Life Insurance For 79 Year Olds: We CAN Help!
last updated on March 7, 2022In this article, we’ll cover everything you need to know about life insurance for 79 year old seniors. You can read more about why you should take out life insurance at your age, what type of life insurance you should choose, and what are your options if your health isn’t the best or if you are on a fixed income.
So if you are a 79 year old looking to know more about life insurance or if you want to find good life insurance coverage for your elderly parents, you’ve come to the right place.
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Can I qualify for life insurance if my health is not the best?
As a 79 year old you should know that there are life insurance policies with first-day coverage for seniors with any health conditions including heart issues, mental health issues, cancer, lung diseases, diabetes, neurological disorders, and more.
And that’s not all.
You can qualify even if you suffer from the toughest pre-existing conditions. As long as you’re 80 years old or younger, we can offer no questions asked whole life insurance policies. These plans provide quality coverages that are otherwise almost impossible to get.
Will I need a medical exam?
When you are a 79 years old man or woman looking for a life insurance policy, you don’t always need to have a medical exam to qualify.
In fact, most of our senior clients opt for something called “simplified issue coverage” instead of taking medical exams.
How does that work?
When you apply for one of our life insurance or burial insurance policies, the company will only check your past medical history before they decide whether you are approved. They will not ask you to undergo any medical exams.
Unlike most life insurance programs that require weeks of underwriting analysis, with our life insurance options, you will get approval in a matter of seconds. So even at the age of 79, there is a quick and simple way to get a life policy.
What insurance carriers do you recommend for seniors aged 79?
It’s impossible to recommend only one company that fits every 79 years old looking for life or burial insurance. Every person’s health situation is unique and health factors vary significantly between different life insurance carriers.
Buy Life Insurance For Burial is an independent broker that carries multiple insurance companies and we have access to the best coverage options.
You can be sure to get a great policy at the best price, based on your individual needs and financial situation.
What if I’m on a fixed income? Can I afford life insurance?
At Buy Life Insurance For Burial, we will help you with a policy regardless of your budget. Many of our clients are low-income seniors. Even if you’re on a fixed income, we can always adjust the price to fit your budget.
So what are my coverage options at the age of 79?
As a 79 years old, you have the following life insurance options:
Universal life insurance
If your health is good, universal life insurance may be the right option for you. Keep in mind, however, that if it’s set up incorrectly, guaranteed universal life insurance for seniors may cancel prior to death. Otherwise, it’s a permanent insurance policy that you can’t outlive.
Whole
We usually recommend our senior clients to take out whole life insurance. This type of insurance won’t cancel due to your age or your health as long as you are paying premiums. Moreover, this is an insurance type that you can’t outlive.
Our life insurance carriers offer “simplified issue” underwriting. This means that you qualify automatically for their whole life policies without having to take a medical exam. You only need to answer a few simple health questions to be approved.
If you are on a fixed income, it’s important to know that whole life insurance rates don’t increase, and you qualify for first day full coverage.
I hear a lot of people talk about term life insurance. Should I get that?
Most seniors think that term life insurance is the best life insurance option. However, this is not always true. The reason is that term life guarantees coverage only for a certain number of years, which means that you may end up outliving the policy. In that case, you’ll be left with no insurance at all.
Term life insurance is also very difficult to qualify for. At the age of 79, you may not get approved due to your age or your underlying health issues. In addition, this type of insurance often has high premiums.
What if I still want term life insurance? Will you be able to help?
Absolutely. If you think term life is the right insurance for you, then we will do our best to find a great policy for you. We’ll choose an insurance carrier who is easier on underwriting and help you get a quality policy that suits your needs.
What about AARP and Colonial Penn? I see many television commercials about their burial insurance. Should I buy from them?
Both AARP and Colonial Penn provide coverage for the people who need it, however, you should know all the details before you make a commitment.
AARP
AARP insurance is term life insurance that cancels at age 80. That means that you risk losing your AARP term life insurance coverage very quickly.
Plus, the AARP plans go up in price every 5 years. That’s why their term coverage becomes very expensive as you age. Many seniors have to drop their AARP plans because the premiums get too expensive.
Colonial Penn
Colonial Penn’s guaranteed acceptance policy doesn’t cover for full natural death for the first two years. While you may think that this is the only type of insurance you can qualify for because your health isn’t very good, we think that it’s very likely you can find a better product.
Why would I want to take out life insurance at the age of 79?
At Buy Life Insurance For Burial, we believe that seniors your age should always consider taking out life insurance. Here’s why:
- You may want to use life insurance to cover your final expenses. In our experience, many seniors don’t have adequate life insurance coverage to pay for their funeral and burial or cremation costs. Plus, their savings often aren’t enough to cover final expenses. In fact, the most common reason why 79 year olds purchase insurance in the first place is the need to cover funeral expenses.
- You can use life insurance to pay off debt. When you’re 79 years old, you may want to buy life insurance to pay off the debt that will be left behind after your death, like mortgage or credit card debt.
- You can use life insurance to leave a legacy of love. You may want to buy life insurance in order to leave money behind to your loved ones or help your grandchildren as they start college, for example.
- Life insurance can serve as income replacement. For many 79 year olds, life insurance serves as a replacement of income loss after the death of the primary earner in the family.
Can I get coverage on my 79 year old parents?
You can buy life insurance on your parents who are 79 years old under the condition that they can sign off on the policy. The only exception to this rule is if you have power of attorney.
If your elderly parents agree for you to take out the life or burial insurance coverage for them, you can then set up payments from your account to pay policy premiums for them.
At Buy Life Insurance For Burial, we have helped many adult children get burial insurance or life insurance coverage on their parents. Don’t hesitate to get in touch with us to see how we can help you as well.
How can I get a free life insurance quote from you?
Getting a free life insurance quote from us is simple.
All you need to do is call us toll-free at 888-626-0439 to speak to one of our friendly representatives. If we’re tied up and can’t answer the phone, just leave us a voicemail and we’ll call you back as soon as possible. It only takes 5 to 10 minutes to get a quick quote for life insurance.
Alternatively, you can easily get an online quote if you don’t want to call. If you’re on a smartphone, click the button at the top to request a free quote.
If you’re on your desktop computer, fill out the information to your right then click “submit”. You’ll get to see some price options, and we’ll follow up with you shortly to discuss them with you.