How Much Life Insurance Can An 80 Year Old Get Death Has No Age

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Death Has No Age

Amazingly, most of us are not ready for death. We just ignore it. We don’t think it can happen to us at such a young age. But what is the age of death? Is it 70, 80, 90 or even 100? Of course, we can all agree that we would like to be old when we die. But, in reality, death has no age.

How can you prepare for your last days? Have you ever really thought about it? Well, today is the day to start that as part of your New Year’s resolution, to get your life in order.

Before giving you some advice, let me help you see why you should start thinking about planning your death.

(It’s a true story). A member of my immediate family passed away less than a month ago. He was 35 years old, single, father of two children. He lived the life of a carefree young man. Have a job here and there. No immediate plans for the future. He died suddenly of a heart attack. He had no money saved and no insurance. Her mother didn’t know what to do. Even her mother didn’t have money set aside for this type of emergency. So what should his mother do? She had to ask each of us in the family to help her financially bury her son. And that’s how this 35-year-old man was buried, thanks to the help of his family and donations.

Can you imagine your mother having to ask other family members or strangers for donations just to bury you? This should encourage you more to want to do the right thing.

That’s why I say, get ready. Think seriously about death. This is a big deal. I want to help you help yourself.

Now, if you don’t already have an insurance policy, get one. How to determine the amount of life insurance you will need depends on many factors. Consider the cost of complete funeral arrangements. Which could be anywhere between $8,000 and $10,000 (and possibly more).

Next, consider your current mortgage payment (especially if you don’t have life insurance on your home loan) and how many more years it will take to pay it off. I am aware of the high amount of mortgages and I am not suggesting that you get a policy that covers the entire loan. Maybe add ten percent of your mortgage payment to the amount of what your life insurance policy will be.

Also consider your current income. If you are the sole provider in the family, this will play an important role when you are gone. This means that you will have to consider that your spouse must find a job. Especially if you want your spouse and children to maintain the lifestyle they have now. Or if one of your children is going to college soon.

Yes, all of these factors come into your life. This is why planning is so important. It also takes a lot of the stress off of your family having to make these kinds of decisions.

I also recommend that you speak to an insurance agent. They can give you a better understanding of what you will need.

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