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Shawn Plummer
CEO, The Annuity Expert
How to Get Life Insurance Over 60
Understanding the Application Process for Seniors
Applying for life insurance over 60 involves several specific steps:
- Medical Exam and Labs: These are standard requirements for most life insurance applications. They assess your overall health and medical history.
- Cognitive Impairment Screening: Insurers often screen for cognitive impairments, particularly in applicants over 60. These tests are crucial for identifying any early signs of conditions like dementia or Alzheimer’s. They include tests like:
- Word Recall Test: You’ll be asked to remember and recall a list of words.
- Clock Draw Test: This involves drawing a clock and indicating a specific time, testing cognitive function.
- Additional Tests for High Death Benefits: For policies with benefits over $5 million, insurers may require an EKG or stress test.
Benefits of Applying After Age 60
- More Favorable Height and Weight Charts: Insurers often have more lenient standards for older applicants regarding height and weight. This can lead to better rates for seniors compared to younger applicants with similar health profiles.
Why Work with Licensed Agents?
- Expert Guidance: Agents like The Annuity Expert can help navigate the complex underwriting process.
- Tailored Quotes: They can provide quotes from insurers most likely to offer favorable terms based on your individual circ*mstances.
The Annuity Experts life insurance quotes tool can get the best quote for seniors
Conclusion
Navigating life insurance over 60 can be complex due to additional health screenings and varying insurer standards. However, with the right guidance, seniors can find policies suited to their needs, often at competitive rates.
Contact us today for a free quote.
Life Insurance Quotes For Over 60
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Frequently Asked Questions
Do I need life insurance after 60?
No, you don’t necessarily need life insurance after 60. However, you may consider purchasing life insurance to cover final expenses, such as funeral costs.
Can a 66-year-old get life insurance?
Yes, a 66-year-old can get life insurance; however, the premiums will be higher for someone younger.
Can a 68-year-old get life insurance?
Yes, life insurance is available to people over the age of 68; however, rates will be greater than for those under 65.
Related Reading
*Disclosure: Some of the links in this guide may be affiliate links. I may receive a commission at no cost to you if you purchase a policy. It helps us keep the lights on!
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Shawn Plummer
CEO, The Annuity Expert
Shawn Plummer is a licensed insurance agent and annuity broker with over a decade of first-hand experience. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.
The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates.
As a licensed insurance agent and annuity broker with over a decade of first-hand experience, I am well-versed in the intricacies of the insurance industry, particularly in the realm of life insurance for seniors over 60. My expertise has been honed through years of actively participating in the field, and my commitment to simplifying retirement planning has led to recognition in prestigious publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, and more.
In the article about life insurance for seniors over 60, several key concepts are discussed:
-
Application Process for Seniors Over 60:
- Medical Exam and Labs: Standard requirements for life insurance applications involve assessing overall health and medical history through medical exams and lab tests.
- Cognitive Impairment Screening: Insurers often screen for cognitive impairments, especially in applicants over 60. Tests like the Word Recall Test and Clock Draw Test are employed to identify early signs of conditions like dementia or Alzheimer’s.
- Additional Tests for High Death Benefits: Policies with benefits over $5 million may require additional tests such as EKG or stress tests.
-
Benefits of Applying After Age 60:
- More Favorable Height and Weight Charts: Insurers may have lenient standards for height and weight in older applicants, leading to better rates compared to younger applicants with similar health profiles.
-
Working with Licensed Agents:
- Expert Guidance: Licensed agents, like The Annuity Expert, can assist in navigating the complex underwriting process.
- Tailored Quotes: Agents can provide quotes from insurers likely to offer favorable terms based on individual circ*mstances.
-
Conclusion:
- Navigating life insurance over 60 can be complex, but with the right guidance, seniors can find policies suited to their needs at competitive rates.
-
Frequently Asked Questions:
- Need for Life Insurance After 60: While not necessary, purchasing life insurance after 60 can cover final expenses like funeral costs.
- Life Insurance for 66-Year-Olds: Yes, a 66-year-old can get life insurance, but premiums will be higher than for younger individuals.
- Life Insurance for 68-Year-Olds: Life insurance is available for individuals over 68, but rates will be greater than for those under 65.
-
Related Reading:
- The article includes links to related posts, such as buying life insurance for someone else and purchasing insurance for a child.
In conclusion, the article provides valuable insights into the application process, benefits, and considerations for seniors seeking life insurance over 60, all presented with the expertise and guidance of licensed agents like Shawn Plummer from The Annuity Expert.