General insurance Do you think is feasible for an elderly to consider insurance?

[sincerem]

Circumstances might make a man forget his right. And if time it's not taking, the person might find himself wasting too much time and finding itself at old age. By that time, the person will try to reconsider other things he might have neglected before in order to benefit from it before he joins his ancestors.

I've seen many elderlies in my locality, who spent so much years marauding in vaingloriousness. Due to lack of finance, to finance their needs and invest in their health through insurance. When I go to ask them, if they consider insurance, some of them say 'Yes they consider.

What comes into my mind is that, 'at your old age? What will you be benefitting from it? Is it for your burial ceremonial rights? mused.

So you think its feasible for the elderlies to still consider insurance premium policy?

 

[Mika]

In my home country, there are not many options for senior citizens for insurance policies. For the people above the age of 60 t=years, there are fewer options. For instance, people above the age of 60 years can only get a life insurance policy of a maximum 5 years term, and they do not have whole life insurance.

 

[sincerem]

In my home country, there are not many options for senior citizens for insurance policies. For the people above the age of 60 t=years, there are fewer options. For instance, people above the age of 60 years can only get a life insurance policy of a maximum 5 years term, and they do not have whole life insurance.

Hmm, so what you're trying to say now is that, with the five years life insurance policy, it is expected that the customer wouldn't last past that number of years which is stipulated in the policy agreement? That's bizarre indeed, cos the beneficiary can't benefit directly from it if anything happens within that period. The people around him or her will use it for burial rights and so on.

 

[Alexandoy]

Life insurance is not for the insured but it is for the benefit of the family. When the insured dies then the family will have something for the funeral needs. In my case, I have no insurance so when I die my family will take care of the expenses. We already have a funeral arrangement that is fully paid and a columbarium for the storage of the ashes.

 

[sincerem]

Life insurance is not for the insured but it is for the benefit of the family. When the insured dies then the family will have something for the funeral needs. In my case, I have no insurance so when I die my family will take care of the expenses. We already have a funeral arrangement that is fully paid and a columbarium for the storage of the ashes.

We all know that one day all this things will occur, that's why we plan it on time and waiting for that day. But all we are praying for, is long life and prosperity. And surely we'll have course to glorify our grand creator. Life insurance is for the future benefits of the family either long time or short time as the case maybe.

 

[Setho]

I am a medical health practitioner and I know for sure that old age is associated with a lot of illnesses. It will actually be a very wise idea for an elderly person to seek health insurance though the policy is not going to be the same with somebody who is a child or of middle age.

 

[funmi]

To me, I do not think it is necessarily for elderly people to invest in insurance. At their age, it is already late for them to invest in insurance. I can not really blame the old man you talked about for not considering insurance at his early age. It could be because he was not enlightened in that area. Many people where not educated about insurance when they were much younger.

 

[sincerem]

I am a medical health practitioner and I know for sure that old age is associated with a lot of illnesses. It will actually be a very wise idea for an elderly person to seek health insurance though the policy is not going to be the same with somebody who is a child or of middle age.

Yes, the policy isn't going to affect someone that is still at its mid age or o child, young adults. They know that this people aren't a threat for their own loss. Cos they won't suffer from different health issues to another, provided they're fit when they came to endorse with their insurance company. Elderlies ate simply prone to health issues, cos they're on the brink of losing out with life.

 

[Wisdom01]

There is nothing wrong in an elderly person considering insurance , because there is property insurance policy , auto insurance policy that the elderly person might want to insure against different form of risk and not only the life insurance policy the person would actually want to cover against I think

 

[sincerem]

There is nothing wrong in an elderly person considering insurance , because there is property insurance policy , auto insurance policy that the elderly person might want to insure against different form of risk and not only the life insurance policy the person would actually want to cover against I think

Most of the insurance companies doesn't like offering policies to elderlies due to their age, they see them prone to encountering challenges to makes them losing more to offering them profit than what the elderlies bring in to the insurance company. Only few of them can consider an elder for any insurance policy plan.

 

[Chibson]

of course there is infinitely nothing wrong for an elderly person to go into an insurance premium because it can be very beneficial to them and their immediate family as the case may be. Insurance companies gives a lot of coverage and this is not monopolistic about being young or old.

 

[Mataracy]

I belive to consider this for the elderly one means its not for them to enjoy it with the little time that is remain for them but rather for their family to enjoy.
It is very good to know what to do in time than to waste so much time before realise the benefit of life insurance.

 

[Mandy96]

In some cases, it might be a good idea for an elderly person to give it a thought in the sense that it will give some kind of insurance to the person purchasing it. For example, someone of eighty years old having a life insurance will have an advantage of short term even if it is a long term life insurance

 

[btaliat]

Insurance doesn't have age limit. In fact, there are insurance policies for all ages. However, the feasibility of the insurance policy will depend on the kind of policy the elderly man wants to opt for. It will be wiser of he ventures into whole life term insurance than any other type of insurance policy

 

[sincerem]

Their are different policies for any age bracket, it depends. Their are premium which can't offer an elderly chance of securing premium due to the age being too old. While some doesn't offer infant or children below 18 years chances to get premium. If you're found in that category then you should search for the best suitable insurance premium that matches your age and with high prospect of investment return.