Can I Get Life Insurance For My 72-Year-Old Mom?

Shawn Plummer

CEO, The Annuity Expert

Can I Get Life Insurance For My 72-Year-Old Mom?

Yes. Simplified-issue life insurance or no medical exam life insurance would be the best solution because of the limited medical underwriting. If your mom can’t get life insurance coverage due to medical reasons, annuities with enhanced death benefits might be a compromise.

Considerations

  • Age Factor: At 72, premiums can be higher.
  • Health Status: The healthier the individual, the better the rates and options.
  • Purpose: Determine if the goal is to cover final expenses, leave a legacy, or provide financial support.

Simplified-Issue Life Insurance

What is it?

  • Simplified-issue life insurance is a type of policy that requires minimal medical underwriting. It often involves answering a few health-related questions but does not require a medical exam.

Why is it suitable for seniors?

  • It’s easier to qualify for compared to traditional life insurance policies.
  • Faster approval process.
  • Ideal for those with minor health issues.

No Medical Exam Life Insurance

What is it?

Why is it suitable for seniors?

  • Beneficial for individuals with significant health issues.
  • Quick approval times.

Alternatives: Annuities with Enhanced Death Benefits

What are they?

  • An annuity is a financial product that provides a steady income stream, typically used for retirement.
  • Some annuities offer enhanced death benefits.

Why consider them?

  • Suitable if life insurance is not an option due to health.
  • Provides financial benefits to beneficiaries after the holder’s death.

Conclusion

Choosing the right life insurance or alternative financial product for a 72-year-old can provide peace of mind and financial security. Simplified-issue or no medical exam life insurance are viable options, with annuities serving as a potential alternative. Evaluate needs, health status, and financial goals to make an informed decision. Contact us today for a free quote.

Free Life Insurance Quote

Get help from a licensed financial professional. This service is free of charge.

Contact Us
First
Last

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

Scroll to Top