If you are approaching your 65th birthday and you still don’t have life insurance, don’t you think it is time to consider looking at over-65 life insurance policies?
Whereas there was a time when securing a policy at this age was not possible or would cost a small fortune, that is no longer the case.
Today, Claybrooke offers multiple policies that will meet your needs and budget.
Life Expectancies Are Increasing
Today, people are living longer than ever, often into their late 80s and even well into their 90s.
The increased average life expectancy has allowed insurance companies to offer initial policies much later in life.
Whereas once only a few companies were willing to offer life insurance for those over 65, now dozens of companies offer various policies to this demographic.
While rates for this age classification have come down in recent years, insurance policies for over 65-year-olds are still more expensive than those for people under 50.
However, they are much cheaper than policies at the next level, over 70. Luckily, most insurance providers still offer guaranteed acceptance at this age level.
Click To Compare QuotesThis means that for those of you with medical concerns, no medical underwriting is needed to secure a policy.
You are guaranteed coverage and a rate with acceptance. If there are medical issues, you may consider improving your overall status by quitting smoking if you are a current smoker.
In most cases, you must quit for at least one year before obtaining the policy.
How Does Life Insurance Over 65 Work?
Just like any other life insurance policy, an over 65 life insurance policy will pay out a lump sum to beneficiaries upon the death of the covered individual, assuming the death did not fall into one of the exceptions, such as drug and alcohol abuse or suicide.
The money can be used in any way the beneficiary desires.
How Much Coverage Will You Need?
This is the most important question you will need to answer when deciding on the coverage amount of an over-65 life insurance policy.
One of the first things to consider is whether you are still earning a paycheck or living off retirement money.
If you are still employed, the amount of your salary will need to be factored in to help your spouse cover expenses if something happens to you.
Other bills to consider are the mortgage, car insurance, educational costs, and secondary care.
If you or your spouse are approaching 70, you may have additional medical care costs that will need to be covered now or in the near future.
If you are already taking care of your spouse in this fashion, an additional caregiver will need to be employed in your absence.
Click To Compare QuotesOther things to consider are burial costs and a legacy for your children or grandchildren.
You should also consider inheritance tax, if applicable, and the cost of inflation during the policy’s term.
If £500,000 will cover the costs for 20 years today, will it still cover those exact costs if the policy is not collected until ten or twenty years from now?
Stipulations for Life Insurance Over 65 Plans
Regardless of the age grouping, most life insurance policies carry a clause stating that no benefits will be paid until after a specific period of time has passed.
In most cases, this period will be as short as 12 months and as long as 24 months.
However, if the covered were to die during this period, the insurance company often refunds any premiums paid since the policy was never actually in effect.
Premiums must be paid and current for the policy to be considered valid. Missing any payments will cause the policy to become null and void.
If difficulties are expected, you should contact the insurance company immediately to inform them of the situation and see if there is any way to avoid them.
In some cases, you may qualify for a temporary exemption of premiums.
It would be best to address this with the company before signing a policy, as sometimes clauses can be enacted in emergencies to cover premiums and keep the policy valid.
Shop Around for the Best Policy
At this age, there is a good chance you are living on a very limited budget. Spending excess funds on over-65 life insurance will not help your situation.
To avoid paying too much, feel free to use the Claybrooke life insurance comparison tools to find the best policies for your coverage amount and budget.
Our website eliminates the need to spend hours calling up individual companies to find out the best rates.
You can find your policy quicker and secure your coverage much sooner, which gives you peace of mind.
Click To Compare QuotesThe tools on our website are easy to use, even for those who are not Internet savvy. Simply fill out the required information and click.
The programming will do the rest to find the best policies with the best companies.
You will not be pressured to make a purchase, as this information provided is just that, information for you to make an informed decision before purchasing.
Telephone Service Available for Claybrooke Clients
While our website is easy to use, we understand that not everyone feels comfortable using a website for something like this.
For this reason, we also have a team of insurance experts monitoring the phone lines for limited hours Monday through Friday and Saturday.
If you call outside of business hours, simply leave a message, and one of our team members will contact you as soon as they are available.
We know this is a major decision, and we want you to take your time and find the best policy.
We will do everything within our power to ensure you have ample information before purchasing.
Use the tools on our website to do your research, and then call us if you need further assistance.
We look forward to helping you secure the over 65 life insurance policy for you and your family’s peace of mind.
Your Most Important Questions Answered By Our Team
Does Claybrooke Life Cover do Life Insurance over 65?
Yes, Claybrooke Life Cover do life insurance over 65 at £9.56 per month for £200000 of cover.
Do Claybrooke Life Cover offer Life Cover?
Yes, Claybrooke Life Cover life cover is £12.29 per month for £281000 of cover.
Do Claybrooke Life Cover do Life insurance over 65?
Yes, Claybrooke Life Cover Life insurance over 65 is £7.83 per month for £291000 of cover.
Does Claybrooke Life Cover do Income protection insurance?
Yes, Claybrooke Life Cover Income protection insurance is £6.45 per month.
Does Claybrooke Life Cover offer mortgage life insurance?
Yes, Claybrooke Life Cover mortgage life insurance is £6.53 per month for £290000 of cover.
What are the current Claybrooke Life Cover rates for critical illness cover?
Claybrooke Life Cover interest rates for critical illness cover is £6.48 per month for £212000 of cover.
Does Claybrooke Life Cover have good reviews for life insurance?
Yes, Claybrooke Life Cover reviews are superb for life insurance.
Does the Claybrooke Life Cover life insurance calculator show the monthly costs?
Yes, the Claybrooke Life Cover life insurance calculator shows the good monthly premiums.
Does a Claybrooke Life Cover life insurance advisor charge a substantial fee?
No, Claybrooke Life Cover life insurance advisors are free.
Does Claybrooke Life Cover do whole of life insurance?
Yes, Claybrooke Life Cover Whole Life Insurance is £9.94 per month for £296000 of cover.
Does Claybrooke Life Cover do Joint life insurance?
Yes, Claybrooke Life Cover Joint life insurance is £6.32 per month for £242000 of cover.
Does Claybrooke Life Cover do Terminal illness cover?
Yes, Claybrooke Life Cover Terminal illness cover is £6.35 per month for £296000 of cover.
Do Claybrooke Life Cover do Term life insurance?
Yes, Claybrooke Life Cover Term life insurance is £7.31 per month for £202000 of cover.
Does Claybrooke Life Cover do Decreasing term life insurance?
Yes, Claybrooke Life Cover do decreasing term life insurance at £6.06 per month for £258000 of cover.
Does Claybrooke Life Cover do Increasing term life insurance?
Yes, Claybrooke Life Cover do increasing term life insurance at £9.43 per month for £259000 of cover.
Does Claybrooke Life Cover do Level term life insurance?
Yes, Claybrooke Life Cover do level term life insurance at £7.25 per month for £222000 of cover.
Does Claybrooke Life Cover do Family income benefit life insurance?
Yes, Claybrooke Life Cover do family income benefit life insurance at £9.94 per month for £227000 of cover.