Life Insurance At Age 73
If you are shopping for life insurance at age 73, then you are probably
concerned about leaving a financial burden on your loved ones. Most shoppers look for life insurance coverage
in their seventies so that they can lock in a low rate before it is too late. Many seniors want to make sure
that their final expenses are covered so there is no burden left on their family. Others may have a need or
desire for a larger policy to pay off debts or to leave money to their spouses, children, or grandchildren.
Learn more about your options and compare rates from several highly
You have two basic options in your seventies - term life
insurance and permanent life insurance. Term life insurance is
temporary coverage that can last anywhere from one year or as long as 30 years, depending on the company that you
choose. Term is very affordable coverage because you can get a lot of coverage for a very reasonable premium.
Unlike term insurance, permanent life insurance will last you for your entire lifetime, as long as you continue to
pay your premiums. Your policy will also accumulate cash value on a tax-deferred basis. Whole life and universal
life are the 2 most common permanent coverage options.
Here are a few sample rates for life insurance at age 73. These are based on a non-smoker with a preferred
health rating. Your rate could be lower or higher depending on your situation.
$200,000 10 Year Term Life Insurance:
73 Year Old Male - $2495 per year
73 Year Old Female - $1923 per year
$25,000 Level Pay Whole Life Insurance:
73 Year Old Male - $127 per month
73 Year Old Female - $103 per month
Keep in mind that the actual rate that you will pay is going to depend on several variables such as your smoking
status, your health history, your family health history, your occupation and hobbies, and even your driving
history. Life insurance companies look at all of these things when determining your eligibility for a policy.
What If You Have Some Health Issues?
Although many 73 year olds have excellent health, there are some who have pre-existing health conditions from
childhood or other things that have developed over the years. In most cases, you can still get affordable rates for
life insurance with a few health issues. The type of policy that you can qualify for and the rate you pay will
depend on what that particular health concern is. For example, if you have type 2 diabetes, then some insurers will
offer you a standard rate if your condition is well controlled. If you have some heart problems or instances of a
past heart attack or stroke, then you may only qualify for a guaranteed issue life insurance policy. It is best to speak with an
experienced agent about your particular health situation because he or she can guide you towards the best carrier
for your needs.
Get A Quote Today and Compare Multiple Rates
The first step when shopping for coverage in your seventies or at any age is to shop around. Whether you need a
temporary policy for a certain number of years or if you want something permanent that will be there for the
remainder of your life, it is very important to compare quotes from several different companies. This is because
rates can vary by as much as 70% from one company to another depending on your age, your health, your smoking
status, and even your driving record. So be sure to get a free no obligation
quote today. You can view multiple rates in less than a minute and get closer to peace of mind in knowing
that your family is protected.