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Hayward, CA- Life Insurance for Senior Citizens: Things They Won’t Tell You


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Many senior citizens have life insurance policies, but are they sufficient?

Most of us don’t consider getting a life insurance policy until we cross the age of 70. What’s the point, we think, when we have the option of spending money on better things? It does not help when friends and family members talk you into avoiding life insurance. However, you are missing out on various crucial pieces of information that no insurance company wants you to know.

Individuals nearing the age of 70 are not the ideal customers for insurance companies. Older adults usually bring health issues to the table that insurance companies are hesitant in dealing with.

Obtaining life insurance over the age of 70 should not be a difficult task. However, it’s difficult, and here are some myths and facts that might come your way that make insurance harder to obtain.

No Life Insurance for Seniors Over 70

This is a common statement that many insurance companies make when discussing the matter. However, this is not true. Life insurance for seniors over the age of 70 is both affordable and obtainable, provided seniors know what to expect.

Medical Exam

This is a fact of life insurance over the age of 70. You should expect a medical examination before you get life insurance. However, what the insurance companies don’t inform you is that you can get life insurance without taking the medical exam. This means that there will be a reduction of $25,000 from your death benefit while your interest rates will be considerably higher.

Term Life Insurance

Term life insurance is the most common form of life insurance we have today. Regardless of the effort the insurer makes in selling this policy, you should refrain from purchasing it. When you obtain the term life insurance policy at the age of 70, you will end up paying a considerably higher premium.

On the surface, term life insurance policy does seem like a viable and cost-effective option to consider. However, the high long-term rates and the increasing premium are significant barriers in determining the right fit.

Leaving Inheritance

Leaving behind an inheritance for friends and family is everyone’s dream when they pass away. The knowledge that their family is taken care of in your absence is the most calming influence on an aging person.

Purchasing the right policy allows you to leave behind a certain sum for your friends and family. You can also use the hard-earned retirement funds to enjoy your time during the retirement years.

A Guaranteed Universal Life Insurance Policy is one option that you can consider when choosing the right insurance policy. GUL caters to the need of the senior citizens by allowing them to leave a sizeable amount for their loved ones.

Researching the insurance policy and seeking help from an independent advisor can go a long way in helping you choose the best policy. Also, remember to use the details mentioned above to stay clear from insurers who talk you into buying an insurance policy not helpful for you.

“Best Best Insurance Company in Hayward, CA”

Top Rated Local Top Rated Life Insurance Agent / Agency

Alameda County: Hayward, , , , , CA


“Best Best Insurance Company in Hayward, CA”

Top Rated Local Top Rated Life Insurance Agent / Agency

Alameda County: Hayward, , , , , CA

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Hayward, CA- Life Insurance for Senior Citizens: Things They Won’t Tell You