Term Life Insurance for Seniors: How to Compare Quotes for Affordable Senior Term Life Insurance
If you’re a senior looking for the most affordable life insurance policy you’ll want to compare term life rate quotes from the leading insurance companies in America.
Term life insurance make sense for seniors looking for affordable protection and you can choose plans from several of the leading insurers including Northwestern Mutual, Mass Mutual, Prudential and Metlife.
Is term life insurance right for senior citizens? It can be if you need affordable coverage.
Once of the main challenges of purchasing term life insurance when you are over age 55 is the price.
The older you are, the higher the cost of a life insurance policy.
But, you can find affordable term life policies for seniors if you are looking for coverage for a period of 30 years or less.
Term life plans for seniors are usually available for people in their 50’s, 60’s or 70’s.
There are other types of guaranteed issue permanent life
insurance plans that may be more appropriate if you are over 75 or in need of
The best term life insurance coverage for seniors can be found by comparing benefits and prices. You’ll want to make sure to compare plans from financially sound and secure insurers.
Several reasons term life plans are popular for seniors include because they can:
So, don’t think you can’t get life insurance or don’t need it just because you’re a senior.
Term life policies offer you a choice of coverage for a period (term) of 10, 15, 20 or 30 years. Some insurers even offer terms of 5 or 25 years.
If you pass away during the term of your policy, your beneficiary receives the death benefit from your life insurance.
You select a beneficiary or beneficiaries to receive your life insurance when you purchase your policy. The proceeds from your policy are paid to the beneficiary free from federal income tax.
Term insurance offers the lowest rates on life insurance for seniors.
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