Once we are past the age of 60, there are a number of concerns that must be addressed. When Naples, FL residents meet with Pro America Insurance, they are typically concerned about their ability to obtain life insurance when they are over 60.
What Changes Do We Need To Be Aware Of?
After the age of 60, the life insurance policies that we are able to purchase change significantly. During our younger years, every possible life insurance policy is available to us. Whether you are looking for a 10-year term, a 30-year term or even a 40-year term, there is no shortage of potential options.
Obviously, 30-year terms and 40-year terms are not as readily available once we are over the age of 60. The terms of the policies that you are able to purchase are capped. Anyone who is over the age of 60 and looking to purchase a term life insurance policy that stretches longer than 25 years will not be able to do so.
How Can I Obtain The Insurance That I Need?
There are a few key aspects of determining the form of life insurance that you need. For example, those who are already out of the workforce may need a different form of life insurance. Those who are still actively working should purchase a term life insurance policy that offers coverage until retirement.
Estate planning needs must also figure into the equation during this decision making process. Applicants who are over the age of 60 years old must start to plan for what will take place after they have passed on. In these instances, lifetime policies are the best course of action.
Over the age of 60 and looking for additional guidance when it comes to your life insurance options? Naples, FL residents who fall into this category are urged to contact Pro America Insurance as soon as possible.