10 Best Senior Life Insurance Company And Reliable 2018

10 Best Senior Life Insurance Company And Reliable 2018

You might be searching for the best life insurance for senior citizens that can protect you in various situations that you currently in. When you are searching for a life insurance, then you should not only consider about the age aspect even though you are already senior with older age. But you should also consider about many other aspect such as your health, your current lifestyle and other things that you need in the future. Thus you would be able to find a few insurance companies that might be suitable for your current need and condition. Do not worry as we already list some of the best company which offers life insurance intended for senior citizen.

List of Trusted Senior Life Insurance Company

It is not easy to simply give you one name when it comes on insurance company. Especially since every company is different. Moreover your need is also different thus a company that is the best for someone else might not be your best company. But still there are several companies that generally give the best policy and rates especially for senior citizen. These companies that we listed here are trusted and they also offer various policies in term or whole type of insurance. So what you need to do now is to learn all of these companies we listed here and choose one with suitable policy that you want to get from them.

Assurity Insurance

Assurity This life insurance company offers whole life insurance which effective immediately right after you sign up on the agreement. For those who are below 65 years old, then the amount will be up to 50,000 dollars. However, for those who are more than 65 years old, then the amount will only be up to 25,000 dollars which still a lot as it can cover for funeral as well as other kind of expense. There will be several questions regarding your health which you need to answer. But if you are searching for a life insurance company that can cover the expense for funeral as well as burial then this Assurity Company is the one that you should use.

Banner Life Insurance

Banner LifeYou might often hear about this insurance company as it is one of the best in the market. They are also good company that can be used by client with sub-standard risk. They also offer various senior insurances with one of the best competitive rates in the market. They have universal and also term insurance coverage.

Fidelity Life Insurance

Fidelity LifeThis is the best life insurance that every senior citizen should consider especially since they have life insurance that does not use medical exam. They also offer ‘hybrid’ term insurance option that allows you to get the coverage after 48 hours from signing up. Their insurance coverage is also divided with 1/3 of it for term insurance then the rest is for accidental death. There is also an option so you can take medical exam at 6 months right after you sign up. Then when you are able to pass the medical exam, they will give you option to convert the policy that you have to be traditional policy. Do not worry as even when you do not pass the medical exam, then you will still be able to maintain your current policy.

Foresters Insurance

ForestersThis insurance company might not as familiar as the previous companies we mention before. But actually they are able to gives you one of the best insurance that is available in the market. You should not have to worry even when you have very complicated medical record as this company would still take you as their customer. Their pricing is also very competitive which surely very important for senior citizen that already retired.

Gerber Life Insurance

GerberActually this insurance company is more famous for the youth and children policy. However, you should know that they also offer policy for senior citizen. Great thing about this company is that they usually do not gives any question or even need for medical exam when you are going for their final and burial expense insurance. Usually when you cannot get any policy from other insurance company because of any condition that already pre exist before, this company still able to give you good policy offer. This is why; you need to try and getting your life insurance from them for guaranteed issue life insurance.

Minnesota life Insurance

Minnesota lifeThis insurance company is much known for their senior insurance policy which makes them take number 1 spot in various charts and recommendation. They also commit to provide competitive policy for senior citizen. This is why they are dub as the best company that provides term life insurance intended for senior citizen. If you want the one with good money value, then you can also get the policy from this company through the Securian Life.

North American Company Insurance

North American CompanyA.M. Best gives this company A+ rating which makes it one of the best companies that you can use when you need a senior insurance. Furthermore, they also create special products intended for those who are already older than 60 years old life insurance. The product itself gives solid offering with competitive rate as it is for senior client. Their life insurance is considered cheap which surely loved by every senior client.

Lincoln Financial Insurance

Lincoln FinancialThis insurance company is able to offer policy for senior citizen that already reaches more than 70 years old. They even offer term or whole life policy to senior citizen that already reaches more than 80 years old. The BMI chart that they use is quite liberal which still support both female and male who already more than 70 years old. They also gives higher limit on the blood pressure, diabetic as well as cholesterol insurance for those who already more than 70 years old. But you should take not that they would not consider you are insured if you have not seen your personal physician for at least a year.

