LifeNet Insurance Solutions Blog

Do you want to be able to get affordable life insurance for seniors? Follow these 8 do's and don'ts to get life insurance that gives you what you need at the best price:

1. Do Know What You Need

How much insurance do you want? How much can you afford to pay? The most affordable life insurance isn't necessarily the cheapest; it is the one which gives you the coverage you need at the best possible price.  If you want a policy for your lifetime, although term coverage will probably be less expensive, it doesn't fulfill your goal.

2. Don't Expect the Best Rating if Your Health is Not Perfect

Be realistic. If you have health issues, then your insurance will cost more. Seniors often have more health issues than younger people. The more health issues you have, the more complex the insurance underwriting will be.  The rates you see advertised on TV are for the best health category and usually younger than seniors!  (You can't get insurance for $20 a month when you are 65!)

3. Do Use an Independent Agent

Because independent agents work with many companies, not just a few, independent agents can give you a more complete quote than an online search engine or captive agent(who only has one company available).

If you are a diabetic, you probably know that you will be paying more for life insurance than someone who is not a diabetic. However, do you know how to find the best life insurance company for you? Why are some companies better than others for life insurance for diabetics?

Are you a baby boomer? Looking for life insurance? You aren't alone. As baby boomers get older, there are more and more around who want, or need life insurance. What you don't know can hurt your chances to get affordable term life insurance for seniors. What do you need to know?

Even though most people over 80 don’t expect to generate new sources of income at this point in their lives, there are some compelling reasons for life insurance for seniors over 80.  

• To leave a tax-free inheritance to family members, friends, or charities. Whereas direct inheritances are subject to estate taxes, life insurance death benefits are usually not.
• To provide for final expenses. A senior over 80 may not want to burden a surviving spouse or other family members with funeral costs. 
• To replace an income stream.
• To leave money to repay debts.
• To provide for a special needs adult child.
• And many more.

If you have any of those needs or other ones, there are three questions to consider as you look for life insurance for seniors over 80 that meets your needs for the least cost.

There are countless options to choose from, so how do you find the best life insurance company to buy a term policy from?

Many people turn to the Internet, thinking it will be easy. You can find anything on the Internet, right?  

Well, not when it comes to getting the information you need to locate the best deal on term life insurance. There are a variety of life insurance websites, but they each have limitations you should be aware of when shopping for the best life insurance company.

That's a good question! It's one thing to get an affordable life insurance quote, but quite another thing whether that quote really reflects what you will pay for an insurance policy. What's the difference? In general, the accuracy of a quote depends on the amount of information considered.

Of course, we all want the best deal possible, so you may be looking for a good deal on life insurance. But what is a good deal?

Is the cheapest term life insurance what you want? With life insurance, low cost premiums are only part of what you need to consider when deciding if it is a good deal. Low cost insurance can often meet your needs, however, in some circumstances; the cheapest term insurance may not be able to meet your goals.

Here are some things to consider besides cost:

Life insurance is critical to protecting your family’s long-term financial security, but if you don’t know how to find affordable insurance, you may be harming your short-term finances.

Fortunately, getting affordable life insurance isn’t difficult if you follow these five key steps.

Can a diabetic find affordable life insurance? Yes, if you follow these 3 steps. Here is what you need to know to save money on life insurance for diabetics:

Life insurance policies are available with an exam required or not.  Whether no exam life insurance is a good option for you depends entirely on your personal situation and preferences.

There are significant pros, but also some cons you should understand before deciding if a no exam policy is right for you.