Yes, a 70 year old can have life insurance. In fact, life insurance is one of the best ways to secure your family's financial future, no matter your age.
There are two types of life insurance: term life insurance and whole life insurance. Term life insurance provides coverage for a set period of time, typically 10-30 years. Whole life insurance provides coverage for your entire life.
Both types of life insurance have benefits for seniors. Term life insurance can be a great way to cover final expenses, like funeral costs and any outstanding debts. Whole life insurance can be used as a retirement planning tool, since it builds cash value over time that can be used for anything you want, including living expenses in retirement.
No matter your age, life insurance is an important part of financial planning. If you have dependents, life insurance can help make sure they are taken care of financially if something happens to you. If you don't have dependents, life insurance can be used to leave a financial legacy for your loved ones or favorite charity.
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