The importance of Life Insurance for seniors over 80
Mintco Financial put together some frequently asked questions about Seniors Life Insurance over 80. If you have other questions please email us or call us 813-964-7100. We are happy to help you!
What makes Senior Life Insurance so important?
No-one would want to leave their family in a financial mess would they? That’s why MIntco Financial shops for you among many carriers and will provide you an insurance that has been designed to help you protect your family from the financial burden of your funeral and other unforseen costs, if you were to unexpectedly pass away.
2. How much cover can I get?
You can select a cover option that suits your needs and budget, from $5,000 through to $50,000 insurance benefit.
3.Senior Life Insurance Is Too Difficult or Too Expensive to Get?
This is one of the concerns most frequently mentioned by seniors have about life insurance. First, your age and even your health should never be obstacles to getting the coverage you need. There are many good policies you can get at any age or state of health.
There are many companies willing to provide coverage up to 89 years old and policy types that are both readily available and priced to fit nearly everyone’s pocketbook. This is one concern you can remove from your list now – you CAN get life insurance.
4. What is a Simplified Issue Life Insurance?
Simplified issue life insurance is a policy that doesn’t require a medical exam. This type of coverage is usually marketed to senior citizens who have limited options for life insurance coverage. However, people of all ages can apply for life insurance without a medical exam. If you do have serious medical conditions or chronic diseases, you can still be denied coverage however. You have to answer a few health questions to get this coverage and you should never lie because that’s considered insurance fraud and isn’t the right way to handle things.
If you need more than $500,000 in coverage, simplified issue life insurance might not be right for you. There are many other life insurance policies that have much more affordable prices for coverage over this amount,just give us a call at 813-964-7100 and we will help you.
5. Can I get Life Insurance If I have bad health?
Every person in this world gets older and we have our own expiration dates. The only thing that we need to be sure when we pass away is we do not leave our families burdens, financially speaking. So, this is where Life Insurance comes in. Life insurance can be very important for every old person who are seeing their life end. And if you are one of those senior’s who are looking to have a good end in this world, then you should now apply for a life insurance of yours. There is one life insurance that claims no health examinations at all and you will get approved with it even you are having some health complications. So far, for those senior’s out there who are having bad health, this is only their best choice if they can’t be able to get back in full health.
6. What if I use tobacco?
If you use tobacco, we will still be able to find you a very affordable final expense policy. Your monthly premiums will only be a few dollars more than non-tobacco users.
7. Does Life Insurance for Seniors have a cash value?
Yes, final expense insurance is a whole life policy. It accumulates a cash value slowly over time, much like a savings account.
Although, it does have a cash value, these policies were designed with an emphasis on death benefits to pay for funerals, not for cash value or investment purposes.
8. How do I determine the amount of coverage I need?
At the present time, the average cost of a funeral is $7,000, it will increase to $12,000 by 2025.
In addition to the cost of a funeral, here are a few other items to consider when determining the amount of coverage you need:
– Probate costs.
– Unpaid debts.
– Outstanding medical bills.
– Financial gifts for children or grandchildren.
– Educational gifts.
If you need help determining how much coverage is needed, one of our independent agents will be happy to assist you.
Mintco Financial is the leading company in Life Insurance for Seniors over 80. Call us now at 813-964-7100 or GET A FREE QUOTE NOW!