Elderly Life Insurance

When talking about life insurance, one has the tendency to involuntarily follow the basic insurance logic: the younger you are when you apply for insurance, the lower will the rates be. As this reasoning is, nevertheless, true and efficient, it doesn’t do justice who people who have passed a certain age. „You mean to say seniors can’t get insurance?” – your average, uninformed individual might not know what to answer. Luckily, insurance companies designed elderly life insurance and seniors are included – and you can purchase insurance at almost any age.

However, keep in mind that the rates may be slightly above average, a justified aspect, given the fact that the carrier undertakes more risk when he agrees to issue the policy. Insurance is,colloquially speaking, a gamble between you and the insurance company, so it’s only natural that each part tries to eliminate as much risk as it can.

If you’re a senior who’s searching for a good insurance policy, you can consider classic life insurance (term life) or burial insurance, which offers a smaller face amount and has, therefore, lower rates. Regardless of your choice, your top priority should be to contact a licensed, reputable insurance agent. S/he will represent you in front of the carrier and do his/her best to get you the low rates.

If you have a pre-existing medical condition, you might have to „pay” for it (i.e. be the subject to higher rates). However, some companies offer cheap rates to people who suffer from diabetes and are over 50, or to seniors who have a high cholesterol level but don’t suffer from any other disease. It’s up to your insurance agent to get you a great deal. On the other hand, if you want to avoid undergoing a medical examination, you can opt for no exam policies, which basically only ask for you filling in a form with medical related content. Senior life insurance is pretty easy to understand if you have a good adviser by your side.

You can also get online quotes, right here, on our website. Insurance quotes help you compare rates and see what the insurance market has to offer, without you going from company to company and asking for their offers. We are not an insurance company and we solely want to inform you and offer unbiased content. For other details, visit the informative section of our website.