Finding life insurance for seniors is more difficult. These are ages in which our family is supposed to be consolidated, children have grown up and the main function of life insurance, to protect our family if we are no longer there, loses part of its effectiveness. When we get older, our responsibilities diminish, and after retirement, the pension that we have left usually covers the needs of the home. In addition, the risk of suffering degenerative diseases increases with age, which makes it harder to find a tailored life insurance.
However, with the increase in life expectancy and an increasingly broad stage of work, there are more and more frequent cases in which the head of the family continues to be the main source of support for the household. So, protect the family financially in case of a mishap has the sense and it is convenient to buy life insurance for greater peace of mind , although you must bear in mind that the premium to pay will undoubtedly be more expensive that if you had hired him with 30 or 40 years.
In addition, at these ages it is convenient to keep in mind that many insurers only carry out life insurance up to 65 years. It is advisable to carefully read the contract of the policy and check the expiration date of the contract, because at 65 there are insurers that do not accept to insure people of this age.
Options to insure the most veteran
However, there are still offers on the market that insure older people and do not limit coverage as much because of age. In comparators you can find life insurance among the best offers of insurers.
In any case, it is logical that, previously, the person in question will undergo a medical examination to establish the real risk that the insurer faces. If you consider that it is an acceptable risk, you will not have problems to make sure.
However, there are more options that offer some economic security and are designed for the most veterans:
- Life insurance in the form of a life annuity: they are policies that pay the accumulated capital with the payment of the premiums in the form of a periodic income that serves as a complement to the pension. This insurance offers economic stability, especially if you have paid premiums for 15 or 20 years.
- Dependency insurance: They are not really life insurance, but they act in the face of reduced personal autonomy, either because of age, accident or illness. In these cases, the insurer covers the expenses that the dependence entails.