Life Insurance for People Over 50

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All About Life Insurance for People Over 50:

Life Insurance for People Over 50People over 50 years old have reached to a stage when they try to secure their family financially. People at this stage start to face different health problems and they became worried about family. Life insurance for people over 50 is hard but possible. Statistics says that after becoming 50 years old more than 75% people face major health problems. It is a hard truth that at this age anyone can face sudden death so it becomes very important to have a life insurance to secure his family.

Most of the people start to worry about their family after crossing 50 years age. When they look for a life insurance they see that insurance companies are asking for extra premium as they have health risk. But there are different insurance companies offer discount and other exclusive offers considering them as respected citizen of the country. Life insurance over 50 is little bit risky for the company as clients suffer from several diseases and giving them insurance is risky for their business.

Which Policy Should I Choose?

Life insurance for people over 50 is little difficult to get in case of whole life insurance. If you are looking for a term life insurance it is simpler and easy. You can purchase term life insurance for 10 years, 20, years or 30 years.

What are the conditions for life insurance for over 50?

Basically having a good health is the most important condition for getting a cheap life insurance for people over 50. Getting a life insurance over 50 becomes easier when you are a non-smoker and owner of good health. For diabetics patients the premium becomes higher but comparing different companies using the free quotes you can find the best deal.

Example of Life Insurance Rates for People Over 50:

a)      A 10 years term life insurance for people over 50 years old man (good health, non-smoker) for $500,000 costs $80 – $85 per month.

b)      A 10 years term life insurance for over 50 years old woman (good health, non-smoker) for $500,000 costs $75 – $80 per month.

c)       A 10 years term life insurance for over 50 years man (smoker, fair health) for $500,000 costs $300 – $400 per month.

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Here is a tablet that is showing the average monthly cost for 20 years term life insurance for over 50:

Age

$300,000 $500,000

$1,000,000

50 years old man

$50 – $55 $85 – $90 $160 – $180

51 years old man

$55 – $60 $90 – $95 $180 – $185

52 years old man

$60 – $65 $95 – $100 $185 – $190

53 years old man

$65 – $67 $97 – $101 $190 – $195

54 years old man

$67 – $70 $100 – $103 $195 – $200

55 years old man

$70 – $80 $102 – $105

$200 – $203

The above table is just an average statistical value, it’s just for a rough idea, don’t take the values as fixed.

Getting a good life insurance for people over 50 is harder than life insurance for 30 years old people. When you are at over 60, over 70, or over 80 you will find that getting is life insurance has becoming harder. The early you buy a life insurance the cheaper monthly premium you get. It is proved that more than 85 percent of people of United Stages feel relaxed after buying a life insurance at 50 years age. It is your responsibility to secure your family financially.

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