What term life insurance policy should I get for a 60 yr old man?

My father is 60 years old, a smoker and taking Zocor, and is average weight.

The life insurance quotes I have seen for a 10 yr term for $150,000 are $180 a month.

Does that seem right? Anyone know a cheaper life insurance plan? Basically I inherit the house while my relative gets the cash, so it's all fair. I would make the payments and leave my relative as the beneficiary.

A one year term life insurance would be cheaper - but the price is only guaranteed for one year. Then if you renew the coverage the rate will increase each year.

If you're looking for life insurance for a 60 year old, at the same price as a 30 year old, it doesn't exist.

Life insurance rates increase with age, and your health condition.

You may want to consider a 20 year level term life insurance plan, or a policy that lets you renew at the current rate.

Your father may live to be 100, but if he keeps smoking, the odds are that he will not make it to 80. His chances of living until 70 are fairly good, If you have to renew in 10 years, the rate will be higher. That's why a 20 year term life plan may be something to consider.

First, ask yourself, why does he need life insurance? The most common reason to purchase life insurance is to protect the income stream for surviving beneficiaries.

If nobody is dependent upon your father's income, it doesn't make much sense to purchase life insurance. Why not place the money that would be spent on life insurance into a mutual fund or some other investment each month?

However, you can compare free term life insurance quotes from several leading life insurance companies to find the lowest rate from over 70 top insurers to help you save money on your father's term life insurance policy.

Here's an article that review life insurance for people over 60 to help you learn more about your options for life insurance for your father.

NEW! Here’s How to Buy up to $250,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.



Disclosure: Compensated Affiliate

Best Life Insurance Company?

What is the best life insurance company for the money?

I am 60 and looking for the best life insurance for my money.

When it comes to choosing the best life insurance company, no matter what your age, you may want to consider your goal for your life insurance policy - Is it to pay your final expenses, leave money to the family, pay off outstanding debt, etc.?

Also, you'll want to consider how much life insurance you need, for what period of time, and what you can afford to pay.

There are several companies that offer life insurance for people age 60 and over. The price you pay and amount you can buy will vary by insurer, and depend on your age and health.

There are whole life plans that offer lifetime coverage but cost more.

There are term life plans that offer temporary coverage for 1-20 years and usually cost less than whole life insurance.

There are also senior no exam life insurance plans that usually cost more and offer a limited amount of life insurance, but if you have been declined, or are finding it difficult to get life insurance, you may want to consider this type of policy.

One way to find affordable life insurance at age 60 is to contact a local licensed life insurance agent to help you compare plans and premiums.

Also, you can review life insurance for people over 60 plans, rates and companies on the internet to learn more and request your free life insurance quotes.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.





Disclosure: Compensated Affiliate