Lets face it, as we get older, the thought of taking out life insurance seems to diminish from our thoughts. The mortgage is paid off, the kids have grown up and there is no outstanding debt. But what about the grandkids? Could you use senior life insurance to provide for their education? Of course you can and indeed many people these days are considering this as their legacy. Using Senior Life insurance to pay for grandkids education, is an excellent way of providing for their futures.
Setting up a senior life insurance policy that pays out a sum of money and then specifying that this policy is to benefit your grandkids education is an excellent method of providing a lasting legacy. Your children may have already completed their education and be working and providing for their families. But leaving something for the grandkids to help them make their way in life ensures they have something permanent to remember you by, an education!
It is not as expensive as you may think. Check out the rates from insurers in your vicinity based on your zip code. You maybe surprised at the level of cover you can obtain.
If your health is not as good as it once was, don’t worry, some of these insurers will provide life cover without a medical.
Of course, if you are still in peak physical health, you will benefit from excellent rates. Even if you are a smoker, you can still obtain insurance at competitive rates!
Providing a gift to a family member through the life insurance policy, is an excellent way to ensure your legacy continues and will provide a constant reminder to the beneficiary that you were thinking of them. Of course the benefits can be used to pay for the funeral expenses or any other outstanding debts you may have. The choices and options are endless, just ensure you express your wishes and let them be carried out.
There are numerous reasons to buy life insurance, but here with have listed five good reasons to buy senior life insurance.
1) Funeral Expenses
Did you know that the average cost of a funeral in America is now between $7,000 – $10,000. Thats right, it is expensive. Of course it can cost a lot more than that depending on the numbers who attend, will there be a wake? type of casket etc. It makes sense to ensure you have the cost of the funeral expenses set aside. Families do not want to have the worry of paying for the funeral on top of coping with the grief of losing a loved one.
2) Pay off Debt
Its a sad fact of life, that even when you die, credit card companies and any other outstanding bill you may have still has to be paid. Companies sadly do not write off these debts and will expect them to be paid. It is possible that you may have credit card insurance, depending on the card and this is worth checking. Having senior life insurance can provide a way of covering these depts.
It is not as expensive as you may first think. By using term life insurance, where you only take the policy for a set period of time (the term), the risk for the insurance company is lower, hence the lower premium. Take the challenge and see for your self.
4) Guaranteed Acceptance
Some companies will provide guaranteed acceptance and hence remove the risk for nay medical exam. However, this will increase the cost of the cover and there will be a limit on the amount of cover you can take out.
Many people wish to bequeath something to their children/grandchildren. Was better way than providing a fund to pay for their education. It provides for both a gift and a better future for them.
It is not easy to think about what happens after you have gone and whether you should take out life cover. Hopefully these ideas will help you determine the best way for forward.
Have you ever checked the amount of Life Insurance you can obtain, for the price of a cup of coffee a day? It may surprise you to learn how much you can. Take our challenge and see. Today the average cost of a funeral in America is between $6,000 – $10,000. Check to see how much senior life insurance for the price of a coffee a day!
Simply obtain a senior life insurance quote based on your zip code. Make sure you obtain up-to 10 quotes to compare prices and save up to 60% on the cost of senior life insurance.
Firstly decide which quote provides the best cover, within your budget – it is important to keep the costs to an affordable level. Then complete the simple online application form, ensuring you answer the questions honestly.
Taking out life insurance shouldn’t be a challenge and nowadays life insurance companies are all looking for your business and constantly change their rates to keep competitive. Even if you currently have life cover, there is no reason why you shouldn’t look around for different providers to ensure you are still paying a competitive price.
It is not uncommon for people to find that they can obtain the same level of cover, even though they are now older then when they initially took the life insurance out. New insurers coming to market and insurance companies fighting to be competitive drive the costs down, meaning cheaper and more cost effective cover may be available.
People check their house and auto insurance policies at renewal, but tend to forget that life insurance can also be looked at. Ensure if you do change that you are getting a like for like policy.
We all drink coffee, some more than others. But if you could stop that daily drink of coffee (make it at home…) and provide insurance to cover your funeral expenses, is that something to consider?
For many people thinking of retiring or having retired, the thought of life insurance is furthest from their mind. For those that do think about it, the thought of a medical is enough to put them off. Well worry no more, you can get life insurance for seniors with no medical exam.
No Medical Exam
Thats right, no exam. Insurers accept that many people do not want to have medical exams and do not like going to the doctors. To counter act the risk, they simply limit the amount of coverage and you pay a premium for the privilege.
If you are healthy and are happy to take a medical exam, then lower rates will of course be provided for you.
Obtain up to 10 quotes based on your zip code. Click the image below and see how much you can save!
The quotes are provided free and there are no telephone call backs.
Moving into retirement or handling retirement is not always easy. There are many things to consider. As part of this process ensure that you have all your financial dealings straightened out and have made a will. Part of this is ensuring that your final expenses are covered, and there are no surprise bills for your loved ones. The easiest way to handle this is through a life insurance policy. Once you take one out, make sure someone knows the details and where it is kept. This makes making a claim very easy in the event that something happens.
Sadly the cost of passing away has to be paid by someone, by taking out life insurance now. You can provide funds to cover the final expenses and leave some to your loved ones to ease any financial problems that they may experience.
It is not an easy subject to talk about. But by providing the funds you will help those you love deal with the difficult time and ensure they are not burdened with unwanted debt in their time of grief.