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Life Insurance for Seniors age 60-69

Senior Life Insurance age 60

How to choose the best Life Insurance.


In order to choose the best coverage, you first need to ask yourself why you are taking out a life insurance policy in the first place.

  1. Are you looking to use life insurance as an investment or do you just want protection for a period of time?
  2. What financial obligations do you still need to protect? For example: mortgages, debts, and credit cards? Who is still financially dependent on you?
  3. How much have you allocated per month for your life insurance purchase?
  4. What are your financial needs and goals?

The answers to these questions will lead you to the right type of policy for you.


Types of life insurance for seniors:


Term Life Insurance


Term life insurance provides protection at a fixed premium for a period of time. Term policies are usually 10, 15, 20 or 30 years.


No-Lapse Guaranteed Universal Life

This is a permanent policy that doesn’t build any cash value, but like term policies, provides you protection to age 90, 95 or age 121.  It is more expensive than term but not as expensive as whole life which builds cash value. This coverage has been a good fit for seniors that want protection and are not interested in building cash value.


Final Expense


These policies are small whole life policies that do have a high monthly premium and stay the same as long as the coverage is in force.

If you choose to buy life insurance, don’t forget to tell your policy’s beneficiary. Since you’ve decided the answer is yes to do I need life insurance, you really want to know that the money will go where you want it to. Every year, millions of dollars of life insurance policies go unclaimed because the beneficiaries don’t know to claim the money. If you want your policy to go to your loved ones instead of the insurance company (and we’re assuming you do!) don’t keep the policy a secret. Now you just have to answer the question, How much life insurance do I need?


So how do you find a better senior life insurance policy?

Call a local independent insurance agent who can meet with you face to face.

He/she will ask basic health questions such as current medicines you take, height, weight, tobacco use and current health conditions.

Ultimately, the easy way to find the best senior life insurance policy is to compare quotes at  Mintco Financial or call at  813-964-7100