6/23/2023 0 Comments Gerber whole life insuranceWhile some types of life insurance are permanent, term life insurance for seniors lasts only for a specific term or time frame, usually 10 to 30 years.įor example, with a DreamSecure Senior Whole Life Insurance policy from American Family Insurance, you can qualify without a medical exam if you’re between the ages of 50 and 80. So if you’re a senior who’s hoping to leave money to your heirs for final expenses or another reason, keep reading to learn more.Ĭheck your life insurance rates from multiple insurers now at. Our guide aims to explore the options for the best life insurance for seniors, as well as the limitations you’ll find with each kind of plan. In fact, the best life insurance for seniors may even be more affordable than you think, and it’s possible to purchase coverage that lasts until the day you die. Many life insurers only offer policies to younger age groups - up to age 65, or in some cases only up to age 55 - and those who do offer life insurance for seniors charge much higher premiums to account for the increased risk.įortunately, you can get life insurance as a senior citizen if you’re flexible and know where to look. We may receive a commission through if you apply and are approved for a policy, but our reporting is always independent and objective.Īs an overall demographic, senior citizens are the group that’s most likely to need life insurance in the next decade, yet those without coverage will find slim pickings when they start to shop around. Your CNN account Log in to your CNN accountĬNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value.
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