Life insurance at 65

[bm50]

Is it possible to get life insurance at the age of 65? if so who are the best companies in Finland?

[Rip]

What are you actually looking for? Want to have some extra money for those left behind if you die earlier than you think, extra money for yourself if you live longer than the insurance company thinks or way of investing your money with some tax benefits?

[bm50]

Hi Rip, well I am really looking for is just to leave some money to cover expenses after I kick the bucket! And maybe a bit more for my son!

[Rip]

Does your son live here? My hunch is that the normal insurance part isn't likely that attractive (if the likelihood of dying isn't that remote anymore, you'll need to pay a lot for insuring against it...) while those that are more a form of an investment than an insurance make more sense if he's subject to Finnish taxation (after covering funeral expenses) than if he is not.

[bm50]

Yes my son lives here in Finland! So 65 is too old to insure?

[inkku]

Google tells you can get it up to 75yo.

[Adrian42]

So 65 is too old to insure?

It is late, and if you manage to find an insurance and the company is satisfied enough with your health to insure you, it will be expensive for obvious reasons:

If you are healthy, you will on average die within the next 15-20 years.

When you do the math, e.g. a sum of € 50,000 payable at death requires that you pay around € 300 monthly insurance premium for the rest of your life.

[bm50]

All insurance companies?

[Adrian42]

All insurance companies?

That's basic math.

Any insurance company that would charge substantially less in premiums would soon be bankrupt.