Life Ins. at age 68

[las9842]

What is the name of your state? VT

My Grandmother lives 400 miles away from me in NY (I live in VT). She is 68 years old, occasionally smokes, takes medication for a heart condition and is in need of Life Insurance. Does anyone know who I should contact or where I should look?

 

[Betty]

Your grandmother may want to look in the yellow pages & contact an ins. agt. or broker in the area where she resides. A broker sells for more than one co. & can, therefore, send the application to more than one co. for review & opinions.

 

[Some Random Guy]

I seriously doubt that she is in need of life insurance.

Life insurance is for people who may unexpectedly die and leave their spouse or immediate children in financial peril due to the loss of their income. Since you are the adult grandchild of this person, I doubt that any life insurance is truly necessary.

But is she wants some, try google

http://www.google.com/search?hl=en&q=senior+citizen+life+insurance

 

[Betty]

When I was underwriting life ins. applications, the co. I worked for would issue policies up to age 80 - for certain amounts & certain reasons (ie final/funeral expenses).

 

[las9842]

Thanks for the useful information.

Betty, what company did you work for? Maybe I could contact them? Contacting a broker IS probably the best bet because I know so little about this kind of stuff.

Some random guy, thank you. Your correct, my grandmother isn't in need however I think the rest of my family will. My mother requested that I looked into the Life since her sisters haven't bothered. I am going to take a look into the search result and see what I find.

 

[Betty]

las9842 - I rather not give out the name of the co. I worked for but it was a major co. & we had reinsurance contracts with several other major companies all of which would issue coverage to age 80. You/your grandmother might check the yellow pages or do an internet search under various major/well known ins. cos. & see if they have a branch office in your area/your grandmother's area. (whoever needs the ins.) You/your grandmother can talk to an agt. or a broker but some agts. just work for one co. where a broker will be licensed with several different cos. A broker is particularly good if one has a "problem" such as a medical condition. The broker can send the application to more than one co. for review & offers. Of course; there is always the possibility according to the applican't history, no one may be able to make an offer & the app. will be declined.

I wasn't real positive from your last post who you were saying needs ins. - you & the rest of your family and/or your grandmother - the above still applies though.

 

[ErinGoBragh]

I agree with Betty. The best way to go is through a broker. If your grandmother smokes and is in otherwise poor health (i.e., heart condition), she may be declined a few times before you find a company to insure her. A good broker will be able to get your application to different companies and will keep on this till he finds your grandmother insurance or runs out of options.

Also, finding someone IN Vermont, as that's where the insured is, or someone willing to travel there to get the app, is a plus unless your grandmother is willing to travel. Not all brokers/agents will do that!

Good luck.