Life insurance is a legal contract between you and an insurance company. It is one of the important elements of financial planning. But can you go for an insurance policy if you are over 80 years of age? You may think that it is unaffordable or such an option is not available.
Usually seniors require a policy mainly to pay estate taxes or some other expenses or leave a legacy to their beneficiaries. When you are over 80 years old, you need an insurance which is most cost effective having the best rate and suits your individual situation. To know the best insurance that suits you, you could compare the rates of different companies. While looking for cheaper rates it is also important to consider the financial strength of the insurers.