Backdating health insurance
But if he needs it longer, the premiums will increase in policy year 16 substantially.But that’s ok because this individual can let his coverage go at this point if he no longer needs it.
Most of our clients in their 50’s can get away with a 10 or 15 year term.
Here are some sample 10 year rates.*10 Year Level Term Life Insurance Quotes – premiums for male, nonsmoker preferred plus rates valid as of 3/13/2017 are subject to change.
That’s why it doesn’t matter if you’re 51 or even 57 years old; you should buy a term policy for a length that matches the amount of time you’ll need coverage.
You don’t want to buy a 15 year term policy at age 53 if you just refinanced your home and need coverage for the next 30 years to cover your mortgage.
At Huntley Wealth Insurance, we specialize in understanding and meeting the life insurance needs of individuals ages 50-59.
As mentioned in the introduction, you’re at a unique age with the following special considerations.#1 – Health For most of our younger clients, health rarely gets in the way of finding affordable life insurance.…
Let’s say a 51 year old purchases a 10 year term policy.
At the end of the 10 year term, the policy does not just cancel itself.
but we do start seeing some health concerns with our clients in their 50’s.