Is There an Upper Age Limit to Buying Life Insurance?
Is There an Upper Age Limit to Buying Life Insurance?
It has been stated repeatedly. The best time to buy life insurance is when you are young and healthy. The reason, of course, is that this is when life insurance is the least expensive. Buying whole life or permanent insurance when you are younger also has the added benefit of accumulating cash value for a longer period of time. Is there a time, however, when you may become too old to qualify to buy life insurance?
The first thing to understand is that while there are general regulations for the life insurance industry, every life insurance company has its own underwriting policies. This means you may find companies willing to insure you no matter what your age is, based on certain restrictions.
As a general rule of thumb, however, most life insurance companies will stop accepting applications for life insurance for those who have reached 75 or 80 years of age. Some companies have much lower age restrictions.
At some age, especially after 80, the limits, restrictions, and premiums will make life insurance a decreasingly appealing decision.
If you are in your forties, fifties, or even sixties, you can find life insurance products to cover final expenses and more. That is, if you are in reasonable health and your height and weight are proportionate.
The longer you wait, however, the more your options will be limited and the more expensive coverage may be. Should you have high blood pressure, diabetes, or other health problems, coverage may become more challenging to find. Let us help.
As independent life insurance agents, we represent a network of life insurance companies who specialize in offering a variety of life insurance products. Some of these companies specialize in insuring older clients. Put our team and experience to work for you.
Contact us and let’s discuss your situation and a budget you can feel comfortable with. Getting started is just that simple. We will work on options for you, and the final decision is always yours. We would appreciate the opportunity to serve you!
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Insurance Blogs
Embracing Tomorrow: The Practical Power of Planning for Life’s Only Certainty
Face the future with confidence: Understand how planning for life’s only certainty with life insurance can provide lasting security.
Navigating the Grandparenting Journey: Understanding Today’s Families
Grandparenting today: Learn key shifts in family dynamics to build stronger connections with your children and grandchildren.
Finding Your Financial Foundation: Understanding the Minimum Life Insurance You Need
What’s the minimum life insurance you really need? Learn about covering final expenses, debts, and providing immediate financial relief for your family.
Declutter Your Life: Beyond the Physical to a More Streamlined Existence
Tired of clutter? Discover actionable tips to declutter not just your belongings, but also your finances and digital life for a more streamlined and stress-free life.
Your Life Insurance Journey: Start Small, Dream Big, Build Security
Don’t wait for the perfect policy. Discover how starting small with life insurance is the key to building long-term financial security for your family.
Small Steps, Big Impact: Achieving a Healthier Lifestyle Without Radical Overhaul
Forget extreme diets and intense workouts. Learn how simple, everyday choices can add up to a healthier lifestyle.
Weaving Family History: The Power and Importance of a Family Timeline
More than just dates: Crafting a family timeline to connect generations and preserve memories.
Family Fitness Adventures for Lasting Memories
Ditch the couch: Active family fun for a healthier, happier life.
Beyond Upfront Payments: Pre-Planning Your Final Arrangements with Peace of Mind
Pre-planning your farewell: Affordable options and peace of mind.
Life Insurance: Investment or Protection? Decoding Cash Value Policies
Is life insurance an investment? Understanding cash value policies.