When trying to obtain life insurance over 60, it sometimes becomes very hard to qualify. There are normally applications and sometimes even physicals that have to be taken in order to qualify. If a person has illnesses or any type of diseases such as a heart disease or cancer they are very often turned down. If accepted they will have to pay extremely high premiums just to get insured. This is very discouraging to many seniors over the age of 60. There are life insurance companies that will not insure someone of that age no matter how high of premiums that they are willing to pay.cancer life insurance
Is There Another Choice?
For those over 60 that are struggling to get life insurance coverage, there is something that is called life assurance and can be gotten without your medical information. There is a simple form that will need your signature and you are then accepted. This can be a good deal for an older person with health issues that has exhausted all of their avenues and been turned down. It is a whole life assurance and will pay as long as you are still paying the premiums. When you reach the age of 90 it is free for you from then on out.
- Whole life Assurance
- Impaired or high risk life assurance
- Regular term life assurance
Which To Choose
Life insurance over 50 can still be sometimes difficult to obtain. These three options might help to give someone a chance to have some type of life assurance when most everything else has failed. Your premiums will be higher than that of a life insurance policy but many will have a chance of getting covered. There is the Whole life Assurance you will have to fill out an application and answer questions about your health. This coverage will last as long as your payments are being made but will be more expensive than a term life assurance. The normal term life assurance will normally be cheaper than the over 60s and will cover you until you reach the age of 90. Then there is the high risk level of life assurance. This still should be cheaper than the over 60 assurance. You will still have to answer health questions, but the underwriting is not as strict.
Even though everyone wants to have life insurance coverage of some type so that their funeral expenses will at least be covered and not leaving their family to have to worry about paying for it, it can sometimes be impossible for some people to obtain. There are certain illnesses that many insurance companies will turn the applicant down instantly no matter how much of a premium they are will to pay. That is why the assurance programs seem to offer a quality choice for most seniors that have been turned down by other companies. One of the areas that has seemed to be a struggle for some would be trying to obtain anxiety and depression life insurance.