Can seniors find affordable term life insurance plans?
Yes, there are term life policies available for seniors which may offer affordable rates depending on your health, age and the insurance carrier.
Most life insurance companies offer term life insurance for seniors. However, the length of the terms available may vary by carrier and usually are offered for 1, 5, 10, 15 or 20 years for senior citizens.
In addition, the amount of life insurance offered to seniors will vary by insurer based on your age, assets, and amount of life insurance you already own, among other things.
Keep in mind, term life insurance is temporary and is not guaranteed to last for your entire lifetime, like permanent life insurance.
Also, some term life policies may have graded death benefits - meaning you will not have full coverage until you have been insured by the policy for at least 2 years.
And, some plans have guaranteed level rates for 5 year periods and then the rate increases every five years.
Here's how you can compare term life insurance seniors plans online among several leading life insurance companies to help you find an affordable term life policy.
Yes, there are term life policies available for seniors which may offer affordable rates depending on your health, age and the insurance carrier.
Most life insurance companies offer term life insurance for seniors. However, the length of the terms available may vary by carrier and usually are offered for 1, 5, 10, 15 or 20 years for senior citizens.
In addition, the amount of life insurance offered to seniors will vary by insurer based on your age, assets, and amount of life insurance you already own, among other things.
Keep in mind, term life insurance is temporary and is not guaranteed to last for your entire lifetime, like permanent life insurance.
Also, some term life policies may have graded death benefits - meaning you will not have full coverage until you have been insured by the policy for at least 2 years.
And, some plans have guaranteed level rates for 5 year periods and then the rate increases every five years.
Here's how you can compare term life insurance seniors plans online among several leading life insurance companies to help you find an affordable term life policy.
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