What insurance companies offer a Term Insurance Policy to a female at age 81?
Im trying to help my aunt find a affordable Term Life Policy for my grandma who is now 81 she is in good health.
Im trying to help my aunt find a affordable Term Life Policy for my grandma who is now 81 she is in good health.
February 17th, 2009 at 12:45 PM
perhaps
http://www.simplyinsurancequotes.com/life-insurance-quote.php
but it might be dearer than it is worth. Still, getting quoted is free and this site are teh best I know, they'll compare 12 insurers in the one go.
February 17th, 2009 at 12:45 PM
none at her age
February 17th, 2009 at 12:45 PM
You can't buy ANY term at 81, because you've already lived past your expected life expectancy.
There are a couple of companies that will give you a small whole life policy, guaranteed issue - but she has to live - and pay in - at least two years before it pays out. With the premiums at her age, you're probably better off just putting it in the bank, as once you've paid for more than three years, you've paid in more than it's going to pay out - in other words, you're betting she'll die not less than two years, and not more than three years, from now.
You're probably looking at close to $80 a month, for a $5,000 policy, at her age. But if you're looking for the same rates she'd pay if she were 30, well, then YOU have to buy YOUR insurance right now, when you're 30, to lock in those 30 year old rates.
Life insurance is all about odds - and the older you get, the shorter the odds.
Oh, and the NAME of the companies that do that kind of policy, are Mutual of Omaha, and Globe Life. But it's a sucker bet - good for people bad at math. Run the numbers, and you'll see why.
February 17th, 2009 at 12:45 PM
There ARE many companies that do. Look at the term pricing tool on my site and you'll see them.