Term Life Insurance Articles
How Older People Can Still Find Low Term Life Insurance Quotes
2010-01-30
As people grow older, an existing term life insurance policy may expire and leave many people with no coverage at all. While there was a time that it was very difficult to get any term life policy, or even term life insurance quotes after the age of 50 or 60, times are beginning to change. It is now possible to get low term life insurance quotes, even if you are an older person.
The least expensive option for term life insurance for older people is usually through an employer. If you are not yet retired and still working at least part- time, check with your employer about any policies they may offer. Term life policies from your employer will almost always be dramatically less expensive than those that bought privately. You can expect to have certain limitations on the amount of insurance you can buy through your employer. However, when your employer does offer insurance coverage, it will usually be for 30 year terms, which is ideal. With employer sponsored insurance, you will also normally be able to avoid physical exams, although you may be asked to fill out a questionnaire regarding your general health and medical history.
If you are no longer employed and still want to have term life insurance, you do have options. Usually, the best way to start a search for insurance is to ask for a term life insurance quote from several different companies. This may be most easily done over the Internet in many cases because you can fill out some basic information without needing to make a lot of phone calls. Try to seek out a policy that does not require a physical exam and request a policy with a 20 or 30 year term, if possible. Sometimes you will find that you will be limited to a 10 year term policy, especially if you are in your 70s or beyond. As you receive your quotes, you will find that they are probably more reasonable than expected. Life expectancy is longer than ever these days, and insurance policy premiums have gone down over the last decade in accordance with this fact. Do some careful comparison after you have received at least three or more quotes.
When you are choosing the best term life policy, try to select one that gives you the longest possible term, the largest amount of coverage that you can afford, and one that will not require you to undergo physical exams. It is very possible to get the insurance coverage you need, even as you age.
