Life Insurance Buying Tips

Cheap Senior Citizen Life Insurance

Filed under: life insurance — Alston @ 2:14 am October 22, 2010

When seeking to buy life insurance for a senior your objectives will determine which type of coverage you should focus on. The amount of coverage needed and the length of time the coverage will be needed for are both factors.

Another factor is the individual’s health. If you are in need of life insurance and are in good health, you should stay away from any life insurance policy that offers guaranteed acceptance. You will pay more than you should if you buy one of these policies.

When you want to get life insurance, you should go through the medical screening to see what you will qualify for. If you are denied coverage, you should still be able to apply for a guaranteed issue policy.

If you need a large face amount or need coverage for a long period of time, you may want to look at a universal life insurance policy. This assumes that you will need the coverage only temporarily.

If you need your life insurance for only a short period of time, a term policy may be your best buy. However, you may find that a universal life insurance policy is more advantageous. Term life insurance is less often a good buy for seniors when compared to younger applicants.

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