Are 20 Year Term Palms For Over 65 Available?

[snowman51]

Hi everyone, I am an ex-life insurance agent myself and have been quoted a 10 year fixed term face value UL policy as a 20 year term initially. The agent has made several significant mistakes throughout the 17 years I have had life insurance through his brokerage and I find that I now need to make some changes.

I find that I am still in need of life insurance still even though my current term policy expires in 3 years. I was quoted a UL policy with the cash value stripped out of it so that it has a level $250,000 face value for 10 years. Then the face value gradually declines after year 10 while the premium remains level for about 38 years.

I am a 65 year old Standard Class Non-Smoker. Does anyone know if there are any 20 year level term plans either as pure term or as modified UL policies available in today's market?

Thanks in advance,
snowman51

 

[shooter]

Yes sir there are a boat load of companies that
have a 20 year term plan for a 65 male.
Regular non-smoker around $390 per month
Preferred about $280 give or take depending on ones health
and financial situation.

Shooter

 

[pfg1]

Agree, there are plenty of options for 20yr term. Not sure why they are quoting you that product.
If you want to keep your premium level and provide covg past the 20yr mark, you could look at a GUL. Effectively, its permanent term. What state are you in?