Life Insurance for People Over 50, 60, 70?

In a number of blogs and financial sites there have been an ongoing 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 71. The quotes I’m seeing show the availability of both 10 year and 15 year guaranteed term insurance from numerous companies.

Term Life Insurance Comparisons – What To Expect When Shopping For Term Life Insurance Online

When shopping for term life insurance online you will find a wide variety of prices, facts, figures and ratings available. Unfortunately, many sites may also ask for unnecessary personal and contact information!  This page will tell you what you have to do to get your term insurance quotes, and what sorts of information you should get in order to make a meaningful term life insurance comparison?

Life Insurance Company Ratings – “A New Reality”

Thursday’s New York Times article “Insurance Industry Joins Banking Giants on the Hot Seat” pretty much says it all. “Insurance stocks have plunged more than 30% in the last 5 days with Prudential Financial the big loser on Thursday.”

It’s no longer just the banks. Life Insurance Company asset quality and capital ratios are under the microscope and Prudential Financial, Hartford Financial and MetLife Inc. were the focus on Thursday.

Life Insurance Company Financial Ratings Are Changing – Some Thoughts & Shopping Tips

In the short to intermediate term, the current worldwide economic upheaval will leave few financial sector companies unscathed.  The life insurance industry is all about quality of assets, capital levels and financial ratings. In today’s illiquid economic environment and focus on asset quality and capital ratios, many life insurance company’s financial ratings are bound to change.

Reuters today reported – “Moody’s Investors Service warned on Friday it may downgrade credit ratings on some U.S. life insurers as a financial crisis takes a toll on their investment returns.”

American General Life – AIG To Sell Life Insurance Units To Repay Loan

It appears that American General Life Insurance Company policyholders may soon have some answers regarding the future of their life insurance policies. Bloomberg.com is reporting that AIG plans to sell their U.S., Japan and European Life Insurance companies to repay their government loans.

This is good news!  American General Life is an excellent company and the financial stability that will come from severing ties with AIG can help them get out of the public relations business and back to providing high quality, innovative life insurance policies and excellent policyholder service.

Financial Meltdown or Not – It Makes Sense to Review Your Life Insurance

With recent headlines about Economic Bailouts, bank failures, insurance company rescues, the mortgage meltdown, stock market woes, job losses and the impending recession, any number of financial sites have been recommending a life insurance review and update as a source of possible budgetary savings.

With term life insurance costs having steadily declined over the last decade, reviewing your current life insurance needs and costs is an excellent idea. However, when you think about it, a life insurance review should be undertaken every year no matter what the economic climate.

Concerned About Your AIG Life Insurance Policy?

Kiplinger.com has an excellent article entitled “Don’t Rush To Ditch Your AIG Policy.” This is an objective, even handed summmary regarding the safety of your policy. It rightly cautions against predatory agents seeking to replace your policy and discusses a variety of issues worth considering as regards your existing AIG policy.

Life Insurance Underwriting – Low, Low Rates May Have A Surprising Price

In looking at term insurance rates online, we’ve begun to see some very low rates for life insurance buyers over age 50 and 60.  Anxious to offer the lower rates to our customers, we inquired about quoting these rates on our site. Not surprisingly, these extremely low rates come come with some additional application and underwriting requirements.

Can I Reduce My Life Insurance Amount Without Buying A New Policy?

In most cases the answer is YES! Let’s say that 4 years ago you purchased a $1,500,000 term life insurance policy with a 20 year guaranteed level premium term period. In reviewing your assets and liabilities today, you realize that you no longer need the full $1,500,000 of coverage to meet your original income replacement, education and liability needs.

Life Insurance Medical Exam – Take a few simple steps before the examiner arrives.

No one likes taking a medical exam for life insurance. However, taking a few simple steps before the examiner arrives could make a real difference in your ultimate rate classification and what you’ll pay for your new coverage.

When you schedule your exam, arrange to have the examiner arrive as early as possible in the morning. You’ll get your very best lab results after fasting at least 8 hours, and if possible 12 hours before your exam.