Buying a $30,000 Life Insurance Policy for Men over 60

Can men over sixty buy $30,000 of life insurance coverage?

Yes. There are life insurers that offer coverage for men over sixty years of age.

There are two basic types of life insurance: Term Life Insurance and Permanent (Whole) Life Insurance.

Term life is the most affordable coverage lasting for a duration of 30 years or less because it is temporary coverage you may outlive, and it provides only a death benefit, no cash value.

Whereas permanent life insurance provides lifetime protection, a death benefit and builds cash value.

Permanent life insurance can cost ups to 5-10 times more than term life insurance. People over 60 may buy other types of life insurance plans.

There are even guaranteed issue life insurance policies for people ages 45 to 85 that offer up to $25,000 of lifetime life insurance coverage.

You can choose from those options to fit your specific needs and budget.

However, if you have serious health issues, a guaranteed life insurance plan may be an option to consider.

Learn more about buying a $30,000 life insurance policy for men over 60 years old.