Finding The Best Life Insurance For Seniors
It may be thought that the older you are the more it will cost and the more difficult it is to find the best life insurance for seniors. The fact of the matter is that it is never too late or too difficult to find the best policy for your future final expense plans. Many times, due to being on a fixed income, older age consumers will look for term insurance for seniors. Though depending on your age you may find a term plan at a lower rate you must consider the possibility of you outliving your term policy. We get calls form many seniors who have outlived their policy and find it difficult to afford a whole life policy late in life.
However if you still want a term policy, make sure that the people you speak with fully explain the term of the policy. You don’t need any bad supersizes later in life.
There are several different factors that you should consider to determine what your life insurance needs are. Typically, seniors over 75 are looking for life insurance on a more permanent basis, such as to pay for final expense, or burial needs. At Senior Care Life we are an independent life insurance broker that represents you, not the insurance company, and will shop the market for the best life insurance for seniors on your behalf. If you will let us shop for you it can save you time and money. We already know which life insurance companies have easier underwriting standards for seniors. So we have multiple options for your life insurance needs. Even if you have been denied coverage we can find you coverage in most states if you are age qualified.
Remember even if you find a cheap insurance policy with a low face value it is better than having no life insurance at all. We have many elderly insurance options for you. If you are age qualified (50 to 85) you can apply for a no medical questions life insurance policy. You cannot be denied coverage for this policy. For even better rates, you can also apply for a Level Benefit Whole Life policy. You will have to answer health questions to qualify but the advantage is you will have full coverage on your first day of coverage with no 2 year waiting period.
You may be wondering how much life insurance costs for a 70 year-old person? Well by just filling out the quote request form above a licensed life insurance agent from Senior Care life will call you and give you multiple quote options. If you are asking yourself What is Better for Me, A No Health Questions Policy or a policy with health questions call us and we can go over your options. As is always the case, every person’s individual needs are going to differ based on a large variety of factors. If you’re concerned that you may be declined coverage, or already have been denied, it is probably in your best interest to consider guaranteed whole life insurance policy that does not require a medical exam or health questions.
As you get older, the number of life insurance companies that will underwrite you become slimmer. This therefore reduce your life insurance companies selection options. There are several different factors that you need to consider when trying to decide which coverage type is going to work best for you in your senior years. You’ll have to weigh all of the pros and cons. It is for this reason that whole life insurance is generally the best life insurance program for someone at age 75. On the other hand, if you currently have some major health issues, and are not confident in your level of health, obtaining life insurance at age 75 can be a rather difficult process. For larger policies you should try to go through underwriting first and see if you can get approved, because the rates will be better.
Like other seniors at that age you may be wondering what type of Life Insurance is available to me at Age 75? Do Health Issues Affect my Life Insurance Rates? Can I get a $50,000 whole life insurance policy? Can This policy hopefully cover me as the policy holder for the remainder of their lifetime, even if I live to be 100? What options are out there for me at this age? As long as you are age 50 and up to 85 we have options for you. Even if you have major health problems, in most states we can find you a policy. These policies will have no rate increase even as you get older. You will always be paying the same premium rate.
The best way to get life insurance coverage that works perfectly for your family is to work with an independent agent, like the ones at Senior Care Life. Unlike a traditional life insurance agent, we represent major life insurance companies across the Untied States that can get you some of the best rates and coverage in the industry. If you’re looking for the best life insurance for seniors a Whole Life Policy is the best way to go. You will never outlive your policy and your monthly premium will never increase as you get older. If later you decide you no longer need your policy, you can surrender it and get some cash back as your policy builds cash value over time. Call us for a free quote.