If you are a senior over 80 and are shopping for a Life Insurance where you can leave a legacy for your descendents after you pass, you should pay attention how to get the best rate with less time and find the most cost-effective option for your individual situation.
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Many companies now offer insurance for seniors up to 89 years old – depending on which state the life insurance policy will be issued.
Comparing rates from many different companies is the only way to make sure you are getting the best possible rates.
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Sometimes quotes will vary by hundreds of dollars per year from company to company, so by comparing many quotes, you’ll find the cheapest rates possible.
You can get the best deal in a life insurance for seniors working with an experienced, licensed independent agent who specializes in life insurance for seniors is the surest way to find the best rates for your specific circumstances.
Unlike agents working for a particular carrier or website, an independent agent will take the time to help you realistically answer critical questions such as:
What are the purposes of the life insurance?
How much coverage do you need?
What type of policy should you buy (term or permanent or a combination?
Which carriers offer the best rates for your age and health issues?
Once your situation and needs are clear, an independent agent will use their knowledge of the market and their relationships with many carriers to find the best buy for you. And they can continue to work with you to monitor and evaluate your ongoing insurance needs, always making sure your interests are best served.
Most life insurance policies for seniors up to age 89 has a small face value.
The insurance industry sees anything less than $50,000 as to small in coverage to underwrite.
Usually seniors use their policy to pay for their final expenses and most funerals will cost $6,000 to $10,000 or even higher. However, majority of the time final expenses do not exceed $20,000 in overall costs. So the smaller the face value means the smaller the premium you will pay than a normal $50,000 policy. You can pay the premiums every year or every month at your choice.
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Some final expense insurance policies will require that an applicant answer some basic health questions.
The best way to get the best rates?
He will shop the best rates for you.