what would be appropriate life ins. for a sixty-seven yr old?

Jun 19, 2007

  1. arcangel
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    arcangel Guest

    My friend's father is 67 yr old and wants life insurance. He isn't qualify for term because he is over 65. I don't think Universial is right because he wouldn't accumulate much on the guaranteed interest because of his age also it is too expensive. First she wants a 250k for her father then I told her it will be around 1700/month. Then I ran the numbers for 100k, it was still expensive. Next I tried Premiere Whole Life for 100k, it was around 300/month. Is there a better life policy for 100k?
     
    arcangel, Jun 19, 2007
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  2. Sam
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    Sam Founder Administrator

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    Not that I am recommending term, but why can't he qualify for it?
     
    Sam, Jun 19, 2007
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  3. arcangel
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    arcangel Guest

    Farmers age limit on is 65. I can understand that he doesn't qualify for term because of his age...His wife is 62 and her 10 yr term/250k is around 133/month standard. I wanted to get a 20 yr term for her but the age limit is 60.
     
    arcangel, Jun 19, 2007
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  4. arcangel
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    arcangel Guest

    What do you recommend?
     
    arcangel, Jun 19, 2007
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  5. Sam
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    Sam Founder Administrator

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    Lincoln National, Genworth and West Coast will all do a 20 year term for a 67 year old.
     
    Sam, Jun 19, 2007
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  6. James
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    James Guru

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    Yea for 3,000 grand he can get a term policy with a 100 grand DB, yet for almost the same price he can get a WL policy of 100 grand, is there even a question of which to choose?
     
    James, Jun 20, 2007
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  7. Newby
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    Newby Guru

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    No one can point you towards the right policy without knowing what the need for the policy is.
     
    Newby, Jun 20, 2007
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  8. bluemarlin08
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    bluemarlin08 Guru

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    If he just wants DB, ULNL for 270 per month.
    James, what company will issue a WL 100,000 policy for 3000 per year?
     
  9. arnguy
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    Maybe a Final Expense policy!:D Just kidding.
     
    arnguy, Jun 20, 2007
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  10. James
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    Almost, I was going on the original figure thrown out by original poster that stated:
    Or about the same price you are quoting at $270 a month or $3240 annually.
     
    James, Jun 20, 2007
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