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Senior Life Insurance
The purchase of Senior Life Insurance for elderly people may be considered unusual. In reality, it is a good idea to buy insurance when one is in his or her 30s or early 40s. In the twilight years of a Senior Citizen, the last thing they want is to leave their spouse and family with unpaid bills for medical and funeral expenses.
How Much Senior Life Insurance should be Purchased?
Seniors always ask, how much life insurance do they need. We are different from our competitors as we like to educate seniors about insurance. Our Experts feel good about teaching the facts about Funeral, Burial and Cremation expenses and how Insurance can help. We also advise that additional coverage may be needed to cover added expenses and potential unpaid bills. In addition, the insurer should consider raising the amount of the insurance policy to help someone pay for college or even provide the down payment for a new house.
Many factors need to be taken into account when a senior purchases a life insurance policy. Unfortunately, too many seniors delay researching the benefits of an insurance policy and as the years go by, the cost rises. It is our distinct pleasure to educate seniors about the different kinds of insurance and the costs associated with these policies. We are just a phone call away!
Thus, the value of having a good, affordable life insurance policy is something that should be considered when the applicant is in his or her early working years; so that the best, most affordable cost can be obtained. It is important for all seniors to plan and protect the financial interests of their families in case something should happen to them.
Factors That Affect the Cost of Senior Life Insurance
There are many risk factors that affect the cost of insurance for seniors, but when you examine these factors you’ll see that they are similar to those cost factors for younger people who buy insurance as well.
Upon applying for Senior Life Insurance, the senior will complete a form with a series of questions related to health — topics including cholesterol, blood pressure, height, weight, and other metrics. Based upon the Insurance Company’s policy, an ECG or EKG may be required as well.
There are numerous risk factors that affect the cost of an insurance policy. These include the following:
- The family’s medical history
- Lifestyle habits (smoking will increase your premium)
- Gender (women live longer and as such the costs are somewhat lower)
Finally, you can receive a free Senior Life Insurance quote by calling us or completing the form below. Our team of highly skilled specialists will work with you and answer any and all questions.