What To Know About Getting Life Insurance At An Old Age

As you might know by now, life insurance is one of the most important protections you can ever give yourself and your family. Why? That’s because, while sad to think about, death can happen at any time. When that happens, financial disaster can be right around the corner, and life insurance is there to stop any financial problems that can result from death.

Generally, it would be wise for you to purchase life insurance at a young age. This makes the policy much more affordable, and it gives you more access to differing policies that fit your needs. However, if you haven’t yet given yourself a life insurance policy or are simply delaying it for any reason, you might be wondering when it is too late to get one.

Is It Impossible To Get Life Insurance Later In One?

Simply put, no. You can always get life insurance later. However, the older you get, the more challenging it will be to get one. This is especially true when looking at standard term life insurance, as getting one at an affordable price at an old age can be next to impossible. In fact, many life insurers have age limits for certain coverage for this reason! 

Fortunately, there are other coverages out there that you can opt for even later in life, and if you’re wondering what they are, here is one great example: guaranteed issue policy.

What Is A Guaranteed Issue Policy?

A guaranteed issue life insurance policy is a type of coverage that is difficult to qualify for. This is because most standard policies require a medical exam to qualify. However, there is the option of a guaranteed issue policy, which allows you to qualify for life insurance without having to prove that you are completely healthy.

What are the Benefits of a Guaranteed Issue Policy?

There are a couple of benefits of a guaranteed issue policy:

First, you can get it even if you’re old. Many policies get out of reach when you’re passed 59, but fortunately, a guaranteed issue policy is still easy to get by then and offers decent coverage.

Second, of course, you won’t have to take a medical exam. That is great news for those who are already at an older age and are feeling their age. Taking a medical exam to qualify for a policy can be difficult and takes a lot of time. A guaranteed issue policy allows you to get the insurance coverage you need without having to prove your health.

In addition to these benefits, you also get the following:

It can be much more affordable than a standard policy.

You can choose how much coverage you want.

You can choose how long you want the policy to last.

A guaranteed issue policy gives you more flexibility, and that is fantastic news. Even if you’re too old to qualify for a standard term policy, you can still get life insurance if you want to.


As you can see, you can get life insurance at any age. But of course, getting a guaranteed issue policy is a great idea if you’re too old for a standard policy. Regardless, life insurance is never out of reach, and having them is a good idea to protect your loved ones! So, if you’re interested in grabbing a life insurance policy, get one as soon as possible. The earlier, the better!

Kirkham Insurance is one of the leading insurance companies in Lethbridge, offering a wide range of policies that cover cars, homes, and more. If you are looking for life insurance policies, get in touch with us today!

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