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Review Of Best Life Insurance Options For 60 Year Old Woman

60 Year-Old Female Looking To Buy Life Insurance
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In this article, I’m going to be discussing options available for purchasing life insurance for a 60 year-old woman.

If you’re reading this article today, you’re probably looking for information on purchasing life insurance for a 60 year-old female to help cover the expenses of her death.

Maybe you’re looking for coverage for yourself, your mother, spouse, or another relative. If so, then this is the article for you!

Today, I’ll be giving you some basic information on how a 60 year-old female can purchase life insurance coverage.

Today’s Topics Include:

  • Why 60 Year-Old Females Buy Life Insurance
  • Factors That Affect Insurability
  • What Types Of Life Insurance Options Are Available For a 60 Year-Old Female
  • Strategies To Get The Best Prices

Why 60 Year-Old Females Buy Life Insurance

So, let’s start with why a 60 year-old female would be looking to buy life insurance.

Usually, it can be narrowed down to a couple reasons. Either she wants to make sure her final expenses are covered, or she wants to make sure there is a lump sum at the time of her death to cover other types of expenses.

However, everybody is different and you may have another reason entirely for purchasing life insurance.

Here are the five most common reasons that people choose to purchase life insurance coverage:

1) To Cover Final Expenses.

Like I mentioned above, maybe you want to make sure the costs of your cremation or burial are covered.

Considering that cremation can cost between $5,000 and $6,000 and burial can cost between $10,000 and $15,000, it’s a good idea to make sure that your final expenses are covered.

2) To Pay Off Large Debts, Such As Mortgage, Auto, Education, and Business Loans.

If you have a large amount of debt that you don’t want your loved ones burdened with upon your passing, a quality life insurance plan can help you make sure there will be money to help cover those expenses.

That way, they don’t have to try to come up with a way to make sure your debts like your mortgage have been paid off. It can provide peace of mind to both you AND your loved ones.

3) To Provide A Substantial Cash Benefit To Your Survivors To Replace Your Income.

Do you have loved ones who depend on your income?

If so, a life insurance policy can help at the time of your death by giving your loved ones a significant sum to help replace that lost income.

That way, you can have peace of mind knowing that they will be taken care of in the event of your death.

4) You Love Your Family And Want To Provide Financial Peace Of Mind During A Tragedy.

Maybe you simply want to leave your loved ones with a monetary gift when you pass away.

If so, a quality life insurance plan can be designed to do just that. Many people choose to leave their loved ones a significant sum of money at their death.

5) Leave A Legacy To Your Church Or Favorite Charity.

Did you know that you can name an organization as the beneficiary of your life insurance policy?

This is a great option for individuals who are very active in their church or who have a favorite charity they’d like to donate a large lump sum of money to.

No matter your reasoning for wanting to purchase a life insurance policy, rest assured that you DO have options.

Whether you simply want to cover final expenses or you want to make sure all your personal debts and expenses will be paid off when you pass, there ARE plans available to you that can meet those needs.

Factors That Affect Insurability

60 year-old woman looking for insuranceNow, I’m going to discuss some factors that can affect your eligibility for coverage. These factors can also affect how much you will pay for a life insurance plan as well.

In general, the factors that can affect your eligibility and the cost of your plan fall under one of three categories: Your age, your health, or your hobbies.

Your Age

Your age is an important factor in determining your eligibility for life insurance.

The fact is, the longer you wait, the more you will pay. That’s why it’s important that you don’t delay in purchasing a plan.

You want to get a plan NOW so that you can have today’s prices, instead of waiting and paying more in the future.

Don’t risk not being eligible for a life insurance plan because you waited too long.

You also don’t want to risk not being able to afford coverage. And the longer you wait, the more expensive a quality plan will be.

Don’t delay. Purchase your life insurance coverage today!

Your Health

Your health is probably the most important factor in determining eligibility and price for life insurance coverage.

When you apply, you’ll be asked a long list of detailed questions regarding your health.

Some of the questions may include asking specifics about:

  • your age,
  • weight,
  • height,
  • and if you smoke or not

The important thing to remember is, you must answer the question truthfully. Don’t omit any information.

You want to be as honest as possible regarding the status of your health.

If you are up front and honest from the beginning, the insurance company will look more favorably on your application.

And if you’re concerned that you won’t be eligible for coverage because of your health, list all the information anyway. There ARE insurance companies who may still be willing to offer coverage for individuals with health issues.

But, you have to be truthful about your health to begin with.

Your Hobbies

Another area that may be a factor in determining your eligibility is your hobbies.

If you happen to have any risky hobbies, it could affect how much you pay for your life insurance plan.

Risky hobbies would include activities like mountaineering, skydiving, scuba diving, and any other high-risk activity.

Now, I don’t imagine there are too many 60 year-old women who participate in hobbies like these, but there are bound to be a few!

And, on the off-chance that you are one of these adventurous women, it’s important to know that it could raise the price of your coverage.

This is another instance where it’s important to be completely honest. Make sure to be totally transparent about your hobbies because there ARE life insurance companies who offer plans to individuals who participate in risky hobbies.

What Types Of Life Insurance Are Available For A 60 Year-Old Female?

Types of life insurance for a 60 year-old femaleNow, we’re going to look at the most common types of life insurance that are available for a 60 year-old woman.

