I always feel it’s best to discuss life insurance pricing right out of the gate when dealing with my clients over age 80, since sometimes the premiums are prohibitive.
The quotes below are for a male age 81, 82, 83, etc in good health, who can qualify for the best health classification, and purchasing a 10 year term policy.
Age $100,000 $250,000
Male Age 81 $395 $903 per month
Male Age 82 $453 $1049 per month
Male Age 83 $531 $1245 per month
Male Age 84 $620 $1468 per month
Male Age 85 $718 $1719 per month
Note: Life insurance for people over 80 listed above are valid as of 12/2/2011 and subject to change. Not available in all states, and based on Preferred Non Tobacco User.
Please keep in mind you can also get quotes for $25,000 or $50,000. You don’t have to buy $100,000 if the premiums are out of your budget. Use our quote form on the right for a quick quote.
You should also be aware that if the cost of life insurance as a senior is prohibitive, you can potentially save thousands per year by purchasing a second-to-die policy, which only pays a death benefit upon the second death. This could be the perfect solution for a estate planning need or to leave an inheritance to your children.
How to Purchase Life Insurance at Ages 81 to 85
The key purchasing life insurance at age 82 or 84 years old, or any age for that matter, is your health. If you’re healthy and have had no history of serious medical impairments, such diabetes, COPD, or heart disease, you will pay a lower premium than the policyholder who has had medical problems.
Having said that, be sure to speak to an experienced independent agent such as myself, Chris Huntley, about your health history. A good agent will know which company will give the best health classification, and therefore lowest premium….(continued on page 2)