Life Insurance for Seniors
What is the best life insurance for seniors?
Seniors over 65 have several life insurance options: final expense insurance (simplified issue, no medical exam), guaranteed issue life insurance (no health questions), and term life insurance (if still insurable). Final expense insurance is the most popular choice for seniors who want to cover funeral costs and leave a small legacy.
Key Points
- Final expense insurance: most popular for seniors — covers funeral costs and leaves a legacy
- Guaranteed issue life insurance: no health questions, available to all seniors
- Term life insurance: available if still insurable, lower premiums
- Whole life insurance: permanent coverage with cash value growth
- An independent agent can compare all life insurance options for seniors