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.