50 years of age not late for term insurance
Retired senior citizens or those on the edge of retirement will also have some financial challenges or liabilities that are far from being settled such as home loan. And also may have dependent family members – parents, spouse and children. Though every term plan has an age eligibility criterion and may vary from one insurance company to the other as do the features of the policy. Nevertheless, if you are in your 50s, you can still buy term insurance for yourself. Here are some broad life situations that will trigger you to buy life insurance even if you are in your 50s.