Life Insurance 50+ yrs old

[Cajunhunter67]

I have Life and accidental insurance thru my employer, but would like to get additional for both my wife and I.
Possibly another 25-50k dollars.
I am a smoker with a low immune system. I do not drink alcohol. My health however is good. Heart CAT, upper and lower scope ALL good. Blood pressure is perfect and Cholesterol was 100.
My wife is in great health and has quit smoking and doesn't drink.
I really don't know where to start or what to expect as my employer insurance was the all I have ever had.
Any input, suggestions and costs would be appreciated.

[lozbasser17]

Call an insurance broker to get u some ideas and options . Everyone pricing different

[sdbrison]

10 or 20 year term life policy for that amount is very affordable

[Cajunhunter67]

Thanks guys. I will try and find a broker.
I will update my findings.

[Bamaman]

Many go online to purchase life insurance. One website can get you referred to 8-10 different companies.

When I was working, I too had paid life and disability insurance through my employer. I had the option to purchase additional life insurance at very favorable rates. Do you have the option to purchase more life insurance thru them?

I'm now of real retirement age, and type II diabetes knocks me out of life insurance. I still have $20K with MegaCorp--enough to bury me. My wife has had cancer and is uninsurable essentially. But with no adult children at home and no debts, we no longer need life insurance.

[Cajunhunter67]

I already optioned my life insurance to the max at work.
I want additional, especially for my wife.

[local16]

We got some additional life on me about 5 years ago. They will give an exam. based on my health exam, I got the best rate possible. My agent explained the difference if I had been a smoker and you won't like what he said. It would have doubled what I pay.

[ssbassman]

If you can quit smoking it will drop your cost considerably!

[Cape Fear]

Life insurance is one of the few policies that is affordable. You may have a premium that will be a little higher due to being a smoker.

[GFL]

Zander Ins or Select Quote broker options online

[n2ratfishin]

Smokers rates are about double, and they are likely going to test for nicotine. I'd find a local broker you trust and go over what your financial goals are with the policy. They should advise on your options. There are LOTS of options with life insurance.

[TampaJim]

50+ and smoker, you won't like it. My smallest term life policy will expire in 2020.
It's a $100,000 policy purchased long ago ... $199/year through PLICO. Highly rated.
To renew it in 2020, nearly $2,000/year. I don't smoke and have great numbers.
One thing for sure, only look at term life. You'll get a better rate for 10 year policies.

[n2ratfishin]

I’m like Jim. One of my policies is a 30 year term that can be converted to whole. I pay about 480 a year for 100K on that one. I bought it at 39 years old. It’s insanly high to convert at 58 years old! Outside of group insurance I’m basically uninsurable for life type insurance with my VA disability. I’m glad I planned at an early age. If I had been a smoker back then the rates were essentially double.

[robertboyd]

Zander Ins or Select Quote broker options online

Good advice. Buy term life, not some of the other variations.

[Cajunhunter67]

Thanks for all the info. Looks like term life will be the way to go.
My main concern is if something happened to my job, I still need to be able to afford a small policy.

[TampaJim]

My main concern is if something happened to my job, I still need to be able to afford a small policy.

10 year term will be the least expensive by far. Be sure you need it and only get what you need.