Is It Too Late for Life Insurance?

If you are aged 18 to 64, then it is not too late to get life insurance cover. Your maximum benefit amounts are decreased the later you wait, so it is very important that you get covered as soon as possible. No matter your age, whether you were once 24 and are now 64, life insurance is still beneficial, just in different ways.
For the older individual, getting a life insurance policy now would mean you would have a financial legacy to leave to your loved ones and they would not be burdened with your funeral expenses and any debts when the inevitable happens, but that could be 30 years from now. With life insurance cover you can be rest assured that you are planning and contributing to the well being and future of you and your beneficiaries.

With a good life insurance policy you and your beneficiaries are guaranteed benefits if you: die of natural causes; suffer an accidental death; or are diagnosed with a terminal illness. With the terminal illness benefit you can claim your full benefits if you are determined to have a terminal illness and meet the other specified criteria. That way you can get the medical help you need, pay off debts or give the money to your beneficiaries yourself.
Between the age of 60 and 64, as long as you are an Australian resident, you can get a benefit amount of between a minimum of $50,000 to a maximum of $300,000, with no medical or blood test. Just as long as you pay your premiums on time, your policy is guaranteed renewable for life.
Insurance agents are experts when it comes to providing life insurance coverage for older individuals. With life insurance policy you get many extra benefits such as:
• Joint or single cover options (if you are married your spouse will need coverage as well)
• Benefits paid for accidental death from the 1st day of your policy, (with the exception of certain specified events and causes)
• $15,000 in advanced funeral benefits paid while your claim assessment is being processed
• 30 day cooling off period with a money back guarantee
• Payment options
• Over the phone application, so you don’t have to get out of the house
• Accidental Interim death cover, if your application is delayed due to assessment
So you see, it doesn’t matter that you are older, it is still not too late and still very important that you get as much coverage as you can now. Whatever delayed your getting it in the past doesn’t matter now, what is key is that you are doing it before you reach the age of 65, if you don’t, then it will be too late. Insurance companies are here to help you with any questions and to get you the coverage you need as soon as possible. It’s never fun to think about falling seriously ill or worse yet, leaving this world, but it is a reality and one that should be taken very seriously. Planning for the fuure, no matter how long you think you are going to be around, is always the best way to go.