Can Older People Be Eligible For 30 Year Term Life Insurance Protection?

Age should not discourage you in acquiring protection. Even if you are old, you and your investments must be properly safeguarded. The easiest way to do that is through a life insurance policy. This type of contract provides guaranteed monetary benefits if the policyholder dies while under coverage.

And those sums are pretty substantial, helping the remaining family members to afford a decent living. Although not impossible, senior life insurance is more difficult to obtain than the usual policy destined for common, younger persons. Still, older people can qualify for 30 year term life insurance.

Term life insurance stays active for a predetermined period time, period selected by the policyholder. This policy pays the benefits only if the insured dies within coverage period. Surviving past the coverage period will not bring any death benefit, but the company may return the premiums and subtract some money for its services during the coverage period. Thus, you will get money, but not as much as the death benefits.

In order to be eligible for a term life insurance as a senior, you need to meet some requirements. First of all, you should not apply if you are very old. Asking for a 30 years term life insurance policy when you are 70 years old is very unlikely to be successful. You can ask for a 10 or maybe 15, but not that much.

Why? Because 100 years old is way over average human life expectancy. And insurance firms like statistics. Or you can be accepted and charged with astronomical premiums. Health is the second criterion of selection. Being old and very sick is really the worst combo for any life insurance applicant. So, if you are not very old and you are not very ill, do not hesitate and search for life insurance.

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