Finding life insurance for seniors over age 65 is not the same story as it once was. Many 65 and older people are in their prime and enjoying life more than ever, and some have completely different stories to tell. As the baby boomers age, they aren’t as worried for the most part about providing income for their spouse if something happens to them. For many of them, the kids are gone and there are only their final expenses to worry about. Although the boomers look younger than ever for their age, the fact remains that their families have mostly grown up and moved out.
However, the insurance companies who carry life insurance for seniors over 65 many times don’t understand that 65 is the new 45 and life is different for some of these seniors. Some of them are even grandparents who are raising grandchildren. So, some of them do have some different insurance needs. This is something the insurance companies need to recognize and then make changes as to how they issue policies for this age group. They might have mixed needs as well. It is important for these companies to realize the difference in an active and involved grandparent from the rocker on the porch grandparent who is relaxing in retirement of decades past.
The good news is that some life insurance companies realize that you are not the same as everyone who is your age. When offering life insurance for seniors over age 65, these progressive and dynamic companies realize that if you are 66 and female that does not mean you are like every other 66 year old female. They know it is important to figure out what your individual needs are and how to write the right policy for your needs. If you are raising a child or there is a child living in your home, they know that you need more than final expenses coverage.
There have been many changes that affect life insurance for seniors. That means progressive companies are the ones who will get your business. Work only with a company who is interested in helping you find the policy you need, regardless of your age and sex. Your 60s are no longer the final decade or two of your life like they once were, and your insurance policy should not be set up as such if that is not what your life looks like. Although your rates will still be higher than those of a 30 year old, don’t accept a policy that doesn’t meet your needs!