There are several insurance carriers now providing no exam senior life insurance plans for people over age 70.
These leading insurers include United of Omaha, MetLife, AARP/NewYork Life, Colonial Penn, AAA, Fidelity, and Gerber, among others.
When shopping for your policy make sure you consider the following:
- How much your life insurance will cost?
- How much coverage can you qualify to purchase?
- Is the policy guaranteed approval or not?
- How long will your premium remain level?
- Will your premium ever increase?
- Will your policy ever decrease in coverage amount?
- Will your policy ever expire, if so, when?
- Can your policy be cancelled by the insurer should your health change?
- What is the A.M. Best financial strength rating of the insurer?
- How long has the insurance company been in business?
The price and amount of coverage available will vary by insurer. Your age and gender will impact the rate you pay per $1,000 of coverage.
Keep in mind, guaranteed issue life insurance policies may be available for people ages 45 to 85, with no health exam required and no medical questions asked.
Learn more about finding the best life insurance for seniors over 70 with no exam.