Senior Qualifying for Policy Purchase

Generally speaking, seniors age 70 and older will usually qualify to have their life insurance policy purchased. Health conditions such as diabetes, heart disease, or pulmonary issues may bring the qualifying age down, but typically not less than age 65. The amount of premium required to keep the policy in force is also a major factor.

Policies Considered:

• Minimum face amount of $100,000
• Non-contestable policies (in place for at least 2 years)

Types of Life Insurance Policies:

• Term Life
• Whole Life
• Universal
• Group
• Variable Life
• Survivorship Life
• Adjustable Life
• Joint First to Die

Ownership of Life Insurance:

• Individual
• Trust
• Corporation
• Bank
• Partnership
• Family Limited Partnership