Is it too late to get life insurance at 56?

Posted on Jun 24, 2008 under Insurance Information |

19 Responses to “Is it too late to get life insurance at 56?”

  1. No. But it's going to be expensive.

    Do you have a group that provides insurance? Your employer, a professional organization, AARP, something else?

  2. angelfire19521 Says:

    It isn't too late, contact Alstate , AARP or any other insurance CO, they will ask you if you smoke and if you have any health probs, but even if you do have they can write a policy with a rider attached for appox one yr. Does this help?

  3. imgail1955 Says:

    no

  4. HONORARIUS Says:

    No…

  5. jademoncada Says:

    wall it is your chose if you want to or not but i wardened do it

  6. crumpledchocolatewrapper Says:

    Nope, but it's more expensive because the older you get, the higher is the risk. My mom sells insurance 75 year olds can still get insurance.

  7. Its not too late and if you don't have any coverage I would highly recommend that you speak to a professional to determine how much coverage you need - http://www.findlocalinsurance.com
    I would also ask about Long-Term Care insurance.

  8. Not too late, it will just cost you more than had you bought it several years ago.
    I got mine at 39 and am paying $105. To start today I may pay $250

  9. Frank Castle Says:

    No

  10. Keith Beacham Says:

    No it is not too late. Sit down with an agent or two and learn what your options are. Make an informed choice.

  11. Financial Answer Guy Says:

    No, many companies will offer insurance up to age 80 and even above. In relative terms it becomes more expensive the older you get, of course. Depending on your circumstances, needs, goals and cash flow a financial planner can help you put together the right insurance portfolio for you. Try the Planner Search feature on the Financial Planning Association's website, http://www.fpanet.org

    Avoid anyone who:

    Tells you to only buy term insurance.
    Tells you to never buy term insurance.
    Uses a "multiple of salary" approach to determine your need.

    Be very skeptical of all "career agents", those that work for a particular insurance company. Although they often do have access to several carriers, the company they work for may tie incentives and benefits to a quota of sales of proprietary products. This influences these agents to sell their own company's products over others.

  12. LifeInsuranceAgent Says:

    Age 56 is not a problem for life insurance. Each company's underwriting is different so shop around! The rates are based on your health, age, amount of coverage, and duration. About 5 minutes is all it should take to get an accurate quote. Good luck.

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