Best life insurance options for seniors.

While most seniors aren’t worried about securing life insurance, others may be interested in having this coverage.  If you would like to secure life insurance coverage, then here are some of the best options to consider.

  • Term Life Insurance

Term life insurance policies are a great option for seniors who are in good health because they require a medical exam.  These policies are great because they tend to be more affordable than any other form of life insurance.

  • Whole Life Insurance

Whole life insurance is a good option for seniors because they offer coverage that never expires.  They also offer a cash value benefit that allows you to borrow against your policy.  This is helpful because it allows you to access money quickly to cover things like medical costs.  Please keep in mind that whole life insurance is more expensive than term life policies.

  • Guaranteed Universal Life Insurance

Guaranteed universal life insurance is a nice middle ground between term and whole life policies.  These policies allow you to set a term or allow you to continue coverage for your whole life.  Premiums are consistent throughout your policy’s life and are more cost-effective than whole life policies.  This is a great option for seniors who want a guaranteed death benefit but have a stricter budget to adhere to.

  • Final Expense Insurance

Final expense insurance offers a death benefit that your loved ones can use to cover your final medical costs and funeral and burial expenses.  These policies are available in a wide array of terms with benefits as low as $5,000 or as high as $50,000.  Because almost anyone can qualify for this type of insurance, this is a great and safe bet for seniors.

These are some of the life insurance options that are great for seniors.  Are you looking for assistance with your life insurance?  If so, then contact the experts at Randy Jones Insurance Services in Pleasanton, California.  We are ready to assist you with all your life insurance coverage needs today.