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Life insurance over 80 is a good subject of concern. I want suggestion to purchase guarantee life insurance without any problem so that I can get whenever I want at premium rate. Any suggestion please?

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Policy premium will be high for an 80 yr old I would believe.
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There are 3 types of coverage available for life insurance over 80.
They are:
1. Simplified issue policies that require no medical exam. These are whole life policies that have level premiums.
2. Universal coverage for amounts or $25,000 and higher that require full underwriting with blood and urine in addition to a mental health screening.
3. Guaranteed issue policies available in most states.
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Today you may purchase guaranteed issue life insurance through age 80 in most states and through age 85 in some states. Remember that most carriers will return all premiums plus interest if the insured dies within the first two years of the policy. After that, the full death benefit is paid.
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This question came up in my feed again, so I'll add this: since I wrote, I bought a plot for my mom, as well as one for my husband and I at a local rural cemetery I really like. The plots were $3000 each, a lot cheaper than the ones I'd seen previously. I found it by doing research and shopping around.

Instead of going through the hassle of qualifying for life insurance, since dh and I both have health issues, I have started putting $150 per month in a dividend stock mutual fund. Hopefully, by the time we need it, it will be enough for 1 funeral/burial. I'm estimating that cost at 10-15k, and feeling pretty confident. At the very least, it will greatly offset the cost. In case anyone's curious, I chose the 5-star Morningstar rated T. Rowe Price Dividend Growth Fund.

I also have my mother's savings invested in a less aggressive fund. I'm hoping that earns enough to pay for her funeral. Instead of saving for her final expenses, I pay a nursing student to be with her 9 hours a week for a little extra fun and attention in the nursing home. It's a sacrifice, but she and my mother love each other, so I'm glad to do it. And if anyone's curious, I'm using Vanguard Balanced for her, a 60/40 stock/bond split.

I'm not saying anyone else should do what I did and I would never advise anyone to invest in securities unless you fully understand the risk, but this is what I'm doing to mitigate not having the money set aside for everyone's arrangements.

Yes, it would have been better if we'd all gotten life insurance when we were young and healthy, but we didn't. (Actually, mom got a low face value policy years ago that is now about enough to pay for her headstone.) And my plan won't pay out six figures, but it will allow someone to die and be buried without causing other financial strain (hopefully).
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Some elderly parents may get life insurance to handle final expense, such as credit card and medical bills, so that loved ones don't have to deal with these expenses.
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My diabetic relative had a hard time getting insurance even though she was only in her 30's,. The time to purchase it is when you are young enough to have no health problems, BIL bought modest policies for the family when they were only kids, as adults they have the option to buy more or leave the policies as paid up. You need to understand what you have though and keep inflation in mind, my mom has a policy from back in the 1960's that will pay out only a little more than the $1000 face value, it would have been much smarter to make additional contributions over the years to increase the payout.
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My MIL had one of those TV TYPE life insurance policies, which she paid into for 5 years, the exact amount of time nessasary to qualify for receiving the benifits which just covered her final burial expenses. Had she died just 2 weeks erlier, it would not have paid out, period. Read the fine print, but in her case, she understood and had hoped that she would reach the allotted time frame of 5 years, and she just barely made it. Otherwise, if you are beginning to think about end of life and burial plans, purchase a plot now, if you can, 3save the money in an envelope designated for these expenses. My Dad did exactly this, and had enough cash set aside for everything, including flowers, obituary and all of the many smaller yet very expensive things associated with funeral services. He didn't tell anyone about it, but we found it, going through his prepaid cemetery information. There was about 60 extra left over. One smart cookie, my Dad!
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JessieBelle- Also some policies stop at a certain age. If the person lives past the age expiration of the policy, then they're out of luck.
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All good answers. Life insurance is for the company to make money. They are not going to pay out more than they think they will take in on an account. When someone gets very old, there are usually conditions on the policy. The ones that you see advertised on TV that have no physical exam have high premiums and low pay-out and won't pay in the first two years for natural death. The advertiser says you pay just $19 a unit each month, but notice he doesn't say how big the unit is. These things are very tricky.

If I were 75+ and had no life insurance, I would take $100 and put it in the bank each month. In fact, that wouldn't be a bad idea for me at 64. If only the banks paid any interest, it would be better. Little guys have a hard time getting ahead these days.
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Minter you have violated terms of the site. This is spam.
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Should a senior have Life Insurance? The answer is "it depends". The factors to consider include the following:

1. Other assets owned by the senior which may be liquidated to pay debts existing at the time of death.
2. Whether the senior has a spouse or minor children to provide for after death.
3. Whether the premium on the insurance is affordable given the senior's other income/assets.
4. If whole life insurance has been maintained for a number of years, whether cash value has accumulated to an extent of being able to support the ongoing payment of premium. If cash value is applied to the payment of future premium, note that the cash value dissipates and that only death benefits become payable upon the death of the insured.
5. If anticipated funeral and burial expenses have been prepaid or otherwise provided for. A small life insurance policy can be maintained for this purpose. Alternatively, a prepaid funeral plan can be obtained, which is a type of insurance.

In many cases, a senior should have no need for life insurance. If at all possible, a savings plan should be set aside to take care of, at least, final expenses. Unfortunately, human nature dictates that most people do not save any money for events such as death and end up paying high premiums on life insurance or leaving the responsibility to others.
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I found out that the policy my father had for 30 years started to "cannibalize" itself after he hit 90. He had not read the fine print, did not know about it. So, after it "cannibalized" itself, it started sending bills for ...yes...$1800 a month......!

