We specialize in:
- Medicare Advantage Insurance
- Life Insurance
- Medicare Supplement Insurance
- Medicare Part D Prescription Drugs
- Long-Term Care Insurance
It’s a fact that age plays a significant role in purchasing insurance for seniors. And while there are some age restrictions (varies from company to company), the age limit for life insurance is probably higher than you once thought.
Common age cutoffs are:
- Age 80 for a 10-year term
- Age 75 for a 15-year term
- Age 70 for a 20-year term
- Age 55 for a 25-year term
- Age 55 for a 30-year term
Permanent life insurance, generally a more expensive form of insurance, that covers you for the rest of your life is typically limited to 75 or 80 years old. “Final expense”' insurance is sometimes offered to consumers up to 85 years old.
Of course, life insurance gets more expensive as you get older. But even if you're just past 50 you will probably find the application process a little more complicated than you expected.
The bottom line is that procrastinating on the purchase of insurance can be costly depending on the type of insurance you are buying. If you are age 40 and wait just a decade to buy, your rates could double. If you want until after 60, you can expect rates to triple!
Are you a senior with questions about purchasing life insurance? Regardless of the type of insurance Prescott seniors may need or want, they can rely on Adler Insurance for a comprehensive and professional review of their situation. To schedule an appointment, contact us at 928-710-1455 or visit us at http://www.adlerlifehealth.com.
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