Affordable Life Insurance for Seniors over 70 years old
Affordable Life Insurance for Seniors over 70 years old
Life insurance for seniors over 70 is now a possibility for many elderly individuals living in the United States.
Senior life insurance over 70 is a low-cost policy designed to help seniors leave a financial gift for their loved ones and cover their own funeral expenses.
Without a life insurance policy, your family would be burdened with burial costs in the event of your death.
If you’re old and gray and have not saved much during your younger years, this type of senior insurance coverage is very useful.
Don’t think that this is impossible?
It’s very possible and if truth be told, many companies are specializing in the senior life insurance niche nowadays, unlike before when it was next to impossible to find an insurance carrier who would sell you a policy once you’re over the age of 70.
Best Life Insurance for Seniors over 70 years old
Buying life insurance for seniors over 70 becomes important as your age and health deteriorates and the inevitability of death becomes a grim reality.
Most people buy senior life insurance to ensure that their loved ones don’t have to pay money out of their own pockets for your funeral expenses.
Many baby boomers and seniors who are 70 and older can get affordable life insurance coverage.
Of course, your health history impacts the bottom line.
Cheap Affordable Life Insurance for Seniors over 70 years old
If you are in good health, lead an active lifestyle and don’t smoke, you have a better chance of getting affordable life insurance than if not.
What makes the most difference in getting affordable insurance is using an independent agent, who can help you find the right company to get the most best pricing possible.
The independent agent will know which company(s) will underwrite your application most favorably and therefore give you the best rating/pricing.
They should have an in house underwriter to be of assistance in getting you the best rating as well.
Why you need Life Insurance for Seniors over 70
Senior life insurance provides financial peace of mind knowing that your loved ones will not struggle when you are gone.
A senior life insurance policy takes the financial burden away from your family.
This policy can also be used to leave a financial gift to your loved ones when you are gone.
Can I Get Coverage for life insurance seniors over 70 With Pre-existing Health Issues?
Senior Life insurance policies are unique in that they are created for seniors and the insurance companies understand that some seniors may have pre-existing health issues.
Life Insurance companies have made their senior life insurance policies underwriting incredibly lenient.
If you have any of the health issues listed below, you may still qualify for a senior life insurance policy.
Please note that your age and the state you live in may affect your options.
High Blood Pressure
Heart Attacks Over 1 Year Ago
Full Blown Strokes Over 1 Year Ago
Water Pills intake
Cirrhosis of the Liver
Hepatitis (A, B, Or C)
Defibrillator Or Pacemaker
Systemic Lupus SLE
If you have a condition not on this list, please DON’T assume that you cannot be insured. Life insurance companies cover many other high-risk health issues.
Our job is to shop for you, negotiate with insurance companies to get you the best rates and the best policy.
Life Insurance for Seniors over 70 No Exam
There are many benefits to buying no exam life insurance.
As the name implies, the main benefit is that you get to skip the medical exam.
Traditional life insurance policies require applicants to undergo a medical exam as part of the application process.
The exam usually takes a half-hour and includes answering various questions about your health, taking your blood pressure, a blood test, and providing a urine sample.
Many people feel uncomfortable telling a virtual stranger about their health conditions and prefer to skip the exam altogether.
Others are scared of needles and can’t bear the thought of a blood test.
And still there are those who are so busy that they don’t have time to stop everything and sit for a half-hour.
Whatever the reason, skipping the medical exam is considered a big benefit of this type of insurance.
Another benefit is that approval takes much quicker than that of traditional life insurance. Traditional policies take between 4-8 weeks to return an answer to the applicant.
This is due to the thorough underwriting process, during which underwriters pore over every health detail and assess how much of a risk the applicant poses to the insurer.
With no exam life insurance, approval can be immediate or take a few weeks. It depends on the policy.
Whole and final expense usually grant immediate approval, while term no exam life insurance can take a few days or maximum a few weeks.
The reason is similar to that listed above — whole and final expense don’t include any underwriting, but term no exam insurance does.
However, these policies are not fully medically underwritten since there is no medical exam, which means the process takes much quicker.
How Do To Get A Senior Life Insurance Policy
Getting a senior life insurance policy is fairly quick and easy. You can get coverage almost immediately if you qualify.
You DON’T need a medical or physical exam to qualify.
A State Licensed agent will help you answer some basic questions about your health and shop for the best rates and policy coverage for you.
The Insurance company will get the health information and validate on their end.
The process takes less than 20 minutes, and you might get an instant decision from the insurance company immediately.
On the call, you should expect to provide your Social Security Number, driver’s license number, and payment information.
Just because you are 70 or older doesn’t mean you can’t get affordable life insurance.
It is especially important to go to the right carrier when you are applying for life insurance and you are 70 or older.
We recommend you to give us a call at 813-964-7100 or GET A FREE QUOTE NOW , we are an independent agents who have experience with Baby Boomers and seniors.
We can help you decide what type(s) of life insurance you need
as well as help you get the best value for your money.
Mintco Financial Team is an independent financial advisory company. We work for you!
We do insure seniors up to 90 years old.