While it’s known that the best time to get life insurance is as a young adult, for one reason or another, not everyone can do it at that stage and look to get one when they reach old age.
MEXICO.- In Mexicoa person of the third age or majority is considered a person from the age of 60.
In addition to coverage in the event of death, some insurances offer additional benefits such as home health care, ambulance services, roadside or home assistance, which can be used by the insured or extended to the beneficiaries. | pixels
If you are in this age group and are looking for life insurance, it is possible to do so, although you should know that the cost may be higher and with many entities, acceptance will largely depend on your state of health.
As we have already mentioned, although it can be a complicated task, it is not impossible to access life insurance for the elderly.
will just have to have patienceprobably ask in different places and if you have any doubts about insurance, ask the council adviser until you are sure Be clear about all information.
It is important to know the characteristics and types of life insurance so you can contract the most appropriate and closest to your expectations. In life insurance there are term life insurance and whole life insurance, we will explain this in more detail right away.
Whole life insurance: whole life insurance is life, i.e. it will last for the entire life of the insured and will always be collected. Once the negotiation is reached, there is no maximum age for staying in the policy.
The insurance premium or the contribution paid will also be for life and the cost will remain stable, it will not increase due to factors of inflation or age. This variation may be the most suitable when looking for life insurance for the elderly.
Life insurance: On the other hand, temporary or risk insurance has an age limit for renewing the policy, i.e. it is a fixed-term insurance, if at the end of this term the insured lives, the amount paid cannot be recovered. Generally, the term can vary from 65 to 80 years, depending on the entity.
The contribution and renewal will be annual and may increase according to the age of the insured and inflation. If what you are looking for is life insurance for people over the age of 70, you may not be able to access this type of insurance, or if you do, it is important that you ask about all the conditions.
In addition to coverage in the event of deathsome insurances offer more benefits such as home health care, ambulanceroadside or home assistance, which can be used by the insured or extended to the beneficiaries.
Source: BBVA Mexico
