CALL FOR INFO





Life Insurance For Seniors Over 80

December 31, 2018 - voltus - Insurance - 0 views



Life Insurance For Seniors Over 80

Life Insurance For Seniors – Guaranteed Vs Simplified Life Insurance For Final Expense and Estates

If you are over 50, or if you care for an elderly person, you have probably noticed ads for senior life insurance policies. Sometimes these are called guaranteed issue life or simplified issue. Sometimes the products are called final expense or burial policies, or sometimes they are marketed as a way to pass on a tax free estate to survivors. No matter what term is used, these are probably talking about a small face value whole life insurance policy. They are designed to be easy for older people, or people that are not in perfect health,to be able to apply for. By small face value, I mean that they usually provide coverage for $2,500 to $25,000. Then is there any Life Insurance For Seniors Over 80?

A guaranteed issue life insurance policy sounds attractive, and for some people it can be the right choice. Basically, the company uses a waiting period instead of health questions in order to issue the policy. The insured person usually has to survive for a term of two or three years, depending upon the policy. If the person survives that period, then their heirs are entitled to the entire face value of the policy. If not, the beneficiaries will get back the premiums paid plus a set interest rate. If an older person, or a person in imperfect health, cannot be accepted by any other insurance policy, and if they feel they need life insurance, then this is certainly a no-lose contract.

However, guaranteed policies will be the most expensive per every thousand dollars of benefit. The small face value is what makes them affordable. On the other hand, simplified issue life insurance will pay an immediate death benefit. As soon as the policy is issued, the insured person is covered for the whole amount. Premiums will usually be cheaper too.

You will have to answer health questions, but they are not as intrusive as fully underwritten policies. In general, people within the age limits, who have not been diagnosed with a terminal disease and who do not live in a nursing home can qualify.It would be better to have a contract with an immediate death benefit, and with a cheaper premium, if you can qualify for it!

Now consider the reason you might purchase senior life insurance, either for yourself or for aging family members. If you are not clear how funeral expenses would get paid if a person passes away, then a few thousand dollars of coverage may be an affordable way to plan for final expenses. Money can also be used to travel, transporting a body, and to settle debts. Leftover money from the policy can be kept as an inheritance by the beneficiaries.

Most of the time, the payout will not be taxed either. Sometimes people buy these type of policies to make things fair between multiple siblings. Consider an elderly parent with two children. Let us say, for example, that one of the children will inherit a valuable family heirloom. The other child will be names as a beneficiary on a policy so they may have cash instead. In this way, a parent can try to be fair to both children.

Life Insurance For Seniors Over 80

Insurance For High Risk Drivers

Insurance For High Risk Drivers

December 31, 2018 - voltus - Insurance - 4 views

Car Insurance - A Legal RequirementCar insurance is a requirement for any individual who has attained the maturity to self drive a car. The main purpose is to protect every individual on the road from accidents or damage to the vehicle or prop....

More »


Compare Car Insurance Quotes From Different Companies

Compare Car Insurance Quotes From Different Companies

December 31, 2018 - voltus - Insurance - 6 views

Cаr Inѕurаnсе Quotes Can Be FunnyCаr іnѕurаnсе ԛuоtеѕ саn bе funnу, аnd I'll tеll you hоw. I was wаtсhіng TV thе оthеr dау whеn one оf my favorite соmmеrсіаlѕ саmе оn. It іѕ the оnе whеrе thе ....

More »


Lemonade Renters Insurance Review

Lemonade Renters Insurance Review

December 31, 2018 - voltus - Insurance - 2 views

This is not about Lemonade Renters Insurance Review. This is just about Cheap Renters Insurance - Where to Get It? Foreclosure rates are increasing all over the U.S. and more of us are turning to renting homes. This article shows you how to get ch....

More »


Liability Car Insurance Definition

Liability Car Insurance Definition

December 31, 2018 - voltus - Insurance - 3 views

Explain Liability Car Insurance Definition was quite difficult anyway. So, i prefer to try with describe it with a case story which it may relevant to that problem.Finding cheap automobile insurance as a New York resident is not constantly ea....

More »