Get multiple INSURANCE QUOTES! It's Fast, Free and Easy!

Find the best insurance quotes. Enter your zip and Check your Rates Now!

Guaranteed Life Insurance for Seniors

What is guaranteed life insurance for seniors ?

Guaranteed Issue life insurance is a type of policy which a company has to offer you if you can afford the premiums. Many state laws regulate guaranteed life insurance policies. It is usually seen as the last resort of people who were refused coverage for any other policy type. The application process is very easy as you do not have to answer any questions at all. In some cases the agency will ask only for your age. This means that anyone can get this type of policy.

Is it worth it?

guaranteed life insurance for seniorsIn many cases guaranteed life insurance can be useful. You have to understand that since the agency is not taking any precautions by asking you medical-related questions, the risk must be covered by premiums, which makes such policies very expensive. You’ll have to pay the three or four times the normal price of a traditional policy! Besides being expensive, guaranteed issue policies offer limited coverage: between 5,000$ and 50,000$. This is very little compared to the coverage you can receive from a term life insurance policy.

The policy will not pay the death benefit if the insured dies in the next two years from other cause than an accident!

But, this policy can still be useful! If you are suffering from a terminal illness like cancer, diabetes and other diseases you can get a guaranteed life insurance policy anytime! The coverage may not be that big, but it can be enough to cover for your funeral and some of the debts you leave behind.

How to buy?

The high premiums make searching for a good policy very important! You should invest a lot of time in comparing quotes.

First, you’ll need to figure out if this type of policy is advantageous. Make sure your premium payments don’t exceed the value of your coverage! It is also important to try to get a term life insurance policy that doesn’t require a medical exam, before you go for a guaranteed life insurance policy. This type of policy will only ask you to complete a questionnaire. If after answering the questions you are refused coverage, you can, as a last resort purchase a guaranteed issue policy.

If the state law allows it, you can almost any agency for such a policy! However, kit is better to compare a lot of quotes before making a decision. Different companies have different prices and offers. The more you search, the higher your chances of finding a good policy! Visit our website for a free quote!

How Insurance for Seniors Works:

Enter your Zip Code

We will find the best Insurance Offers in your Local Area

Local Insurance Agents will supply you with their Best Quotes

Review your offers and Save Money on the Right Insurance Plan for You