The best life insurance policy for anyone is affordable, meets your goals and is one that you can qualify for. Finding the right life insurance for seniors isn't always easy. That's how our independent insurance agents can simplify the process and help you make an educated decision.
We've been successfully helping seniors secure life insurance policies to protect their families and businesses since 1991. Our clients are happy with out services and many are repeat customers. See our reviews on Google and judge for yourself.
There are many factors to consider when buying a life insurance policy. You’ll have questions, and the experienced independent agents at LifeNet Insurance Solutions will give you answers.
You have a choice of term coverage or a permanent policy. Your reasons for getting insurance will help us determine the best option.
Speak to one of our professional independent life insurance agents.
Let us help you to get the most value out of your life insurance.
Contact us today to discuss your life insurance.
If you’re looking at a permanent life insurance policy you must consider the goals you want to achieve with life insurance. The below are different scenarios that permanent (or lifetime) policies are perfect for.
There are different types of permanent life insurance policies available for you to choose from. Many life insurance policies for baby boomers are flexible and can be structured to meet your needs. See below for an explanation of the different types of permanent life insurance options:
A guaranteed universal life insurance policy can be set up with level premiums for life. You can choose to accrue cash value or opt out of this option, You can pay for your lifetime or with one or ten or limited payments if you don’t want to continue payments over a number of years. These policies offer a level or an increasing death benefit.
The most affordable option for a universal life insurance policy is opting out of accruing cash value and choosing a level death benefit.
This type of permanent life insurance includes several types of coverage. Whole life insurance is the best option for smaller face amounts of final expense life insurance. If you’re looking for a policy in the $2,000 - $40,000 face amount range this option is often the only choice. Final expense policies have simplified underwriting so there’s no medical exam or blood test required. These life insurance policies can be in force in a matter of days.
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The first thing you must decide before purchasing affordable life insurance for seniors over 60 is whether you want a term or permanent policy. If you are 70 or more a permanent policy probably is the right choice.
What benefits do you want out of your life insurance policy? What do you want to accomplish with your insurance policy? Talk to us and we will find the policy to fulfill your goals.
A term life insurance policy is usually the best option when you need coverage for a specific time period. (Perhaps to cover a short term loan.)
There are several types of term life insurance available for seniors and baby boomers.
Experience tells us that a level term life insurance policy is almost always the best value for term coverage.
Level term life insurance for seniors provides a death benefit and premium that remain the same for the entire period of the policy. After the level term policy expires, the premium will increase dramatically because the insurance carrier is only basing their risk on you living during the specific term. The premiums at the end of the level term period will continue to increase annually.
You can convert your term policy to permanent coverage without underwriting for all or part of the level term period. The conversion period is dependent on your age and the policy you purchase.
If you still need coverage after the term expires and you are not eligible to convert, you’ll need to apply for a new policy. , which will naturally be more expensive due to aging if you’re even still eligible.
Chronic care and critical care riders can be built into some policies, although they are slightly more expensive. The additional value these riders provide may make the increased premium worth it. If you’re diagnosed with an illness and meet your care requirements, you can borrow out of the policy to fund your care. Keep in mind that the loan will reduce the face amount payable to your beneficiary and there will be fees associated with the loan.
How much insurance coverage do you need? We find that many of our clients have some idea of how much coverage they want, and if they’re unsure we can work with them to find the appropriate coverage. We can work with the desired monthly premium and determine how much coverage is affordable.
LifeNet Insurance Solutions can help you determine how much you qualify to purchase (according to financial guidelines from different insurance carriers). We will work hard with you to find an amount of insurance that you are comfortable with and that makes sense for your situation.
The amount of insurance you choose to purchase will help determine the carriers we look at. If you want a small final expense life insurance policy we have a group of companies we work with. If you desire a larger, more expansive policy other carriers will be a better option. The type of policy determines what life insurance companies we look at.
Our experienced agents can help you find the best life insurance for seniors and understand the senior market to know exactly what to look for and what questions to ask as we prepare your quotes and application. The older we get, the more medical issues we must consider when looking for affordable life insurance for seniors.
The underwriting process may also be more complex when multiple medical issues and medications are present. Our independent agents have extensive experience working with seeking affordable life insurance for seniors.
Our agents:
LifeNet Insurance Solutions mainly uses insurance companies that are rated A+ to A-, which helps our agents write your insurance with a financially stable carrier.
There are many options when looking for affordable life insurance for seniors. Using an independent agent is the best way to acquire affordable life insurance coverage that’s right for you and your family.
Let us do the shopping for you – we know exactly where to look! We’ll help you find the best life insurance for seniors and guide you through the maze of life insurance products to get you affordable coverage that meets your policy goals. Contact us today to discuss the right life insurance for you!