Senior Life Insurance

Senior Life Insurance, Insurance for the Elderly!

Security in later years.
Technology continues to evolve at a rapid pace allowing medicine to advance by leaps and bounds. People are living longer than ever. The average life expectancy for men is 82 yrs old, females 87 yrs old. That’s 25% higher from 25 yrs ago.

Great news! However, we pay a price for this technology:
rising costs of inflation! Not so great. No one knows this better than seniors, which is why having seniors life insurance is important. Even if you have built a comfortable nest egg things happen. You could have an accident or fall ill, all of which can quickly eat away your hard earned cash.
Life insurance for seniors (also called ‘guaranteed’ life insurance, final expense life insurance)
gives you immediate, low-cost life insurance protection for your loved ones, valuable living benefits and important guarantees.

 In addition, you have the peace of mind of knowing that your final funeral expense needs will not create an additional financial hardship for your loved ones. 

ELIGIBILITY

  • Men and women between the ages of 55 and 75 are eligible; NO health questions, No paper work, NO medical exam is required! 

GUARANTEED PREMIUMS

  • Premiums are guaranteed to remain level which means it will never increase. You pay the same amount every year the senior life policy is in-force. 
  • A senior life insurance company determines senior premiums by life expectancy (how long you will live) and your life insurance ratings (preferred, standard etc) 


VALUABLE LIVING BENEFITS - Senior Life Insurance Builds Cash Value!

  •  Senior life insurance policies can be an investment opportunity as it build cash value as it matures just like whole life policies. It’s a living benefit you can borrow against or cash in later in life.
  • Senior life insurance settlements is another opportunity as investors will buy your senior life insurance policy for 10-20% of the face amount. 

SENIOR LIFE INSURANCE COVERAGE

  • The face amount for insurance is 5-50,000. 


FEATURES OF SENIOR LIFE INSURANCE

Your policy can never be canceled, regardless of your age or health. Death benefits pass income tax free to your named beneficiary. Many senior life policies include or offer certain policy riders (accelerated death benefit rider.) 

READ THE FINE PRINT! DONT GET CHEATED!
Most life insurance companies have features called ‘graded death benefit limitation.’ Each company is different so be certain you understand the terms of what your buying. Insurance companies have senior life coverage limitation for the first two years.
 During the first two years of coverage, if the death is accidental, full benefits are paid. Non-accidental deaths, there is a limited, lower benefit, depending on the amount of coverage purchased.

Following the second full year of coverage, total benefits are paid upon death of the insured, whatever the cause.
Consumer Tip: Death in the first two years some life companies will pay full benefits others might only refund the premium dollars paid!


DON’T GET CHEATED! READ AND UNDERSTAND WHAT YOUR GETTING OR NOT GETTING FOR YOUR PREMIUM DOLLARS!