Life Insurance for People Over 50, 60, 70?

In a number of recent blogs and financial sites there have been an abundance of articles and comments regarding life insurance for people age 50 and over. Unfortunately, a lot of the information and opinions provided are just plain wrong! For example, a major financial portal, in an article entitled “Term or Whole Life” states:

“……… people who need coverage starting in their 60s and beyond may have no alternative but to buy whole life. Most companies simply won’t sell policies to people over about age 65.”

What a bunch of baloney! Right now, I’m looking at term life insurance quotes for a male born January 1, 1938, making him age 70. The quotes I’m seeing show the availability of both 10 year and 15 year guaranteed term insurance from numerous companies.