No Medical Exam Life Insurance Rates for 60 Year Olds

Written on August 16, 2016 by LJM Life Insurance

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No Medical Exam Life Insurance Rates for 60 Year Olds

No Medical Exam Life Insurance Rates for 60 Year Olds are available for you here and now, enter your information and get a free Quote in seconds.

If you are doing your own quote, follow this little hint:  Check the description of the policy and be sure it says “No Medical Exam”.

If you don’t see what you are looking for or just would rather not mess with running your own quote, call 1-844-528-8688 and talk to a Licensed Life Insurance Professional, we would be happy to run the quote for you.  There is never a fee for our services, so why not take advantage and call us today.

Life Insurance over the age of 60

You know the older we get the more things change and that a applies to Life Insurance as well.  The premiums go up with age and once you get into your sixties the longer terms start to disappear.

When you go through the process of getting a straight Term Life policy you will go through underwriting and need to take an (normally) in-home medical exam.  Let’s face it nobody enjoys the exam which can be time consuming and down right unpleasant.  For many people those days are over with this term life insurance product.

No medical exam Term Life Insurance (sometimes called Non-Med Term Life).  Is exactly as the name states No Medical Exam, you answer some questions they look at some records and you’re done.  The amounts of coverage go up to $500,000.00 and you can get term lengths to 30 years on most coverage amounts.

With more and more top rated Life Insurance Companies offering this product the rates are being driven down, as they compete for your business.  There is no better time than the present to take a look at No Medical Exam Life Insurance Rates for 60 Year Olds.

No Medical Exam Life Insurance Rates for 60 Year Olds

No Medical Exam Term life insurance rates for a 60 year old male “Preferred” health class (with minimal or no health issues), monthly rates:

AMOUNT           $10,000       $25,000          $50,000       $100,000       $250,000        $500,000

10 year term        $29.08          $31.97             $37.62          $61.01           $138.04            $269.78

15 year term       $29.08           $39.68            $52.04          $82.63          $196.04            $385.78

20 year term      $29.08           $46.69            $63.74         $99.04           $221.79            $437.29

30 year term      $29.08           $66.21            $128.08       $251.83         *None               *NONE

*Rates will vary by health class and location, these are sample rates for a random zip code with person age 60 at preferred rate class. 

No Medical Exam Term life insurance rates for a 60 year old female “Preferred” health class (with minimal or no health issues), monthly rates:

AMOUNT           $10,000       $25,000          $50,000       $100,000       $250,000        $500,000

10 year term       $29.08           $25.35            $24.62         $33.60           $73.21          $140.13  

15 year term       $29.08           $29.82            $33.02          $51.42          $115.42        $224.53

20 year term      $29.08          $36.55             $46.14          $69.04          $153.06        $299.82

30 year term      $29.08          $66.21            $128.08        $251.83         *None          *None

*Rates will vary by health class and location these are sample rates for a random zip code with person age 60 at preferred rate class.

Why a No Medical Exam Term Life Insurance Policy

A No Medical Term Life Insurance Policy gives you all the benefits of  any term life insurance, the difference is that because it is designed for healthier clientele they can eliminate the medical examination.

There is still an underwriting event, but it is very simplified.  You have tobacco and non-tobacco rates, your application will have questions about your height, weight, prescriptions, driving record, and your citizenship status.No Medical Exam Life Insurance Rates for 60 Year Olds

These answers are then verified by the MIB:  The Medical Information Bureau.

Other ways of verifying your answers are a APS (attending physician statement) and a Pharmacy Report.

Why a No Medical Exam Life Insurance Policy ?

There are many reasons to look at this product, maybe you are busy and just can’t find the time or you hate needles to name a few.  With rates this low, you need to at least look to see if you qualify for this type of coverage.

No Medical Exam Life Insurance Rates for 60 Year Olds

When we talk by you calling 1-844-528-8688 we go over all options available to you, and present all the companies and pricing, so that you can make an informed choice.  We will help you determine your needs and you can then decide on what product and pricing is the perfect fit for you and your family.

Health declines as we get older, this is a simple fact.  Insurance companies know this and will reduce risk by limiting options for older clients such as term limits.  You can see by the chart below that the rates differ quite a bit for just five years difference in age.

We have even more valuable information on this page:  http://ljmlifeinsurance.com/no-medical-exam-life-insurance-over-age-60/

No Medical Exam Life Insurance if You are Age 60

There are many options for someone over the age of 60 who is looking for Life Insurance, depending on the person’s needs, health status and their budget.  Term life insurance will cover you for a set period of years, and is normally tied in with a length of major debt or time until retirement.

As you age into your sixties some of the products for term life coverage will start to disappear, the reason is that as you age the risks go up and insurance companies are not willing to take on the risk of you into your nineties.

Coverage Needs At 60 Years Old

Term Life Insurance when you are age 60 is going to give you coverage well into your retirement years and can be used to protect your spouses retirement income as well as any exposure to large debt.

The majority of people who are 60 or older have major bills close to or completely paid off and the children are out on their own, which is why the Life Insurance needs of a person in their sixties varies greatly compared to the needs of a forty year old.  See the examples below for some things to take into consideration when you are calculating how much Life Insurance you nNo Medical Exam Life Insurance Rates for 60 Year Oldseed.

  • Retirement income that will be lost for the spouse. Education expenses for any children/grandchildren
  • Household Expenses
  • Income while still working
  • Funeral Expenses

Companies With No Medical Exam Life Insurance Rates for 60 Year Olds

The list of companies offering No Medical Exam Life Insurance is growing every year and this is a good thing for someone seeking No Medical Exam Life Insurance Rates for 60 Year Olds.  It keeps the competition healthy and in turn keeps the prices competitive.

When you call us at 1-844-528-8688 we will discuss your needs and budget and look at all options available to you.  We carry the top providers of no medical expense term life insurance and will find the right product for your needs and budget.

About LJM Life Insurance
About LJM Life Insurance

We work with individuals across the nation to secure the best life insurance rates.

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