Life Insurance Quotes for Seniors- Our Best Advice

Lenny Robbins
Aug 9, 2012 12:49:00 AM

Do you need life insurance? Seniors may have more health problems, but also seniors have more reasons to buy life insurance. So how can you get insurance that will accomplish your goals? More importantly, can you get what you need at a price you can afford? Here is our best advice regarding life insurance quotes for seniors:
1. Use a Quote Engine to get a rough idea-
These are quotes for term life only, for permanent quotes you need an


 agent. Senior life insurance quotes are a little trickier, because there are generally some medical issues or medications to be considered.  Most of the time, we tell you quote engines may not be very accurate.  After entering in your:

  • Age
  • Gender
  • Are you a smoker or a non-smoker?
  • Desired term and amount of insurance

You will see a list of carriers and the price they charge for different ratings. How do you know which rating category you shoul

d choose? Well, you don't, and that's why you need to speak with an independent life in

surance agent. (See number 3 below for more details!). You can switch between the rating categories to get an idea of the different prices, but that won't tell you your rating!

2. Tell All...the Insurance Carrier will Find Out, and it's Better if They Hear it From You

Is your weight not quite in line with what you would like it to be? Do you smoke a cigar once or twice a week? Are you having a hard time keeping your blood sugar under control?

  • Tell the truth, and nothing but the truth to your insurance company.
  • If you don't, they will most likely find out anyway. 
  • Your life insurance medical exam and blood and urine testing will give the insurance carrier a lot of information.  
  • They will check a prescription database to see your medication history.
  • They will check the Medical Information Bureau (MIB) for any reports about you.

Furthermore, if you do manage to slip something by them, the contestability clause which is part of every life insurance policy means they could deny paying your death benefit if you die within two years from something you did not reveal.

3. Speak to an Independent Agent

Life insurance quotes for seniors can be complicated, especially if there are multiple issues.  As you know, you can't actually buy insurance through a quote engine. You may be able to request an application and complete a questionnaire that will answer many of the questions on the application.  However, you will need to speak with an agent to fill out the application. 

Depending on your medical history, medications, and other lifestyle choices an agent should be able to estimate your underwriting and give you a more accurate quote. It's based on what you tell the agent, so as we said, tell it all!

  • On the agent's portion of the application it almost always asks if the agent asked all of the questions on the application.
  • By choosing an independent agent, you get experience and an advocate.
  • An independent agent can make sure the life insurance you've chosen will fulfill your goals.
  • The agent will not only complete your application, they should also schedule your paramedic exam, and give you instructions to get the best results.
  • They will make sure you apply to the best carrier for your situation.
  • The agent will answer all of your questions.
  • The agent should keep you informed as your application proceeds through the underwriting process.
  • The agent should monitor your case and contact you if more information, or additional forms are needed.
  • It's the agent's job to make sure the information needed to underwrite your application is obtained in as timely a manner as possible. 

An independent agent should smooth the way for your application to get to the underwriter as quickly as possible, while keeping you informed.  You want someone you can contact during the application process as well as after your policy is in effect for any questions or assistance you may need.

The Bottom Line

Life insurance quotes for seniors can start with the quote engine, but you need to speak to an independent agent to begin the processing of your application. Luckily, that is easy to do! Just run a quote, find a carrier you are interested in and click the button to get an application!  A good agent will discuss your goals with you to make sure that your policy choice is the best one for your needs.  If it isn't, they will guide you to the one that is.


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