Life Insurance -- Is a 78 year old woman too old to get life insurance? If not, who are the better providers?

Question

I've made preliminary inquiries to get life insurance for a 78 year-old female, however, I get the standard response of "no" because of her age and the fact that she has been hospitalized in the last year and has pre-existing conditions (COPD, high blood pressure, arhythmia). My sense, however, is that there may be life insurance companies out there with more accomodating terms for senior citizens. If you know of any such companies, or are experienced enough in life insurance to give a definitive "no- it's not possible" response, please let me know. What are our alternatives, if any?

Answer 1

I do know that globe life offers coverage for people age 78 and under. There are some health questions to be answered, but they usually do not require a medical exam.

There is up to $30,000 of coverage available. Globe Life has been around since 1951 and has more than 2.5 million policyholders. They are rated "A+" Superior by A.M. Best. You can learn more and request quotes at http://www.term-life-online.com/globe-life-insurance.html

The only other option I can think of is getting some quotes online from a quote provider who has access to a network of insurers, like efinancial at https://www.efinancial.com/smartquoteefc.aspx?source=389-707

I hope that helps! Best of luck to you and the 78 year-old female.

Answer 2

Very simply anybody can get life insurance. The question is what amount of coverage will be available and at what cost.

You can get life insurance policies that have few or no health questions but the cost for a 78 year old will be very high and the amount of coverage available will be limited (usually a maximum of $50,000) and will be the type of policy that has a graduated benefit. That means if the insured dies before the policy has been in effect for less than 2 years the death benefit will be a specified fraction of the death benefit you purchased.

Were not talking $85. per month but instead looking at an annual premium that is well into the 4 figure range depending upon the amount of coverage purchased.

There are not that many companies that offer this high risk insurance so you want to consult with an independent agent that has access to many companies.

Answer 3

I suggest one to try this internet site where you can get rates from different companies: http://INSURE-HELP.COM/index.html?src=3YArjfbcAM03

RE :Life Insurance -- Is a 78 year old woman too old to get life insurance? If not, who are the better providers?
I've made preliminary inquiries to get life insurance for a 78 year-old female, however, I get the standard response of "no" because of her age and the fact that she has been hospitalized in the last year and has pre-existing conditions (COPD, high blood pressure, arhythmia). My sense, however, is that there may be life insurance companies out there with more accomodating terms for senior citizens. If you know of any such companies, or are experienced enough in life insurance to give a definitive "no- it's not possible" response, please let me know. What are our alternatives, if any?
1 following 13 answers

Answer 4

No Its not. These days the 70's years old are like 60's. With the new improvements in the Medicine people are living longer and healthier.
I have been insuring seniors up to 89 years old. They get a small policy called Final Expense Insurance that will cover final expenses such as funeral and other small debts.
I work with many companies and sure can get the best rate. If you want to call me my toll free number is 1-888-646-8208 or 813-964-7100. Also visit my website for a quick quote so you will have an ide about costs.

http://www.mintcofinancial.com/quotes/quick-senior-life-insurance-quote/

Answer 5

no- it's not impossible. The combination of COPD and arrhythmia can certainly be problematic (I'm assuming the hypertension is well controlled by meds), but under the right circumstances, I could see this case going through. It ultimately depends on her total health history, not just her diagnoses.

A good broker will need to know:
when and how she was diagnosed with COPD, what the results of her last pulmonary function test were, what type of arrhythmia, how long ago, how it was discovered, how frequently she sees her cardiologist, and the list goes on....

To clarify, I'm referring only to fully underwritten life policies with face amounts over $100000 which do not have a graded benefit. If you are looking for an amount less than $100000, the underwriting is not overly competitive, so perhaps a guarantee-issue policy would be better.

Answer 6

Sure there are. You just aren't going to get ODDS. If you want $10,000 of coverage, you're going to have to pay damn close to $10,000.

If she's terminal right now, and you want to avoid estate taxes by purchasing an insurance policy, you can spend $110,000 to buy a $100,000 life insurance policy. That's only 10% cost, instead of 50%, which is what Uncle Sam would take.

You can find policies like these through a high risk broker. Just tell them you know it's going to cost close to face value, and you're willing to pay the price.

Now, if you're looking for $100,000 policy, and only want to pay $100 a month, it's not going to happen. She can't get rates like she was 30 and healthy. If you want the POLICY, you can get it.

But depending on what the GOAL of the life insurance is, there might be a cheaper way to meet the goal, than life insurance.

Answer 7

Are she looking at life insurance as a as a tool to pass on wealth to her heirs tax-free? If so, she might consider a single-premium life insurance policy. As the name suggests, the premium is paid upfront in a lump sum. The policy covers you until death. In most states, the death benefit is exempt from estate taxes. Some single-premium policies can include a provision to pay for certain kinds of medical care, such as nursing home care or hospice care. In this sense, the policy functions as a kind of long term care insurance. Any money remaining in the death benefit at the time of the policyholder’s death is passed on to the beneficiary.

Answer 8

I'm sure that if you look hard enough, you will find a company that will insure you. However, the premium for that coverage will be so high that you probably won't want it. The combination of risk factors (older age, adverse medical conditions, etc.) are sure to put a high rate-up factor, resulting in an unaffordable premium. In my estimation, you would be better off if you put your money into a savings account.

Answer 9

it somewhat is barely my opinion, as a veteran existence coverage broking provider, yet NO, i do no longer think of it somewhat is achievable to get 'sturdy' (or what would be seen 'sturdy') existence coverage on a seventy two year previous lady. What human beings do no longer comprehend while they ask questions like it somewhat is that existence coverage firms are FOR-earnings companies. How would desire to a earnings probably be made on somebody who's only approximately on the tip of their existence? the only way would be to fee an outrageously severe top classification. severe colleges ought to coach courses on existence coverage, through fact ideally, human beings ought to purchase them of their 20's, or while they turn 18 and are waiting to legally sign a settlement. Any employer that tells you that a 'sturdy' coverage could be bought by using a seventy two year previous lady is misrepresenting the fact. greater beneficial to start putting away some money, and plan on cremation (greater fee-effective than burial.) i comprehend it somewhat is in all possibility no longer the respond you needed, yet i'm being honest.

Answer 10

You need to work with a company that offers Burial Life Insurance policy. The max issue age is normaly 80. there are few sites, the one I would recommend is http://www.reduce.com