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Multi generational family happy to get the best baby boomer life insurance


Baby Boomers and
Life Insurance

Need help figuring out the best policy? 


The independent agents at LifeNet Insurance are ready to assist you and make the decisions easy.

Life Insurance for Baby Boomers 

If you were born between 1946 and 1964, you’re part of the baby boomer generation. You’re between the ages of mid 50's and early 70’s, and it’s hard to believe, but the younger years are a thing of the past. What does this mean regarding affordable life insurance?


Finding the best life insurance for baby boomers can be Middle age couple researching on line for baby boomers best life insurancedifficult considering that age has a significant impact on cost. The cost difference between finding the best life insurance for seniors in their 50’s and seniors in their 60’s is different. Health conditions also impact cost, and with age the amount of health issues baby boomers face can be overwhelming.


Our independent life insurance agents can assist you when you’re looking for the most affordable choices of life insurance for baby boomers.   


.                     Free eBook                     . .           The Seniors Guide to Life Insurance             .                                                                                                   

How Life Insurance for Baby Boomers Works

Baby Boomers in Their 50's

What are the best life insurance options for baby boomers in their 50’s? The reason you need coverage will help determine if term life insurance or permanent life insurance will best suit you.

Many other factors are also considered when securing affordable life insurance coverage in your 50’s. Whether you’re a smoker, have health risks, your specified age, and your build (height and weight) determine qualification. These factors will impact the cost of your life insurance policy.

If you have a term policy that is about to expire, you may be able to convert it into permanent coverage without any underwriting. If your health has taken a turn for the worst, this may be your best option. See below for more information on term life conversions.

We specialize in helping you secure affordable coverage without the stress and anxiety of doing it on your own.

If you have an employer-based life insurance policy, it is usually 1 to 3 times your salary, which likely isn’t enough coverage for  your family. If you change jobs the life insurance may be able to go with you, but it’s often much more expensive than coverage you buy privately. Work-based life insurance should never be your primary coverage due to the risk of changing employers.

Baby Boomer: 60's and Up

The best life insurance for seniors differs with age. The difference in pricing between your 30’s and 60’s is HUGE, and the differences continue to grow every year.

Life insurance carriers require more “proof” when you’re 60 than when you’re 30, and participating in annual medical checkups and following doctor’s orders regarding medication and health are helpful. Most 30 year olds are very healthy while most 60+ year olds have one or more health issues. 

In addition, the underwriting process can become more complicated at 60 and up. If you have a medical history that’s complicated, the underwriting process will most certainly be more thorough. We have access to an independent underwriter that offers the expertise needed to point you to the right carrier. All companies underwrite slightly different. Our job is to get you to the right company for your insurance.

Whatever life insurance coverage you’re looking for, out agents will help you every step of the way to find you the affordable coverage that suits you and your family.

Hands holding up a why? sign for why baby boomers need life insurance

Why Baby Boomers Need Coverage


As you age, it’s even more important to find the best life insurance coverage. Below are the most common reasons clients seek coverage beyond middle age.


1.Having children or grandchildren that are still in need of cash for school

2. Leaving money for a spouse to continue living with your current quality of life.

3. Having a special needs child, grandchild or spouse who will need lifetime coverage.

4. There are many other reasons why you may still need life insurance.

There are so many other reasons why securing a life insurance policy is a smart decision for baby boomers. Discussing with your spouse or family why you need life insurance coverage is important before coming to any of our professional agents for a quote. Setting your goals for coverage will help your agent secure the right type of policy for you.

Term life insurance policies and universal life insurance policies handle different time periods of coverage that are also important for you to discuss. Which do you think you need? Here are some factors to consider:

  • Is more coverage needed than what I have now?
  • Is a term policy needed? If so, let's consider the conversion options.
  • Is a permanent policy needed? If so, what type is best for me?

Length, face amount, health, and age are huge factors when finding the best life insurance for baby boomers. Again, who you are protecting will play a huge part when deciding the amount of coverage you want and the type of policy you need.   Contact us today to learn more!

Opportunity just ahead sign on a curved road for term conversion explained


Term Conversion Explained


One of the most important factors when purchasing term life insurance is term conversion. How long does the conversation option last and what type of life insurance can be purchased?


Most term life insurance policies have this benefit built into the policy. This free benefit can protect you from unexpected health changes if you continue to need coverage later in life.

Most term life insurance contractually offers the ability of the owner of the policy to convert their policy into a permanent policy at the same health rating without evidence of insurability. This means that at any time during the specified conversion period you can trade-in your current term policy for a universal or whole life policy. This conversion period is extremely valuable if your health has changed significantly throughout the life of your term policy.

There are two questions you need to ask when considering a term life insurance policy.

  • What age does my conversion option end?
  • What type of policy can I convert to?

For example, if you’re 55 and wish to purchase a 20-year level premium term policy, you should examine when the conversion period ends. Some policies might end at age 60 while other carriers offer conversion until age 75. Choosing to have a longer conversion period may affect the cost of your premium as the companies offering it may not be the least expensive choice. The cost for the extra may not be a big difference on a monthly basis. Ask your agent.

If term life insurance for seniors and baby boomers is the best option for you and your family, consider the factors as to why you’re purchasing a term policy to begin with. That will define how important the conversion period is to you.

The type of policy you can convert to is another specified factor that will be pre-determined when you purchase your term life insurance policy. The type of policies you can convert to are permanent policies, either whole life or universal life. Some offer better guarantees and premiums than other.

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Next Steps to Getting Affordable Life Insurance for Baby Boomers 


Finding the best life insurance for seniors can be challenging, and choosing life insurance for baby boomers requires an attention to detail and consideration of a many different factors. Speaking with one of our independent agents about what life insurance coverage is best for you will relieve the stress and confusion of navigating the various policy options.

Call us today to speak to a professional life insurance agent and discuss your free quote!

Get in Touch with LifeNet