Fifty might seem old - unless you plan on living past 100, it means that your life is more than half over. However, people at this age today are far younger than they used to be. Think about how your grandparents looked in their 50s and 60s and beyond compared to today's grandparents.
Although growing older isn't what it used to be, you might still think that people over 50, who tend to be less healthy than their younger counterparts, can't afford to buy Life insurance. Not so.
Increased competition in today's market means that insurance companies are seeking customers of all ages– and that rates are lower than ever. More and more insurers are designing and marketing policies to people 50 and older, which means that they have a far better chance of getting Life coverage.
To help protect your loved ones with Life insurance, at a cost you can afford, we'd recommend these guidelines to a healthy lifestyle:
- Watch your weight. Having a normal Body Mass Index (generally less than 25) will improve your chances of living longer.
- Deal with any health issues. For example, if you have a condition such as high cholesterol, get it under control, whether by medication or changing your diet.
- Exercise regularly, for obvious reasons.
- If you're a smoker, kick the habit. Quitting will not only improve your health, but save you money - which you can invest in helping pay your premium.
Of course, these recommendations apply to Life insurance applicants at any age.
We'd be happy to help you find the policy that can best meet your needs - feel free to give us a call at any time.