Every year, we speak with dozens of people—often in their 70s and 80s—who call us hoping to purchase life insurance for the first time. Many of them are kind, responsible people who truly want to do the right thing for their spouse or family. Unfortunately, far too many of these conversations end with disappointment, frustration, and regret.
Why? Because waiting too long can severely limit your options.
The Myth of “Cheap Life Insurance Later in Life”
Television ads make it look easy.
“Guaranteed coverage.”
“Affordable rates.”
“No medical exam.”
What they don’t tell you is the whole truth.
By the time someone reaches their 70s or 80s, especially if they are taking multiple medications or managing chronic conditions, six-figure life insurance coverage for $50 a month simply does not exist. Those advertisements often refer to very small term policies on young people. If it sounds too good to be true, it probably it. And in this case, those advertisements are simply marketing campaigns to get the phones ringing. The actual cost of coverage is going to depend on your age and your health.
A Story We See Far Too Often
One couple I personally know had been married for over 49 years. The husband passed away, and the wife was left with no life insurance, no savings, and not enough income since their household relied on two Social Security benefits. With her husband passing, the lower of the two benefits came to a halt leaving her with the higher of the two benefits. However, it was not enough to cover the monthly household expenses. and she was forced to sell the house quickly at a lower price to stay out of foreclosure.
She told me, “We always thought we’d take care of it later.”
Later never came.
Instead, her children had to step in to pay for the funeral expenses and she had to move in with one of them. This compounded the stress since they were grieving the loss of a loved one but also reeling the financial loss and devastation due to lack of planning. These are situations that can be avoided, but they happen every day.
Why Age and Health Matter So Much
Life insurance is priced based on age and health. As we age:
- Premiums increase as we age
- Health conditions accumulate
- Medications impact eligibility
- Coverage amounts decrease
This is not about fear—it’s about math and underwriting reality.
The younger and healthier you are, the more options you have and the more affordable coverage becomes. Once health declines, choices narrow quickly.
Relying on Work Coverage Is a Risky Mistake
If you have a spouse or children who rely on your income and all you have is life insurance through work, you are putting your family at serious risk.
Employer coverage:
- Often ends when you leave your job
- Is usually not portable
- Is rarely enough to protect your family long-term
If you were to pass away—or become too ill to work—your family could face financial devastation very quickly.
Today’s Life Insurance Is More Powerful Than Ever
The good news? Life insurance has evolved.
Many modern policies include living benefits, which may allow you to access a portion of your death benefit while you are still alive if you are diagnosed with a chronic, critical, or terminal illness (subject to policy terms and eligibility). This can help:
- Replace lost income
- Cover medical or caregiving costs
- Keep your household financially stable during a crisis
This isn’t just about death—it’s about protecting your family while you’re living.
You Will Never Be Younger Than You Are Today
That simple truth cannot be overstated.
Waiting doesn’t make life insurance cheaper.
Waiting doesn’t create more options.
Waiting only shifts the burden to the people you love most.
At Brightside Financial, we specialize in helping families and individuals find customized, realistic solutions based on their age, health, and budget. We work with multiple highly rated carriers to find the best possible terms, not one-size-fits-all policies.
Take Responsibility. Take Action.
If you care about your family, now is the time to act.
Don’t leave your loved ones with bills, stress, or impossible decisions during the hardest moments of their lives. A simple conversation today can change everything.
👉 Contact Brightside Financial to review your options, understand what you qualify for, and put a plan in place that truly protects your family.
Your family is depending on you.
Let’s get this done—together.
