When purchasing life insurance at 62 years old, it’s important to understand how critical your health is to the life insurance approval process. Whether you are fortunate enough to enjoy excellent health or have pre-existing medical conditions, at Huntley Wealth Insurance, we specialize in obtaining the most affordable policy for our clients in their 60’s. And whether you need term insurance or whole life coverage, we have all the information a 62 year old needs for life insurance.
As an independent agency, we represent various life insurance companies, but our allegiance is to you. When searching for 62 year old life insurance, just about everyone takes some sort of medication, so it pays to have an agent find the life insurance company best for your particular medical history. At 62 years old, all policy options are available to you, such as 10 to 20 year term life insurance, and thanks to Genworth, even 30 year term is now offered to individuals over age 60, and of course whole life as well. Your only concern is obtaining the best priced policy with a financially secure company when getting instant quotes for life insurance policies at 62 years old.
Term or Whole Life Insurance at 62 Years Old
Some of my clients still need lifetime coverage at age 62, which means they buy a type of permanent insurance such as whole life insurance or universal life. But the majority of my clients who purchase life insurance at age 62 only need coverage for 10, 15, or 20 years. If this is your situation, term life insurance is the answer for you. Guaranteed term life insurance offers level premiums for a period of 10 to 30 years at a lower cost than whole life insurance.
Sample Quotes for Life Insurance at 62 Years Old
See the sample quotes for a male or female in excellent health, who can qualify for the best insurance rating at the age of 62, which is “preferred best non-tobacco” rating class. Please remember not everyone can qualify for the rates below. If you take any medications or have any past or current medical conditions, call us for a more accurate quote.
20 Year Term Life Insurance:
Death Benefit $500,000 $1,000,000
62 Year Old Male $3285/year $6255 per year
62 Year Old Female $2125/year $4055 per year
Guaranteed Level Premiums for Whole Life:
Death Benefit $100,000 $250,000
Male – Age 62 $1612/year $3963 per year
Female – Age 62 $1322/year $3168 per year
Please note quotes are accurate as of 4/5/2011, but could be subject to increase. Also, remember your premium may be higher if you cannot qualify for the best rating class.
Take the guesswork out of shopping for life insurance for 62 year olds. First, please use our quote form on the right to compare quotes from over 100 top providers. The instant you click on Compare Now, the next page will display your quotes without making you complete several pages of questions like some other life insurance websites. For life insurance at age 62, you’ll also benefit greatly by speaking to us directly and sharing your personal story so we can shop your case for the best deal.*Written by Chris Huntley. Huntley Wealth Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.