Wednesday, March 25, 2009

Life Insurance for Senior Citizens

By Michael Collins

Many people do not have life insurance. A substantial amount of the uninsured are senior citizens. Many seniors believe that they are too old to get life insurance, however it is common to see advertisements for life insurance policies that are reserved for seniors. Often, uninsured senior citizens desire life insurance in order to cover medical or funeral expenses once they die.

Typically, the older a person gets, the higher their life insurance premiums are. However, this is not necessarily the case with senior-specific life insurance. One website states that "Policies are general short term, and only pay a limited death benefit for the first two years. After two years, the full price of the insurance is payable to your beneficiary at the time of your death...Life insurance for seniors is available for as little as $15 a month. Usually, these inexpensive policies offer a low death benefit...Typical deferred life insurance policies offer as little as $5,000 coverage and go up to $100,000."1

In the past, many insurance companies would not provide life insurance for senior citizens. However, today, many states require that companies provide them coverage. Many life insurance policies for seniors have cash value so that they may be borrowed against or cashed in by the policyholder if they so choose.



  1. very happy to see this news on your blog...i always wanted to have a life insurance for me and iam a senior citizen as well and recently i have come through senior term life insurance.

  2. An insurance disability lawyer can come to the rescue in such times to guide and counsel the individual through the process. A lawyer will make sure the proper documentation and specific information needed to fill the application is filed.

  3. Life insurance is something that everyone no matter what age should have. Anything could happen at any time and you should leave your loved ones with at least enough to handle your final expenses. If you do not have insurance and don't know where to start try getting a life insurance online quote with Guardian Insurance. They have reasonable pricing and can explain to you what exactly you need for your age.

  4. Many citizens do not have life insurance plan and policy. Considerable amount of the uninsured are senior citizens for your health about Senior Life Insurance.

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