Term Life for Seniors

Discussion in 'Life Insurance Forum' started by Surancedawg, Aug 3, 2017.

  1. Surancedawg
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    Surancedawg Well-Known Member

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    I am running into a lot of folks over 65 with less-than-perfect health histories who really want term life coverage bad. Often, its because they've recently taken on a new mortgage and want income protection.

    Have a couple of prospects 69+ who each have had pacemakers implanted over a decade ago. Any Term carriers who would be willing to offer coverage for folks like that? Thanks in advance.
     
  2. WinoBlues
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    WinoBlues Well-Known Member

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    gul


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    A few companies will go 70ish on 20 year term. Longer and older than that and you will want to look at dialing down GUL.



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  3. Surancedawg
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    Surancedawg Well-Known Member

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    Thanks Wino. I wonder who these companies are that will go 20-yr on 70ish folks:)
     
  4. NewbieNewbie
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    NewbieNewbie Well-Known Member

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    Trans. Banner. American General.
     
  5. VolAgent
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    VolAgent Well-Known Member

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    There is another part to this puzzle.

    Are the comfortable with an insurance premium that might rival their mortgage payment? Even standard non-tobacco rates will be substantial at those ages, if there are any table ratings it will only get worse.

    The few I talked to in this situation, they lost interest very quickly once they found out what the premium would be.
     
  6. eersfan
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    eersfan Well-Known Member

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    Alex Trebek would say "Colonial Penn" :)
     

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