Life Insurance for Seniors Over 80
Many people who are shopping for a life insurance policy are overwhelmed and a bit confused about the different types of coverage available. For younger adults shopping for life insurance, there are countless options available, including term life insurance. However, options are minimal for those looking for the best life insurance options over age 80 with no medical exam. So instead, it means that you should learn a little more about the types of life insurance for elderly individuals over 80 to know what to look for.
How Does Life Insurance for Seniors Over 80 Work?
- Find Life Insurance That You Can Afford – The best life insurance for seniors over 80 does not have to be costly.
- Make Sure Your Funeral is Covered – Funerals are getting increasingly expensive as time goes on. Life insurance can help protect your family from the burden of paying for your funeral.
- Ensure Your Funeral Expenses are Handled – You may leave behind some bills when you pass away. A life insurance plan can help your family take care of these debts and funeral costs and relieve the financial burden.
- Leave Something Behind for Your Family – You may want to leave something behind for your loved ones when you’re gone. The best whole-life policy can help you do just that. Even though face values for life insurance for seniors over age 80 often aren’t very high, it can be enough to leave behind a little Something for the people you care about the most.
How Much Does Life Insurance for Seniors Over 80 Cost?
Life insurance rates can vary. For example, the state that you live in can affect how much you’ll pay for a life insurance plan. Men and women often pay different rates, and your exact age can have an impact. You will also generally be asked if you are a tobacco user, which can affect the best rates.
To help you understand what others are paying in your state, we decided to run the numbers for a female non-smoker in each state and at each age. All life insurance quotes listed below are from top life insurance companies and are for $10,000 in coverage; this small amount can also be called burial insurance. They can build small cash value over time.
Sample quotes:
New York
- Age 84 – $128.55
Texas
- Age 85 – $135.90
California
- Age 85 – $135.90
Florida
- Age 83 – $121.31
What Are The Best Life Insurance Companies For Seniors?
Aetna
Cigna
Mutual of Omaha
Colonial Penn
Transamerica
Royal Neighbors of America
How Can You Shop for Life Insurance For Seniors Over 80?
We know how important it is for you to find the best life insurance for elderly individuals over 80 from a company you can trust to help cover your burial expenses. Therefore, we pull quotes from all the top life insurance companies in the business to help you find the best life policy.
Finding life insurance for seniors over 80 can indeed be difficult. However, we have made shopping for life insurance coverage accessible. If you call us, we would be more than happy to talk to you about your options for life insurance for seniors over age 80. Of course, you can also use our website to shop for it alone. Either way, we feel confident that we can help you find insurance options you can count on and can afford.
Facts:
Will the policy ever expire?
The best permanent life insurance policy is designed to cover you until the day that you die. Therefore, you do not have to worry about outliving your policy. This is one of the main things many people look for when shopping for coverage, whether shopping for themselves or looking at their elderly parents over 80.
Is there a waiting period before I am fully covered?
This depends. If you are approved for the standard level based on health questions or conditions, you will be covered from the day you buy your policy. If you work with us, we will help you find a guaranteed policy that does not have a waiting period. However, there might be a waiting period in some cases — such as for much older senior citizens or those with more severe health issues.
What happens if there is a waiting period?
This means you will not be fully covered by the death benefit for final expense purposes until you have had the policy for a couple of years. However, if you do happen to pass away during the first year, your beneficiary may get a small percentage of the face value to help with final expense insurance needs, such as 25 percent. If death occurs during the second year, your beneficiary may get 60 percent of the face value. Then, after that, you should be fully covered.
How can I keep costs reasonable?
You can find an affordable policy through a top provider by choosing a smaller face value and comparing your options.
For over 15 years, Matt Kiggins has been the senior editor at Simple Advisor, giving detailed advice on Medicare, life insurance, and dental coverage to thousands of clients in more than forty states. His demonstrated expertise in assisting people with their health plan selection is remarkable — it’s evident that he stands out among competitors as the go-to source for knowledge and support.
Matt holds a resident 2–15 Florida Health & Life (Including Annuities & Variable Contracts) Agent License in Florida, his state license number is P116762 (Issued 10/1/2007).
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What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
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