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3 Best Available Options Senior Life Insurance

Nowadays, many seniors are facing the challenge of getting an affordable life insurance.

Moreover, a lot of people simply give up on a possibility of getting insured as, apart from a high price, there are other complicating factors like age, medical condition, and lifestyle.

But these factors don’t have to become a stop signal as now elderly people have a viable option of getting a life insurance that is designated particularly for them at a better cost.

Thanks to it, they will no longer be concerned about the financial protection of their loved ones in the event of their passing away.

3 Best Available Options Senior Life Insurance

  1. Guaranteed Issue Insurance
    Seniors’ guaranteed issue insurance is an insurance policy that you are guaranteed to obtain. There is no medical exam or questionnaire needed, you simply apply by filling out the appropriate paperwork. This is a perfect solution for anybody that is entering their senior years and has a medical historythat will not allow them to purchase a standard policy. Even if you have been denied a policy in the past, you can apply for seniors’ guaranteed issue insurance.
  2. .Final Expense :These types of plans can help cover the cost of a funeral service, burial, and other expenses associated with your “final expenses.” The Federal Trade Commission estimates that many funerals can cost well over $12,000. If you don’t have the prepared cash to pay for your burial or don’t want your estate to be taken up with fees incurred by your death, a final expense insurance plan may be for you.
  3. Graded Benefit. It is often the last resort for those who can’t qualify for other kinds of life insurance policies due to their medical issues. A graded benefit policy is actually one that pays a reduced benefit if death takes place during the first few years (usually 2-3 years) after the policy is obtained. Once coverage has been in force for a few years, the death benefit increased to the one that was purchased for. Graded benefits reduce the risk taken on by insurance companies who accept terminally ill buyers. If the individual dies in the first 2-3 years, the beneficiary gets the premium paid plus interest, usually 10%.

 

Get A Free Senior Life Insurance Online

The sooner you buy a policy, the lower your premium will be because, over time, you will continue to age, which drives premiums up. Also, the longer you wait, the more likely you are to develop a potential health condition, or even risk passing away without a policy.

Call us at 813-964-7100 or 716-565-1300

Get a free Senior Life Insurance quote online HERE