Email an Agent
Click to Call
Get Directions
Most people assume that they can’t get life insurance if they wait until after retirement. That’s not the case, though. There are several types of policies available, and many seniors still qualify for one of them.
Term Policies
Most companies in Fords, NJ offer something called term life insurance. These policies will provide coverage for a certain number of years, but they typically do have an age requirement. The age requirement varies per company. Some will stop offering policies at 70, while others will sell policies to people until they are 85 or 90.
Whole Life Insurance
Whole life insurance is a policy that will cover you for your entire life. Companies typically still offer policies until people are 80 or 90. However, this does impact your premiums. Seniors and those with health problems usually have higher monthly premiums because they’re expected to make fewer payments on the policy.
Final Expense Policies
A lot of people don’t think about these policies until they think they are close to the end of their life, and then they think it’s too late. Many companies offer a policy specifically for these situations. The policy offers a lower death benefit to simply cover funeral costs, and the premiums are higher, but they ensure your loved ones are not burdened with high funeral costs. An agent at Five Star Insurance Agency can help you learn more.
Age and health requirements vary by company. Most companies offer various policies, too. That’s why it’s always a good idea to discuss your situation with a representative at Five Star Insurance Agency. We’ll work with you to find a policy that meets your needs. Contact us today. We’re currently serving the Fords, NJ area.
