How to find life insurance for a person over 80 years old

Life insurance is a financial product designed to pay off debts that remain after the death of a person. However, if you are trying to acquire life insurance in old age, it can be extremely difficult. This is because at 80, you are nearing the end of your life, and it is difficult for the insurance company to invest in enough premium payments to pay the promised benefits. Many life insurance companies do not insure people over 84. To find insurance of this type at age 80, you need to understand what types of companies accept applications from people in this age group.

Contact insurance companies that specialize in deterioration risks or offer guarantees in life insurance plans. Companies that specialize in impairment risks provide life insurance for individuals who otherwise cannot buy life insurance. Those that offer life guarantee insurance offer guaranteed acceptance. These policies guarantee the death benefits that accumulate over time and are generally low or unavailable in the first years. Premiums also tend to be five to 20 times the cost of ordinary life insurance.

Request your life insurance policy. For a warranty policy, fill out a basic application. There is no medical examination required. For impairment risk insurance, you may have to do a simple health exam.

Submit the application and pay the first premium. You will receive an insurance receipt. This is proof of life insurance. Be sure to pay the premiums on time, or your policy will be void.