20 Year Term Life Insurance over Age 50

Reasons to Buy a 20 Year Term Policy

There are a variety of reasons which might apply to your particular circumstances but the main reason why most people opt to go with a 20 year term life insurance policy include.

  • Income replacement
  • Funeral and death expenses
  • Medical bills as a result of an illness
  • Pay off bills such as the mortgage or other outstanding debts
  • Cover the kids’ college tuition
  • Provide financially for your spouse or other survivors
  • Leave a financial legacy
  • Cover business expenses if you are self employed or in a partnership

Can I Buy a Term Life Policy Longer Than 20 Years?

For those of you in their 50’s, many of you will be able to buy a 30 year term up to and including age 58.  But if you just turned 59, you will be out of luck as you will have reached the cut off point where no life insurance company will sell you a term policy for more than a 20 year term.

And remember, the older you get the more expensive it will cost to buy a term life insurance policy.  If you are just about to turn a year older than you shouldn’t delay and buy what you need before you hit that birthday threshold.

Need More Information for Buying Life Insurance in your Fifties?

Check out this other helpful article if your in your fifties  – Term Life Insurance 50 – 59 Years Old

Final Thoughts

Now, even if you’re not as healthy as you’d like to be or maybe you’ve been recently diagnosed with a potentially life threatening ailment, then you may still be able to get a 20 year term life insurance policy, but it will cost more to buy.

Don’t despair because I specialize in finding policies for those whose health is not the best.

There are a number of options you can consider, so your best bet is to call me so I can advise you of what’s available for someone who has a particular life threatening illness.

You always want to talk to an independent agent like myself.  We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates.  If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.

Whatever your needs or questions then please call me direct at 877 – 966 – 9383.