Life insurance at 69

Life insurance at 69

Many people are not sure about life insurance at 69. There are many common questions.

“Why do I need it at all?” … “Won’t it be expensive?” 

Life insurance at 69

“I just don’t have the time.”

Number one ….you need life insurance because people rely on you and your income.

Number two … life insurance at 69 is more affordable than you think.

Number three … just make the time to get in touch with Ogletree Financial Services.

Nothing is more important than protecting the financial security of the ones you love.

We also hear this quite a lot: “Life insurance at 69 is too expensive.”

Not necessarily so. Many of the shorter term coverage that people seeking life insurance at 69 are interested have very affordable premiums. Getting the coverage you need will probably be less expensive than you have feared.  You can even use a no medical exam underwriting policy to make buying life insurance easy.

We’ll quickly look at four basic life insurance questions, show you some sample quotes, then all that’s left is getting in touch with an independent agent from Ogletree Financial Services to get moving towards the life insurance coverage you know you need.

What is term versus permanent life insurance?
Why do I need life insurance at 69?
How much life insurance do I need?
How much does life insurance at 69 cost?

If this is not the information you are looking for, don’t worry! We have the answers and are ready to get you started right away!

Life insurance at 69

And getting started is easy!

> Give us call at 1-800-712-8519!
> Leave us a message on our contact page to get a custom quote!
> Use the free term quoter on the left side of this page!

What is term versus permanent life insurance?
This is a question we hear a lot. First, what term and permanent life insurance have in common, the death benefit. The death benefit is the amount the beneficiaries of your policy will receive when you pass away.

The two main differences between term and permanent life insurance are the length of your contract and the cash accounts that are only attached to permanent policies.

Term life insurance lasts for the “term,” or length, of your contract. Permanent policies do not expire as long as you continue to pay your premium. Some financial obligations, such as paying off a mortgage, will pass, other obligations, such as providing an inheritance or covering final expenses, will not.

The cash accounts connected to permanent life insurance policies do make these policies more expensive and complicated than a simple and inexpensive term policy.

On the other hand, these cash accounts can also turn your life insurance coverage into an integral part of your financial portfolio. There are a variety of ways these accounts accumulate tax-free interest that you can access for any expense you choose through withdrawals and policy loans.

Life insurance at 69

Many people have heard of indexed universal life (IUL), a type of permanent life insurance that earns interest based on the performance of a stock market index that you choose, such as the S&P 500 of the Dow Jones. What attracts many to IUL is that even if the index you choose takes a dive, your cash account will not decrease in value. You are able to participate in market gains, while being protected from market loss.

We are IUL experts at Ogletree Financial Services. While this article is primarily oriented towards term life insurance and the sample quotes we provide are for term coverage, we have included links to a few IUL articles in case you are interested.

Why do I need life insurance at 69?
You need life insurance because even though the kids are on their own, the house is paid off and your retirement plans are coming together nicely, your income is still relied upon. If you were to pass away unexpectedly, who would suffer financially? This is why you need life insurance.

Life insurance at 69

Certainly, your spouse is relying on your income for support. Are you also caring for a disabled child or an elderly parent? What you want to do is identify where the sudden loss of your income would cause financial distress. Next, what dollar amount would it take to indemnify, or return financial stability to, each of these instances?

Your spouse relies on your income not only from day-to-day, but also for your retirement plans. If you are still building towards your golden years, you’ll want to plan for this when considering your life insurance plans.

4 Minutes to a Better Retirement using Indexed Universal Life Insurance
Little known secret to get more pension income at retirement
Six Reasons to use IUL in Retirement Planning
IUL used for Retirement?

If you have any debts you are still paying down, you may want your life insurance coverage to address this situation. If this were to fall upon your family, it could lead to years of financial distress.

Indexed Universal Life for Mortgage Protection?

Many clients want to leave something to those they love and care about. Life insurance at 69 often includes an inheritance or a cash legacy left to a favorite charity.

Life insurance at 69

How much life insurance do I need?
The amount of life insurance coverage you will need will require an examination of your household’s present financial status and future financial goals. You will have to identify where the loss of your salary will cause problems for the people you love and care about.

 Often, an income replacement approach is used to help determine a client’s proper amount of life insurance coverage. What portion of your income is necessary to continue the necessary financial support you provide to those you love?

First, you need to determine the amount of income necessary to support your loved ones when you are gone.
Second, we need to figure out what lump sum amount that you will leave your loved ones would earn the desired yearly income.

For example, if you decide your spouse would need a $15,000 a year supplement to continue after you’re gone, and assume the amount you leave will earn interest at a 5% interest rate, then your benefit would need to be $300,000. It important to note that this original $300K stays intake to be used for other important family needs.

Other coverage needs, such as unpaid debt, inheritances, and charitable donations willhave to be considered individually and include in your coverage amounts. Working with an independent agent should be sounding more and more like the only way to secure the proper life insurance coverage for you and your family.

Life insurance at 69

How much does life insurance at 69 cost?
Much less than most people think! It should be no problem for you to find a balance between the coverage you want and the coverage you can afford. As you check out the following sample life insurance quotes, notice how inexpensive the shorter policies with lower face values can be. Many in the sixties are looking for these very affordable policies that will get them and their spouse to their retirement.

Your health category (or risk rating, risk category, etc.; different insurers often use different terms to classify their clients based on the risk of insuring their lives) will be decided by underwriters who consider a variety of factors in your life, including age, sex, tobacco use, health, occupation and many others.

Following are four tables with sample monthly premiums for a 69-year-old male and female. The quotes provided represent a range of premiums a 69-year-old might pay for a fully underwritten life insurance policy.

> The sample quotes shown here are for term life insurance.
> These quotes are for non-smokers.
> There is a table for a preferred plus health category and one for a standard health category.
> Term lengths of 10, 15, and 20 years, and face values of $100,000, $250,000, $500,00 and $1,000,000 are shown.
> These are only sample monthly premiums; your premium will be based on how your unique risk is assessed.
> These sample quotes were gathered in August of 2016.

69-year-old Male Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker


69-year-old Male Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker


69-year-old Female Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker


69-year-old Female Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker


Life insurance at 69

If you are serious about securing this protection for your family, there is no reason to wait. Reach out to us right now and get this started today.

life insurance at 69
  • Give us call at 1-800-712-8519!
  • Leave us a message on our contact page to get a custom quote!
  • Use the free term quoter on the left side of this page!