Term life insurance and endowment insurance ?
Do you know any insurance company which sells a 20-year Term Life Insurance or 20-year Endowment Insurance to a person at age 60?
I ask it because the age of buyer (60 and more) may cause the insurance to be expensive.
compare a 20 years term insurance when a person age 20 buy it and when a 60-year-old one buy it !!!
What is the limitation of selling term insurance for an insurance company regarding age of the insured???
February 23rd, 2009 at 6:00 AM
Term insurance was never meant to be used as 'final expense' insurance. It was meant to cover debts, such as mortgages, loans, in other words things that can be paid off.
The odds of someone passing away while being covered by term is in the insurance companies favor, thus why it is cheaper than whole life.
http://www.wslife.com will provide term for people age 60, if that is what you really want. Before you purchase it though, I would ask that you go to this link, http://www.wslife.com/education/financialTools/survivor/default.asp , and ensure that you are covering up all of the needs you want protection for.
Are you looking for coverage for debt protection, final expenses, or to leave a legacy?
If you have any other specific questions, feel free to e-mail me at k9ohio@verizon.net.
February 23rd, 2009 at 6:00 AM
You can go to some classfication website to search more useful information.
http://www.bilbuyers.com/buy.php?cid=56&Life-Insurance&BuyLifeInsurance
February 23rd, 2009 at 6:00 AM
If I can't find it, I can create something that looks similar. Why do you ask?
February 23rd, 2009 at 6:00 AM
Yes, there are lots of companies that will provide a 20 year term. Primerica Financial Services only markets and sells Term coverage. Check AM Best for the company rating and call your local Primerica office for questions and assistance.