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Senior Life Insurance

Most people realize that life insurance is an important coverage to have; however, a lot of seniors lose their life insurance when they retire.  Not having this coverage causes hardships on families all across the world every day.  Allow Medicare Insurance Finders to provides you with a life insurance quote in a matter of minutes with over 20 carriers.

We offer life insurance quotes with carriers such as: Genworth, Lincoln Financial, ING, Banner Life, MetLife, Mutual of Omaha, and many more.

Top Reasons for needing Senior Life Insurance

  • Final Expenses (Utilities,  Hospital bills, Burial Expenses)
  • Mortgage (Pay off mortgage)
  • Debts – car payments, student loans, credit cards (This can be tough for a spouse that is left with bills)
  • Income to provide for dependents (spouses or children)
  • Business Expenses

Types of Life Insurance

Here are some basic definitions of the different types of senior life insurance that are offered in the market today.  Also remember that we can provide you with LIFE INSURANCE QUOTES at 877.759.5760.

  • Final Expense: These insurance policies are typically coverage for the “final expense items” in your life.  Coverage or face amounts are usually between $5,000 and $35,000.  There are usually very few health questions on these policies and they are perfect for individuals who do not want to leave relatives with the bills for a funeral.
  • Term Life Insurance: Term Life Insurance provides coverage for a specific amount of time as long as you pay the premium and can qualify for the policy.  Usually these policies are seen in 10, 15, 20, and 30 year terms.  Term life insurance quotes will usually be less expensive than other types of policies.
  • Universal Life Insurance: This coverage can be structured different ways but it is almost like a mix of term life insurance and whole life insurance.  Universal Life will provide coverage for the rest of your life (to 120 years of age) but will not build up the cash value that whole life insurance provides.  This coverage is typically more expensive than term and less expensive than whole life.
  • Whole Life Insurance: Whole Life can be setup different ways, but they are built to provide cash value and coverage for your whole life.  Their rates are higher than any other type of policy, but they do provide ways to build up cash-value that can be used for a child’s college, wedding, down payment, etc.  These policies will stay in force for as long as you pay the premiums and they are very common among the elder generation.

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