It could be important to have life insurance for over 50 years old. As you head into your retirement years, life insurance over 50 can help protect your beneficiaries financially if something tragic were to happen to you.
But if you don’t have over 50 life insurance yet, don’t worry. We can help. Here is some more information on what you need to know about life insurance for over 50.
Why should I buy life insurance over 50?
At this point in your life, you may have loved ones who could be left emotionally devastated by your passing. Don’t leave them financially devastated as well. An over 50 life insurance policy may be a good way to replace your own income to protect your beneficiaries financially. You may need life insurance over 50 if you have dependents, such as children, elderly parents, or a spouse who does not work.
Life insurance for over 50 may help take care of filling in for the absence of your income, such as mortgage or car payments, or just day-to-day living expenses (in the event of your death). Over 50 life insurance could also help pay for your beneficiaries’ education.
And finally, life insurance for over 50 may help your beneficiaries pay for your funeral and burial expenses.
What types of policies are available for life insurance for over 50?
This will generally depend on your age and health status. But you may have a choice of a variety of policies. There are two main types of life insurance over 50 – term life (which lasts for a specific term or period of time) or permanent life (also known as whole life insurance and pays a benefit to your loved ones when you die in addition to generally building savings called “cash value”). At any rate, we can help you find competitively-priced quotes for over 50 life insurance.
How much coverage do I need for over 50 life insurance?
You may want to buy life insurance for over 50 that helps cover between seven to ten times your annual income.
How can I get a quote for over 50 life insurance?
Just fill out this simple form and we can help you find free, no obligation quotes for over 50 life insurance.