Life Insurance For 70 Year Old Man

It is likely that you may only need the term for the next 10 15 years but if you needed it longer the term would run out and your rate would increase tremendously upon your attempts to get back in with a term life policy.

Life insurance for 70 year old man.

For most individuals over age 70 a lifetime guaranteed policy like guaranteed universal life insurance is the best option. How much does life insurance for people over 70 cost. An average 70 year old male would pay just 98 per month for 25 000 in final expense coverage. Life insurance rates for a male 70 years old non smoker two overviews below show the minimal life insurance premiums for a policy holder of term 10 and term 20 insurance products.

Guaranteed universal life insurance a type of permanent coverage is essentially a term policy that covers you for the rest of your life but without all the cash value build up that you get with a whole life policy. Family members will receive the amount stated under the coverage. That cost drops to roughly 50 to 100 a month for a final expense plan. When you obtain the term life insurance policy at 70 years old you will inevitably pay a premium that will increase dramatically over the next 10 years.

Pricing is on the lower end of the scale especially for older applicants.