Term Life Insurance

In general, term life insurance is purchased by younger individuals so that they can have temporary coverage.

While there are cases where a 60 year old woman may want term life insurance, it’s not necessarily the ideal solution.


Most likely, she will outlive the term period on a term life insurance policy.

Also, a term life policy won’t be the answer that a 60 year-old female is looking for if covering final expenses is first and foremost.

I only recommend term life insurance for folks with temporary obligations. You should consider applying for term life insurance only if you want debts like a mortgage covered, or have income replacement concerns.

So, if term life insurance isn’t the solution, then that leaves whole life and universal life insurance.

Whole Life Insurance

Whole life insurance is designed to be permanent coverage. Rates generally stay the same throughout the life of the policy.

Also, whole life coverage cannot be canceled due to age or health. In fact, as long as you are paying your premiums, the policy can’t be canceled at all.

One of the most attractive features of a whole life policy is that it offers first day full benefit coverage, if you’re eligible.

Additionally, if you need cash, you have the option to borrow money against the plan if you wanted.

Whole life insurance plans are ideal long-term solutions for your life insurance needs like covering your burial expenses. They will pay a death benefit regardless of age or health.

It can offer you great peace of mind, knowing that your final expenses or debts will be covered at the time of your death.

It is important to note, however, that whole life insurance rates can run a bit higher than term life insurance plans.

And, again, the longer you wait to purchase coverage, the higher the cost will be. That’s why it’s important to purchase life insurance as soon as possible.

Below, I’ve included whole life insurance rates for 60 year-old females. I’ve included some of the most competitive prices so you can see what options may be available to you, depending on where you live.

Insert Rates Here

Please note, prices may vary and are subject to change. To get a better idea of how much whole life insurance will cost for you, you will need to fill out an application to see which rates are available to you.

Universal Life Insurance

In a sense, universal life insurance coverage is a way to get permanent-like coverage at a better per-dollar price of coverage than whole life.

Designed correctly, universal life can last until age 120.

Many people have ended up having to cancel their universal life insurance policies because they couldn’t afford to pay the ever-increasing premiums. Their plans weren’t managed correctly and they ended up losing their life insurance coverage at an advanced age, even though they desperately needed it.

If you are looking to purchase universal life coverage for a 60 year-old woman, then I recommend you consider purchasing guaranteed universal life insurance.

Guaranteed universal life insurance is permanent coverage with a special benefit that guarantees that as long as the correct premiums are paid in a timely manner, the plan cannot be canceled at any time, due to age.

This type of plan can end up paying a larger benefit, which can be especially helpful for final expenses, or if you’re wanting to make sure there’s a large sum of money when you pass.

However, it’s not necessarily the first option that I would recommend, since there are other ways to get a quality life insurance plan in place.

Strategies To Get The Best Prices

There are a few simple ways you can keep the costs down when purchasing life insurance coverage for a 60 year-old female.

I’m going to discuss those ways with you now.

Know Your Goals

It’s important that you know WHY you’re purchasing life insurance. You want to make sure that the plan you choose meets your goals.

If you want to make sure that your final expenses are covered, then choose a plan that just does that.

It’s not necessary to pay significantly more for a plan that covers WAY more than what you need. But it IS necessary to choose a plan that can at least meet the BASIC goals you have in mind.

You don’t want to be stuck paying for a plan that doesn’t even meet your basic needs.

So, decide what your goals are in purchasing a life insurance plan and then go from there.

Define Your Budget

In order to guarantee that you can pay for your life insurance plan, you need to take a look at your budget and see what you can reasonably afford.

You want to make sure that you have your life insurance coverage for the long-haul and that it doesn’t get canceled because the premiums are outside your budget range.

Maybe you live on a fixed income. If so, then this is especially important.

Make sure that you purchase a life insurance plan that you can afford so that it’s there when you need it.

Too many people have had to drop their life insurance coverage because they ended up purchasing plans that they couldn’t end up paying for.

You don’t have to be that person.

Here at Buy Life Insurance For Burial, we can help you find a quality plan that you can actually afford. We want to make sure that your coverage is there for you when you need it most.

Work With A Broker

60 Year-Old Woman Looking For Life InsuranceOne of the most important things you can do to lower your life insurance costs is to work with a qualified insurance broker.

Here at Buy Life Insurance For Burial, we specialize in life insurance plans AND we represent a variety of life insurance carriers. This means that we can take into account your budget and your goals and shop the different companies to find you the best deal.

Our goal is to find you the best life insurance coverage to meet your needs, while keeping your budget in mind.

We can help you have peace of mind, knowing that you have a quality life insurance plan in place.

Additionally, we will be here to help answer any questions you may have about your specific policy, or just life insurance in general.

In Conclusion…

So, if you’re a 60 year-old female looking to purchase life insurance, you can rest assured that you DO have options available to you.

Whether you’re simply trying to cover final expenses, or you’re looking for a large benefit to be paid when you pass away, we can help you find the coverage you’re looking for.

Here at Buy Life Insurance For Burial, we would be honored to partner with you to find the best life insurance coverage at the best price.

That way, you can have peace of mind knowing that you have coverage in place.

Don’t delay! Give us a call today!

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