Senior whole life insurance is an excellent product for someone who is looking to purchase a permanent life policy with a guaranteed death benefit. These policies are most often purchase for a few reasons, most commonly when a set amount of money is needed to:
- Cover funeral/burial and final expense costs
- Pay off debt for spouse, such as a mortgage
- Provide a cash gift to spouse, children, grandchildren or other family members
- To transfer money tax free after one dies
Senior whole life insurance policies are very popular because the underwriting on the applications are often much easier than underwriting on a term policy. This is very attractive to people who have some health conditions and are looking for an easy approval and do not want to deal with the headaches of a complicated medical examination.
Want to check rates? Call 877-305-9083 or Click Here for Quotes.
A senior can purchase a policy for almost any amount they desire. Whole life insurance is great because a person on a fixed income could purchase a small life policy for around $20 a month. However, a high net-worth couple may purchase several million dollars worth of senior whole life insurance.
While you can click on the above link to get an online whole life insurance quote, you can also call 877-305-9083 to work with an agent. This may prove to be the best way to get affordable whole life insurance.