A new InsuranceAgents.com article discusses the increasing interest in senior life insurance, its benefits, and how to best obtain it.
Online PR News – 12-December-2009 – – To secure the financial future of their families, many senior citizens often take a second look at senior life insurance, according to a new InsuranceAgents.com article, ‘Senior Life Insurance: 65+ Doesn't Mean High Rates.’
“Although most elders already possess some form of life insurance, the death benefit is often too small to cover the funeral expenses and medical bills,” the article states. “Senior life insurance is quickly growing in popularity, making it easier now than ever before to purchase.”
Senior life insurance is for senior citizens who can’t obtain standard life insurance due to age or preexisting conditions. It also comes in two different forms: term life and whole life.
1. Term life. Instead of considering a senior life insurance policy as an investment, some senior citizens want to invest in a policy just to relieve their surviving family of any financial burdens resulting from their death. For this, term life insurance is the best option.
2. Whole life. “Many elders are purchasing whole life not only because it will cover them for their entire life, but also because the policy builds cash value over time,” according to the article.
Senior life insurance offers some great benefits, but it can be a pricey policy. Due to a senior citizen’s life expectancy, senior life insurance can get quite expensive. It’s not impossible to obtain, but may be relatively more difficult.
To find senior life insurance at the lowest rate available, compare life insurance rates online. Talk to a life insurance agent today for help, and visit InsuranceAgents.com for more information.