No Lapse UL to Age 100?

[Robert Barney]

Can't understand why someone would want one. The following article underlines a big reason why I think buying such a product is a big gamble:

U.S. Median Age Hits All-Time High of 38; Record 86,248 Are 100 or Older

 

[pfg1]

So buy it to 105 or 110 or longer.

Even if it was only 100...its still better than to just 85 or 88 like when moist term products run out.

 

[yankee466]

Can't understand why someone would want one. The following article underlines a big reason why I think buying such a product is a big gamble:

U.S. Median Age Hits All-Time High of 38; Record 86,248 Are 100 or Older

Possibly they buy what they can afford....and maybe their personal family history would count for something

 

[rousemark]

Can't understand why someone would want one. The following article underlines a big reason why I think buying such a product is a big gamble:

U.S. Median Age Hits All-Time High of 38; Record 86,248 Are 100 or Older

So 86K made it to 100... How many did not?

 

[GreenSky]

So 86K made it to 100... How many did not?

All the rest.

Rick

 

[rousemark]

All the rest.

Rick

 

[WinoBlues]

Can't understand why someone would want one. The following article underlines a big reason why I think buying such a product is a big gamble:

U.S. Median Age Hits All-Time High of 38; Record 86,248 Are 100 or Older

326,000,000 total population
- 86,000 100+ yr olds
---------------------


2/3 of the 100+ yr olds are female. Probably widowed a couple of times. If married the husband is most likely 105 years old plus. What you guess their insurance need is?

 

[rousemark]

Final Expenses

 

[Robert Barney]

Silly me. I always thought insurance was used to reduce risk, not take it.

 

[WinoBlues]

That is why I ask for an opinion 0n the risk / amount of insurance you felt those 100 yr olds would need. At age 100 plus, with a few exceptions, I would guess these widows would not have large insurance needs. IMohsoHO.

Now, I do not disagree with what I think you are advocating. Permanent permanent life insurance.

Another question on those 100 + year olds. Born 1918 or earlier. Let's assume they bought their Permanent (to age 100)Life between ages 35 - 55. Outside of Participating Whole Life, what were the permanent life insurance options? Term would have mostly been ART.