A common question asked by many senior citizens is – Is it too late to purchase a life insurance policy? The answer to that question really depends upon the age of the individual and what type of life insurance policy is being purchased.

Life insurance policies provide individuals with a sense of security by guaranteeing that loved ones are covered financially in the event of a death. These policies guarantee that certain named beneficiaries will be given financial compensation upon the death of the individual who is listed on the policy. This financial compensation can be used to pay for funeral expenses, legal fees, and bills that may arise after an individual has passed.

Unfortunately, the older an individual is the ‘higher risk’ they are for insurance companies when it comes to life insurance policies. Many insurers do not want to take on that type of risk, so they place an age cap on individuals who can purchase life insurance policies. That age cap is typically 75 year sold, but can sometimes go up to 78 or 80 years old.

If you have reached that age cap, it does not mean that you are automatically prevented from purchasing any and all life insurance policies. There are still some insurance companies that will offer coverage to individuals who are over the age of 75.

It is important to note that even if you have found an insurance company that offers life insurance to you after 75, the premiums may be higher than if you had purchased the policy earlier. This higher premium makes it extremely important for you to take the time to compare insurance quotes before you buy, as you will want to find the best offer available to you.

We, your independent agent, can help you find and compare quotes from insurance companies that may offer life insurance policies for individuals who are 75 and older, and live in Coppell, Texas.