what is the best life insurance for seniors

Life Insurance for Seniors Over 60,70 even 80years old
Some older adults over 60, 70 or even 80 years of age, are looking for a smaller coverage amount, enough to cover final expenses such as burial costs or to pay off bills. If so, Guaranteed Issue Whole Life Insurance coverage (or Life Insurance for Elderly) may be the best fit for you. Sometimes known as senior life insurance, burial insurance or final expense insurance, these policies typically range in coverage amounts from $5,000-$25,000. Guaranteed Issue Whole Life Insurance coverage was designed specifically to meet the needs of adults ages 50-85. With guaranteed acceptance, no medical exam, and up to $25,000 in coverage, this senior life insurance policy offers a guaranteed way to help protect their legacy. Guaranteed Issue Whole Life benefits can help your loved ones pay for medical bills and final expenses. This can alleviate stress on your family helping to enable them to resolve your outstanding financial matters in your absence.
No matter your age or needs, purchasing a policy as young as possible can help provide security for your family. And remember, with many types of policies, typically the younger you are when you purchase, the less your costs will be. Don’t delay, you may want to consider getting get a senior life insurance policy soon!

what is the cheapest life insurance for seniors

Life Insurance Comparison Chart

Company, Policy type, Issue ages, coverage amounts, Type of death benefit

CompanyPolicy typeIssue agesCoverage amountsType of death benefit
The Funeral Advantage Program40-85$5,000 up to $20,000level and graded
LifeScape ® Simplified Whole LifeLevel 0-80$5,000-- $50,000 Depending on Type of Death BenefitLevel, 2 Year Graded & 2 Year Modified Death Benefit
RAPIDecision ® Senior Life Term & Whole Life50-85 Depending on Type of Death Benefit$10,000-$ 150,00010, 20 & 30 Year Term or Whole Life
Gerber Life Guaranteed Life50-80$5,000-$ 25,0002 Year Graded Death Benefit
Phoenix Remembrance Life ®30-80$10,000-$ 100,000 depends on ageLevel Death Benefit
Guaranteed Issue Whole Life50-85$5,000-$ 25,0002 Year Graded Death Benefit
Simplified Issue Whole Life50-85$3,000-$ 25,000simplified and graded
Foresters PlanRight Whole Life Insurance50-85 depends on Type of Death Benefit$2,000-$35,000Level, 2 Year Graded and 2 Year Modified Death Benefit
Living Promise Whole Life Insurance45-85$2,000-$40,000Level and 2 Year Graded Death Benefit
Ultra Protector I, II & III Non-Participating Whole Life50-85 Depending on Type of Death BenefitI & II: $2,000 – $30,000 
III: $2,000 – $10,000
Level & 3 Year Graded Benefit

So, you’ve decided to purchase life insurance. Well then, you have made a good decision! If you have dependents, you know that you must provide for them long after you are gone. Buying life insurance shouldn’t be a budget buster either. Take a look at the following options which can help you save big time!

senior life insurance

senior life insurance

When a senior, nearing the age of 60 or older, starts to explore their options for life insurance, they can seem limited and may come with very high price tags. It does not have to be this way, however. There are independent agencies out there that represent insurance companies that are willing to help you find the right coverage for you at a more affordable price, regardless of your age. With different options for life insurance, it is important to go into your search with specific guidelines and needs in order to make the search easier for all parties involved.
Obtaining life insurance over 70 doesn’t have to be hard work or bank draining. If you’re not sure exactly what you’re looking for, you should seek out professional guidance. Life insurance professionals (independent agents or companies) are there to help you along your journey to provide you with the assistance you may need throughout your search. There are confusing terms and varying premium rates that are out there regarding life insurances. So, if you’re looking for life insurance for seniors over 80 and don’t want to go at it alone, you should consider employing life insurance professional to help you

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