Life insurance for seniors over 85

Finding life insurance for seniors over 85 can be challenging, but it is not impossible. American Benefits offers life insurance solutions that cater specifically to this age group, providing financial security and peace of mind.
Types of Life Insurance Available
1. Whole Life Insurance: This type of policy remains in effect for the insured’s lifetime, provided premiums are paid. It typically includes a savings component, which can build cash value over time.
2. Guaranteed Issue Life Insurance: This is a type of whole life insurance that guarantees coverage without the need for medical exams. It is an excellent option for seniors over 85, particularly those with health issues.
3. Simplified Issue Life Insurance: This policy requires a health questionnaire but no medical exam. It offers a balance between ease of approval and coverage amounts.
Benefits of Life Insurance for Seniors Over 85
• Legacy Planning: Life insurance can provide a financial legacy for children, grandchildren, or other beneficiaries.
• Debt Coverage: It ensures that any outstanding debts, such as medical bills or personal loans, are covered, preventing them from being passed on to loved ones.
• Funeral Costs: Similar to final expense insurance, it can cover the costs of funeral services, easing the financial burden on family members.