What company provides a good low cost life insurance policy for older people?

Question

My father just retired, but he is stubborn and against getting a life insurance policy. I would like one to cover expenses he may leave behind and to take care of his wife, but he just doesn't see the need for some reason. His wife (my mother) is also the same way and they are too old fashioned and set in their ways to change their way of thinking. My parents are not rich and does not have a lot of money saved up. As a result, I may have to pay it myself even though I am supporting my own family on a single income. Obviously, the older one gets, the more expensive a life insurance policy becomes. Does anyone know of any good, reliable low cost life insurance companies out there? He doesn't have any major problems, but it would be best if there are some that doesn't require any health checks.

Answer 1

Life insurance with cash value don't pay out cash value when you die! They say its a good way to build savings! How is that so if you lose it all and it doesn't go to anyone when you die? People say you can borrow it. Why do I want to borrow my own money that I paid for? Cash value = scams!

Answer 2

You can get numerous quotes on the internet but many are teaser rates that no normal person will qualify for. However they will give you a ballpark figure. If your parents are healthy stay away from the "final expense" stuff celebrities sell on TV. They will not pay much the first year or two.

Call an agent you know, like the one who has yor HO or Auto policy. Just buy a 10 or 20 year term for a small amount , $25K or so and it will not be that expensive. However if they are not healthy and can not pass the physical then the TV stuff is better than nothing.

Answer 3

Shop around. Try a brokerage firm that knows the ins and outs of many life insurance companies. Seeing that they're older, they may have some health conditions that may cause their policies to be a bit more expensive. However, a brokerage will be able to know what companies to apply with that will look favorably on these conditions. Not all companies view medical conditions the same. Try this website.. http://www.accuquote.com/

Answer 4

Actually you need an "Insurable Interest" in another person in order to buy life insurance on that person. Parents and children have insurable interest in one another, as well as, siblings and spouses. There are plans that offer simplified life insurance with no medical exam for people age 78 and under you can apply for online. For instance, Globe Life Insurance which is rated "A+" Superior by AM Best offers simplified life insurance online.

Answer 5

One company that offers life insurance for older people is Globe Life.

Globe Life Insurance offers up to $30,000 of life insurance with no medical exam required for people age 78 and under.

Globe Life is rated "A+" (Superior) by A.M. Best for financial strength.

Globe Life has more than 2.5 million satisfied clients and offers a 30 day money-back guarantee on every policy.

To learn more, visit http://www.term-life-online.com/globe-life-insurance.html

I hope that helps! Best of luck to you.

Answer 6

I have found the source box to be a good resource for this type of insurance. There are a variety of ways to go about this so I suggest you research some of the companies for their offers.

Answer 7

Check out Colonial Life.

Answer 8

I recommend one to try this internet site where onel can compare rates from different companies: http://insurancetocompare.info/index.html?src=5YAGFFICIeIa1

RE :What company provides a good low cost life insurance policy for older people?
My father just retired, but he is stubborn and against getting a life insurance policy. I would like one to cover expenses he may leave behind and to take care of his wife, but he just doesn't see the need for some reason. His wife (my mother) is also the same way and they are too old fashioned and set in their ways to change their way of thinking. My parents are not rich and does not have a lot of money saved up. As a result, I may have to pay it myself even though I am supporting my own family on a single income. Obviously, the older one gets, the more expensive a life insurance policy becomes. Does anyone know of any good, reliable low cost life insurance companies out there? He doesn't have any major problems, but it would be best if there are some that doesn't require any health checks.
Follow 13 answers

Answer 9

Older people and low cost are quite oxymoronic. I'm sorry that your parents do not feel the need for life insurance planning, and the sad part is that there are a lot more like them in society.
All that aside....
How old are they? and do you have a particular amount you would like to spend?

If you go to this link.. you can plug in all of their information to get a ballpark figure. I would also suggest contacting an insurance agent as well.
http://nettrac.ipipeline.com/link.asp?cin=0114&npt=11&pid=2889

If you need more help, please feel free to email me.

Answer 10

hie Collie... if ur from US the u can mail me at [e-mail]
i can give u good quoted for yur mom dad which can save 50% of der premium and if u want to go for medical discount cards for them at just 50$ a month den u can write to me!