If you’re a senior, it’s never too late to get life insurance. Have life insuranceIncluding covering end-of-life expenses, providing an inheritance for a loved one and giving you access to cash you can tap (If you get whole life policy).
is often Because they have more health problems than younger people. Policies that require a medical exam account for everything from your vital signs (such as heart problems or diabetes) when you determine how much risk to insure. The riskier you are considered, the higher your premium will be and the more likely you will be denied a policy altogether.
No-exam life insurance is usually more expensive than other policies, but it essentially guarantees that you’ll be covered. As an added benefit, the approval process is simpler and faster as there are fewer steps. You may even get approved the same day you apply.
Start your search for a life insurance policy now by getting a free price quote or using the map below
How Seniors Can Find the Best No-Test Life Insurance
To find the best no-check policy for your needs, take the following steps:
1. Identify your goals
Identifying why you are getting life insurance can help you zero in on the best policy. Your reasons may include:
- Paying off debt, like a mortgage
- Cover your funeral expenses
- Leaving a legacy for your children and grandchildren
Identify what you want life insurance for so you know whatChoose and how much coverage you will need. The more accurate your estimate, the more likely you are only asking for the amount you need, which can increase your chances of approval and keep your premiums low.
To find the right life insurance policy for you, get a free estimate now.
2. Choose a policy type
There are two main types of life insurance policies:And . Term life insurance covers you for a specific period of time, usually one to 30 years. You choose the word that is best for you. Whole life insurance provides cover for – you guessed it – your entire life. It also creates cash value, which you can access to pay for things like unexpected medical bills. Because its coverage is more extensive, whole life is generally more expensive than term life.
Because they wouldn’t need coverage for a younger person. They can select the term that best suits their life expectancy and, if they feel they need additional coverage when the term expires, they can get a new policy, extend their current term or . Both term and whole policies come with no test, giving you more flexibility to choose the best policy for your needs.
3. Shop for lenders
Once you know how much coverage you need, it’s time to research lenders and rates. Get quotes from at least three insurance providers to get a clear picture of your options. Be sure to get quotes for the same policy type, length and coverage amount so you can accurately compare offers. Get started by getting a free quote here or use the table below to compare some of the top providers on the market
Life insurance can be valuable regardless of your age. And no matter your age or health, you have plenty of options to choose from. No-test life insurance can provide coverage to seniors who might not otherwise qualify. To get the most out of a policy, identify your goals and the type and amount of coverage you need Be sure to also shop around for providers to get the best and most affordable policy.