that have been answered in a way which won’t incriminate you, and shop them around to many different insurance companies. The fact that your answers have been approved by our agents means that you don’t run the risk of receiving high premiums in return.
Not only do we save you time by contacting all the insurance companies for you, but we save you money by getting you lower premiums than you could get applying on your own.
Before you go any further though, we highly recommend you have a look through our archives below. There is a lot of great information for anyone in their 50s who is considering applying for term life insurance.
We often have 56 year olds in the market for life insurance who think that it is way out of their price range. Everyone’s price range is different, but most of the time 56 year olds are surprised at how inexpensive term life insurance really is. Before we move on – compare life insurance quotes […]
Life Insurance over 50 years old can be expensive, but it doesn’t have to be if you follow our advice. Take 5 minutes to read this article and learn how to get the cheapest life insurance for over 50 and a life insurance strategy many are using. First lets clarify the misconception that there’s a […]