When it comes to senior life insurance plans, the matter becomes a bit complicated. The age is the main reason behind the cost of senior life plans. There are few term life insurance policies available like 5, 10, 15 or 20 years term life insurance and seniors can avail this policy but it is going to be a bit tricky. Term life insurance plans for seniors is affordable easily if you can do proper search. There are several websites offering free quotes and you can try their service to reach the top insurers. It is a bit time consuming matter but this can help you to find out the most reliable deal.
Term Life Insurance Plans for Seniors, is it available? Term life insurance is something that is signed for a short-term and you will get benefits from this policy. If your health condition is good; you can try to avail term life insurance which is not very difficult task. Most of the companies offer term insurance for senior citizens. In 2017, you can expect a great term life insurance for seniors. Term Or Whole Life Insurance? It is a big question among the seniors that which one they should buy. If you are not above 65 years, you can go for term life insurance which is less expensive at this age but if you are over 70, it is far much better to buy whole life plans. Seniors over 80 must buy whole life insurance plans as term plans are not available for them. Buying term life plan also depends on the health condition, if you are physically ok, only then you will be eligible to buy this otherwise you will have to go for whole life plans. Whole life plans are a big costly but for seniors this is a great plan to buy. Guaranteed Acceptance Life Insurance, is it an option? Yes, it is an option but obviously not a good one. Seniors with poor health can buy this one but it is not going to be an inexpensive plan. Basically, no exam plans are really very costly and seniors can hardly afford it. If there is no other option, guaranteed issue plans can be the only way to insurer.
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AuthorThis is Welker Barabara, CEO of STLI. Writing to share my opinions. ArchivesCategories |