{"id":312,"date":"2023-11-27T13:52:21","date_gmt":"2023-11-27T13:52:21","guid":{"rendered":"https:\/\/policyarchitects.com\/CN\/inexpensive-life-insurance-over-60-weve-got-you-covered\/"},"modified":"2024-08-05T21:29:32","modified_gmt":"2024-08-05T21:29:32","slug":"best-life-insurance-for-seniors-over-60-in-canada","status":"publish","type":"post","link":"https:\/\/policyarchitects.com\/CN\/best-life-insurance-for-seniors-over-60-in-canada\/","title":{"rendered":"Get the Best Life Insurance for Seniors Over 60 in Canada…NOW!"},"content":{"rendered":"

Looking for the best life insurance for seniors over 60 in Canada? <\/strong>Well, we have you covered.<\/p>\n

I think you’ll be surprised to see just how reasonable premiums are.<\/p>\n

Every birthday represents a milestone in how underwriters view your risk. This is what governs how much you pay. The healthier you are, the cheaper your premiums.<\/strong><\/p>\n

…that’s because the life insurance company thinks there’s a good chance you’ll live ’til the end of your term.<\/p>\n

The older you are, the riskier it becomes to insure you – so let’s see how the big 6-0 impacts your premiums and how long a company will cover you.<\/p>\n

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Call Policy Architects for the Best Life Insurance for Seniors Over 60 in Canada TODAY!<\/strong><\/h2>\n

OK – you’re 60! It’s official! You’re headed into old-age security territory.\u00a0<\/strong><\/p>\n

Did you know in Canada, on your 65th birthday, you’re entitled to your full CPP retirement pension if you meet all the requirements?<\/p>\n

You can receive it with a reduction as early as age 60.<\/strong> If you’re fortunate enough not to need it right away, you can wait until age 70<\/a> and receive your pension with an increase or bonus.<\/p>\n

Twenty years ago, this would have been when you considered retiring to enjoy the fruits of your labor. Not so much now. People are living longer and working longer.<\/p>\n

Everybody knows 60 is the new 50, 70 is the new 60, and so on…<\/p>\n

Inexpensive Life Insurance Over 60 – It’s Cheaper Than You Imagine<\/h3>\n

Sure, the world has changed radically, but sadly, people’s perception of life insurance seems stuck in cement.<\/p>\n

They\u00a0believe life insurance is unaffordable and sales agents are shifty.<\/strong> Nothing could be further from the truth. Of course, there is the odd exception to the rule, but it’s a good business.<\/p>\n

Life insurance companies recognize the changing demographics and are creating and modifying their products to meet the demands of a more active, aging population.<\/p>\n

Most clients over 60 who come into my office looking for affordable life insurance are excited to learn how inexpensive their premiums can be.\u00a0<\/strong><\/p>\n

Okay, so what’s the deal? How can you ensure your quoted rate is the best on the market? Let’s examine how the underwriters view you right now.\u00a0<\/strong><\/p>\n

Your Circumstances <\/strong>& Inexpensive Life Insurance Over 60<\/strong><\/h3>\n

If you take nothing else away from my blog, it’s this…<\/p>\n

…the rates you’re quoted are linked to your circumstances.<\/strong> But that’s not all. Each life insurance company approaches underwriting differently<\/a>.\u00a0<\/em><\/p>\n

So what does that mean? Well, friends, let’s start with an example.<\/p>\n

Some insurers are tougher on Seniors, and others are more lenient. <\/strong>Knowing this information, you should choose the best insurer for your situation.<\/p>\n

This is why you need to speak with a knowledgeable independent agent.<\/em><\/p>\n

At Policy Architects, we perform a financial analysis and examine your medical background with a fine-tooth comb to find the perfect insurance company.<\/p>\n

…and if we have any questions, we will contact insurers to shop your case BEFORE you apply.<\/strong><\/p>\n

This is how I help clients save a ton of cash. It does pay off to have someone in your corner who’s looking after your bottom line.<\/p>\n

In a nutshell, the savings can be in the\u00a0<\/em>tens of thousands of dollars over the term of your coverage.<\/em> Let’s run through a couple of numbers to better understand<\/span>\u00a0what you’re looking at.<\/p>\n

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Picking the Right Company for YOU! The Dollars and Cents…<\/strong><\/h3>\n

A 61-year-old gentleman just walked into my office looking for inexpensive life insurance for people over 60.<\/p>\n

He’s a non-smoker but not in the best shape in the world.<\/p>\n

Understandably, he’s a little nervous about applying for life insurance. He started his family late in life and, as a result, still has children and a wife who depend on his paycheck<\/em>\u00a0to maintain their lifestyles.<\/p>\n

He estimates he needs about $250K in coverage for 20 years to protect them.<\/a>\u00a0<\/strong><\/p>\n

My client has a friend who uses Foresters and wants me to help him apply to that insurer.<\/p>\n

Hmmmmmm, well, hold on there, partner! My guess is we can get a better deal than Foresters’ offer. Sure, they are a great insurer, but are they the right fit for his circumstances?\u00a0<\/strong><\/p>\n

Let’s review the numbers to see:<\/p>\n

Foresters Life Insurance Term 20, $250K\u00a0<\/strong><\/h4>\n

Industrial Alliance Term 20, $250K<\/strong><\/h4>\n

$12,313.00 Savings <\/strong><\/p>\n

Looking for Inexpensive Life Insurance Over 60? You Better Shop Around!<\/h3>\n

Yowza! As you can see, Foresters offers substantially\u00a0higher premiums than Industrial\u00a0Alliance<\/a>.<\/p>\n

If he selects IA, he will save over $12K throughout his policy.\u00a0<\/strong><\/p>\n

That’s a lot of money; the savings are based on picking the right company. But there’s a catch.<\/p>\n

You can look at all the quotes you want online, but that doesn’t mean you get the rate you see.\u00a0<\/strong><\/p>\n

Why?<\/p>\n

To qualify, you must pass a medical exam and the full underwriting process. If you’re healthier than you think, the rates are better.<\/p>\n

If you have a condition you don’t know about, you may be rated or even declined in rare circumstances…<\/p>\n

…and incredibly, this doesn’t even tell the whole story. If the company you pick is tough on Type 2 diabetes and you are diagnosed, you may get dinged for that, too…<\/strong><\/p>\n

…not to mention the different products! Ahhh, there’s a lot to think about.<\/p>\n

You need an independent agent to help you navigate this process. It’s our job to know all the ins and outs of the insurers:<\/p>\n