Life Insurance

[Anonymous]

My age is 65 and I was looking for an insurance policy. Is there any policy for age above 50, if it is then please recommend me some good and reputed companies. Thanks in advance!!!!!

[Anonymous]

Why do you feel you need life insurance? Life insurance is mainly used to replace income lost when the policyholder dies. Are you still working and does someone depend on your income?

[Anonymous]

"Why do you feel you need life insurance?"
Former agent here. Most of us are not independently wealthy (ok maybe on dcum more than usual are wealthy lol) and we need to replace lost income, provide for our families/children, and make sure someone is able to pay for our arrangements once we're dead.

here's a good article that explains (on the last page) how to check S&P ratings or Best ratings to ensure you choose a reputable company.
http://money.cnn.com/magazines/moneymag/money101/lesson20/index.htm

[Anonymous]

Anonymous wrote:"Why do you feel you need life insurance?"
Former agent here. Most of us are not independently wealthy (ok maybe on dcum more than usual are wealthy lol) and we need to replace lost income, provide for our families/children, and make sure someone is able to pay for our arrangements once we're dead.

here's a good article that explains (on the last page) how to check S&P ratings or Best ratings to ensure you choose a reputable company.
http://money.cnn.com/magazines/moneymag/money101/lesson20/index.htm

Well, yes, but someone who is 65 will presumably have less income, and will hopefully have some retirement savings that could be used if something awful did happen. On the other hand, life insurance premiums are likely to be exorbitant.

[Anonymous]

She can always prepay her final expenses, if that's the concern.

I just don't see the need to pay for life insurance if no one depends on your income. If there are shared costs that must be covered (for example, a mortgage that is not yet paid off) then you can set aside savings to cover that or buy mortgage insurance.

Life insurance at 65 is probably going to cost an arm and a leg.