What Types Of Life Insurance Policies Are Available For Seniors?

Senior citizens represent a special category of people, more exposed to a series of diseases and with a weaker immune system.  Due to the existence of numerous age related diseases, buying life insurance when being old becomes problematic. Not so many companies are willing to insure senior citizens, even if they do not present medical conditions that require treatment. Still, there are available options and you must know what types of life insurance policies are available for seniors.  And then find affordable life insurance for seniors by using online quotes.

  • Senior-Couple-Happy-in-their-RetirementTerm life insurance. Term life policies are available for a predetermined period of time, varying from one year to 20 years or even more.  They can be suitable for seniors who will purchase it for a period that will extend beyond their life expectancy. However, there are certain disadvantages.  First of all, term life insurance for seniors can be pretty expense and the coverage pretty limited.  Also, if you outlive the policy, you will not get any benefits. Some parts of the premiums will be returned.
  • Whole life insurance. This is a permanent policy with fixed premiums. It can be a very good option that provides additional benefits and features, plus a guaranteed minimum death benefit. Whole life insurance is typically an expensive policy and it factors in numerous details, like health or driving history.
  • No medical exam life insurance. You can easily subscribe to this policy. There are numerous plans, including simplified issue no exam plans and general acceptance plans which allow even to sick seniors to get coverage. As you can expect, there are strict limits and premiums are pretty high. Exactly for this type of insurance you need online life insurance quotes.

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