I’m 50 can I get still get life insurance?
I’m 50 and Wondering About Life Insurance
Often, it isn’t until the need for something is more apparent that we make a move and start to put things into action. Nothing could be more true when it comes to life insurance. If you’re over 50, you may now be wishing you had taken steps to invest in life insurance years before, but the good news is that it isn’t too late and you do have some options.
One of the things people over 50 worry about the most when it comes to finding and buying life insurance is that their age will make it expensive. It’s true, each year older a person is, the greater the risk they are to an insurance provider. This means that the provider will offset this risk by charging more for premiums, making over 50 years old life insurance more expensive than it would be if a 30 year old were to purchase a policy.
With that being said, a less-expensive solution for those over the age of 50 is a term life insurance policy. With a term life insurance policy, the holder pays for coverage during a set period of time. If you die within that time frame, your beneficiaries will be covered.
Term life is undoubtedly cheaper than whole life insurance, however, which policy type you choose will really depend on your individual circumstances. You may have more difficulty finding over 50 years old life insurance if you’re interested in a whole life policy, and so it’s wise to seek the advice and assistance of a licensed insurance agent. But, if you want permanent protection that covers you for the rest of your life, doing a little extra leg work to get a whole life policy will be the way to go.
If you’re over 50 and looking for insurance, the best place to start is by comparing rates on the internet. Then, when you find some policies that interest you, seeking the help of an agent will improve your chances of getting the comprehensive policy you need for a price that’s affordable.
