Yes. Please call us if you’d like to consolidate your insurance plans with us, and receive our unbiased advice. With over 2,000 clients, we are here to serve you for life.

The best way to get information is by calling us or using our life chat feature. Please refer to our Resources and Blog areas of the site, for a ton of information on different insurances.

Generally, seniors tend to purchase life insurance to pay for their funeral expenses, to help offset tax bills that arise at death, or to replace income for their loved ones. If you have a limited income, term life insurance is generally more affordable, and can be an ideal solution for seniors who are in good health. Most term policies have the option to renew or convert to permanent insurance, so if you outlive the term of the policy, you still have options for coverage.

Whole life insurance does not expire as long as you continue to pay required premiums. However, it is generally more expensive than term insurance, and premium rates increase significantly for older applicants. Get a quote for each type of coverage and you can see the difference in cost for yourself!

No, there are types of insurance that don’t require a medical exam. However, premiums could be much higher because the insurance companies are taking on a greater risk with guaranteed-issue or non-medical policies. If you’re in good health, you may want to consider a life insurance policy that does require medical evidence of insurability.

If you’re thinking that you may need life insurance, it’s probably a good idea to apply sooner rather than later. While it’s not too late for a new retiree to get life insurance, premium rates do increase as you age, so we think it’s best to do it as soon as you can.

Many factors are considered when insurance companies set premium rates and a quote, but the most influential factors are age, smoking status, lifestyle and health. The younger and healthier you are, the lower your rates will be, because the risk that you will pass away is lower. Other factors that can affect premium rates include gender, occupation, motor vehicle record, dangerous hobbies, and travel habits.

Additionally, term life insurance premiums tend to be lower than for permanent insurance, because you’re only insured for the term set out in the contract, generally 10 or 20 years.

You may also be wondering about guaranteed-issue or non-medical insurance premiums. Because no medical evidence of insurability is required, people who are a greater risk tend to apply for these policies. Because the insurance company is at greater risk when insuring people who are in poor health, the premiums for these policies tend to be much higher.

Most companies will not provide term coverage past a specific age, often around age 75 or 80, simply because the risk of having to make a payout is too great. This means that they will stop issuing new policies around age 65 or 70, depending on the policy’s term. This does vary by insurance company, and these are just general guidelines.

The simple answer is no. Term life insurance premiums are relatively low, covering only the cost of insurance and administration of the policy. When the term ends, you don’t get your money back.

Most policies can be converted to permanent coverage or renewed for another term up to a specific age, such as 70 or 80. If your policy is not renewable or convertible and if you want to continue coverage after the term has ended, you will have to apply for a new policy. If your health has deteriorated, you will risk higher premiums for the new policy.

There are so many factors involved in setting premium rates that it’s difficult to give a concrete answer to this question. The life insurance company that provides the cheapest rates for you may have higher rates for someone else. Please do get in touch with us to request a quote that is set per month so we can help you find the right policy for you, at the right price. At NorthWise, we make sure that you get affordable life insurance.

There are different types of term life insurance policies – some last for 10 or 20 years, and some last until a specific age, such as 65 or 100.