Affordable life Insurance after 50? Or 60?
Are you 50 0r 60 and uncertain of what the future holds for you? Here is a solution that will bring a smile to your face. When I take of insurance, am talking of surety of the life after. Life insurance is said to be a contract that is made between two parties, this is the insurance policy holder and the other party being the insurer. Also checkout this link:http://www.bankrate.com/finance/insurance/affordable-life-insurance-after-50-60.aspx for known information. The insurer in this whole process, promises to pay a fixed amount of money in exchange he or she will get a premium upon death of the insured person. The agreements are varied and depending on the type you agree on, it could also be triggered by terminal or critical illnesses.
These life policies are normally legal contracts of which the terms of the contract do describe the limitations of the events that have been insured.
Major classes of life policies
- Protection policy – This is a policy which has been designed to provide benefit, normally which is on lump sum payment, ones he specified event occurs. Term insurance is a common policy in the protection sector.
- Investment policies –When you want your capital to grow by regular or single premiums, this objective will help facilitate this. Universal life, whole life and variable life are some of the common forms here.
Therefore, affordable life insurance after 50 are much more limited as compared to younger ages. You can visit this site here for more information. Though majority of this big insurance companies do have policies for the over 50s which is paid in lump sum in the event of death. You do not need a medical test nor answer any questions for you to get this policy. Some of these insurance companies like the AIG and the AVIVA are there to serve you. They do not limit you taking the cover on medical grounds, so you are fit to take one.To apply for example, you can easily go online and create and account and login to access the various services. Rather you can go the manual way. You cannot miss an insurance policy that is affordable to you.
60 and still worried whether the insurance companies do recognize you? Do not be worried for many of these companies still care for you regardless your age. Insurance after 60 is therefore possible and you can get an affordable one. Though some companies got limitations of the period for the term life insurance policies, they do vary from one company to the other. At 60, you can be able to buy even a 20 to 30 year policy depending on which company is offering what policy. Let not your age worry you that your either 50 or 60 and you are afraid of going to get a life insurance. Put the benefits first like your family will be protected from expenses such as medical bills, funeral and death expenses and can take care of any outstanding credit or mortgage payments. Be sure that your loved ones will not struggle after you are gone. Put life insurance first.