Can you get life insurance up to 90 years old? Term life insurance is a popular option. Rather than covering your life for the rest of your life, it covers a specific period (usually between 10 and 30). There are other options available for this age range? What are the Top 10 Life Insurance Companies?
Let’s start!
Term life insurance up to age 90
Term Life Insurance is one of the most common types of life insurance. The biggest disadvantage is that the coverage provided by this policy is only temporary.
It is not an issue for some consumers. A term policy can be a practical way to insure a person’s life.
Term life insurance is also cheaper than permanent life insurance. Term Life Insurance is cheaper as well than the average Permanent life insurance.
What is the Smart Alternative?
What if you want to extend your life insurance policy until your golden years? If you are in retirement or looking for senior life insurance over 80, then you’re lucky.
Life insurance is available up to 90 years of age! And you can even get policies for ages 100 and 105 . We are happy to assist you.
Universal Life Insurance with No Lapse Rider
You can choose a Universal Life Policy that includes a No-Lapse Guarantee. It is a type of permanent insurance. However, it is similar to term life in that the premiums are fixed for a period of time.
A Guaranteed universal life policy will allow you to lock in your premiums until age 90, or higher.
It is a permanent life policy, but it does not build up a significant value over time. It is not intended to be used in this way. Instead, it’s designed to offer you cheap and permanent coverage as long as you are alive.
Best Insurance Companies for Guaranteed Universal Life
We have worked with more than 60 insurance companies and we have selected the best companies to offer Guaranteed Universal Life Insurance that locks in rates up to age 90. These life insurance companies offer the best rates on this type of coverage.
- American General
- Banner Life
- Mutual of Omaha
- North American Company for Life & Health
- Principal
- Protective Life
- Prudential
- Transamerica
Cost of Life Insurance Up to Age 90
Guaranteed universal life policies may be more expensive than term insurance , but they might still be your best option, depending on how old you are and what coverage you need.
Consider a real-life scenario to see how pricing works. Let’s assume John is a man of 50 years who wants to apply for a life insurance policy worth $250,000.
- Protective Life offers him Guaranteed Universal Life at a rate of 139 dollars a month. This is the Preferred Plus rate.
- Protective Life would offer John a rate of $74 per month if he applied for a 30 year term $250,000. This is almost half of the cost of the Guaranteed Life insurance policy.
- If he also applies for a term of 20 years for the same amount, Protective offers an even lower rate at $43. John’s term policy wouldn’t last him until age 90. However, the GUL would.
Is it possible to get life insurance at age 90?
You can get life insurance regardless of your age or coverage needs. You have a variety of options. Seniors may be able to get life insurance without an exam. You can skip your medical exam if you qualify. Get a life insurance policy quickly.
Check out our other articles to learn more about other types of life insurance policies. We have reviewed policies like final expenses insurance and guaranteed-issue life insurance.