Term life insurance provides usually coverage for a specified period, such as 10, 15, 20, or 30 years, and pays a death benefit to the beneficiaries if the insured person passes away during the term of the policy.
While it's true that life insurance becomes more expensive as individuals get older, there are still options available for seniors.
Some insurance companies offer term life insurance policies specifically designed for seniors, taking into account their age and health considerations. These policies may have specific age restrictions or maximum coverage limits.
When applying for term life insurance as a senior, insurers may require a medical examination or ask detailed health-related questions to assess the applicant's insurability. The premiums for seniors may be higher compared to younger individuals due to the increased risk associated with age-related health issues.
It's advisable for seniors to research and compare different insurance companies and policies to find the one that best suits their needs.
Get a senior term life insurance quote now.