samwyche.com – Life Insurance For Seniors Over 60 is a life insurance policy with services specifically arranged for the elderly aged 60 years and above. This type of insurance policy is a form of effort to protect the future of the elderly parents’ family from various life risks.
Life insurance for the elderly, can be the most important. Because they are at great risk of contracting various chronic diseases or indeed because they are old.
So it’s not surprising if, most life insurance premiums for the elderly, are much more expensive than life insurance for young people. This is seen because the risk factor is not too high.
Life Insurance For Seniors Over 60
For those of you who feel that you need health insurance for your parents, you must pay close attention, especially regarding the maximum age limit. Because, some health insurance limits the coverage age.
By having health insurance for the elderly. Their lives will be more secure, and when health risks come, you don’t have to worry about spending a lot of money on hospital treatment.
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Fidelity Life
Fidelity Life is something you need to consider if you have had serious health problems in the past. The company offers several options, for example accidental death, end-cost options, and whole life policies.
For policy buyers aged 50 to 85 years old, you will not need an attachment of medical or medical examination results.
Especially for RAPIDecision Senior Term Life policies, policy buyers with the age of 50 to 70 years can choose a coverage period between 10 and 30 years. The sum insured on this policy is $10,000 to $150,000.
Fidelity Life received an A rating from AM Best, indicating “excellent” financial strength, according to the rating agency.
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MassMutual
The advantages of MassMutual insurance are as follows:
- Offer a policy issuance guarantee to customers aged 75 years;
- proven to pay investment dividends to policyholders for life starting in 1869, when it was founded;
- The customer complaint rate is very low, based on an assessment from the NAIC.
The disadvantages of this company are:
- The price of the policy is always higher than its competitors,
- Customers have to meet in person with an agent to get a lot of relief
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State Farm
You can see the advantages of State Farm life insurance as follows:
- High predicate Customer service with strong corporate financial value
- Extension of Term Life Insurance up to the age of 95
- Coverage is available to all states
The disadvantages of the State Farm company are:
- A maximum lifetime insurance cash benefit of $15,000;
- Must contact the representative office when purchasing the policy.
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Northwestern Mutual
The advantages of Northwestern Mutual insurance are:
- Low complaint rate from customers according to NAIC;
- Earned the top title from AM Best in terms of financial stability
- proven to be consistently able to pay investment dividends for policyholders for life;
The disadvantages of this company’s insurance are:
- There are several specifications of the amount of coverage or additional benefits;
- Limited options of additional benefits from other companies.
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Mutual of Omaha
The advantages of life insurance at Mutual of Omaha are:
- The elderly can buy a whole life policy online;
- Allows customers to register for whole life insurance up to a maximum age of 85 years.
- Accelerated and flexible death benefits
The disadvantages of this company’s insurance are:
- Maximum death benefit of $25,000
- It is mandatory to purchase certain policies via phone if the customer is 75 years old or older.
Conclusion
Life Insurance For Seniors Over 60 is very important to protect the family from future risks. This policy will facilitate the financing of various things related to health and even the death of the elderly over 60 years old.
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