When most people think of purchasing life insurance, they think of a long drawn out process that involves a lot of paperwork, medical exams and even more paperwork. What many may not realize is that there are policies that allow you to get life insurance without going through all that work and a medical examination. Many companies are now starting offer senior life insurance. Senior life insurance allows older individuals to discover that they and their families can benefit from the right type of insurance.
While it is ideal to apply for life insurance at a young age, many individuals find themselves needing life insurance as seniors. If you are a senior and you need life insurance, there are senior life insurance plans that are designed just for you.
Many people believe that once they hit 55, there is no way that they will find a life insurer that is willing to approve them. This could not be further from the truth. In actuality, there is an entire market for seniors.
Life insurance policies that cater to seniors are designed for individuals who are between the ages of 50 and 89 years old, depending in which State you live.
Most insurers do not require seniors to qualify for a medical exam when applying for this specialty policy. Another great feature is that insurers offering senior plans will not cancel the policy because you are growing older or you fall ill.
Be weary of some companies and their marketing:
Don’t buy life insurance if the price seems to good to be true. You can not buy affordable life insurance for one dollar. If you see an ad for one dollar buys you $50K of coverage, read the fine print. Globe Life Insurance sells life insurance where the rates increase every five years, they also sell level benefit but make sure you read the fine print. Other companies like Monumental Life Insurance, Fidelity Life Association, Colonial Penn, AARP, NYLAARP, and others sell insurance without an exam and or offer accident only policy or term policies where the rates will increase after the first year or two or five. The key to finding the best deal is to compare multiple companies.
THE BEST WAY TO FIND A LIFE INSURANCE POLICY FOR SENIORS IS THROUGH AN INDEPENDENT FINANCIAL ADVISOR. HE WILL SHOP THE BEST POLICY FOR YOU WITH THE BEST COST AND BENEFIT.
Mintco Financial Team of Independent Financial advisors will help you get the best quote and policy.
Mintco Financial is a leading company in the seniors life insurance and is an independent company meaning they will shop through many carriers and choose the best cost/benefit policy for you.
Call at 813-964-7100 or visit the website at https://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/