Quote:
Originally Posted by EdFNJ
A new policy at 65? May as well just self insure, as it's probably going to cost 80% of face value with a 2yr waiting period before they pay and if you have had anything more than a cold they probably won't take you. These folks will, they advertise on TV 900x a day. Get a Quote - colonialpenn.com  I guess if money is no object anyone will sell you a policy. Best advice: CALL a bunch of agents and get quotes. My $150K 25yr term policy expired when I was 69. The renewal rate was something like $6000 a year. |
Several amusing things concerning insurance a $150,000 25 year term policy was significant money at the start. Due to inflation in 25 years it was worth very roughly 1/6th in purchasing power. Too late for a do over. If, you had say cancer with an expected survival of two years, it would be a 12,000 investment on $150,000 return for your survivors.
Obviously an insurance company estimates risk and charges accordingly. Many at 65 are termed un-insurable, due to health issues