To find affordable life insurance for senior citizen over 80 is easier today than ever before. This is because seniors are living longer and healthier. Plus, they are often in need of coverage because many continue to work or contribute to the family and their financial presence will be sorely missed if they should pass away unexpectedly.
Have 2 Minutes in Hand? We Offer Affordable Life Insurance Quotes in 3 Simple Steps.
The good news is that there are easy tips for over eighty years of old to follow in getting the life insurance coverage that is needed. Plus, you can save money by paying less for coverage that will protect your family in case the worst should occur.
Consider Getting a Medical Exam:
This may sound counter-intuitive for seniors who believe that their age and medical condition would prevent them from getting life insurance coverage. However, if you are in reasonably good health you can save a considerable amount over guaranteed or no medical exam policies. While most people over the age of 80 have some health issues, unless they are major in nature such as heart disease, cancer, or diabetes for example getting a medical exam to qualify for life insurance will get you a much lower rate compared to non-examination policies.
Get Only the Coverage that You Need:
Many seniors get too much coverage and wind up paying an extraordinary amount because they do not take into consideration other assets when getting life insurance. Despite the drop in cost over the years, life insurance after 80 can still be expensive particularly if you are paying for too much in benefits.
The first step is to look over all of your assets, debts and impact that your passing will make on the family and then set the right benefits amount. For example, if you have investments that more than cover the family expenses and have little in the way of debt, then you should set the benefit amount to cover funeral expenses and perhaps a bit more for any unexpected costs. A good rule of thumb is to estimate what you need in benefits and then purchase a policy that is one step above your estimate. For example, if you calculate that you need $20,000 in benefit coverage, a policy that is $25,000 or $30,000 should to be more than enough.
Search for Free Quotes:
Many insurance companies provide life insurance for 80 years old and above. Once you have determined the amount of coverage needed, you can then shop around for policies from different companies until you find the one that is best for your needs. Once you have discovered a company that offers the best price and services for their policy, you can potentially save a substantial amount of money. It only takes a few moments to fill out the form and then receive your free quote. You can spend a little time gathering up several and then decide which one works best for your needs. We have been working with all the major life insurance companies in the USA and can provide the lowest possible rate. Take advantage of our experience and you can save up to 70% on premium.
In the end, life insurance over 80 is not only possible, but very affordable if you choose to get the medical exam coverage, select the right amount of benefits, and shop around for the best policy that fits your budget.