Is it possible to be really lean (I mean no excess visible fat) and over 50?

I reduced my weight to 160 (5' 11") with a BMI now of just slightly more than 22 and still have belly fat and some thigh fat. I would have thought all body fat would have been gone but no.
I don't see me going so light that my face cheeks draw in and everyone starts to say I look sick. (even thou I would probably feel great).

For those that have been cycling a while and are fit and trim and really lean, will the belly fat ever go away and what BMI might that be if relavant?

Greg