Over 70s life insurance

JONESGHJ

Can anyone suggest an idea for me and my wife, we are both 70 years old and had been civeredcfirvlufe and travel through our government jobs which has now, ceased as we are 70. I have looked on line for life insurance but it is so expensive. I have money set aside for our funerals and limited savings can anyone advise me in this matter. Thank you

Weighty1

Do you really need any cover apart from to cover the cost of your funeral?  That's the first thing I'd think about.
It will be expensive to get life insurance now as your age is reflected in the cost and you are more likely to due than a 40-yr old who wants a policy for 20-years say.

Silvertabby

Weighty1 beat me to it.  As long as you have paid off your mortgage, your funeral costs are sorted,  and the survivor ( because life happens) will have enough pension income to live on, do you really need life assurance?

dunstonh

Life assurance is to cover you when someone else will be financially worse off in the event of your death.    Once you are retired, most people will not have anyone that is financially worse off in the event of their death (it can happen but its not common).   So, do you have anyone that will be financially worse off in the event of your death?

Aretnap

There's an argument for life insurance if you are both dependant on one partner's pension and it doesn't have a sufficient allowance for a surviving spouse. Or if you still have dependant children - which obviously not many people do by the time they are 70. Or perhaps a small policy to pay for funeral costs, which it sounds like you have covered anyway. Maybe there are a few other situations, but once you are retired the norm is not to have life insurance. Why do you think you need it? 

sheramber

Can one of you afford to live on  their own  pension if the  other   one died.