My mother is 69 years old, 5'6, 130 lbs. in pretty good health. She has never had a life insurance policy before and shes getting ready to retire. She doesnt make that much so it would have to be a policy she could afford, I know whole life would be out of the question at her age. Does anyone know a good, inexpensive policy, company, or comparison site? and would there be such thing as some kind of rider that would pay her maybe a percentage every month or something along those lines? or would she have to look more into an immediate annuity for that?
Policy for 69 Year Old Female
- Thread starter jasonten
- Start date
Why does she need life insurance? Does she need an income or a death benefit?
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- #3
Well then you're likely looking for two separate solutions. Annuities are very good at providing income (especially when someone needs it almost immediately) whereas life insurance is very good at providing a death benefit.
Is she willing to talk to someone who can help her (and you)? There are a lot of qualified agents on this forum.
Stevekobrin
Expert
Good point from Tahoe Ray regarding two different solutions. If your mother is worried about final expenses and leaving a little legacy to her kids, get a guaranteed universal life product. It won’t have any cash build up but it will keep the premium and death benefit guaranteed permanently.
The price may be good because some carriers specialize in the 60+ age group. You will find this out when you prequalify her.
The price may be good because some carriers specialize in the 60+ age group. You will find this out when you prequalify her.
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- #6
