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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

Is life insurance coverage available for me at age 83 and, if so, how much? – Raymond

Answer:

There’s no single answer to your question. Each life insurance company has different types of policies with different specifications and limitations. Typically, when you buy life insurance you will have to go through both a medical and financial underwriting process. The medical part is pretty easy to understand – questions and exams to determine your health situation. The financial part has to do with the second part of your question, “how much?” Ultimately, you must have an “insurable interest”– a financial reason for buying the life insurance. The bottom line is that if you’re interested in life insurance you’ll have to do some research. We can tell you that with USAA Life Insurance Company at age 83 you would be eligible, subject to the above mentioned underwriting, for permanent coverage, but not term life. If you want to find out more you can give our folks a call at 877-699-2654.