Is Senior Life Insurance Something Older People Need?

I like to watch CNN or The History Channel while I’m working, mostly for some noise in the background. Oh, I am a news and history junkie too, but I get caught up in my work and the TV wort of fades into the background. LOL. Some of you Frugal Pigs are probably dissing me for wasting the electricity, and you have a point…. but I never said I was perfect!

Anyway, I also notice ads. Because ads are important. Those advertisers would not spend all the money on TV ads if they did not sell things, and the advertisers who advertise all the time must be getting a return. So, lately, I see a lot of ads for senior life insurance, or life insurance for old people.

These are either guaranteed issue life insurance or simplified issue whole life plans. That means, that almost anybody can qualify for a smaller face value policy – basically $2,500 – $25,000, which is money that is intended to cover a funeral and other expenses that come up when somebody passes away. It is purchased to protect a family, usually the children of the person who passes away, from needing to come up with tens of thousands of dollars worth of insurance.

So… if you or your children have access to that kind of ready cash, you probably don’t need another life insurance policy. However, if you do not have that kind of cash, a senior life insurancce policy can be an affordable way to plan.

Also see: Final Expense Insurance For Seniors

And for an easy way to find out how much these senior life policies cost, you can always visit:
Final Expense Insurance Rate

Life Insurance For Retirement has some good resources on lower rates, and also why rates are decreasing. And of course, you can also visit out personal favorite website: life insurance for over 50s!