How much money would be in a typical paid-up health insurance policy if a person dies over the age of 100?

Question

Just curious. Thanks!

It is LIFE INSURANCE...sorry for the error.

Answer 1

Most older policies were designed to endow at age 100 even if it was a paid up policy. That means it would pay the face amount to the insured if they were still living at age 100. However, because we are living longer, some of the newer policies are designed to go beyond age 100. Genereally speaking, if you have a paid up policy and die, it will pay the beneficiary the face amount. Only the insured and company can really answer your question.

Answer 2

A person that lives to 100 should have cashed out the life insurance policy long ago.

Life insurance as an investment vehicle is a bad buy.

It should only be used to provide income to the policyholder's loved ones in the untimely event that they die while they are still expected to be the primary income earner.

You should buy as much term insurance as you can afford for as long as you are expected to be the primary breadwinner.

As you get older you can buy less term insurance because the necessary income for paying off a house, college education, etc. goes down because you pay for it out of current income.

If your house is paid off and your kids are grown, you can just buy enough to leave your surviving spouse with enough for final expenses.

Why spend the extra money on universal life insurance and only have that money available to your spouse after you die when they can't enjoy it.

Better, just buy term insurance. Use the difference in price to invest ON YOUR OWN. You'll get a much better return on your investment and you get to enjoy a higher current standard of living.

The ONLY people you will ever see endorsing permanent life insurance are those who make commissions by selling it.

An indepedent, objective consumer advisor will tell you to only buy term insurance and use the savings in other ways.

Answer 3

A health Insurance policy will not pay you anything if you die. A life insurance policy will pay the beneficiaries after the death of someone but it would depend on how much of an insurance policy they had.