Concerns of high costs often deter seniors from getting the right policy. Thankfully,If you are 50 or older, start searching the options below, you can find the life insurance that is eligible for you.
Understanding the Types of Life Insurance
There are primarily two types of life insurance: term and permanent.1 Term insurance provides coverage for a specific period whereas permanent, or whole life insurance, lasts your entire life. One is more costly so researching the types and how much they cost can help you pick an insurance policy that fits your budget.
Get $12/Month Life Insurance
Contrary to common perceptions, life insurance can be more affordable than you think. In fact, a term life insurance policy for a healthy 30-year-old woman that costs $250,000 can be around $160 per year, which is about $12 per month.2 This proves that life insurance policies can fit within your budget. So, it’s a good idea to choose your policy sooner rather than later!
Exploring Affordable Life Insurance Options for Seniors
When it comes to senior life insurance options, there are several choices worth considering. Guaranteed universal life insurance offers lifelong coverage with a guaranteed death benefit, and the premiums can be much lower compared to other permanent policies. Guaranteed whole life insurance, on the other hand, is ideal for seniors with health conditions as it doesn’t require a medical exam, provides lifelong coverage, and builds a cash value over time.
Further, for those looking to cover end-of-life expenses, final expense life insurance offers coverage amounts from $1,000 to $50,000. And let’s not forget about universal life insurance, which provides flexibility, a guaranteed death benefit, and the option to grow cash value or add a long-term care rider. With so many options available, it’s important to keep exploring online to find the policy that suits your needs best.
Get Started Today!
Navigating senior life insurance doesn’t have to be intimidating or costly — it just takes some research.
With knowledge, strategic choices, and a little help, you can secure the coverage you need without breaking the bank. Start searching now to find the right insurance policy for your needs!