Insurance is a must-have component in life, considering how uncertain our lives are. Everything that is there in the world is bound to change or die at the end. If there is anything that is permanent in the world, we would say that it is the impermanent nature of life. The bringing of our death upon us is just the moment we are born. It is an undeniable truth. Well, what more, there is nothing we can do to live forever, and there is nothing in this world that could stop us from dying. So, what can we actually do to make it at least a little better? Will we be able to at least make the lives of our loved ones any better once we are gone? This is exactly where the best life insurance for seniors’ providers comes to help.
Well, you should be wondering what this is by now. Let us start it this way…
You must have definitely heard about life insurances at some point in your life. It does not really matter whether you are someone very old or someone very young. You must have definitely met at least a single dealer that wanted to sell a life insurance plan to you.
But with time, you get more matured and you understand the importance of having a stable support once you become more helpless in life. You definitely cannot depend on your family, right? – And what would happen to those who depend on you? How will they be able to face life once you are weak? Or worse – gone?
These questions are always bothering the minds of people who actually have responsibilities upon their shoulders. Especially the elder people or the senior family members are more concerned about how their passing away will affect the lives of their loved ones.
In order to become a little relief to everyone who is worried about how and where to find a better life insurance for seniors, we have brought you this article about best life insurances for seniors. We shall discuss about the companies, and their features as well as the advantages and the disadvantages that you will receive by joining them.
Do not worry we do not get paid from them (or any other company at all)– so get ready to expect the most honest truths about these companies.
With this article, we provide guidance to the senior citizens to get an idea of what type of insurance they need and whether the insurance offered by this company suits their requirement by any chance.
So, what exactly is the best life insurance for seniors?
Among the many insurance companies that are available for senior citizens in the world, some of them stand at the top of the list. In this article let me introduce you to the top 5 on the list.
If there is anything that you need to understand, it is the one thing that they are the top of the list for a reason.
You will easily understand the reasons for each of them to be in the top when you go through the article.
New York life: the top of the list in which grants you the most flexible plans
New York Life is on the top of the list given that it is one of the best companies to offer you life insurance coverage even if you are a senior over the age of 80 years.
There are only a few companies that provide the feature for seniors over 80. So, it definitely deserves to be on the top.
It also offers cheap life insurance for seniors when compared with other companies. The company has a no – exam coverage which means that any senior person can obtain it without going through any medical check-ups. This is unquestionably valuable to those who have already identified diseases. Your medical examination results that are most likely to be disqualified in other companies will be accepted here.
If you were to select the full underwriting coverage after going through a medical examination the prices will be much cheaper. But we should state that the differences are almost negligible.
It also provides a life benefit carrier which provides the policyholders with the opportunity to obtain a maximum 250,000 USD death benefit. The death benefit is redeemable at the time of the death of the insurance holder. The money will be given to a benefactor that is named by you.
Well, this actually helps your family to face the moment with at least some financial stability. Passing away of a loved one is definitely a harder moment to bear, and with a small gesture as this, you can show how much you loved them even when gone.
You can visit their website and find out more about their policies and payment schemes through this link:
Mutual of Omaha: the top of the list for the best customer care service
This company is also among the other companies that offer plans for seniors who are over the age of 80 as well, but it is not the cheapest when concerned with the other companies.
If you are not in a very strict budget you should definitely try it out.
However, it is highly recognized for its customer service and the easy to use manner that they are maintaining their website and all. Many people like to work with this company regardless of their somewhat expensive packages given that they are more concerned with the effectiveness of their service and the time taken to provide them.
Everyone loves the convenience and this company is among the very few that have figured out how to provide it.
They follow a very easy and smooth signing up process as well as policy management procedures. We can positively name them as one of the companies that people just love to work with. Many people believe that the amount they pay is very little when considered with the service they offer.
If you are an elder person who is concerned about your health and is worried about getting insurance with the current condition – worry no more!
This company does not have medical examination requirements as well.
You can get a coverage that includes death benefits up to a value of 250,000 USD without any checks. This typically means that anyone can get the plan whereas it covers the requirements of many people.
For more details and to find out the representatives near you, you can visit their official website:
Legal and general: the top in legally trustable and generally affordable
This is actually the insurance branch of the much larger group of companies Legal and General. It is named the Banner Life is also one of the best companies that provide life insurance for seniors.
If you are someone who is looking for an insurance that will go through your entire life, they have options that are much cheaper, easier to afford and filled with features that will definitely suit your requirement.
But when it comes to the seniors, they are far more generous than any other company.
They offer more inexpensive premium packages to seniors who have already been diagnosed with incurable diseases and they maintain a special package to families that have a history of cancer.
Their policies are limited to seniors between 50 and 80. This can be named as the perfect life insurance for seniors over 60 until 80 years of age. The plans can be arranged separately according to your age. There is no problem whether you are age 50 or of age 70.
Their whole life policy lasts a lifetime and you can get a policy just by searching online for values varying from $2000 to $15000. The lowest premium package costs only 8.80 USD per month, which is the cheapest of them all.
They can be named as a company that provides the cheapest life insurances for seniors.
Also, when considering the convenience, you get when signing up online; it definitely is something you cannot say no to.
To learn more about their plans and to join them online you can simply visit their website through the link below:
American national: the top of the list of those who have the widest range of coverage
Starting at 25,000 USD, this company provides universal life policies. They have a range of packages that is definitely bound to include your particular requirements as well. They provide life insurance for seniors over 60. But there are no policies to those over 80 years of age. Hence, they have a limited age of issuing their coverage.
And to get a life insurance for seniors over 75, they should be non – smokers or not be people who actively smoke at the time of the medical examinations. The underwriting requirements are strictly considered by this company and there is no method to get through them. Especially, if you have a history of smoking or drugs, you will have to reconsider your choice.
But if you were to put the age limit aside, you will find many more features and types of coverage, which puts them in the top of the list.
They provide 50% of the value of the package or a maximum of 250,000 USD as death benefits, which is clearly a better version when considered with other companies that keep the percentage limited to as little as 25% of the whole amount.
They are a company that provides everything online. You can find more information as well as start a package online with the support of their website.
Visit this link to find out more:
Lincoln financial: a very large death benefit
Last but not the least in our top picks of the best life insurance for senior citizens is the Lincoln financial which is a company that provides a decent customer service along with a larger cash value accumulation.
They provide the coverage with some features that allow you cash withdrawals after some time, which makes it more useful than others. They have a high death benefit value, child term, and spouse term facilities and many more. So, if you were to worry about what you were leaving for your loved ones, this would provide you with a better answer.
The policies are not very cheap when considered with the others given that they have a higher initial payment. But when considered with the value-addeded features that they offer, you can believe that the service is worth the price.
They have coverage to seniors until the age of 95 which means that they have very large coverage with no doubt at all.
To find out more about their policies and obtain one visit them at the below link:
Well, that is a wrap!
That is all of the top picks of our best life insurances for seniors. You must have definitely got an understanding of how we select them, and on what to look for when selecting a life insurance for yourself.
If you are a senior it is better to select one that frees you from the trouble of taking medical exams and provides you with a better coverage and a larger age group. No one wants to outlive their insurance policies, because that will only mean more troubles and costs.
So, be wise, and select the one that actually suits you and actually covers your requirements. Also, keep in mind that the price of the initial payment will not define whether it is good or not.
Before making any choices, it is better to visit their websites and see for yourself whether they have what you want. That is why I have added the links to each of the websites.
Well, good luck with your search for a life insurance, and make sure you stick with one of the best companies as much as possible.