Life Insurance for over 75?

[TonyC]

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

How high can the coverage go?


~Tony

 

[thewold]

Most policies I've seen you can write up to age 85. The cost of insurance will be high though.

 

[lifesettlementadvisor]

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.

 

[LGilmore]

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

Yes. But it will cost and the insured has to be very healthy.

 

[lifesettlementadvisor]

"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.

 

[jarmour]

We just received a standard offer on an 87 year old...so it pretty much just depends on the situation

 

[LGilmore]

time or money. Ya haven't got alot of time, send money. funny how that works with every financial product including insurance.

 

[lifesettlementadvisor]

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.

 

[Survivor]

AIG American General has issue ages of up to 85.

If the person is in Georgia, send them my way.

 

[James]

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.

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.