Prudential Insurance

PrudentialYou surely know about this company as their brand recognition is very high. And the reason is because they have both good marketing strategy as well as good insurance policy. They can provide various offers according to your situation even when you are senior citizen. They have unique guideline on the underwriting which will go into your favor even when you are survivor from cancer, smoking, or having diabetes. Their guideline will be able to give you coverage in any given situation thus you should not have to worry and try to contact this company. They also give most affordable pricing when it comes to the senior insurance.

Transamerica Insurance

TransamericaIf you looking for term insurance, then you might want to consider getting one from this company. Especially since they continue to offers various term and whole insurance to those who are already more than 70 years old. Compared to other big company, this insurance company is known to work well with the senior and do not go against them. They even have term insurance especially made for elderly that is already more than 80 years old.

Their underwriting is also incredible, for example if you are senior those already 71 years old and even more and when your blood pressure is at 145/85 you can still qualify on their class’s best rate. You will also get their class’s best rate when your cholesterol ratio is on 5.5 numbers. This is rare as the other company will only allow ratio to be maximum 4.5. They also have one of the lowest life insurance rate for you who are already more than 75 years old.

Tips in Getting Senior Life Insurance Company

If you want to get life insurance then there is some information that you should know to get the best policy. Especially since there are some things that you need to consider before deciding which insurance company that you want to use. Having this information can help you understand more on what you need to consider and giving you several information that you need to know regarding life insurance in general. Of course, senior life insurance is a little bit different compared to the other type of life insurance. So you need to learn some of these things such as:

Risk Factor

The insurance company will always consider the risk as a factor for policy in any age, in any lifestyle or whether you are smoking or not. So you will mostly always need to pay the premium. That statement is also applied on senior insurance with several exceptions such as those who are having diabetes at their late age. But do not worry as there are still some other companies that can give better class rate for you who developed diabetes when you are 55 years old compared to when you developed it when you are 40 years old.

Get Insurance Early

If you purchase your life insurance earlier then generally the rate will be cheaper. But when you wait until you are already more than 65 years old, then most likely you will have to pay higher fee every month compared when you purchase it when you are younger.

Policy Type Matters

The policy type that you get does matters so make sure that you get the right and the best one according to your condition. If you do not get the right type then you might be in trouble at later time. Thus you might need to learn about various policy types before deciding which types to choose, for example:

  • Insurance with permanent coverage: For example you might want to consider having indexed universal for the life insurance especially when you plan to get a new estate while still getting the insurance that you want.
  • Insurance with term policy: This type of life insurance will have higher rate especially those for senior. The reason is because they apply higher insurance cost as you get older and get even closer to the life expectancy age. That is why; you need to lock in to the right amount of years according to what you need.

Business Insurance

Try to consider getting succession plan for your business. Some of you might want to get key man type insurance or even some insurance so you can fund the agreement for buy and sell. This insurance will help you in finding ways when you want to pass on your business as it is also able to give you more time when you try to sell your business away.

Another thing that you need to know is that do not consider only one insurance company as you need to compare the policy that is given to you. If you get one quote then you should try getting another quote from different company. There is some possibility that different company can give you better quote even though that is not always the case. Research is the key that you need to do.

Then what should you do to find the best insurance policy for senior? Since every people have unique background and need, it is difficult for you to find only single company that you should use. Thus you really need to consider the need for every senior according to the current condition as well as what you planning in the future. Remember that your decision will take affect for years thus you will need to see your future plan before you consider getting any.

Pleased Visit: 6 Characteristics of a Reliable Insurance Company

This is why; getting the best insurance is not an easy thing to do, but that does not impossible either. As long as you can see and consider things that you need and want to get then it would be easier. For example if you try to find an insurance for senior that is currently having serious illness then you might want to choose insurance that can give burial or final expense policy. Still that should consider every detail that the senior has. The personal insurance should match with the senior that getting the policy.