Lesson learned....might have been better to cash in the policy at 90, taken that money and played the stock market, given it to charity, give it to grandkids, whatever.

Agree with the others....invest the premium $ in something that somebody really needs.
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I know. It stinks. We live in NY but my mom is from SC. A plot at my local cemetery is about $10,000. A plot in SC behind the church where a lot of her relatives are buried is $1,000. It something I am considering, and not just for financial reasons. We literally have no family in this state. Another (cheaper) state is an option, as is cremation ($800) and a lovely memorial at your mom's favorite restaurant. We did this for a friend's mother who died in the World Trade Center on 9/11. The memorial, held at Sardi's in the theater district was quite beautiful and no less sacred than a funeral home memorial. Friends celebrated her life, and laughed, and cried, and prayed, anf talked about Broadway shows she'd enjoyed. The following spring I went to see "The Full Monte" in her honor. I guess what I'm really trying to say is, there are manu beautiful ways to celebrate and honor a life. Some may actually be better quality, and cost less. Good luck to you, Marauge.
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Sandeepnep12 was probably asking for the same reason I'm Googling this tonight. I just found out my 81-yr-old mother, who has no savings or assets, has borrowed against her life insurance and has only $1,000 saved to pay for her funeral. I can't afford a funeral; I'm living on social security myself. But if elderly insurance is so expensive, I can't afford it anyway. And my mother's got lots of medical issues, so she probably wouldn't get approved for it. I guess you all answered all my questions, except how in the world I'm going to pay for a funeral. Thanks.
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Most elderly people who have achieved their 80’s are looking for enough protection to provide themselves members with what is necessary to bury them and take care of their last costs. This implies that a simple life insurance for 84 year old female in new york protection is adequate. Burial life insurance over 80 plan protection is long lasting protection, which indicates that the premium never increases and the plan will last for the remainder of your life. Although it is called life insurance for 82 year olds plan, the cash compensated out from the plan can be used to pay for more than just memorial costs. It can be used for earnings alternative, making cash to heirs, or to pay other expenses remaining behind.
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HUH?
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Why spend the higher expense for elderly life insurance? Put the money in a savings or CD. However, funeral insurance makes sense.
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Life insurance is based on probabilities and actuarial tables. At 80, well you are pretty well outside the limits on those unless you are a tortoise.

What are you hoping that a life insurance policy will do?
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We do need more information. Life insurance can be an excellent savings vehicle (if that is what you are looking for). If you are looking for burial assistance, contact your local funeral home and they have low value policies that serve just that purpose. As a licensed agent for 30 years and a Certified Insurance Counselor for 25, there ARE good reasons for LIFE insurance, even at later stages of life.
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I'm nearly 70. I hope a lot of people will be sad when I die, but it will not be a financial hardship for anyone. I have a small policy that will cover burial. Beyond that I can't think why I'd want to pay premiums for (I hope) decades to leave money to someone else who is not dependent on my money?

So, why does an 80 yo need life insurance? If it is for burial, there are probably better ways to handle that need. Is it for you to be the beneficiary? Are you financially dependent on him now? Realize that after he dies you will be free to support yourself again.

I guess we are all puzzled about why you see a need for this expenditure?
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Sandy, nobody is going to insure grandpa, especially a grandpa who needs someone else to care for him. Even my husband, at age 60, was uninsurable because he had a history of heart attack and skin cancer from years ago.
Insurance companies know full well that relatives look for insurance as a way to profit from a relative's departure. They are not stupid.
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AARP has "guaranteed" life ins with no medical exam. I looked into it for my mom. I found that the face amount would be paid up by premiums in the first 6 to 7 years. Also, they won't pay if you die within 2 years. I also saw that a lot of ppl had trouble collecting; AARP claiming you were sick when you bought it (the health questions are deceptive.) I concluded that it wasn't worth it for my 79 year old mother. But you may find that it is. Good luck, but do your research first. I agree that you may be better off taking the premium amount and putting it into an interest bearing account.
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My mom wanted to renew her life insurance after her husband passed away. She was 82 at the time. I told her the same thing, just put that money into an account instead of paying someone else! Waste of money!
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Could you elaborate on what your goal would be and why you need to have this in place? You do not specify any amount at all either, so we really don't understand 'the need behind the question' here. There are a couple of suggestions above but if you would please get into more detail we could collectively be of more assistance to you.
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Why on earth do you need life insurance for such an elderly person? Do they not have their funeral pre-arranged? If that's the case, you would be better off, just making the arrangements and making payments on it Or do they still have dependents that will need support when he dies? That would be unusual. And in that case, you are likely to find the cost prohibitive. Age and physical condition will really increase the cose. (Those are the only two reasons I can think of that an over 80 might need it.) If you do go looking for low cost insurance, be careful that what you are buying is not for accidents only. I frequently see adds for low cost "guaranteed" life insurance where that stipulation is usually in the fine print . I figure that it's a pretty safe bet for the insurance company, who will likely never have to pay a dime out, as most elderly die in their beds, not as the result of an accident.
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A total waste of your money. Put the money you would have spent in premiums in a great interest-bearing savings, CD or money market account.
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