Life Insurance for over 75?

Oct 12, 2007

  1. TonyC
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    Is there decent life insurance "coverage" available to someone age 76?

    How high can the coverage go?


    ~Tony
     
    TonyC, Oct 12, 2007
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  2. thewold
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    Most policies I've seen you can write up to age 85. The cost of insurance will be high though.
     
    thewold, Oct 14, 2007
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  3. lifesettlementadvisor
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    Agents I work with never have problems writing policies for seniors. Most of them do a life settlement on the active policy and then write a new policy for their client that better suites their current needs. These policy holders all have LE's of less than 20 years.
     
  4. LGilmore
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    LGilmore Guru

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    "Is there decent life insurance "coverage" available to someone age 76?"

    Yes. But it will cost and the insured has to be very healthy.
     
    LGilmore, Oct 15, 2007
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  5. lifesettlementadvisor
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    "Very Healthy" is a very relative term. Very healthy to a 85yr old and a 65 yr old are two completely different things. I know of a producer that just wrote a policy on a 78 yr old woman with a LE of 10 years. The premiums are high, but that is expected when buying a large policy at that age.
     
  6. jarmour
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    We just received a standard offer on an 87 year old...so it pretty much just depends on the situation
     
    jarmour, Oct 15, 2007
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  7. LGilmore
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    time or money. Ya haven't got alot of time, send money. funny how that works with every financial product including insurance.
     
    LGilmore, Oct 15, 2007
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  8. lifesettlementadvisor
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    jarmour an 87 yr old is a great age for a life settlement. You should be able to get at least 30% of face on a policy of that age, but this thread is talking about writing life not reselling unwanted policies.
     
  9. Survivor
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    AIG American General has issue ages of up to 85.

    If the person is in Georgia, send them my way. :yes:
     
    Survivor, Oct 15, 2007
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  10. James
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    30% is a great return? If you run the numbers, someone is making money and it isn't the 87 year old. It's a ripoff.
     
    James, Oct 16, 2007
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