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Term Life Insurance over 55

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Life insurance is more difficult once you pass age 55, no question; however, it doesn't follow that you are necessarily excluded from term life insurance thenceforth. Let's have a look at the complication arising for term life insurance on individuals over 55 and see whether it affects you at all.

The sticky wicket

Half of the rub is that age is a determining factor in evaluating a person's mortality risk. That results in higher prices for people over 55.  There's nothing that you or we can do about that part of the problem.

The other half of the rub is that as people age, they tend to fall out of shape and develop health problems. If you're still in good shape and are free of serious medical conditions, then you can still qualify for a good (perhaps the best) health class and purchase term life insurance at good rates. Your rates will still be higher than they would be if you were 10 years younger, but they might in fact be lower than the rates that were offered 10 years ago.

Read our brief descriptions of the top four life insurance health classes.  If you qualify for any one of them, you can probably complete the term life insurance purchase process, just as anyone under the age of 55 would do: start by completing the online form for instant life insurance quotes. Otherwise, keep reading.

What if I'm over 55 and have health problems?

Some companies will advise shopping for no-exam life insurance, but the fact is that no-exam life insurance should be a last resort because it offers little value for its high price. Even if you have health problems, you may qualify for ordinary term life insurance; you just won't qualify for the best rates in your age group.

We're not saying that no-exam life insurance isn't worth it, but before you shop for it, try to find term life insurance coverage. Speak with an agent or broker over the phone in order to provide an descriptive portrait of your mortality risk.

Be aware that when dealing with health problems, an agent may not be able to give you quotes (prices) right away; indeed, if he/she gives you instant life insurance quotes, he/she may not have done the homework necessary to find you accurate quotes and the best price.

Wholesale Insurance specializes in finding coverage for difficult cases, like term life insurance for 55-year olds and beyond. You can reach us at 800-823-4852.

No-exam life insurance over 55

If you fail to obtain ordinary term life insurance coverage, you might seek no-exam life insurance coverage, which is available as either term life insurance or whole life insurance. If you're over 55 years old, whole life insurance becomes less appealing, though; its cash value aspect is of little point unless one begins investing in it earlier in life.

For some shoppers, no-exam life insurance is simply not a worthwhile investment. However, you won't know until you've compared prices. Wholesale Insurance enables you to request instant no-exam life insurance quotes online.

A few of the carriers we quote

For assistance call 1-800-823-4852 7am–6pm M–Th, 8am–5pm Friday (Pacific time).
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R. Jan Pinney CLU, ChFC, is a licensed life insurance agent in all states and the District of Columbia. The following agent license numbers are provided for R. Jan Pinney as required by state law: CA agent #0440057, LA agent #291116, MA agent #1674866, MN agent #20270113, UT agent #58330, agent R. Jan Pinney, DBA Pinney Wholesale Insurance Services. Commercial use by others is prohibited by law. This site provides term quotes. Each rate shown is a quote based on information provided by the carrier. No portion of WholesaleInsurance.net may be copied, published, faxed, mailed or distributed in any manner for any purpose without prior written authorization of the owner.