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You can still get affordable life insurance after age 60

It’s never too early for adults to buy life insurance, and it’s rarely too late either.

While life insurance is generally less expensive if you buy a policy at a younger age, older adults can still find affordable life insurance coverage. Here are several different types of life insurance people over the age of 60 may want to consider.

Guaranteed issue

Guaranteed issue life insurance is a beneficial coverage option for adults over the age of 60. Guaranteed issue policies do not require an applicant to undergo a physical examination or even answer any questions about their health.

Because life insurance rates can be determined by factors like age and health, a guaranteed issue policy can be instrumental in securing life insurance coverage for someone past middle age. Coverage is subject to receipt of payment and verification of identity as required by law and is effective upon receipt of policy.


Adults over the age of 60 can also consider buying term life insurance. In fact, older adults who are in good health may find that a term policy can offer an attractive life insurance value. You can choose how long you would like coverage, and you can lock in a fixed premium rate while being able to leave behind a significant cash benefit to your beneficiaries.

One particular type of term life insurance that is well-designed for older adults is annual renewable life insurance. This type of policy renews coverage on a yearly basis and provides a good way to cover short-term debts or to maintain coverage without a long-term financial commitment.

Final expense

Final expense life insurance policies typically come with smaller benefit amounts than some other types of life insurance. These policies are designed to help cover funeral costs and other end-of-life care expenses. This type of life insurance can be good for an older adult who does not want their death to create a financial burden for any surviving family members.

Permanent life

While term life can be a good option for older adults, policy lengths are not permanent, and it’s possible to outlive your coverage. If you want to ensure your beneficiary receives a payout no matter how long you live (so long as your premiums are paid on time), whole life insurance may be the option for you.

There are different types of permanent life insurance policies that not only offer permanent coverage but also provide cash values and investment features, such as universal and variable universal life insurance.

Quality of life

Quality of life insurance is a type of policy that offers living benefits. If you suffer from a qualifying chronic, critical or terminal illness, you can benefit from the policy’s value while you’re still alive. For people over the age of 60 who are at an increased risk for health complications, quality of life insurance can provide can be a good option for affordable coverage.

Accidental death and dismemberment

Accidental death and dismemberment insurance is a less expensive type of insurance that only pays a beneficiary if the cause of death is accidental. These policies can even include living benefits in the event that you survive the accident.

Finding the right type of life insurance for you

Finding the right type of life insurance is important for everyone, and it can be more critical for adults over the age of 60. An AIG-appointed life insurance agent can help you assess your needs and determine the best type of policy for you. Call 855-382-3599 today to learn more.

Policies issued by American General Life Insurance Company (AGL). Issuing company AGL is responsible for financial obligations of insurance products and is a member of American International Group, Inc. (AIG). Products may not be available in all states and product features may vary by state. Policy Form #s: #12100 (Policy #05100 for FL and VA), ICC15-15532, 15532, 15532-5, 15532-10, Rider Numbers: ICC15-15200, ICC15-15201, 15200, 15200-10, 15200-35, 15201, 15201-9, 15201-10 and 15201-35. ©2018. All rights


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