Senior Life Insurance Companies

Life insurance is required for the safety of your family and it is very important to buy a life insurance policy from a reputed company otherwise it is not going to be a good deal for you. Choosing the best plan is important as well as the company profile is also very important. There are many senior life insurance companies, but choosing the right one is tricky. There are several companies and you will have to choose very carefully to buy a good plan from a top-rated company. 

Here are few popular senior life insurance companies:

American National

This company is the best one for no exam life insurance for seniors over 65, details here. Seniors who are in bad health and don’t want to buy a plan by going through medical exams can simply stick with this company. As this company is offering plans like guaranteed acceptance life insurance, the coverage is between $20,000 and $250,000. If you are looking for bigger coverage than $250k, in that case this company is not suitable for you.

Mutual of Obama

As a senior when you are looking for something like covering just the funeral expenses, you can consider this company. It is the best company for coverage of $50,000+. This policy covers senior up to 85 years. As the coverage is smaller here, you will be able to get the plan with very low monthly premium monthly.

Be Aware of Sound Good Policies

Some policies are sounds really very good but actually they are not. There are some tricky rules that you will not be able to understand but these will cost you additional money and you will not feel comfortable when paying the premiums. Some policies are not client friendly, so you must read all the terms and conditions before buying any plan.

Guaranteed Acceptance Plans are a Bit Costly

When you are new at buying life insurance, you can hardly notice that the cost differences. The guaranteed acceptance life insurance plans are a bit costly than other plans. The prices may vary from 10% to 300% percent depending on the company and other circumstances. It is to consider that the insurer does never know about your health on this plan, so how they will asset the risk? No way to know your health condition. That is why the insurers are charging a bit more for these plans. Till you are physically fit, you should not go for any exam plans. Your first priority should be getting low-cost life insurance plans for elderly by giving medical exam. If you fail the exam, in that case you can consider guaranteed issue plans.

Finally, Compare Rates

People don’t give priority to this but this is the most important factor of getting a life insurance plan. All the insurers have their own policy rules, so comparing the quotes can give you the opportunity to get affordable deal.