| I have a 88yr old woman for life insurance?

I have a 88yr old woman for life insurance?

Chitra R asked:


I have 77 yr old and 88 yr old ladies for Life insurance.
77 yr old wants for $100,000 without medicals.
88yr ol wants $25000 without medicals. Do u have an idea which company does Life ins for these people?

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Comments

7 Responses to “I have a 88yr old woman for life insurance?”

  1. rcdrury on July 30th, 2011 5:29 am

    You’re asking the wrong question in the wrong place.

    Almost no one in this forum has the first clue about advanced life insurance concepts; and anything beyond final expense needs at this age involves estate planning and asset preservation issues.

    You need a financial planner, not an insurance agent; and certainly not an insurance website or sales phone number. Lots of insurance companies can fill this bill. The important thing is to assess your objectives and define and carry out an appropriate strategy.

  2. car253 on July 31st, 2011 3:48 pm

    It is impossible to get life insurance at those ages and definately not worth it.

    You should have them look at taking out a trust. And prepaid on some funeral expenses instead of life insurance. Seeing a financial planner is also a good idea if they have a lot of money to protect from taxes and debts.

  3. mbrcatz on August 2nd, 2011 7:59 pm

    Not a problem, if the 77 year old is willing to pay $110,000 for the policy, and the 88 year old is willing to pay $30,000.

    If they want ODDS, though, no one will take them - they are too old.

    But if money is no object, any high risk life broker should be able to place this. It’s going to be a prepaid policy, paid in full, with administrative expenses added in. Something like this is only good for passing money outside the estate - to avoid estate taxes and such.

    But if they are looking for a policy for $1,000 a year cost, with those payouts - it doesn’t exist.

  4. Roger M on August 4th, 2011 1:16 pm

    no company writes insurance (life or medical) for people that age.

    Most stop at 70.

  5. rahul n on August 7th, 2011 3:01 am

    OFFERING LIFE INSURANCE TO PEOPLE ABOVE 70 YEARS IS A BIG RISK FOR ANY LIFE INSURANCE COMPANY AND THAT TOO WITHOUT MEDICALS SEEMS IMPOSSIBLE..]

    MOREOVER, PEOPLE AT THIS AGE DO NOT NEED LIFE INSURANCE ON THEIR OWN LIVES..LAW OF INSURANCE SAYS SO!!!

  6. Insurance guy of Indiana on August 9th, 2011 5:57 pm

    The 77 year old will have no problem getting simplified issue whole life if they are reasonably healthy. It will be pretty pricey of course. $621 per month will get her $75,000 per year of simplified issue whole life.

    The 88 year old doesn’t have any good options. She must do a single pay policy only.

    She simply waited too long.

  7. james m on August 10th, 2011 4:26 pm

    Some life insurance companies will write Single Premium Life policies on people up to 90 years of age.

    Most will issue regular WL policies up to age 80, and some to age 85, depending on your state.

    Check with your State Insurance Department to see if any company licensed in your state would underwrite the insurance.