Life insurance for people over 65 … do they exist?

Life insurance for people over 65

Although companies may refuse to insure a person of a certain age, insurance for the elderly does exist. Let’s see how long you can do life insurance.

A large part of insurance, including health insurance or life insurance, is closely linked to the age of the insured person , in such a way that the older this person is, the higher the premium they have to pay for your policy. For this reason, life insurance for young people is cheaper than life insurance for those over 60.

In the case of life insurance, these are designed to ensure the future of our loved ones in the event of our death or disability due to an accident or illness . That is why young families are the ones who usually access this type of policy, seeking future peace of mind for their loved ones in the face of any dire eventuality.

Finding health insurance for the elderly is not impossible

On the other hand, it is assumed that people who are close to retirement do not need these benefits, since their children would already be emancipated, and their future pension or pension plan will be in charge of ensuring the desired retirement. If we add to this the increased chances of suffering from a disease over the years, we understand why it can be difficult to find life insurance for the elderly in the market . Complicated, but not impossible: finding a company that insures us beyond 60 is not a mission doomed to failure, as some insurers do offer life insurance policies to seniors .

Although to access life insurance for people over 65, the interested person will have to undergo a series of more stringent medical tests and examinations so that the insurer can establish the risk and calculate the premium. If the insurer considers that the risk of offering a life policy to the interested person is acceptable, both parties may sign the contract. However, the person interested in the insurance must decide, at this point, if it is convenient to pay the premium they offer, which will be considerably higher for people between 55 and 80 years old.

In fact, for people of a certain age there are other types of life-savings insurance that could be more suitable, such as life annuity, which also works as an alternative to inheritances .

However, if what we are looking for is life insurance and we are over 60 years old, it is advisable, before making any decision, to go to a life insurance comparison and learn about the conditions, benefits and prices of the best policies on the market. This way we will have starting information to be able to make a correct decision.