What benefits does Life Insurance provide to seniors?
Our experience in assisting those over the age of 50 is unmatched and there are several advantages to the addition of a life insurance policy to your financial plan.
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We offer three types of insurance for seniors
The three most common types of insurance for seniors are fully underwritten, simplified issue, and guaranteed issue insurance. Here’s a simplified breakdown of the three:
FULLY UNDERWRITTEN | SIMPLIFIED ISSUE | GUARANTEED ISSUE | |
Cost of Premiums | |||
Medical Underwriting | Full medical history disclosed. | Limited medical questions. May differ by insurance company. | No medical questions asked. |
Visit from nurse or paramedical company | Most often yes. Sometimes substitued with physicians report. | No vist from nurse or paramedical company. | No vist from nurse or paramedical company. |
Speed of approval process | Longest process, may take few days to several weeks. | Typically within a few hours to a few days. | Typically within a couple hours to a couple of days. |
Maximum amount of coverage | No specified maximum. | Depends on company, age and health history. Can be up to 1M in coverage. | Depends on company and age. Most often between 25K and 50K maximum. |
Insurers we work with
Ensure peace of mind with insurance for seniors.
Speak to one of our insurance specialists to understand if insurance should be part of your financial plan. Call us directly at: 1-877-654-6119 or click below to get started!