Is it possible for seniors over age 70 to qualify for life insurance coverage? And, if so, who offers life insurance to people over age 70?
Yes, people over 70 may qualify to buy life insurance, and there are several insurers that offer coverage to seniors over 70.
Among the more well-known insurers of seniors aver age 70 are Met Life, Globe Life, Mutual of Omaha, Colonial Penn, and AAARP/NewYork Life, among others.
Usually, life insurance plans for seniors over age 70 are guaranteed issue and have a graded death benefit, which means you won't have full coverage until you have been insured by the insurer for at least 2 years.
If you want to try and find a better deal on price you may wish to contact a local life insurance broker and request quotes for a fully underwritten life insurance policy which would require a physical exam.
Otherwise, you can apply for a no exam life insurance plan which may cost more, but you may be able to start your life insurance coverage in just days, instead of waiting weeks for a policy.
Here's how you can compare some leading plans on
life insurance for seniors over 70.
