United Life Group

Guaranteed Acceptance Life Insurance for Seniors

Guaranteed life insurance for seniors is one option that many people are considering when purchasing a cheap life insurance no exam policy. It’s a great way to find cheap life insurance for seniors without an exam is available as well. Guaranteed life insurance is a policy that life insurance companies are required to pay if are making your life insurance premium payments.

Is guaranteed life insurance a good option for seniors? What is the best life insurance for seniors?

Let’s talk about the positives of guaranteed life insurance.

First of all, guaranteed life insurance is especially appealing to those who have been denied a traditional cheap term life insurance policy. In some cases a person knows they won’t pass a life insurance medical exam so they turn to these policies.

However, guaranteed life insurance for seniors also has its drawbacks. Unfortunately they aren’t cheap life insurance policies. If your looking for life insurance for seniors over 80 is not going to be cheap. The premiums are generally very high; sometimes quadruple what you would normally pay for a low cost life insurance, no medical exam plan.

Some people say that they are willing to pay these higher premiums because they’ve been denied a no med exam life insurance policy. However, it never hurts to compare term life insurance quotes for seniors from other life insurance companies in your area. You can even compare no physical exam life insurance on websites like this one.

Even though you may have been denied by a larger, well known insurance company, you may still be able to find coverage with a smaller, no exam life insurance company in your area.

It’s important to remember that if you decide to purchase a guaranteed life insurance for seniors policy and you die within two years of purchasing the plan, your family will only be reimbursed for the premium payments. You won’t receive the full death benefit from the policy. If you already have a life threatening illness, this is something you’ll definitely want to consider before purchasing a plan.

One more thing to remember when it comes to guaranteed life insurance for seniors. These plans generally pay out much lower amounts. Traditionally they pay between $5,000 and $50,000 dollars. These amounts could be helpful, but they may not cover all of the death benefits you would like.

Again, the great thing about comparing no exam life insurance quotes online is that you can shop for free. Cheap life insurance quotes no exam is something we specialize in. If you have other life insurance questions, we’d be happy to help. Please contact our office at your convenience.