Life Insurance

State life and health insurance guaranty associations are designed to protect policyholders in case an insurer becomes insolvent. While it is rare for these associations to run out of funds, there is a possibility in extreme circumstances where multiple insurers fail simultaneously. However, state insurance departments actively monitor the financial health of insurers to prevent such situations.

Gerber Life Insurance typically offers affordable coverage options, particularly for children and young adults. Premium rates can vary based on factors such as age, coverage amount, and health status. It's best to get a personalized quote to determine the cost for your specific situation.

Typically, most insurance companies do not offer level premium decreasing term life insurance for individuals at age 87. At this age, options for life insurance may be limited and more expensive due to the higher risk of mortality. It's advisable to consult with multiple insurance providers to explore available options.

Yes, a grandparent can take out life insurance on a grandchild with the grandparent as the policy owner and beneficiary. However, it's important to consider factors like insurable interest and consent from the child's parent or guardian before proceeding with the policy. Consulting with an insurance agent or attorney would be recommended to ensure all legal and financial implications are understood.

Life of Georgia was purchased by Jackson National Life Insurance Company. Life insurance companies do not go out of business, they always merge or are purchased by another company. Jackson National Life is a large and well respected insurance company and is one of the biggest especially with Independent Insurance Agencies. You can look up both of them on the internet. Life of Georgia has a website at lifeofgeorgia.com, and that's where I would go first. It should be relatively easy if you have the policy number and are the beneficiary. For full disclosure, I own and operate a small Independent Insurance Agency in Georgia and have for the past 22 years. I also worked for a direct writer for the 3 years before that.

You can contact the current insurance company that acquired Southland Life Insurance Company or check with your state's insurance department for information on the policy's validity. Provide policy details, such as the policy number and insured individual's information, to help with the search.

I do not have access to personal information or specific policies. If you have questions or need assistance with your policy, I recommend contacting your insurance provider directly.

It generally depends on the individual's needs, budget, and goals. Term life insurance may be more affordable and suitable for covering a specific time frame with high coverage needs, while whole life insurance offers lifelong coverage and a cash value component that could be useful for estate planning or final expenses. Consulting with a financial advisor can help determine the best option for older individuals.

Yes, you can turn in the policy and receive the cash value. However, the amount of money you receive will depend upon your age, how long you have had your insurance and the policy's benefit amount.

Yes, many life insurance companies offer life insurance to applicants who are 81 and still insurable. Expect a lot of questions about your need for life insurance, your finances and your health.

No, premiums for term life insurance typically increase as people get older because as they age, they are considered at a higher risk of death and therefore more expensive to insure.

It's possible that a life insurance policy from 1946 is still valid, but you should contact the insurance company to verify the policy's status. Insurance policies can vary in terms of their conditions and expiration dates.

It is less likely for an 88-year-old with dementia to be approved for long-term care insurance due to their age and medical condition. Insurers consider factors like cognitive impairment and age when evaluating applications for long-term care coverage. It's best to consult with insurance providers to assess eligibility and discuss available options.

Yes, there are insurance providers who offer life insurance policies for seniors aged 87. However, premiums may be higher due to the increased risk associated with age. It's advisable to shop around and compare quotes from different insurers to find the best coverage.

The life expectancy for an 81-year-old man in the United States is around 9 years, but this can vary based on individual health, lifestyle, and other factors. It is important for individuals in this age group to continue prioritizing their health and well-being to maximize their quality of life.

A 92-year-old can typically purchase life insurance through specialized insurance companies that offer coverage for seniors. However, premiums for older individuals are generally higher due to the increased risk of mortality. It's important for them to compare rates and coverage options to find a policy that suits their needs.

At age 87 I would imagine you have a whole life policy and it is probably paying dividends. The dividends may be enough to pay the annual premium or at the very least a portion of it. If this is the case you could probably arrange for such and no longer make premium payments. Call the insurance companies customer service department or your agent and inquire. Be careful of churning where they may suggest using cash values of one policy to take out and pay for another policy.

You can typically request old policy documents from the insurance company directly by contacting their customer service or claims department. Be prepared to provide details such as the policyholder's name, policy number, and the period for which you need the information. If the insurance company no longer exists, you may need to contact the state insurance department for assistance.

No, the amount of life insurance coverage typically remains the same throughout the policy term, as long as premiums are paid. However, the cost of life insurance premiums may increase as you get older.

Why not? Of course, especially if there is an "insurable interest." Just by virtue of the family relationship, this would be allowed as long as the amount was justifiable (financial underwriting).

If the policy was taken out a long time ago it was likely to have been taken out with either LV= or Royal Liver friendly societies as these are the 2 biggest companies still left from that era. If you can provide these companies with a date of commencement and the age the person would have been when the policy was taken out I'm sure they will be able to check there paid up records for your policy.

nobody. unless you have a great policy in effect that you bought when you were much younger, there isnt a policy for you. I have been searching for my 91 year old grandfathers insurance plan at aarp, met life, hartford, new york life, etc... nobody will take over age 85. most wont take over age 74. think about it from their point of view. the reason they are in business is because they get monthly payments for many years. if you are 91, they will not be making money (most likely). they will probably lose money.

I know of one company that goes to age 99 (AXA Equitable) and one that goes to age 89 and no exam required (Genworth Life - simplified whole life). mcdlife.com

CLOAS is a software package for use in the insurance industry. It was originally created by an Australian company, Computations, and is used by a small number of companies around the world. The acronym CLOAS stands for Computations Life Office Administration System.

The benefit period for long term care insurance can vary and typically ranges from two to five years. Some policies offer lifetime coverage, providing benefits for as long as the insured requires long term care. It's important to carefully review your policy to understand the specifics of the benefit period.