Just because you’re considered a senior doens’t mean you don’t have just as much need for a life insurance policy as someone who’s still under 50. You may have a spouse that you wish to support even after you’re gone or a family to which you like to leave something behind. No matter what your reasons are for wanting life insurance coverage, the good news is that there are options, and affordable options at that, available. One example is term life insurance for seniors.
There are many reasons people don’t always buy life insurance policies when they’re young; be it they didn’t have enough money at the time or they didn’t think there was a real need for insurance coverage, people’s circumstances change and you, too, may find yourself wishing you had insurance protection in place. If this is the case, you might want to consider term life insurance for seniors.
What can you expect from term life insurance? The great thing about term life insurance, especially when it comes to seniors, is that the policies are available in flexible terms of periods of time. You are able to choose the number of years for which you will be protected by insurance, which means that regardless of your age you can choose the length of coverage that you feel will likely see you through until the end of your life. If and when you die within the term you chose, your beneficiaries will be paid the policy’s death benefit and it’s with this benefit that your loved ones will continue to support themselves.
How much does such a policy typically cost? Term life insurance has risen in popularity because it’s actually one of the more affordable options that are available today. This is good news for seniors who may have a limited income but still have the need for coverage. While it’s true that insurance companies typically reward those in good health with lower premiums, there are many insurance providers who often have great rates for people over 50.
If you would like to know more about buying term life insurance when you’re a senior, simply contact the team of insurance agents at TermLife-Insurance.com.
