Life Insurance for Seniors Over 70
Looking for an Affordable Policy?
Life insurance plays an important role in our life because financial strength is essential for a good life. Without money we can’t think of a single moment; so can you imagine what your family will do after your passing away? No one wants to deliberate about death but it is a part of our life. Even if you reach an age of 70 years you need to worry about financial matters. Life insurance for seniors over 70 is the most desired thing for a senior who is struggling with finance.
If you have planned in your early life then you might not have to think about it at this age, but nothing to become upset because you still have the opportunity to get a life insurance.
How Can I Find An Affordable Life Insurance for Seniors Over 70?
Finding a reasonable life insurance over 70 is like getting treasure under the land. There are thousands of underwriters and they are offering tons of different policies and offers.
So, first of all, you need to identify your needs and after that, you can seek for a policy over the internet.
To plan a good life insurance for people over 70 you need to consider the coverage amount you want. Your policy must cover funeral costs, debts, mortgages, car loan, taxes, medical expenses and all other bills. Your children education is another concern that you must remember.
Statistics say that on average a person over 70 years chooses a life insurance policy with coverage around $50,000. Now you have determined all your needs so you can request for free life quotes. We are offering this service for free. Check out the best policies in your area; just enter the ZIP code and get the available policies.
When the Premium Goes Higher for Seniors Over 70?
Definitely the premium rate for seniors over 70 will be higher. Seeing the premium rates you might become confused about choosing the policy.
Ok, let’s talk in brief.
There are basically two major types of policies for seniors over 70.
If you need small coverage it is obviously good to choose term life insurance. You can choose the time period of 10, 20 or 30 years.
Whole life insurance is decent if a larger coverage is needed but in that case, you might have to pay three to four times more premium than term life insurance. In this case, if you choose a policy of $50,000; obviously the underwriter will ask you to pay more than $200 per month.
No Exam Life Insurance for Seniors Over 70 Years
Let’s talk about the health issues because it is the most important factor of a higher premium. Physical fitness is such an important issue that you can’t image. An unhealthy person can’t get any cheap policy but there are some different policies for them.
You can try to get a policy by taking a medical exam but if it fails you can go for guaranteed acceptance life insurance for seniors which is hassle free and anyone can get it. The underwriter will ask you few questions and that is all for becoming eligible for a guaranteed issue insurance policy.
But the underwriter may add a condition that is 2 years maturity period; under this condition, clients can’t get the benefits until the age of the policy becomes 2 years from the date of signing it. If the client dies before 2 years he can only get the premiums that he paid along with around 10% interest.
Life policy costs accelerate every day with your age. If you cross 85 years, it will be more expensive to cover yourself. So, that’s probably all you need to know for applying for free quotes. We offer free quotes from top companies around the USA and help you to save on your monthly premium.