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The Best Term Policy Choices Over 50

By Kim S. Cambell

People who are over fifty can still find some great and affordable term policies on the market. However, when you are between 50 and 75, your needs will be different than they were when you were only 30 or 40. It is probably obvious that the same policy will cost more, and that is just because you are older. This is only one consideration though.

If a younger adult wants to buy term, they usually have some long term goals in mind. Perhaps they have just taken out a new mortgage. Perhaps they have kids they need to raise and education. Since rates will be lower, even for longer policy lengths, they will probably choose a 30 year policy.

Hopefully, as we get older, some of our obligations are almost finished. Kids may have already finished school and have gone off on their own. If not, they should be closer to doing that. We may have paid down a home loan, and so we only have a few years left to pay on it. So we may not need a thirty year term policy, and it will be alright to take a cheaper 10 year policy.

It may be fine for a middle aged person to buy ten year term so the rates will be cheaper. But since it is hard to predict the future, it may be a good idea to find an insurer that will allow the policy to be converted to a permanent policy before the length of the policy has elapsed.

This is a good idea for lots of people. The premiums will be higher for the permanent policy, it we will also be in a higher age band. But it may be fine because, hopefully, we will not need as much coverage in the future as we do today.

We know how to look for10 year term rates no matter how old you are. Our safe and simple life insurance quotes will guide you to the best US term life.

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Article Citation
MLA Style Citation:
Cambell, Kim S. "The Best Term Policy Choices Over 50." The Best Term Policy Choices Over 50. 15 Aug. 2010. uberarticles.com. 29 Dec 2014 <http://uberarticles.com/finance/finding-over-50-life-insurance-at-a-low-cost/>.

APA Style Citation:
Cambell, K (2010, August 15). The Best Term Policy Choices Over 50. Retrieved December 29, 2014, from http://uberarticles.com/finance/finding-over-50-life-insurance-at-a-low-cost/

Chicago Style Citation:
Cambell, Kim S. "The Best Term Policy Choices Over 50" uberarticles.com. http://uberarticles.com/finance/finding-over-50-life-insurance-at-a-low-cost/


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