Senior Life Insurance

Senior life insurance is not just for burial expenses. Many seniors are investing in life insurance to ensure that their loved-ones are not left with expenses once they pass on. The baby boomer generation is living longer, and often remain in good health well into their nineties. Their life savings can be practically used up at the end of their lives.

Seniors Life Insurance Plans

In the current economy, many seniors are assisting their children's families with maintaining a stable lifestyle. They may also be the primary caregivers for their grandchildren. Seniors are requesting life insurance quotes to ensure that their family members are not left with costly bills in case of an unexpected death.

Life insurance options are now issued to people well into their eighties. There are many insurance companies that specialize in senior and eldery life insurance. They provide coverage for funeral expenses, which can run $6,000 or more. There are term life insurance options that provide coverage up to age 70. Over age 70 burial expense options can be purchased. More importantly, life insurance can also provide a way for seniors to ensure that their final bills are paid, including:

• Outstanding mortgage payments
• Unpaid credit cards or car payments
• Household expenses and bills
• Higher education bills for children and grandchildren

Several life insurance companies provide guaranteed issue coverage, which means that no medical examinations and only a few health-related questions are required. These plans can be in amounts ranging from $10,000 to over $100,000. Monthly rates are reasonable, and do not increase through the years. Nor do benefits decrease over the years. Determined by state laws, some of these have limited benefit payouts for the first two years of coverage, and then pay 100 percent of the value upon death.

Sample quotes on life insurance policies for seniors would be a monthly premium of $90 for a 67 year old female purchasing $100,000 term life insurance.

Elderly Life Insurance

Elderly policies will cover individuals up to age 95, and can be purchased from age 50 through 85. It is assumed that elderly individuals will have some health issues, but many insurance plans have guaranteed issue and death benefit policies. Individuals can obtain rates for term or whole life that accumulate cash value.

Getting monthly rates for senior and elderly life insurance is easy. Quotes are free with BurialInsurance.org.. just fill out the form above!