I’m 70 years old. Is it too late to buy life insurance ?

There are times when loved ones will face a variety of concerns, including the eventual loss of a parent or grandparent. Even though it is hard to think about dying, it is also important when it comes to protecting loved ones from financial challenges that may otherwise arise. It might seem that 70 years old is too old to buy life insurance, but there are policies that will allow older men and women to purchase a policy.

Whole Life Plans

A whole life policy is designed to carry forward and pay out, regardless of the age of the individual when he or she dies. Although it is less expensive when the policy is purchased at a younger age, many insurers will provide coverage for older adults who may want to ensure that loved ones will not face financial burdens.

Guaranteed Policies

If you discover that a whole life policy is not appropriate for your needs or budget, then a guaranteed life plan may be more appropriate. Some insurers will only provide new policies to individuals who are in good health. Even though you may be in good health for your age, there is always the possibility that you can have underlying health concerns.

Guaranteed plans do not necessarily require a health evaluation and may be available, regardless of age or current conditions that may limit your options. The plan is usually more expensive to purchase, but it is also guaranteed to pay out as long as you provide accurate information on your application.

While older adults may not qualify for certain types of plans that are designed for younger individuals, there are life insurance policies that are appropriate for your needs. Contact us to speak to an agent for more details.

Will My Homeowner Insurance Policy Give Me Any Coverage for My RV ?

Whether you have a RV that moves under its own power, or a tow-along recreational vehicle, chances are its sitting on your property throughout most of the year. During that time that it is being stored in the driveway or garage, it’s reasonable to assume that your homeowners insurance policy would cover the vehicle if something happened to it when it’s on your property. However, that may not always be the case.

Look over your homeowners insurance policy carefully to see what types of stored assets it covers. The policy may not have enough covered value to handle a loss of the RV, or not cover all the systems in the RV.

RV specific insurance helps to cover everything that could go wrong with the RV. This is important when it comes to getting the full value of the vehicle, as well as its contents, if something goes wrong on your property or while you’re out on the road. Recreational vehicle insurance acts as auto insurance, homeowners insurance, and property insurance while you are driving around. If the recreational vehicle is self powered, such as a full motor home, it needs insurance that meets the state minimum coverage for auto insurance. In addition, it has systems like a house, such as plumbing and cooling. Finally, any personal property that you keep in the vehicle needs coverage in case it is lost or stolen. While you can get away with only holding liability coverage in most states, it’s advisable to have more extensive insurance options due to the damages that could incur if there is an issue with the vehicle.